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Other Comprehensive Income and Accumulated Other Comprehensive Income ("AOCI")
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Other Comprehensive Income and Accumulated Other Comprehensive Income ("AOCI")
Note 6 - Other Comprehensive Income and Accumulated Other Comprehensive Income ("AOCI")
The following information provides insight into amounts impacting the Company’s and Southwest’s Other comprehensive income (loss), both before and after-tax impacts, within the Consolidated Statements of Comprehensive Income, which also impact Accumulated other comprehensive income (“AOCI”) in the Consolidated Balance Sheets and the Consolidated Statements of Equity.
Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss):
Year Ended December 31,
202220212020
(Thousands of dollars)
Before-
Tax
Amount
Tax (Expense) or
Benefit (1)
Net-of-
Tax
Amount
Before-
Tax
Amount
Tax
(Expense)
or
Benefit (1)
Net-of-
Tax
Amount
Before-
Tax
Amount
Tax
(Expense)
or
Benefit (1)
Net-of-
Tax
Amount
Defined benefit pension plans:
Net actuarial gain/(loss)$4,079 $(980)$3,099 $59,176 $(14,202)$44,974 $(57,539)$13,809 $(43,730)
Amortization of prior service cost175 (42)133 959 (230)729 1,155 (277)878 
Amortization of net actuarial (gain)/loss34,818 (8,357)26,461 44,597 (10,703)33,894 37,830 (9,079)28,751 
Regulatory adjustment(28,232)6,775 (21,457)(88,194)21,167 (67,027)7,435 (1,785)5,650 
Pension plans other comprehensive income (loss)
10,840 (2,604)8,236 16,538 (3,968)12,570 (11,119)2,668 (8,451)
FSIRS (designated hedging activities):
Amounts reclassified into net income545 (129)416 2,174 (522)1,652 3,247 (780)2,467 
FSIRS other comprehensive income (loss)545 (129)416 2,174 (522)1,652 3,247 (780)2,467 
Total other comprehensive income (loss) –Southwest Gas Corporation
11,385 (2,733)8,652 18,712 (4,490)14,222 (7,872)1,888 (5,984)
Foreign currency translation adjustments:
Translation adjustments(6,133)— (6,133)20 — 20 1,713 — 1,713 
Foreign currency other comprehensive income (loss)
(6,133)— (6,133)20 — 20 1,713 — 1,713 
Total other comprehensive income (loss) – Southwest Gas Holdings, Inc.
$5,252 $(2,733)$2,519 $18,732 $(4,490)$14,242 $(6,159)$1,888 $(4,271)
(1) Tax amounts are calculated using a 24% rate. With regard to foreign currency translation adjustments, the Company has elected to indefinitely reinvest the earnings of Centuri’s Canadian subsidiaries in Canada, thus preventing deferred taxes on such earnings. As a result of this assertion, and no repatriation of earnings anticipated, the Company is not recognizing a tax effect or presenting a tax expense or benefit for currency translation adjustments in Other comprehensive income (loss).
The following table represents a rollforward of AOCI, presented on the Company’s Consolidated Balance Sheets and its Consolidated Statements of Equity:
  Defined Benefit PlansFSIRSForeign Currency Items  
(Thousands of dollars)Before-TaxTax
(Expense)
Benefit (4)		After-TaxBefore-
Tax		Tax
(Expense)
Benefit (4)		After-TaxBefore-
Tax		Tax
(Expense)
Benefit		After-TaxAOCI
Beginning Balance AOCI December 31, 2021
$(61,182)$14,685 $(46,497)$(545)$129 $(416)$152 $— $152 $(46,761)
Net actuarial gain/(loss)4,079 (980)3,099 — — — — — — 3,099 
Translation adjustments— — — — — — (6,133)— (6,133)(6,133)
Other comprehensive income before reclassifications4,079 (980)3,099 — — — (6,133)— (6,133)(3,034)
FSIRS amount reclassified from AOCI (1)— — — 545 (129)416 — — — 416 
Amortization of prior service cost (2)175 (42)133 — — — — — — 133 
Amortization of net actuarial loss (2)34,818 (8,357)26,461 — — — — — — 26,461 
Regulatory adjustment (3)(28,232)6,775 (21,457)— — — — — (21,457)
Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings, Inc.10,840 (2,604)8,236 545 (129)416 (6,133)— (6,133)2,519 
Ending Balance AOCI December 31, 2022
$(50,342)$12,081 $(38,261)$— $— $— $(5,981)$— $(5,981)$(44,242)
(1)The FSIRS reclassification amount is included in Net interest deductions on the Company’s Consolidated Statements of Income.
(2)These AOCI components are included in the computation of net periodic benefit cost (see Note 11 - Pension and Other Postretirement Benefits for additional details).
(3)The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included in Deferred charges and other assets on the Company’s Consolidated Balance Sheets).
(4)    Tax amounts are calculated using a 24% rate.
The following table represents a rollforward of AOCI, presented on Southwest’s Consolidated Balance Sheets:
  Defined Benefit PlansFSIRS   
(Thousands of dollars)Before-TaxTax
(Expense)
Benefit (9)		After-
Tax
Before-
Tax
Tax
(Expense)
Benefit (9)		After-
Tax		AOCI
Beginning Balance AOCI December 31, 2021
$(61,182)$14,685 $(46,497)$(545)$129 $(416)$(46,913)
Net actuarial gain/(loss)4,079 (980)3,099 — — — 3,099 
Other comprehensive loss before reclassifications
4,079 (980)3,099 — — — 3,099 
FSIRS amount reclassified from AOCI (6)— — — 545 (129)416 416 
Amortization of prior service cost (7)175 (42)133 — — — 133 
Amortization of net actuarial loss (7)34,818 (8,357)26,461 — — — 26,461 
Regulatory adjustment (8)(28,232)6,775 (21,457)— — — (21,457)
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation
10,840 (2,604)8,236 545 (129)416 8,652 
Ending Balance AOCI December 31, 2022
$(50,342)$12,081 $(38,261)$— $— $— $(38,261)
(6)    The FSIRS reclassification amount is included in Net interest deductions on Southwest’s Consolidated Statements of Income.
(7)    These AOCI components are included in the computation of net periodic benefit cost (see Note 11 - Pension and Other Postretirement Benefits for additional details).
(8)    The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included Deferred charges and other assets on Southwest’s Consolidated Balance Sheets).
(9)    Tax amounts are calculated using a 24% rate.
The following table represents amounts (before income tax impacts) included in AOCI (in the tables above), that have not yet been recognized in net periodic benefit cost:
Year Ended December 31,
(Thousands of dollars)20222021
Net actuarial loss$(360,113)$(399,010)
Prior service cost(1,353)(1,528)
Less: amount recognized in regulatory assets311,124 339,356 
Recognized in AOCI$(50,342)$(61,182)
See Note 11 - Pension and Other Postretirement Benefits for more information on the defined benefit pension plans.