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Stockholder's Equity - Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Stockholder's Equity
Preferred Stock
We had 2,000,000 authorized and unissued shares of preferred stock, $0.01 par value per share, as of September 30, 2018 and December 31, 2017. Shares of preferred stock may be issued from time to time, by authorization of our Board of Directors and without the necessity of further action or authorization by stockholders, in one or more series and with such voting powers, designations, preferences and relative, participating, optional or other special rights and qualifications as the Board of Directors may, in its discretion, determine.
Accumulated Other Comprehensive Loss
Defined benefit pension and postretirement plan items, unrealized gains (losses) of our propane swap agreements, call options and natural gas futures contracts, designated as commodity contracts cash flow hedges, are the components of our accumulated other comprehensive loss. During the first quarter of 2018, we elected early adoption of ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. Accordingly, we reclassified stranded tax effects resulting from the TCJA from accumulated other comprehensive loss to retained earnings, related to our employee benefit plans and commodity contracts cash flow hedges.
The following tables present the changes in the balance of accumulated other comprehensive (loss)/income as of September 30, 2018 and 2017. All amounts except the stranded tax reclassification are presented net of tax.

 
 
Defined Benefit
 
Commodity
 
 
 
 
Pension and
 
Contracts
 
 
 
 
Postretirement
 
Cash Flow
 
 
 
 
Plan Items
 
Hedges
 
Total
(in thousands)
 
 
 
 
 
 
As of December 31, 2017
 
$
(4,743
)
 
$
471

 
$
(4,272
)
Other comprehensive loss before reclassifications
 
—

 
(1,126
)
 
(1,126
)
Amounts reclassified from accumulated other comprehensive income
 
275

 
1,043

 
1,318

Net current-period other comprehensive income/(loss)
 
275

 
(83
)
 
192

Stranded tax reclassification to retained earnings
 
(1,022
)
 
115

 
(907
)
As of September 30, 2018
 
$
(5,490
)
 
$
503

 
$
(4,987
)


 
 
Defined Benefit
 
Commodity
 
 
 
 
Pension and
 
Contracts
 
 
 
 
Postretirement
 
Cash Flow
 
 
 
 
Plan Items
 
Hedges
 
Total
(in thousands)
 
 
 
 
 
 
As of December 31, 2016
 
$
(5,360
)
 
$
482

 
$
(4,878
)
Other comprehensive (loss)/income before reclassifications
 
(9
)
 
322

 
313

Amounts reclassified from accumulated other comprehensive income/(loss)
 
271

 
(965
)
 
(694
)
Net prior-period other comprehensive income/(loss)
 
262

 
(643
)
 
(381
)
As of September 30, 2017
 
$
(5,098
)
 
$
(161
)
 
$
(5,259
)

The following table presents amounts reclassified out of accumulated other comprehensive loss for the three and nine months ended September 30, 2018 and 2017. Deferred gains or losses for our commodity contracts cash flow hedges are recognized in earnings upon settlement.
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2018
 
2017
 
2018
 
2017
(in thousands)
 
 
 
 
 
 
 
 
Amortization of defined benefit pension and postretirement plan items:
 
 
 
 
 
 
 
 
Prior service credit (1)
 
$
19

 
$
19

 
$
58

 
$
58

Net loss(1)
 
(138
)
 
(171
)
 
(435
)
 
(509
)
Total before income taxes
 
(119
)

(152
)
 
(377
)

(451
)
Income tax benefit
 
33

 
61

 
102

 
180

Net of tax
 
$
(86
)
 
$
(91
)
 
$
(275
)

$
(271
)
 
 
 
 
 
 
 
 
 
Gains and losses on commodity contracts cash flow hedges:
 
 
 
 
 
 
 
 
Propane swap agreements (2)
 
$
(276
)
 
$
198

 
$
(921
)
 
$
663

Natural gas swaps (2)
 
123

 
1

 
(358
)
 
1

Natural gas futures (2)
 
(308
)
 
(852
)
 
(171
)
 
929

Total before income taxes
 
(461
)
 
(653
)
 
(1,450
)

1,593

Income tax benefit (expense)
 
129

 
248

 
407

 
(628
)
Net of tax
 
(332
)
 
(405
)

(1,043
)
 
965

Total reclassifications for the period
 
$
(418
)
 
$
(496
)

$
(1,318
)
 
$
694


 
(1) These amounts are included in the computation of net periodic costs (benefits). See Note 9, Employee Benefit Plans, for additional details.
(2) These amounts are included in the effects of gains and losses from derivative instruments. See Note 12, Derivative Instruments, for additional details.
Amortization of defined benefit pension and postretirement plan items is included in operations expense, and gains and losses on propane swap agreements, call options and natural gas futures contracts are included in cost of sales in the accompanying consolidated statements of income. The income tax benefit is included in income tax expense in the accompanying consolidated statements of income.