Reclassifications From Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2013

Reclassifications From Accumulated Other Comprehensive Income [Abstract]

Reclassifications From Accumulated Other Comprehensive Income

(8) RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME

In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“Update 2013-02”), which finalizes proposed ASU No. 2012-240, and seeks to improve the transparency of reporting reclassifications out of accumulated other comprehensive income. Update 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income.

The following table details the components of AOCI and the related tax effects for the three months ended March 31, 2013:

	Gains and Losses on Cash Flow Hedges		Pension and Other Postretirement		Foreign Currency		Total
	(in thousands) (1)
Beginning balance	$	172,166	$	(22,311)	$	(51)	$	149,804
Other comprehensive income before reclassifications		(45,481)		–		(1,029)		(46,510)
Amounts reclassified from accumulated other comprehensive income (2)		(47,954)		267		–		(47,687)
Net current-period other comprehensive Income		(93,435)		267		(1,029)		(94,197)
Ending balance	$	78,731	$	(22,044)	$	(1,080)	$	55,607

(1) All amounts are net-of-tax.

(2) See separate table below for details about these reclassifications.

The following table details the amounts reclassified from AOCI into earnings for the three months ended March 31, 2013:

Details about Accumulated Other Comprehensive Income		Amount Reclassified from Accumulated Other Comprehensive Income	Affected Line Item in the Consolidated Statement of Operations
Gains and losses on cash flow hedges
Settlements	$	(78,621)	Gas Sales
Ineffectiveness		(1,302)	Gas Sales
		(79,923)	Income before income taxes
		(31,969)	Provision for income taxes
	$	(47,954)	Net income
Pension and other postretirement
Amortization of prior service cost included in net periodic pension cost (1)	$	445	General and administrative expenses
		445	Income before income taxes
		178	Provision for income taxes
	$	267	Net income
Total reclassifications for the period	$	(47,687)	Net income

(1) This accumulated other comprehensive income component is included in the computation of net periodic pension cost (see pension footnote for additional details.)