Income Tax Expense (Tables)

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Tax Expense [Table Text Block]

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019			2018
Millions
Current Income Tax Expense (a)
Federal	—		—		—			—
State	—		—			$0.2			$0.4
Total Current Income Tax Expense	—		—			$0.2			$0.4
Deferred Income Tax Expense (Benefit)
Federal (b)	$(5.0)		$(2.2)		$(21.8)			$(16.4)
State (c)	2.7		2.8		17.7			7.8
Investment Tax Credit Amortization	(0.1	)	(0.2	)	(0.4		)	(0.5		)
Total Deferred Income Tax Expense (Benefit)	$(2.4)		$0.4		$(4.5)			$(9.1)
Total Income Tax Expense (Benefit)	$(2.4)		$0.4		$(4.3)			$(8.7)

(a) For each of the nine months ended September 30, 2019, and 2018, the federal and state current tax expense was minimal due to NOLs which resulted from the bonus depreciation provisions of the Protecting Americans from Tax Hikes Act of 2015, the Tax Increase Prevention Act of 2014 and the American Taxpayer Relief Act of 2012. Federal and state NOLs are being carried forward to offset current and future taxable income.

(b) For each of the nine months ended September 30, 2019, and 2018, the federal income tax benefit is primarily due to production tax credits.

(c) For the nine months ended September 30, 2019, the state income tax expense is primarily due to the sale of U.S. Water Services.

Reconciliation of Taxes from Federal Statutory Rate to Total Income Tax Expense [Table Text Block]

	Quarter Ended						Nine Months Ended
Reconciliation of Taxes from Federal Statutory	September 30,						September 30,
Rate to Total Income Tax Expense	2019			2018			2019			2018
Millions
Income Before Income Taxes		$28.8			$31.1			$131.6			$104.3
Statutory Federal Income Tax Rate	21		%	21		%	21		%	21		%
Income Taxes Computed at Statutory Federal Rate		$6.0			$6.5			$27.6			$21.9
Increase (Decrease) in Income Tax Due to:
State Income Taxes – Net of Federal Income Tax Benefit	2.1			2.2			14.1			6.4
Production Tax Credits	(9.6		)	(9.4		)	(35.7		)	(35.0		)
Regulatory Differences – Excess Deferred Tax	(1.7		)	(1.1		)	(6.5		)	(5.5		)
U.S. Water Services Sale of Stock Basis Difference	—			—			1.7			—
Share-Based Compensation	—			—			(0.9		)	(0.5		)
Other	0.8			2.2			(4.6		)	4.0
Total Income Tax Expense (Benefit)	$(2.4)			$0.4			$(4.3)			$(8.7)