Income Tax Expense (Tables)

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense [Table Text Block]

	Three Months Ended
	March 31,
	2020		2019
Millions
Current Income Tax Expense (a)
Federal	—		—
State	—			$0.3
Total Current Income Tax Expense	—			$0.3
Deferred Income Tax Expense (Benefit)
Federal (b)	$(17.6)		$(9.7)
State (c)	4.0		12.5
Investment Tax Credit Amortization	(0.2	)	(0.2		)
Total Deferred Income Tax Expense (Benefit)	$(13.8)			$2.6
Total Income Tax Expense (Benefit)	$(13.8)			$2.9

(a) For each of the three months ended March 31, 2020, and 2019, 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 three months ended March 31, 2020, and 2019, the federal income tax benefit is primarily due to production tax credits.

(c) For the three months ended March 31, 2019, the state income tax expense is primarily related to the sale of U.S. Water Services.

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

	Three Months Ended
Reconciliation of Taxes from Federal Statutory	March 31,
Rate to Total Income Tax Expense	2020			2019
Millions
Income Before Income Taxes		$50.7			$73.4
Statutory Federal Income Tax Rate	21		%	21		%
Income Taxes Computed at Statutory Federal Rate		$10.6			$15.4
Increase (Decrease) in Income Tax Due to:
State Income Taxes – Net of Federal Income Tax Benefit	3.2			10.1
Production Tax Credits	(23.8		)	(16.3		)
Regulatory Differences – Excess Deferred Tax	(4.4		)	(3.2		)
U.S. Water Services Sale of Stock Basis Difference	—			2.4
Share-Based Compensation	(0.1		)	(0.9		)
Other	0.7			(4.6		)
Total Income Tax Expense (Benefit)	$(13.8)			$2.9