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Table of Contents HOLLYFRONTIER CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Continued
83
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
Years Ended December 31,
2015 2014 2013
(In thousands)
Marketable securities $ (51) $ 4 $ 39 Interest income
42 — — Gain on sale of assets
(9) 4 39
(3) 2 15 Income tax expense (benefit)
(6) 2 24 Net of tax
Hedging instruments:
Commodity price swaps 245,819 88,326 (20,060) Sales and other revenues
(179,700) (37,313) 38,949 Cost of products sold
(17,607) 791 (3,379) Operating expenses
Interest rate swaps (2,100) (2,202) (2,941) Interest expense
46,412 49,602 12,569
18,454 19,712 5,554 Income tax expense
27,958 29,890 7,015 Net of tax
1,273 1,335 1,783 Noncontrolling interest
29,231 31,225 8,798 Net of tax and noncontrolling interest
Pension and other post-retirement
benefit obligations:
Pension obligation — — (3,226) Cost of products sold
— — (30,127) Operating expenses
— — (4,236) General and administrative expenses
— — (37,589)
— — (14,547) Income tax benefit
— — (23,042) Net of tax
Post-retirement healthcare
obligation 271 482 646 Cost of products sold
2,681 3,366 2,868 Operating expenses
347 448 526 General and administrative expenses
3,299 4,296 4,040
1,277 1,663 1,563 Income tax expense
2,022 2,633 2,477 Net of tax
Retirement restoration plan (20) (920) (111) General and administrative expenses
(8) (356) (43) Income tax benefit
(12) (564) (68) Net of tax
Total reclassifications for the period $ 31,235 $ 33,296 $ (11,811)
Accumulated other comprehensive income in the equity section of our consolidated balance sheets includes:
December 31,
2015 2014
(In thousands)
Unrealized gain on post-retirement benefit obligations $ 20,737 $ 20,689
Unrealized loss on marketable securities (61) (85)
Unrealized gain (loss) on hedging instruments, net of noncontrolling interest (24,831) 7,290
Accumulated other comprehensive income (loss) $ (4,155) $ 27,894