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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
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) | 2021 |  | 2020 |  | 2019
Income Taxes |  |  |  |  |
Current |  |  |  |  |
Federal | $ | (0.1) |  |  | $ | 0.2 |  |  | $ | — |
State | 6.0 |  |  | 11.7 |  |  | 5.2 |
Total Current | 5.9 |  |  | 11.9 |  |  | 5.2 |
Deferred |  |  |  |  |
Federal | 99.2 |  |  | (0.4) |  |  | 110.7 |
State | 13.8 |  |  | (27.4) |  |  | 9.0 |
Total Deferred | 113.0 |  |  | (27.8) |  |  | 119.7 |
Deferred Investment Credits | (1.1) |  |  | (1.2) |  |  | (1.4) |
Income Taxes | $ | 117.8 |  |  | $ | (17.1) |  |  | $ | 123.5 |
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) | 2021 |  | 2020 |  | 2019
Book income (loss) before income taxes | $ | 706.6 |  |  |  |  | $ | (31.3) |  |  |  |  | $ | 506.6 |  |  |
Tax expense (benefit) at statutory federal income tax rate | 148.3 |  |  | 21.0 | % |  | (6.6) |  |  | 21.0 | % |  | 106.5 |  |  | 21.0 | %
Increases (reductions) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit | 14.1 |  |  | 2.0 |  |  | (11.7) |  |  | 37.4 |  |  | 10.1 |  |  | 2.0 |
Amortization of regulatory liabilities | (39.1) |  |  | (5.5) |  |  | (38.4) |  |  | 122.7 |  |  | (29.4) |  |  | (5.8) |
Goodwill impairment | — |  |  | — |  |  | — |  |  | — |  |  | 43.0 |  |  | 8.5 |
Fines and penalties | — |  |  | — |  |  | 11.8 |  |  | (37.7) |  |  | 11.5 |  |  | 2.3 |
Charitable contribution carryover | — |  |  | — |  |  | — |  |  | — |  |  | (2.5) |  |  | (0.5) |
State regulatory proceedings | — |  |  | — |  |  | — |  |  | — |  |  | (9.5) |  |  | (1.9) |
Employee stock ownership plan dividends and other compensation | (1.2) |  |  | (0.2) |  |  | (1.3) |  |  | 4.2 |  |  | (2.0) |  |  | (0.4) |
Deferred taxes on TCJA regulatory liability divested | — |  |  | — |  |  | 23.3 |  |  | (74.5) |  |  | — |  |  | — |
Tax accrual adjustments | (0.1) |  |  | — |  |  | 8.9 |  |  | (28.4) |  |  | — |  |  | — |
Federal tax credits | (2.1) |  |  | (0.3) |  |  | (2.5) |  |  | 8.0 |  |  | — |  |  | — |
Other adjustments | (2.1) |  |  | (0.3) |  |  | (0.6) |  |  | 1.9 |  |  | (4.2) |  |  | (0.8) |
Income Taxes | $ | 117.8 |  |  | 16.7 | % |  | $ | (17.1) |  |  | 54.6 | % |  | $ | 123.5 |  |  | 24.4 | %
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) | 2021 |  | 2020
Deferred tax liabilities |  |  |
Accelerated depreciation and other property differences | $ | 2,454.4 |  |  | $ | 2,339.3 |
Other regulatory assets | 308.6 |  |  | 331.8 |
Total Deferred Tax Liabilities | 2,763.0 |  |  | 2,671.1 |
Deferred tax assets |  |  |
Other regulatory liabilities and deferred investment tax credits (including TCJA) | 284.7 |  |  | 287.8 |
Pension and other postretirement/postemployment benefits | 104.8 |  |  | 118.1 |
Net operating loss carryforward and AMT credit carryforward | 545.9 |  |  | 608.5 |
Environmental liabilities | 22.2 |  |  | 22.6 |
Other accrued liabilities | 42.1 |  |  | 41.5 |
Other, net | 111.7 |  |  | 128.4 |
Total Deferred Tax Assets | 1,111.4 |  |  | 1,206.9 |
Valuation Allowance | (7.8) |  |  | (6.4) |
Net Deferred Tax Assets | 1,103.6 |  |  | 1,200.5 |
Net Deferred Tax Liabilities | $ | 1,659.4 |  |  | $ | 1,470.6 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
At December 31, 2021, (in millions) | 2021 |  | 2020 |  | 2019
Opening Balance | $ | 21.7 |  |  | $ | 23.2 |  |  | $ | 1.2 |
Gross decreases - tax positions in prior period | — |  |  | (1.5) |  |  | (0.6) |
Gross increases - current period tax positions | — |  |  | — |  |  | 22.6 |
Ending Balance | $ | 21.7 |  |  | $ | 21.7 |  |  | $ | 23.2 |
Offset for net operating loss carryforwards | (21.7) |  |  | (21.7) |  |  | (22.6) |
Balance, Less Net Operating Loss Carryforwards | $ | — |  |  | $ | — |  |  | $ | 0.6 |

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