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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,
2014 2013 2012
(In thousands)
Marketable securities $ 4 $ 39 $ 59 Interest income
— — 326 Gain on sale of marketable equity securities
4 39 385
2 15 150 Income tax expense
2 24 235 Net of tax
Hedging instruments:
Commodity price swaps 88,326 (20,060) (98,750) Sales and other revenues
(37,313) 38,949 43,575 Cost of products sold
791 (3,379) — Operating expenses
Interest rate swaps (2,202) (2,941) (6,603) Interest expense
49,602 12,569 (61,778)
19,712 5,554 (22,590) Income tax expense (benefit)
29,890 7,015 (39,188) Net of tax
1,335 1,783 3,753 Noncontrolling interest
31,225 8,798 (35,435) Net of tax and noncontrolling interest
Pension and other post-retirement
benefit obligations:
Pension obligation — (3,226) (226) Cost of products sold
— (30,127) (1,486) Operating expenses
— (4,236) (244) General and administrative expenses
— (37,589) (1,956)
— (14,547) (761) Income tax benefit
— (23,042) (1,195) Net of tax
Post-retirement healthcare
obligation 482 646 — Cost of products sold
3,366 2,868 1,913 Operating expenses
448 526 39 General and administrative expenses
4,296 4,040 1,952
1,663 1,563 759 Income tax expense
2,633 2,477 1,193 Net of tax
Retirement restoration plan (920) (111) (63) General and administrative expenses
(356) (43) (25) Income tax benefit
(564) (68) (38) Net of tax
Total reclassifications for the period $ 33,296 $ (11,811) $ (35,240)
Accumulated other comprehensive income in the equity section of our consolidated balance sheets includes:
December 31,
2014 2013
(In thousands)
Unrealized gain on post-retirement benefit obligations $ 20,689 $ 27,691
Unrealized gain (loss) on marketable securities (85) 10
Unrealized gain (loss) on hedging instruments, net of noncontrolling interest 7,290 (26,879)
Accumulated other comprehensive income $ 27,894 $ 822