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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss)
The following table sets forth the balance in accumulated other comprehensive loss for the periods indicated:
 
 
Unrealized Gains
(Losses) on Risk-
Management
Assets/Liabilities (a)
 
Pension and
Postretirement
Benefit Plan
Obligations (a) (b)
 
Unrealized Gains
(Losses) on Risk-
Management
Assets/Liabilities of
Unconsolidated
Affiliates (a)
 
Accumulated
Other
Comprehensive
Loss (a)
 
 
(Thousands of dollars)
January 1, 2016
 
$
(42,199
)
 
$
(84,543
)
 
$
(500
)
 
$
(127,242
)
Other comprehensive income (loss) before reclassifications
 
(9,280
)
 
(22,903
)
 
(475
)
 
(32,658
)
Amounts reclassified from accumulated other comprehensive loss
 
(676
)
 
6,210

 
16

 
5,550

Other comprehensive income (loss) attributable to ONEOK
 
(9,956
)
 
(16,693
)
 
(459
)
 
(27,108
)
December 31, 2016
 
(52,155
)
 
(101,236
)
 
(959
)
 
(154,350
)
Other comprehensive income (loss) before reclassifications
 
(35,013
)
 
(12,337
)
 
(409
)
 
(47,759
)
Amounts reclassified from accumulated other comprehensive loss
 
45,541

 
8,162

 
164

 
53,867

Impact of Merger Transaction (Note B) (c)
 
(40,288
)
 
—

 
—

 
(40,288
)
Other comprehensive income (loss) attributable to ONEOK
 
(29,760
)
 
(4,175
)
 
(245
)
 
(34,180
)
December 31, 2017
 
$
(81,915
)
 
$
(105,411
)
 
$
(1,204
)
 
$
(188,530
)
(a) All amounts are presented net of tax.
(b) Includes amounts related to supplemental executive retirement plan.
(c) Includes the remaining portion of ONEOK Partners’ accumulated other comprehensive loss at June 30, 2017, that we acquired in the Merger Transaction, related to commodity and interest-rate contracts.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
The following table sets forth the effect of reclassifications from accumulated other comprehensive loss in our Consolidated Statements of Income for the periods indicated:
Details about Accumulated Other
Comprehensive Loss Components
 
Years Ended December 31,
 
Affected Line Item in the
Consolidated Statements of Income
2017
 
2016
 
2015
 
 
(Thousands of dollars)
 
 
Unrealized gains (losses) on risk-management assets/liabilities
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(69,561
)
 
$
26,422

 
$
81,089

 
Commodity sales revenues
Interest-rate contracts
 
(21,025
)
 
(19,215
)
 
(17,565
)
 
Interest expense
 
 
(90,586
)
 
7,207

 
63,524

 
Income before income taxes
 
 
26,899

 
(230
)
 
(8,815
)
 
Income tax expense
 
 
(63,687
)
 
6,977

 
54,709

 
Net income
Noncontrolling interests
 
(18,146
)
 
6,301

 
39,415

 
Less: Net income attributable noncontrolling interests
 
 
$
(45,541
)
 
$
676

 
$
15,294

 
Net income attributable to ONEOK
 
 
 
 
 
 
 
 
 
Pension and postretirement benefit plan obligations (a)
 
 
 
 
 
 
 
 
Amortization of net loss
 
$
(15,265
)
 
$
(12,012
)
 
$
(17,724
)
 
 
Amortization of unrecognized prior service cost
 
1,662

 
1,662

 
1,568

 
 
 
 
(13,603
)
 
(10,350
)
 
(16,156
)
 
Income before income taxes
 
 
5,441

 
4,140

 
6,462

 
Income tax expense
 
 
$
(8,162
)
 
$
(6,210
)
 
$
(9,694
)
 
Net income attributable to ONEOK
 
 
 
 
 
 
 
 
 
Unrealized gains (losses) on risk-management assets/liabilities of unconsolidated affiliates
 
 
 


 


 
 
 
 
$
(367
)
 
$
(63
)
 
$
—

 
Equity in net earnings from investments
 
 
97

 
10

 
—

 
Income tax expense
 
 
(270
)
 
(53
)
 
—

 
Net income
Noncontrolling interests
 
(106
)
 
(37
)
 
—

 
Less: Net income attributable to noncontrolling interests
 
 
$
(164
)
 
$
(16
)
 
$
—

 
Net income attributable to ONEOK
 
 
 
 
 
 
 
 
 
Total reclassifications for the period attributable to ONEOK
 
$
(53,867
)
 
$
(5,550
)
 
$
5,600

 
Net income attributable to ONEOK

(a) These components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note L for additional detail of our net periodic benefit cost.