Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

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



	Before-Tax			Tax Expense (Benefit)			After-Tax
	(In thousands)
Three Months Ended March 31, 2020
Net change in foreign currency translation adjustment	$	(21,586	)	$	(4,627	)	$	(16,959	)
Net unrealized loss on hedging instruments	(13,324		)	(3,398		)	(9,926		)
Net change in pension and other post-retirement benefit obligations	(42		)	(4		)	(38		)
Other comprehensive loss attributable to HollyFrontier stockholders	$	(34,952	)	$	(8,029	)	$	(26,923	)

Three Months Ended March 31, 2019
Net change in foreign currency translation adjustment	$	4,363		$	905		$	3,458
Net unrealized gain on hedging instruments	13,948			3,557			10,391
Net change in pension and other post-retirement benefit obligations	(74		)	—			(74		)
Other comprehensive income attributable to HollyFrontier stockholders	$	18,237		$	4,462		$	13,775

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
	Three Months Ended March 31,
	2020			2019
	(In thousands)
Hedging instruments:
Commodity price swaps	$	5,452		$	(1,799	)	Sales and other revenues
	1,830			3,622			Cost of products sold
	(706		)	(181		)	Operating expenses
	6,576			1,642
	1,677			419			Income tax expense
Total reclassifications for the period	$	4,899		$	1,223		Net of tax

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



	March 31, 2020			December 31, 2019
	(In thousands)
Foreign currency translation adjustment	$	(19,146	)	$	(2,187	)
Unrealized loss on pension obligation	(1,798		)	(1,733		)
Unrealized gain on post-retirement benefit obligations	15,360			15,333
Unrealized gain (loss) on hedging instruments	(6,565		)	3,361
Accumulated other comprehensive income (loss)	$	(12,149	)	$	14,774