XML 54 R92.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Provision for Income Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Provision for Income Taxes [Abstract]      
Maximum percent of qualifying income for publicly traded partnerships to be treated as corporations 90.00%    
Current portion of income tax provision (benefit):      
Federal $ (1.3) $ 5.3 $ 0.1
State 25.7 33.1 18.5
Foreign 1.2 0.5 1.0
Total current portion 25.6 38.9 19.6
Deferred portion of income tax provision (benefit):      
Federal 1.6 (0.3) (1.8)
State 18.5 21.7 7.9
Foreign (0.1) 0.0 0.0
Total deferred portion 20.0 21.4 6.1
Total provision for income taxes 45.6 60.3 25.7
Reconciliation of the provision for (benefit from) income taxes [Abstract]      
Pre-Tax Net Book Income ("NBI") 4,732.7 4,298.8 2,881.3
Texas Margin Tax [1] 44.2 54.8 26.4
State income taxes (net of federal benefit) 0.5 0.2 0.5
Federal income taxes computed by applying the federal statutory rate to NBI of corporate entities 0.9 2.1 0.1
Other permanent differences 0.0 3.2 (1.3)
Total provision for income taxes $ 45.6 $ 60.3 $ 25.7
Effective income tax rate 1.00% 1.40% 0.90%
Deferred tax liabilities:      
Attributable to property, plant and equipment $ 100.2 $ 80.8  
Attributable to investments in partnerships 3.3 2.3  
Total deferred tax liabilities 103.5 83.1  
Less: Deferred tax assets:      
Net operating loss carryovers [2] 0.1 0.1  
Temporary differences related to Texas Margin Tax 3.0 2.6  
Total deferred tax assets 3.1 2.7  
Total net deferred tax liabilities $ 100.4 $ 80.4  
[1] Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses.
[2] These losses expire in various years between 2020 and 2037 and are subject to limitations on their utilization.