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Income Tax
6 Months Ended
Jun. 30, 2011
Disclosure Income Tax [Abstract]  
Income Tax Text Block

10.        Income Tax

 

The effective income tax rate for the six months ended June 30, 2011 and 2010 varied from the combined federal and state statutory tax rates principally due to the following:

  June 30,
 2011  2010 
Federal statutory tax rate 35.0%  35.0%
Increase (decrease):     
 Current state income tax, net of federal tax benefit 4.5%  4.8%
 Amortization of investment and energy tax credits (0.4)%  (0.4)%
 Differences required to be flowed-through by regulatory commissions 1.6%  1.4%
 Gains on company and trust-owned life insurance (0.6)%  (0.4)%
 Other - net 0.3%  0.1%
Effective income tax rate 40.4%  40.5%

The decrease in our effective tax rate for the six months ended June 30, 2011 compared to the same period in 2010 was negligible and primarily due to a change in state income tax rates. See Note 10 in our 2010 Form 10-K.