Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2016

Other Comprehensive Income (Loss), before Tax [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The components and allocated tax effects of other comprehensive income (loss) are as follows:

	Before-Tax			Tax Expense (Benefit)			After-Tax
	(In thousands)
Year Ended December 31, 2016
Net unrealized gain on marketable securities	$	104		$	40		$	64
Net unrealized gain on hedging instruments	25,040			9,713			15,327
Net change in other post-retirement benefit obligations	(1,113		)	(431		)	(682		)
Other comprehensive income	24,031			9,322			14,709
Less other comprehensive loss attributable to noncontrolling interest	(58		)	—			(58		)
Other comprehensive gain attributable to HollyFrontier stockholders	$	24,089		$	9,322		$	14,767
Year Ended December 31, 2015
Net unrealized gain on marketable securities	$	38		$	14		$	24
Net unrealized loss on hedging instruments	(52,259		)	(20,282		)	(31,977		)
Net change in other post-retirement benefit obligations	79			31			48
Other comprehensive loss	(52,142		)	(20,237		)	(31,905		)
Less other comprehensive income attributable to noncontrolling interest	144			—			144
Other comprehensive loss attributable to HollyFrontier stockholders	$	(52,286	)	$	(20,237	)	$	(32,049	)
Year Ended December 31, 2014
Net unrealized loss on marketable securities	$	(157	)	$	(62	)	$	(95	)
Net unrealized gain on hedging instruments	55,812			21,583			34,229
Net change in other post-retirement benefit obligations	(11,425		)	(4,423		)	(7,002		)
Other comprehensive income	44,230			17,098			27,132
Less other comprehensive income attributable to noncontrolling interest	60			—			60
Other comprehensive income attributable to HollyFrontier stockholders	$	44,170		$	17,098		$	27,072

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,
	2016			2015			2014
	(In thousands)
Marketable securities	$	(23	)	$	(51	)	$	4		Interest income
	—			42			—			Gain on sale of assets
	(23		)	(9		)	4
	(9		)	(3		)	2			Income tax expense (benefit)
	(14		)	(6		)	2			Net of tax
Hedging instruments:
Commodity price swaps	(20,293		)	245,819			88,326			Sales and other revenues
	—			(179,700		)	(37,313		)	Cost of products sold
	(21,864		)	(17,607		)	791			Operating expenses
Interest rate swaps	(508		)	(2,100		)	(2,202		)	Interest expense
	(42,665		)	46,412			49,602
	(16,387		)	18,454			19,712			Income tax expense (benefit)
	(26,278		)	27,958			29,890			Net of tax
	320			1,273			1,335			Noncontrolling interest
	(25,958		)	29,231			31,225			Net of tax and noncontrolling interest
Other post-retirement benefit obligations:
Post-retirement healthcare obligation	130			271			482			Cost of products sold
	2,989			2,681			3,366			Operating expenses
	363			347			448			General and administrative expenses
	3,482			3,299			4,296
	1,348			1,277			1,663			Income tax expense
	2,134			2,022			2,633			Net of tax
Retirement restoration plan	(15		)	(20		)	(920		)	General and administrative expenses
	(6		)	(8		)	(356		)	Income tax benefit
	(9		)	(12		)	(564		)	Net of tax
Total reclassifications for the period	$	(23,847	)	$	31,235		$	33,296

Accumulated other comprehensive income (loss) in the equity section of our consolidated balance sheets includes:

	Years Ended December 31,
	2016			2015
	(In thousands)
Unrealized gain on post-retirement benefit obligations	$	20,055		$	20,737
Unrealized gain (loss) on marketable securities	3			(61		)
Unrealized loss on hedging instruments, net of noncontrolling interest	(9,446		)	(24,831		)
Accumulated other comprehensive income (loss)	$	10,612		$	(4,155	)