Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income TaxesThe reconciliation of the statutory federal income tax rate to our effective tax rate for each of the three and nine months ended September 30, 2023 and 2022 is as follows:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2023				2022				2023				2022
Income Taxes at Federal Statutory Rate	$	24,508	21.0	%	$	22,418	21.0	%	$	61,849	21.0	%	$	64,748	21.0	%
Increases (Decreases) in Tax from:
State Taxes on Income, Net of Federal Tax	5,832		5.0		5,338		5.0		14,725		5.0		15,416		5.0
Production Tax Credits (PTCs)	(5,192)		(4.4)		(3,828)		(3.6)		(14,421)		(4.9)		(12,514)		(4.1)
Amortization of Excess Deferred Income Taxes	(741)		(0.6)		(955)		(0.9)		(2,161)		(0.7)		(2,033)		(0.7)
North Dakota Wind Tax Credit Amortization, Net of Federal Tax	(220)		(0.2)		(150)		(0.1)		(530)		(0.2)		(505)		(0.2)
Corporate-Owned Life Insurance	(120)		(0.1)		241		0.2		(998)		(0.3)		1,383		0.4
Other, Net	660		0.5		(551)		(0.5)		(371)		(0.2)		(352)		0.1
Income Tax Expense / Effective Tax Rate	$	24,727	21.2	%	$	22,513	21.1	%	$	58,093	19.7	%	$	66,143	21.5	%