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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

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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.

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