Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2015

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The components and allocated tax effects of other comprehensive income (loss) are as follows:

	Before-Tax			Tax Expense (Benefit)			After-Tax
	(In thousands)
Three Months Ended March 31, 2015
Net unrealized gain on marketable securities	$	68		$	27		$	41
Net unrealized loss on hedging instruments	(19,319		)	(7,302		)	(12,017		)
Other comprehensive loss	(19,251		)	(7,275		)	(11,976		)
Less other comprehensive loss attributable to noncontrolling interest	(454		)	—			(454		)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(18,797	)	$	(7,275	)	$	(11,522	)
Three Months Ended March 31, 2014
Net unrealized gain on marketable securities	$	11		$	(3	)	$	14
Net unrealized gain on hedging instruments	87,083			33,743			53,340
Net change in post-retirement benefit obligations	(89		)	(35		)	(54		)
Other comprehensive income	87,005			33,705			53,300
Less other comprehensive income attributable to noncontrolling interest	58			—			58
Other comprehensive income attributable to HollyFrontier stockholders	$	86,947		$	33,705		$	53,242

The following table presents the income statement line item effects for reclassifications out of accumulated other comprehensive income (“AOCI”):

AOCI Component	Gain (Loss) Reclassified From AOCI						Income Statement Line Item
	(In thousands)
	Three Months Ended March 31,
	2015			2014
Marketable securities	$	(2	)	$	1		Interest income
	42			—			Gain on sale of assets
	40			1
	15			—			Income tax expense
	25			1			Net of tax
Hedging instruments:
Commodity price swaps	49,180			(25,331		)	Sales and other revenues
	(40,769		)	29,317			Cost of products sold
	(3,989		)	1,504			Operating expenses
Interest rate swaps	(531		)	(538		)	Interest expense
	3,891			4,952
	1,630			2,043			Income tax expense
	2,261			2,909			Net of tax
	322			326			Noncontrolling interest
	2,583			3,235			Net of tax and noncontrolling interest
Total reclassifications for the period	$	2,608		$	3,236

Accumulated other comprehensive income in the equity section of our consolidated balance sheets includes:

	March 31, 2015			December 31, 2014
	(In thousands)
Unrealized gain on post-retirement benefit obligations	$	20,689		$	20,689
Unrealized loss on marketable securities	(44		)	(85		)
Unrealized gain (loss) on hedging instruments, net of noncontrolling interest	(4,273		)	7,290
Accumulated other comprehensive income	$	16,372		$	27,894