Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Income tax expense reconciliation

Income tax expense differs from the amount computed by applying the statutory rate on book income subject to tax for the following reasons:

	(Thousands of Dollars)
	Years Ended December 31,
	2012			2011			2010
Income Tax at Statutory Rate	$	7,420		$	6,816		$	7,224
Tax Effect of:
Utility Plant Related		(442	)		(620	)		(826	)
State Income Taxes – Net		420			305			336
Employee Benefits		(23	)		1			33
Other		8			25			19
Total Income Tax Expense	$	7,383		$	6,527		$	6,786

Income tax expense

Income tax expense is comprised of the following:

	(Thousands of Dollars)
	Years Ended December 31,
	2012			2011			2010
Current:
Federal	$	2,994		$	3,550		$	5,584
State		430			395			481
Deferred:
Federal		3,832			2,594			770
State		206			67			30
Investment Tax Credits		(79	)		(79	)		(79	)
Total Income Tax Expense	$	7,383		$	6,527		$	6,786

Deferred tax liability

The components of the net deferred tax liability are as follows:

	(Thousands of Dollars)
	December 31,
	2012			2011
Utility Plant Related	$	39,020		$	35,135
Customer Advances		(3,673	)		(3,737	)
Employee Benefits		6,523			6,342
Investment Tax Credits (ITC)		1,068			1,146
Other		(94	)		(718	)
Total Deferred Tax Liability and ITC	$	42,844		$	38,168