Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the balance of accumulated other comprehensive income (loss) for the years ended December 31, 2021 and 2020. All amounts in the following tables are presented net of tax. 

	Defined Benefit Pension and Postretirement Plan Items		Commodity Contract Cash Flow Hedges		Interest Rate Swap Cash Flow Hedges		Total
(in thousands)
As of December 31, 2019	$	(4,933)	$	(1,334)	$	—	$	(6,267)
Other comprehensive income (loss) before reclassifications	(578)		5,400		16		4,838
Amounts reclassified from accumulated other comprehensive income (loss)	365		(1,757)		(44)		(1,436)
Net current-period other comprehensive income (loss)	(213)		3,643		(28)		3,402
As of December 31, 2020	(5,146)		2,309		(28)		(2,865)
Other comprehensive income before reclassifications	262		7,075		—		7,337
Amounts reclassified from accumulated other comprehensive income (loss)	1,616		(4,813)		28		(3,169)
Net current-period other comprehensive income	1,878		2,262		28		4,168
As of December 31, 2021	$	(3,268)	$	4,571	$	—	$	1,303

Reclassification out of Accumulated Other Comprehensive Income

The following table presents amounts reclassified out of accumulated other comprehensive income (loss) for the years ended December 31, 2021, 2020 and 2019. Deferred gains and losses of our commodity contracts cash flow hedges are recognized in earnings upon settlement.

	For the Year Ended December 31,
(in thousands)	2021		2020		2019
Amortization of defined benefit pension and postretirement plan items:
Prior service cost (1)	$	77	$	77	$	77
Net gain (1)	(2,243)		(592)		(2,600)
Total before income taxes	(2,166)		(515)		(2,523)
Income tax benefit (4)	550		150		656
Net of tax	$	(1,616)	$	(365)	$	(1,867)
Gains on commodity contracts cash flow hedges
Propane swap agreements (2)	$	6,651	$	2,428	$	1,520
Natural gas swaps (2)(3)	—		—		7
Natural gas futures (2)(3)	—		—		2,096
Total before income taxes	6,651		2,428		3,623
Income tax expense (4)	(1,838)		(671)		(1,028)
Net of tax	$	4,813	$	1,757	$	2,595
Gains and (losses) on interest rate swap cash flow hedges:
Interest rate swap agreements	$	(28)	$	60	$	—
Total before income taxes	(28)		60		—
Income tax expense (4)	—		(16)		—
Net of tax	$	(28)	$	44	$	—
Total reclassifications for the period	$	3,169	$	1,436	$	728

(1) These amounts are included in the computation of net periodic benefits. See Note 17, Employee Benefit Plans, for additional details.

(2) These amounts are included in the effects of gains and losses from derivative instruments. See Note 8, Derivative Instruments, for additional details.

(3) PESCO's results are reflected as discontinued operations in our consolidated statements of income.

(4) The income tax benefit is included in income tax expense in the accompanying consolidated statements of income.