Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 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 September 30, 2015
Net unrealized gain on marketable securities	$	166		$	64		$	102
Net unrealized loss on hedging instruments	(9,335		)	(3,552		)	(5,783		)
Other comprehensive loss	(9,169		)	(3,488		)	(5,681		)
Less other comprehensive loss attributable to noncontrolling interest	(158		)	—			(158		)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(9,011	)	$	(3,488	)	$	(5,523	)
Three Months Ended September 30, 2014
Net unrealized loss on marketable securities	$	(165	)	$	(64	)	$	(101	)
Net unrealized loss on hedging instruments	(8,441		)	(3,527		)	(4,914		)
Net change in post-retirement benefit obligations	422			163			259
Other comprehensive loss	(8,184		)	(3,428		)	(4,756		)
Less other comprehensive income attributable to noncontrolling interest	673			—			673
Other comprehensive income attributable to HollyFrontier stockholders	$	(8,857	)	$	(3,428	)	$	(5,429	)
Nine Months Ended September 30, 2015
Net unrealized gain on marketable securities	$	171		$	66		$	105
Net unrealized loss on hedging instruments	(34,463		)	(13,154		)	(21,309		)
Other comprehensive loss	(34,292		)	(13,088		)	(21,204		)
Less other comprehensive loss attributable to noncontrolling interest	(477		)	—			(477		)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(33,815	)	$	(13,088	)	$	(20,727	)
Nine Months Ended September 30, 2014
Net unrealized loss on marketable securities	$	(129	)	$	(50	)	$	(79	)
Net unrealized gain on hedging instruments	112,957			43,616			69,341
Net change in pension and other post-retirement benefit obligations	333			128			205
Other comprehensive income	113,161			43,694			69,467
Less other comprehensive income attributable to noncontrolling interest	278			—			278
Other comprehensive income attributable to HollyFrontier stockholders	$	112,883		$	43,694		$	69,189

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 September 30,
	2015			2014
Marketable securities	$	—		$	12		Interest income
	—			5			Income tax expense
	—			7			Net of tax
Hedging instruments:
Commodity price swaps	57,513			(6,202		)	Sales and other revenues
	(44,023		)	20,776			Cost of products sold
	(3,986		)	(444		)	Operating expenses
Interest rate swaps	(526		)	(556		)	Interest expense
	8,978			13,574
	3,598			5,384			Income tax expense
	5,380			8,190			Net of tax
	319			337			Noncontrolling interest
	5,699			8,527			Net of tax and noncontrolling interest
Retirement restoration plan	—			(422		)	General and administrative expenses
	—			(163		)	Income tax benefit
	—			(259		)	Net of tax
Total reclassifications for the period	$	5,699		$	8,275
	Nine Months Ended September 30,
	2015			2014
Marketable securities	$	4		$	13		Interest income
	42			—			Gain on sale of assets
	46			13
	18			5			Income tax expense
	28			8			Net of tax
Hedging instruments:
Commodity price swaps	156,445			(80,475		)	Sales and other revenues
	(115,756		)	111,217			Cost of products sold
	(12,231		)	1,805			Operating expenses
Interest rate swaps	(1,585		)	(1,647		)	Interest expense
	26,873			30,900
	10,772			12,345			Income tax expense
	16,101			18,555			Net of tax
	961			998			Noncontrolling interest
	17,062			19,553			Net of tax and noncontrolling interest
Retirement restoration plan	—			(422		)	General and administrative expenses
	—			(163		)	Income tax benefit
	—			(259		)	Net of tax
Total reclassifications for the period	$	17,090		$	19,302

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

	September 30, 2015			December 31, 2014
	(In thousands)
Unrealized gain on post-retirement benefit obligations	$	20,689		$	20,689
Unrealized loss on marketable securities	20			(85		)
Unrealized gain (loss) on hedging instruments, net of noncontrolling interest	(13,542		)	7,290
Accumulated other comprehensive income	$	7,167		$	27,894