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Income taxes
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income taxes

Note 19. Income taxes

Our consolidated effective income tax rates for the second quarter and first six months of 2020 were 25.4% and 15.7%, respectively, and 20.2% and 20.9% in the second quarter and first six months of 2019, respectively. Our effective income tax rate normally reflects recurring benefits from dividends-received deductions applicable to investments in equity securities and production tax credits related to wind-powered electricity generation placed in service in the U.S. Our periodic effective income tax rate will also vary due to the changes in mix of pre-tax earnings, the magnitude of gains or losses included in earnings with respect to our investments in equity securities and of non-deductible expenses, and the underlying income tax rates applicable in the various taxing jurisdictions.