Comprehensive Income

12 Months Ended

Dec. 31, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income

COMPREHENSIVE INCOME

The components of the reclassification adjustments for the period, net of tax, included in Other Comprehensive Income were as follows (in thousands):

	Derivatives Designated as Cash Flow Hedges	Amounts Reclassified from AOCI
		2015			2014
Gains and Losses on cash flow hedges
Interest rate swaps gain (loss)	Interest expense	$	64		$	64
Income tax	Income tax benefit (expense)	319			(364		)
Total reclassification adjustments related to cash flow hedges, net of tax		$	383		$	(300	)
Amortization of defined benefit plans:
Actuarial gain (loss)	Operations and maintenance	$	94		$	45
Income tax	Income tax benefit (expense)	(33		)	(16		)
Total reclassification adjustments related to defined benefit plans, net of tax		$	61		$	29

Derivatives designated as cash flow hedges relate to a treasury lock entered into in August 2002 to hedge $50 million of our First Mortgage Bonds due on August 15, 2032. The treasury lock cash settled on August 8, 2002, the bond pricing date, and resulted in a $1.8 million loss. The treasury lock is treated as a cash flow hedge and the resulting loss is carried in Accumulated other comprehensive loss and is being amortized over the life of the related bonds.

Balances by classification included within Accumulated other comprehensive loss on the accompanying Balance Sheets were as follows (in thousands):

	Interest Rate Swaps			Employee Benefit Plans			Total
As of December 31, 2014	$	(1,018	)	$	(801	)	$	(1,819	)
Other comprehensive income (loss)	383			129			512
As of December 31, 2015	$	(635	)	$	(672	)	$	(1,307	)
	Interest Rate Swaps			Employee Benefit Plans			Total
As of December 31, 2013	$	(719	)	$	(478	)	$	(1,197	)
Other comprehensive income (loss)	(299		)	(323		)	(622		)
As of December 31, 2014	$	(1,018	)	$	(801	)	$	(1,819	)