MDU RESOURCES GROUP INC
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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14. Accumulated Other Comprehensive Loss
Index
Note 14 -Accumulated Other Comprehensive Loss
The Company's accumulated other comprehensive loss is comprised of losses on derivative instruments qualifying as hedges, postretirement liability adjustments and gain (loss) on available-for-sale investments.
The after-tax changes in the components of accumulated other comprehensive loss were as follows:
| NetUnrealizedLoss onDerivative Instruments Qualifyingas Hedges | Post-retirement LiabilityAdjustment | NetUnrealizedGain (Loss) onAvailable-for-saleInvestments | TotalAccumulated OtherComprehensive Loss | |
|---|---|---|---|---|
| (In thousands) | ||||
| At December 31, 2022 | $(125) | $(29,900) | $(558) | $(30,583) |
| Other comprehensive income (loss) before reclassifications | — | (646) | 173 | (473) |
| Amounts reclassified from accumulated other comprehensive loss | 81 | 242 | 43 | 366 |
| Net current-period other comprehensive income (loss) | 81 | (404) | 216 | (107) |
| Amounts reclassified related to the separation of Knife River | 44 | 12,262 | — | 12,306 |
| At December 31, 2023 | — | (18,042) | (342) | (18,384) |
| Other comprehensive income before reclassifications | — | 1,049 | 85 | 1,134 |
| Amounts reclassified from accumulated other comprehensive loss | — | 432 | 20 | 452 |
| Net current-period other comprehensive income | — | 1,481 | 105 | 1,586 |
| At December 31, 2024 | $— | $(16,561) | $(237) | $(16,798) |
The following amounts were reclassified out of accumulated other comprehensive loss into net income. The amounts presented in parentheses indicate a decrease to net income on the Consolidated Statements of Income. The reclassifications for the years ended December 31 were as follows:
| 2024 | 2023 | Location on ConsolidatedStatements of Income | |
|---|---|---|---|
| (In thousands) | |||
| Reclassification adjustment for loss on derivative instruments included in net income | $— | $(96) | Interest expense |
| — | 15 | Income taxes | |
| — | (81) | ||
| Amortization of postretirement liability losses included in net periodic benefit credit | (577) | (320) | Other income |
| 145 | 78 | Income taxes | |
| (432) | (242) | ||
| Reclassification adjustment on available-for-sale investments included in net income | (25) | (54) | Other income |
| 5 | 11 | Income taxes | |
| (20) | (43) | ||
| Total reclassifications | $(452) | $(366) | |
MDU Resources Group, Inc. Form 10-K 87
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