Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the Company’s (loss) AOCI by component for the years ended December 31, 2019, 2018, and 2017, respectively:


Puget Energy	Net unrealized gain (loss) and prior service cost on pension plans
Changes in AOCI, net of tax
(Dollars in Thousands)					Total
Balance at December 31, 2016	$	(33,712)	$	(33,712)
Other comprehensive income (loss) before reclassifications	10,251		10,251
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(821)		(821)
Net current-period other comprehensive income (loss)	9,430		9,430
Balance at December 31, 2017	$	(24,282)	$	(24,282)
Other comprehensive income (loss) before reclassifications	(48,870)		(48,870)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,180		1,180
Reclassification of stranded taxes to retained earnings due to tax reform	(5,230)		(5,230)
Net current-period other comprehensive income (loss)	(52,920)		(52,920)
Balance at December 31, 2018	$	(77,202)	$	(77,202)
Other comprehensive income (loss) before reclassifications	(7,337)		(7,337)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	390		390

Net current-period other comprehensive income (loss)	(6,947)		(6,947)
Balance at December 31, 2019	$	(84,149)	$	(84,149)



Puget Sound Energy	Net unrealized gain (loss) and prior service cost on pension plans		Net unrealized gain (loss) on treasury interest rate swaps
Changes in AOCI, net of tax
(Dollars in Thousands)							Total
Balance at December 31, 2016	$	(140,155)	$	(5,356)	$	(145,511)
Other comprehensive income (loss) before reclassifications	10,200		—		10,200
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	8,088		317		8,405
Net current-period other comprehensive income (loss)	18,288		317		18,605
Balance at December 31, 2017	$	(121,867)	$	(5,039)	$	(126,906)
Other comprehensive income (loss) before reclassifications	(48,802)		—		(48,802)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	11,772		385		12,157
Reclassification of stranded taxes to retained earnings due to tax reform	(26,233)		(1,100)		(27,333)
Net current-period other comprehensive income (loss)	(63,263)		(715)		(63,978)
Balance at December 31, 2018	$	(185,130)	$	(5,754)	$	(190,884)
Other comprehensive income (loss) before reclassifications	(8,096)		—		(8,096)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	10,118		385		10,503

Net current-period other comprehensive income (loss)	2,022		385		2,407
Balance at December 31, 2019	$	(183,108)	$	(5,369)	$	(188,477)

Details about the reclassifications out of AOCI (loss) for the years ended December 31, 2019, 2018, and 2017, respectively, are as follows:


Puget Energy
(Dollars in Thousands)
Details about accumulated other comprehensive income (loss) components	Affected line item in the statement where net income (loss) is presented	Amount reclassified from accumulated other comprehensive income (loss)
				2019		2018		2017
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	$	1,648	$	1,937	$	1,938
Amortization of net gain (loss)	(a)	(2,142)		(3,431)		(675)
	Total before tax	$	(494)	$	(1,494)	$	1,263
	Tax (expense) or benefit	104		314		(442)
	Net of Tax	(390)		(1,180)		821








Total reclassification for the period	Net of Tax	$	(390)	$	(1,180)	$	821

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^(a)These AOCI components are included in the computation of net periodic pension cost, see Note 13, "Retirement Benefits," to the consolidated financial statements included in item 8 of this report for additional details.


Puget Sound Energy
(Dollars in Thousands)
Details about accumulated other comprehensive income (loss) components	Affected line item in the statement where net income (loss) is presented	Amount reclassified from accumulated other comprehensive income (loss)
		2019		2018		2017
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	$	1,240	$	1,529	$	1,529
Amortization of net gain (loss)	(a)	(14,048)		(16,430)		(13,972)
	Total before tax	$	(12,808)	$	(14,901)	$	(12,443)
	Tax (expense) or benefit	2,690		3,129		4,355
	Net of tax	$	(10,118)	$	(11,772)	$	(8,088)




Net unrealized gain (loss) on treasury interest rate swaps:
Interest rate contracts	Interest expense	(487)		(487)		(488)
	Tax (expense) or benefit	102		102		171
	Net of Tax	$	(385)	$	(385)	$	(317)
Total reclassification for the period	Net of Tax	$	(10,503)	$	(12,157)	$	(8,405)

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