Other Comprehensive Income

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Other Comprehensive Income

Other Comprehensive Income

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the three month period ended September 30, 2014 (in thousands):

	Gains and Losses on Cash Flow Hedges		Change in Valuation Allowance	Total
Balance as of June 30, 2014	($2,294)		($1,360)	($3,654)
Other comprehensive loss before reclassifications:
Change in fair value of derivatives	5,293			5,293
Income tax effect	(1,969	)	1,360	(609	)
Net of tax	3,324		1,360	4,684
Amounts reclassified from accumulated other comprehensive loss:
Oil and gas sales	(240	)		(240	)
Income tax effect	89		—	89
Net of tax	(151	)	—	(151	)
Net other comprehensive income	3,173		1,360	4,533
Balance as of September 30, 2014	$879		$0	$879

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the nine month period ended September 30, 2014 (in thousands):

	Gains and Losses on Cash Flow Hedges		Change in Valuation Allowance		Total
Balance as of December 31, 2013	($688)		($408)		($1,096)
Other comprehensive loss before reclassifications:
Change in fair value of derivatives	(3,510	)			(3,510	)
Income tax effect	1,395		(2,004	)	(609	)
Net of tax	(2,115	)	(2,004	)	(4,119	)
Amounts reclassified from accumulated other comprehensive loss:
Oil and gas sales	6,005				6,005
Income tax effect	(2,323	)	2,412		89
Net of tax	3,682		2,412		6,094
Net other comprehensive income	1,567		408		1,975
Balance as of September 30, 2014	$879		$0		$879

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the three month period ended September 30, 2013 (in thousands):

	Gains and Losses on Cash Flow Hedges		Change in Valuation Allowance	Total
Balance as of June 30, 2013	$1,418		$0	$1,418
Other comprehensive income before reclassifications:
Change in fair value of derivatives	110		—	110
Income tax effect	(41	)	—	(41	)
Net of tax	69		—	69
Amounts reclassified from accumulated other comprehensive income:
Oil and gas sales	(234	)	—	(234	)
Income tax effect	87		—	87
Net of tax	(147	)	—	(147	)
Net other comprehensive loss	(78	)	—	(78	)
Balance as of September 30, 2013	$1,340		$0	$1,340

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the nine month period ended September 30, 2013 (in thousands):

	Gains and Losses on Cash Flow Hedges		Change in Valuation Allowance	Total
Balance as of December 31, 2012	$521		$0	$521
Other comprehensive income before reclassifications:
Change in fair value of derivatives	1,047		—	1,047
Income tax effect	(389	)	—	(389	)
Net of tax	658		—	658
Amounts reclassified from accumulated other comprehensive income:
Oil and gas sales	257		—	257
Income tax effect	(96	)	—	(96	)
Net of tax	161		—	161
Net other comprehensive income	819		—	819
Balance as of September 30, 2013	$1,340		$0	$1,340