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Income Taxes, Reconciliation of the Benefit From (Provision For) Income Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Reconciliation of the benefit from (provision for) income taxes [Abstract]      
Pre-Tax Net Book Income ("NBI") $ 3,761.4 $ 4,732.7 $ 4,298.8
Texas Margin Tax [1] (32.1) (44.2) (54.8)
State income tax benefit (provision), net of federal benefit [2] 9.2 (0.5) (0.2)
Federal income tax benefit (provision) computed by applying the federal statutory rate to NBI of corporate entities 80.1 (0.9) (2.1)
Federal benefit attributable to settlement of Liquidity Option [2] 67.8 0.0 0.0
Other differences (0.7) 0.0 (3.2)
Total benefit from (provision for) income taxes $ 124.3 $ (45.6) $ (60.3)
Effective income tax rate 3.30% (1.00%) (1.40%)
[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] The total benefit recognized in income tax expense on March 5, 2020 from settlement of the Liquidity Option was $72.2 million, which is comprised of $4.4 million of state income tax benefit and $67.8 million of federal income tax benefit.