Other Comprehensive Income (Loss)

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



	Before-Tax			Tax Expense (Benefit)			After-Tax
	(In thousands)
Year Ended December 31, 2017
Net change in foreign currency translation adjustment	$	22,151		$	7,774		$	14,377
Net unrealized loss on marketable securities	(4		)	(1		)	(3		)
Net unrealized gain on hedging instruments	14,447			5,613			8,834
Net change in pension and other post-retirement benefit obligations	(5,807		)	(2,037		)	(3,770		)
Other comprehensive income	30,787			11,349			19,438
Less other comprehensive loss attributable to noncontrolling interest	(57		)	—			(57		)
Other comprehensive gain attributable to HollyFrontier stockholders	$	30,844		$	11,349		$	19,495

Year Ended December 31, 2016
Net unrealized gain on marketable securities	$	104		$	40		$	64
Net unrealized gain on hedging instruments	25,040			9,713			15,327
Net change in other post-retirement benefit obligations	(1,113		)	(431		)	(682		)
Other comprehensive income	24,031			9,322			14,709
Less other comprehensive loss attributable to noncontrolling interest	(58		)	—			(58		)
Other comprehensive income attributable to HollyFrontier stockholders	$	24,089		$	9,322		$	14,767

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 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	)

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,
	2017			2016			2015
	(In thousands)
Marketable securities	$	—		$	(23	)	$	(51	)	Interest income
	—			—			42			Other, net
	—			(23		)	(9		)
	—			(9		)	(3		)	Income tax benefit
	—			(14		)	(6		)	Net of tax

Hedging instruments:
Commodity price swaps	7,836			(20,293		)	245,819			Sales and other revenues
	(299		)	—			(179,700		)	Cost of products sold
	(19,244		)	(21,864		)	(17,607		)	Operating expenses
Interest rate swaps	179			(508		)	(2,100		)	Interest expense
	(11,528		)	(42,665		)	46,412
	(4,490		)	(16,387		)	18,454			Income tax expense (benefit)
	(7,038		)	(26,278		)	27,958			Net of tax
	(74		)	320			1,273			Noncontrolling interest
	(7,112		)	(25,958		)	29,231			Net of tax and noncontrolling interest

Other post-retirement benefit obligations:
Post-retirement healthcare obligation	87			130			271			Cost of products sold
	3,012			2,989			2,681			Operating expenses
	382			363			347			Selling, general and administrative expenses
	3,481			3,482			3,299
	1,347			1,348			1,277			Income tax expense
	2,134			2,134			2,022			Net of tax

Retirement restoration plan	(17		)	(15		)	(20		)	Selling, general and administrative expenses
	(7		)	(6		)	(8		)	Income tax benefit
	(10		)	(9		)	(12		)	Net of tax

Total reclassifications for the period	$	(4,988	)	$	(23,847	)	$	31,235

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



	Years Ended December 31,
	2017			2016
	(In thousands)
Foreign currency translation adjustment	$	14,377		$	—
Unrealized loss on pension obligation	(654		)	—
Unrealized gain on post-retirement benefit obligations	16,939			20,055
Unrealized gain on marketable securities	—			3
Unrealized loss on hedging instruments, net of noncontrolling interest	(793		)	(9,446		)
Accumulated other comprehensive income	$	29,869		$	10,612