Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Other Comprehensive Income (Loss), before Tax [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)
Year Ended December 31, 2015
Net unrealized gain on marketable securities	$	38		$	14		$	24
Net unrealized loss on hedging instruments	(52,259		)	(20,282		)	(31,977		)
Net change in pension and other post-retirement benefit obligations	79			31			48
Other comprehensive loss	(52,142		)	(20,237		)	(31,905		)
Less other comprehensive income attributable to noncontrolling interest	144			—			144
Other comprehensive loss attributable to HollyFrontier stockholders	$	(52,286	)	$	(20,237	)	$	(32,049	)
Year Ended December 31, 2014
Net unrealized loss on marketable securities	$	(157	)	$	(62	)	$	(95	)
Net unrealized gain on hedging instruments	55,812			21,583			34,229
Net change in pension and other post-retirement benefit obligations	(11,425		)	(4,423		)	(7,002		)
Other comprehensive income	44,230			17,098			27,132
Less other comprehensive income attributable to noncontrolling interest	60			—			60
Other comprehensive income attributable to HollyFrontier stockholders	$	44,170		$	17,098		$	27,072
Year Ended December 31, 2013
Net unrealized gain on marketable securities	$	34		$	17		$	17
Net unrealized loss on hedging instruments	(20,183		)	(8,669		)	(11,514		)
Net change in pension and other post-retirement benefit obligations	37,593			14,534			23,059
Other comprehensive income	17,444			5,882			11,562
Less other comprehensive income attributable to noncontrolling interest	2,315			—			2,315
Other comprehensive income attributable to HollyFrontier stockholders	$	15,129		$	5,882		$	9,247

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
	Years Ended December 31,
	2015			2014			2013
	(In thousands)
Marketable securities	$	(51	)	$	4		$	39		Interest income
	42			—			—			Gain on sale of assets
	(9		)	4			39
	(3		)	2			15			Income tax expense (benefit)
	(6		)	2			24			Net of tax
Hedging instruments:
Commodity price swaps	245,819			88,326			(20,060		)	Sales and other revenues
	(179,700		)	(37,313		)	38,949			Cost of products sold
	(17,607		)	791			(3,379		)	Operating expenses
Interest rate swaps	(2,100		)	(2,202		)	(2,941		)	Interest expense
	46,412			49,602			12,569
	18,454			19,712			5,554			Income tax expense
	27,958			29,890			7,015			Net of tax
	1,273			1,335			1,783			Noncontrolling interest
	29,231			31,225			8,798			Net of tax and noncontrolling interest
Pension and other post-retirement benefit obligations:
Pension obligation	—			—			(3,226		)	Cost of products sold
	—			—			(30,127		)	Operating expenses
	—			—			(4,236		)	General and administrative expenses
	—			—			(37,589		)
	—			—			(14,547		)	Income tax benefit
	—			—			(23,042		)	Net of tax
Post-retirement healthcare obligation	271			482			646			Cost of products sold
	2,681			3,366			2,868			Operating expenses
	347			448			526			General and administrative expenses
	3,299			4,296			4,040
	1,277			1,663			1,563			Income tax expense
	2,022			2,633			2,477			Net of tax
Retirement restoration plan	(20		)	(920		)	(111		)	General and administrative expenses
	(8		)	(356		)	(43		)	Income tax benefit
	(12		)	(564		)	(68		)	Net of tax
Total reclassifications for the period	$	31,235		$	33,296		$	(11,811	)

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

	December 31,
	2015			2014
	(In thousands)
Unrealized gain on post-retirement benefit obligations	$	20,737		$	20,689
Unrealized loss on marketable securities	(61		)	(85		)
Unrealized gain (loss) on hedging instruments, net of noncontrolling interest	(24,831		)	7,290
Accumulated other comprehensive income (loss)	$	(4,155	)	$	27,894