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INCOME TAXES
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES

13. INCOME TAXES

 

The effective income tax rates for the three months ended September 30, 2025 and 2024 were 27.2% and 17.7%, respectively, and for the nine months ended September 30, 2025 and 2024 were 22.9% and 22.3%, respectively.

 

The period-over-period increase in the effective income tax rate for the three months ended was due to higher US minimum tax, the prior year tax benefits relating to the state apportionment income tax rate change due to the PSNC Acquisition (Note 6), and certain rate-regulated adjustments, partially offset by higher US investment tax credits relative to the decrease in earnings over the comparative periods.

 

The period-over-period increase in the effective income tax rates for the nine-months ended was due to higher US minimum tax, the prior year tax benefits relating to the state apportionment income tax rate change due to the Acquisitions (Note 6), the non-taxable portion of the gain on the prior year disposition of Alliance Pipeline and Aux Sable (Note 6), and certain rate-regulated adjustments, partially offset by higher US investment tax credits and the prior year write-down of non-deductible goodwill on the Gas Transmission segment relative to the increase in earnings over the comparative periods.