Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2023

Statement of Comprehensive Income [Abstract]

Reclassification out of Accumulated Other Comprehensive Income

The following table details reclassifications out of AOCI and into Net income. The amounts in parentheses below indicate decreases to Net income in the Consolidated Statements of Income for the period, net of tax (in thousands):

		Amount Reclassified from AOCI
	Location on the Consolidated Statements of Income	Three Months Ended March 31,
		2023			2022
Gains and (losses) on cash flow hedges:
Interest rate swaps	Interest expense	$	(713	)	$	(713	)
Commodity contracts	Fuel, purchased power and cost of natural gas sold		(1,950	)		2,254
		$	(2,663	)	$	1,541
Income tax	Income tax expense		616			(375	)
Total reclassification adjustments related to cash flow hedges, net of tax		$	(2,047	)	$	1,166
Amortization of components of defined benefit plans:
Prior service cost	Operations and maintenance	$	-		$	24
Actuarial gain (loss)	Operations and maintenance		(44	)		(188	)
		$	(44	)	$	(164	)
Income tax	Income tax expense		16			39
Total reclassification adjustments related to defined benefit plans, net of tax		$	(28	)	$	(125	)
Total reclassifications		$	(2,075	)	$	1,041

Schedule of Accumulated Other Comprehensive Income (Loss)

Balances by classification included within AOCI, net of tax on the accompanying Consolidated Balance Sheets were as follows (in thousands):

	Derivatives Designated as Cash Flow Hedges
	Interest Rate Swaps			Commodity Derivatives			Employee Benefit Plans			Total
As of December 31, 2022	$	(8,255	)	$	(1,200	)	$	(6,112	)	$	(15,567	)
Other comprehensive income (loss)
before reclassifications		-			(855	)		-			(855	)
Amounts reclassified from AOCI		563			1,484			28			2,075
As of March 31, 2023	$	(7,692	)	$	(571	)	$	(6,084	)	$	(14,347	)

	Derivatives Designated as Cash Flow Hedges
	Interest Rate Swaps			Commodity Derivatives			Employee Benefit Plans			Total
As of December 31, 2021	$	(10,384	)	$	1,476		$	(11,176	)	$	(20,084	)
Other comprehensive income (loss)
before reclassifications		-			1,047			-			1,047
Amounts reclassified from AOCI		536			(1,702	)		125			(1,041	)
As of March 31, 2022	$	(9,848	)	$	821		$	(11,051	)	$	(20,078	)