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Other Comprehensive Income:
6 Months Ended
Jun. 30, 2021
Statement of Comprehensive Income [Abstract]  
Other Comprehensive Income Other Comprehensive Income
We record deferred gains (losses) in AOCI related to interest rate swaps designated as cash flow hedges, commodity contracts designated as cash flow hedges and the amortization of components of our defined benefit plans. Deferred gains (losses) for our commodity contracts designated as cash flow hedges are recognized in earnings upon settlement, while deferred gains (losses) related to our interest rate swaps are recognized in earnings as they are amortized.

The following table details reclassifications out of AOCI and into Net income. The amounts in parentheses below indicate decreases to Net income in the Condensed Consolidated Statements of Income for the period (in thousands):

Location on the Condensed Consolidated Statements of IncomeAmount Reclassified from AOCI
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Gains and (losses) on cash flow hedges:
Interest rate swapsInterest expense incurred net of amounts capitalized (including amortization of debt issuance costs, premiums and discounts)$(713)$(713)$(1,426)$(1,426)
Commodity contractsFuel, purchased power and cost of natural gas sold56 (70)25 (556)
(657)(783)(1,401)(1,982)
Income taxIncome tax (expense)136 186 334 471 
Total reclassification adjustments related to cash flow hedges, net of tax$(521)$(597)$(1,067)$(1,511)
Amortization of components of defined benefit plans:
Prior service costOperations and maintenance$24 $25 $49 $55 
Actuarial gain (loss)Operations and maintenance(597)(597)(1,195)(1,194)
(573)(572)(1,146)(1,139)
Income taxIncome tax (expense)151 176 359 264 
Total reclassification adjustments related to defined benefit plans, net of tax$(422)$(396)$(787)$(875)
Total reclassifications$(943)$(993)$(1,854)$(2,386)
Balances by classification included within AOCI, net of tax on the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands):
Derivatives Designated as Cash Flow Hedges
Interest Rate SwapsCommodity DerivativesEmployee Benefit PlansTotal
As of December 31, 2020$(12,558)$$(14,790)$(27,346)
Other comprehensive income (loss)
before reclassifications— 1,046 — 1,046 
Amounts reclassified from AOCI1,086 (19)787 1,854 
As of June 30, 2021$(11,472)$1,029 $(14,003)$(24,446)
Derivatives Designated as Cash Flow Hedges
Interest Rate SwapsCommodity DerivativesEmployee Benefit PlansTotal
As of December 31, 2019$(15,122)$(456)$(15,077)$(30,655)
Other comprehensive income (loss)
before reclassifications— (220)55 (165)
Amounts reclassified from AOCI1,087 424 875 2,386 
As of June 30, 2020$(14,035)$(252)$(14,147)$(28,434)