Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2021

Other Comprehensive Income (Loss), before Tax [Abstract]

Schedule of Components and Allocated Tax Effects of OCI

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, 2021
Net change in foreign currency translation adjustment	$	(6,636)	$	(1,417)	$	(5,219)
Net unrealized gain on hedging instruments	960		237		723
Net change in pension and other post-retirement benefit obligations	(930)		(233)		(697)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(6,606)	$	(1,413)	$	(5,193)
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
Nine Months Ended September 30, 2021
Net change in foreign currency translation adjustment	$	(10,411)	$	(2,192)	$	(8,219)
Net unrealized gain on hedging instruments	1,742		431		1,311
Net change in pension and other post-retirement benefit obligations	(2,792)		(698)		(2,094)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(11,461)	$	(2,459)	$	(9,002)
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)

Schedule of Income Statement Line Items Effects Out of AOCI

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

AOCI Component	Gain (Loss) Reclassified From AOCI				Statement of Operations Line Item
	Three Months Ended September 30,
	2021		2020
	(In thousands)
Hedging instruments:
Commodity price swaps	$	(468)	$	(5,217)	Sales and other revenues
	—		983		Cost of products sold
	520		(352)		Operating expenses
	52		(4,586)
	13		(1,169)		Income tax expense (benefit)
	39		(3,417)		Net of tax
Other post-retirement benefit obligations:
Pension obligations	101		—		Other, net
	25		—		Income tax expense
	76		—		Net of tax
Post-retirement healthcare obligations	838		—		Other, net
	211		—		Income tax expense
	627		—		Net of tax
Retirement restoration plan	(9)		—		Other, net
	(2)		—		Income tax benefit
	(7)		—		Net of tax
Total reclassifications for the period	$	735	$	(3,417)

AOCI Component	Gain (Loss) Reclassified From AOCI				Statement of Operations Line Item
	Nine Months Ended September 30,
	2021		2020
	(In thousands)
Hedging instruments:
Commodity price swaps	$	(19,239)	$	(5,168)	Sales and other revenues
	—		3,272		Cost of products sold
	467		(1,515)		Operating expenses
	(18,772)		(3,411)
	(4,731)		(870)		Income tax benefit
	(14,041)		(2,541)		Net of tax
Other post-retirement benefit obligations:
Pension obligations	306		—		Other, net
	77		—		Income tax expense
	229		—		Net of tax
Post-retirement healthcare obligations	2,513		—		Other, net
	633		—		Income tax expense
	1,880		—		Net of tax
Retirement restoration plan	(27)		—		Other, net
	(7)		—		Income tax benefit
	(20)		—		Net of tax
Total reclassifications for the period	$	(11,952)	$	(2,541)

Schedule of AOCI in Equity

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

	September 30, 2021		December 31, 2020
	(In thousands)
Foreign currency translation adjustment	$	(5,537)	$	2,682
Unrealized loss on pension obligation	(554)		(248)
Unrealized gain on post-retirement benefit obligations	9,522		11,310
Unrealized gain (loss) on hedging instruments	1,029		(282)
Accumulated other comprehensive income	$	4,460	$	13,462