Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

For the three months ended September 30, 2016, the only component of accumulated other comprehensive income (loss) related to our cash flow hedges. Changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2016, were as follows (in millions):

	Cash Flow Hedges
Three Months Ended September 30, 2016
Beginning balance, net of tax	$	7.4
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	2.3
Income tax effect	(0.8		)
Net of tax	1.5
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	7.7
Income tax effect	(2.7		)
Net of tax	5.0
Other comprehensive loss, net of tax	(3.5		)
Ending balance, net of tax	$	3.9

	Cash Flow Hedges			Foreign Currency Items			Total
Nine Months Ended September 30, 2016
Beginning balance, net of tax	$	24.0		$	(6.0	)	$	18.0
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	(1.7		)	—			(1.7		)
Income tax effect	0.6			—			0.6
Net of tax	(1.1		)	—			(1.1		)
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	29.4			—			29.4
Other operational expenses	—			(6.0		)	(6.0		)
Income tax effect	(10.4		)	—			(10.4		)
Net of tax	19.0			(6.0		)	13.0
Other comprehensive income (loss), net of tax	(20.1		)	6.0			(14.1		)
Ending balance, net of tax	$	3.9		$	—		$	3.9

Changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2015, were as follows (in millions):

	Cash Flow Hedges			Foreign Currency Items			Total
Three Months Ended September 30, 2015
Beginning balance, net of tax	$	46.5		$	(5.8	)	$	40.7
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	31.6			—			31.6
Foreign currency translations	—			(0.2		)	(0.2		)
Income tax effect	(11.5		)	—			(11.5		)
Net of tax	20.1			(0.2		)	19.9
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	39.9			—			39.9
Income tax effect	(14.4		)	—			(14.4		)
Net of tax	25.5			—			25.5
Other comprehensive loss, net of tax	(5.4		)	(0.2		)	(5.6		)
Ending balance, net of tax	$	41.1		$	(6.0	)	$	35.1

	Cash Flow Hedges			Foreign Currency Items			Total
Nine Months Ended September 30, 2015
Beginning balance, net of tax	$	86.8		$	(3.5	)	$	83.3
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	35.7			—			35.7
Foreign currency translations	—			(2.5		)	(2.5		)
Income tax effect	(12.8		)	—			(12.8		)
Net of tax	22.9			(2.5		)	20.4
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	107.1			—			107.1
Income tax effect	(38.5		)	—			(38.5		)
Net of tax	68.6			—			68.6
Other comprehensive loss, net of tax	(45.7		)	(2.5		)	(48.2		)
Ending balance, net of tax	$	41.1		$	(6.0	)	$	35.1

During the nine months ended September 30, 2016, we reclassified approximately $6.0 million of losses related to cumulative foreign currency translation adjustments from accumulated other comprehensive income into other operational expenses upon the substantial liquidation of our foreign subsidiary, Stone Energy Canada ULC.