Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Other Comprehensive Income (Loss) [Abstract]

Components And Allocated Tax Effects Of 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)
Three Months Ended September 30, 2020
Net change in foreign currency translation adjustment	$	7,727	$	1,705	$	6,022
Net unrealized gain on hedging instruments	2,492		636		1,856
Net change in pension and other post-retirement benefit obligations	—		1		(1)
Other comprehensive income attributable to HollyFrontier stockholders	$	10,219	$	2,342	$	7,877
Three Months Ended September 30, 2019
Net change in foreign currency translation adjustment	$	(9,311)	$	(1,959)	$	(7,352)
Net unrealized loss on hedging instruments	(7,562)		(1,929)		(5,633)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(16,873)	$	(3,888)	$	(12,985)
Nine Months Ended September 30, 2020
Net change in foreign currency translation adjustment	$	(2,149)	$	(434)	$	(1,715)
Net unrealized loss on hedging instruments	(3,918)		(1,000)		(2,918)
Net change in pension and other post-retirement benefit obligations	(42)		(3)		(39)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(6,109)	$	(1,437)	$	(4,672)
Nine Months Ended September 30, 2019
Net change in foreign currency translation adjustment	$	4,212	$	896	$	3,316
Net unrealized gain on hedging instruments	372		94		278
Other comprehensive income attributable to HollyFrontier stockholders	$	4,584	$	990	$	3,594

Reclassifications from Other Comprehensive Income to Income Statement

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
	Three Months Ended September 30,
	2020		2019
	(In thousands)
Hedging instruments:
Commodity price swaps	$	(5,217)	$	—	Sales and other revenues
	983		6,027		Cost of products sold
	(352)		(454)		Operating expenses
	(4,586)		5,573
	(1,169)		1,421		Income tax expense (benefit)
Total reclassifications for the period	$	(3,417)	$	4,152	Net of tax
	Nine Months Ended September 30,
	2020		2019
Hedging instruments:
Commodity price swaps	$	(5,168)	$	(1,799)	Sales and other revenues
	3,272		15,323		Cost of products sold
	(1,515)		(987)		Operating expenses
	(3,411)		12,537
	(870)		3,197		Income tax expense (benefit)
Total reclassifications for the period	$	(2,541)	$	9,340	Net of tax

Accumulated Other Comprehensive Loss In Equity

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

	September 30, 2020		December 31, 2019
	(In thousands)
Foreign currency translation adjustment	$	(3,902)	$	(2,187)
Unrealized loss on pension obligation	(1,798)		(1,733)
Unrealized gain on post-retirement benefit obligations	15,359		15,333
Unrealized gain on hedging instruments	443		3,361
Accumulated other comprehensive income	$	10,102	$	14,774