unrealized hedge gain add back

First post -

If I am trying to normalize NI for an oil and gas company I need to do something with their "unrealized hedge gain / loss" on the IS since that is not what they actually realize in cash for the period.

Dumb question and I imagine it is treated the same as an interest expense add back (1-tax rate * expense). Is that the right way to think about that - so you'd still be leaving the tax savings in that NI number and just adding back the adjustment?

Any help would be greatly appreciated in understanding this.