XML 66 R48.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule Of Components Of Income Tax Expense | The components of income tax expense (benefit) were as follows:
Year Ended December 31, (in millions) | 2020 |  | 2019 |  | 2018
Income Taxes |  |  |  |  |
Current |  |  |  |  |
Federal | $ | 0.2 |  |  | $ | — |  |  | $ | — |
State | 11.7 |  |  | 5.2 |  |  | 8.2 |
Total Current | 11.9 |  |  | 5.2 |  |  | 8.2 |
Deferred |  |  |  |  |
Federal | (0.4) |  |  | 110.7 |  |  | (209.4) |
State | (27.4) |  |  | 9.0 |  |  | 22.2 |
Total Deferred | (27.8) |  |  | 119.7 |  |  | (187.2) |
Deferred Investment Credits | (1.2) |  |  | (1.4) |  |  | (1.0) |
Income Taxes | $ | (17.1) |  |  | $ | 123.5 |  |  | $ | (180.0) |
Schedule Of Reasons Behind Differences In Computation Of Total Income Taxes | The following table represents a reconciliation of income tax expense at the statutory federal income tax rate to the actual income tax expense from continuing operations:
Year Ended December 31, (in millions) | 2020 |  | 2019 |  | 2018
Book income (loss) before income taxes | $ | (31.3) |  |  |  |  | $ | 506.6 |  |  |  |  | $ | (230.6) |  |  |
Tax expense (benefit) at statutory federal income tax rate | (6.6) |  |  | 21.0 | % |  | 106.5 |  |  | 21.0 | % |  | (48.4) |  |  | 21.0 | %
Increases (reductions) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit | (11.7) |  |  | 37.4 |  |  | 10.1 |  |  | 2.0 |  |  | 24.7 |  |  | (10.7) |
Amortization of regulatory liabilities | (38.4) |  |  | 122.7 |  |  | (29.4) |  |  | (5.8) |  |  | (29.3) |  |  | 12.7 |
Goodwill impairment | — |  |  | — |  |  | 43.0 |  |  | 8.5 |  |  | — |  |  | — |
Fines and penalties | 11.8 |  |  | (37.7) |  |  | 11.5 |  |  | 2.3 |  |  | 0.2 |  |  | (0.1) |
Charitable contribution carryover | — |  |  | — |  |  | (2.5) |  |  | (0.5) |  |  | — |  |  | — |
State regulatory proceedings | — |  |  | — |  |  | (9.5) |  |  | (1.9) |  |  | (127.8) |  |  | 55.4 |
Employee stock ownership plan dividends and other compensation | (1.3) |  |  | 4.2 |  |  | (2.0) |  |  | (0.4) |  |  | (2.2) |  |  | 1.0 |
Deferred taxes on TCJA regulatory liability divested | 23.3 |  |  | (74.5) |  |  | — |  |  | — |  |  | — |  |  | — |
Tax accrual adjustments | 8.9 |  |  | (28.4) |  |  | — |  |  | — |  |  | — |  |  | — |
Federal tax credits | (2.5) |  |  | 8.0 |  |  | — |  |  | — |  |  | — |  |  | — |
Other adjustments | (0.6) |  |  | 1.9 |  |  | (4.2) |  |  | (0.8) |  |  | 2.8 |  |  | (1.2) |
Income Taxes | $ | (17.1) |  |  | 54.6 | % |  | $ | 123.5 |  |  | 24.4 | % |  | $ | (180.0) |  |  | 78.1 | %
Schedule Of Principal Components Of Net Deferred Tax Liability | Deferred income taxes result from temporary differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. The principal components of our net deferred tax liability were as follows:
At December 31, (in millions) | 2020 |  | 2019
Deferred tax liabilities |  |  |
Accelerated depreciation and other property differences | $ | 2,339.3 |  |  | $ | 2,516.9 |
Other regulatory assets | 331.8 |  |  | 381.5 |
Total Deferred Tax Liabilities | 2,671.1 |  |  | 2,898.4 |
Deferred tax assets |  |  |
Other regulatory liabilities and deferred investment tax credits (including TCJA) | 287.8 |  |  | 336.1 |
Pension and other postretirement/postemployment benefits | 118.1 |  |  | 152.1 |
Net operating loss carryforward and AMT credit carryforward | 602.1 |  |  | 765.9 |
Environmental liabilities | 22.6 |  |  | 25.4 |
Other accrued liabilities | 41.5 |  |  | 35.3 |
Other, net | 128.4 |  |  | 98.3 |
Total Deferred Tax Assets | 1,200.5 |  |  | 1,413.1 |
Net Deferred Tax Liabilities | $ | 1,470.6 |  |  | $ | 1,485.3 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
Reconciliation of Unrecognized Tax Benefits (in millions) | 2020 |  | 2019 |  | 2018
Unrecognized Tax Benefits - Opening Balance | $ | 23.2 |  |  | $ | 1.2 |  |  | $ | 1.4 |
Gross decreases - tax positions in prior period | (1.5) |  |  | (0.6) |  |  | (0.4) |
Gross increases - current period tax positions | — |  |  | 22.6 |  |  | 0.2 |
Unrecognized Tax Benefits - Ending Balance | $ | 21.7 |  |  | $ | 23.2 |  |  | $ | 1.2 |
Offset for net operating loss carryforwards | (21.7) |  |  | (22.6) |  |  | — |
Balance - Less Net Operating Loss Carryforwards | $ | — |  |  | $ | 0.6 |  |  | $ | 1.2 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration