Table of Contents EL PASO ELECTRIC COMPANY NOTES TO FINANCIAL STATEMENTS I. Accumulated Other Comprehensive Income (Loss) Upon adoption of ASU 2016-01, Financial Instruments-Overall, the Company recorded, on January 1, 2018, a cumulative effect adjustment, net of income taxes, to increase retained earnings by $41.0 million with an offset to AOCI. Changes in Accumulated Other Comprehensive Income (Loss) (net of tax) by component are presented below (in thousands): Unrecognized Pension and Post- retirement Benefit Costs Net Unrealized Gains (Losses) on Marketable Securities Net Losses on Cash Flow Hedges Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2016 $ (23,928 ) $ 28,463 $ (11,651 ) $ (7,116 ) Other comprehensive income before reclassifications 7,951 20,251 — 28,202 Amounts reclassified from accumulated other comprehensive income (loss) (1,813 ) (8,524 ) 309 (10,028 ) Balance at December 31, 2017 (17,790) 40,190 (11,342) 11,058 Cumulative effect adjustment — (41,028 ) — (41,028 ) Other comprehensive loss before reclassifications (4,589) (3,240) — (7,829) Amounts reclassified from accumulated other comprehensive income (loss) (2,544 ) 1,136 423 (985 ) Balance at December 31, 2018 (24,923) (2,942) (10,919) (38,784) Other comprehensive income (loss) before reclassifications (9,424 ) 4,655 — (4,769 ) Amounts reclassified from accumulated other comprehensive income (loss) (4,144) (1,713) 458 (5,399) Balance at December 31, 2019 $ (38,491 ) $ — $ (10,461 ) $ (48,952 ) 84