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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Taxes [Abstract]  
Schedule Of Provision For Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2012

 

2011

 

2010

Current:

 

 

 

 

 

 

 Federal

$

(13,854)

$

(936)

$

(7,437)

 State

 

3,172 

 

(2,063)

 

12,148 

 

 

(10,682)

 

(2,999)

 

4,711 

Deferred:

 

 

 

 

 

 

 Federal

 

67,743 

 

76,479 

 

68,644 

 State

 

9,820 

 

(4,369)

 

1,585 

 

 

77,563 

 

72,110 

 

70,229 

 

 

 

 

 

 

 

Total tax expense

$

66,881 

$

69,111 

$

74,940 

 

Schedule Of Reasons For Differences Between Statutory Federal Income Tax Rate To Income Before Income Tax Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

Computed Federal tax expense at statutory rate

$

87,839 

$

73,778 

$

66,962 

Decrease in tax expense related to repair tax accounting change

 

(28,948)

 

 -

 

 -

State income taxes, net of federal tax benefit

 

8,445 

 

(4,180)

 

8,926 

Increase in tax expense for depreciation expense

 

 

 

 

 

 

  to be recovered in future rates

 

361 

 

551 

 

210 

Stock-based compensation

 

(386)

 

(355)

 

(67)

Deduction for Aqua America common dividends

 

 

 

 

 

 

  paid under employee benefit plan

 

(387)

 

(345)

 

(374)

Amortization of deferred investment tax credits

 

(420)

 

(340)

 

(333)

Other, net

 

377 

 

 

(384)

Actual income tax expense

$

66,881 

$

69,111 

$

74,940 

 

Schedule Of Deferred Tax Assets And Liabilities

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

2012

2011

Deferred tax assets:

 

 

 

 

Customers' advances for construction

$

26,820 

$

17,650 

Costs expensed for book not deducted

 

 

 

 

for tax, principally accrued expenses

 

13,124 

 

1,105 

Utility plant acquisition adjustment

 

 

 

 

basis differences

 

12,496 

 

11,614 

Post-retirement benefits

 

35,955 

 

36,141 

Tax loss carryfoward

 

111,452 

 

47,860 

Other

 

2,360 

 

2,183 

 

 

202,207 

 

116,553 

Less valuation allowance

 

7,506 

 

8,639 

 

 

194,701 

 

107,914 

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

Utility plant, principally due to

 

 

 

 

depreciation and differences in the basis

 

 

 

 

of fixed assets due to variation in tax

 

 

 

 

and book accounting

 

772,006 

 

580,405 

Deferred taxes associated with the gross-up 

 

 

 

 

of revenues necessary to recover, in rates,

 

 

 

 

the effect of temporary differences

 

66,361 

 

43,710 

Tax effect of regulatory asset for

 

 

 

 

post-retirement benefits

 

35,955 

 

36,141 

Deferred investment tax credit

 

5,928 

 

6,544 

 

 

880,250 

 

666,800 

 

 

 

 

 

Net deferred tax liability

$

685,549 

$

558,886