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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
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) | 2023 |  | 2022 |  | 2021
Book income before income taxes | $ | 813.9 |  |  |  |  | $ | 956.4 |  |  |  |  | $ | 706.6 |  |  |
Tax expense at statutory federal income tax rate | 170.8 |  |  | 21.0 | % |  | 200.8 |  |  | 21.0 | % |  | 148.3 |  |  | 21.0 | %
Increases (reductions) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit | 13.7 |  |  | 1.7 |  |  | 4.5 |  |  | 0.5 |  |  | 14.1 |  |  | 2.0 |
Amortization of regulatory liabilities | (38.2) |  |  | (4.7) |  |  | (38.5) |  |  | (4.0) |  |  | (39.1) |  |  | (5.5) |
Fines and penalties | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |
Employee stock ownership plan dividends and other compensation | (1.3) |  |  | (0.2) |  |  | (1.2) |  |  | (0.1) |  |  | (1.2) |  |  | (0.2) |
Tax accrual adjustments | — |  |  | — |  |  | 0.2 |  |  | — |  |  | (0.1) |  |  | — |
Federal tax credits | (4.9) |  |  | (0.6) |  |  | (2.3) |  |  | (0.2) |  |  | (2.1) |  |  | (0.3) |
Other adjustments | (0.6) |  |  | (0.1) |  |  | 0.8 |  |  | — |  |  | (2.1) |  |  | (0.3) |
Income Taxes | $ | 139.5 |  |  | 17.1 | % |  | $ | 164.6 |  |  | 17.2 | % |  | $ | 117.8 |  |  | 16.7 | %
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 liabilities were as follows:
At December 31, (in millions) | 2023 |  | 2022
Deferred tax liabilities |  |  |
Accelerated depreciation and other property differences | $ | 1,384.8 |  |  | $ | 2,473.6 |
Partnership basis differences | 1,241.9 |  |  | 54.3 |
Other regulatory assets | 212.1 |  |  | 348.4 |
Total Deferred Tax Liabilities | 2,838.8 |  |  | 2,876.3 |
Deferred tax assets |  |  |
Other regulatory liabilities and deferred investment tax credits (including TCJA) | 182.2 |  |  | 294.3 |
Pension and other postretirement/postemployment benefits | 58.6 |  |  | 124.7 |
Loss and credit carryforwards | 422.9 |  |  | 491.0 |
Environmental liabilities | 10.1 |  |  | 20.7 |
Other accrued liabilities | 40.3 |  |  | 55.9 |
Other, net | 50.7 |  |  | 43.0 |
Total Deferred Tax Assets | 764.8 |  |  | 1,029.6 |
Valuation Allowance | (6.4) |  |  | (7.8) |
Net Deferred Tax Assets | 758.4 |  |  | 1,021.8 |
Net Deferred Tax Liabilities | $ | 2,080.4 |  |  | $ | 1,854.5 |
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, 2023, (in millions) | 2023 |  | 2022 |  | 2021
Opening Balance | $ | 21.7 |  |  | $ | 21.7 |  |  | $ | 21.7 |
Gross decreases - tax positions in prior period | — |  |  | — |  |  | — |
Gross increases - current period tax positions | — |  |  | — |  |  | — |
Ending Balance | $ | 21.7 |  |  | $ | 21.7 |  |  | $ | 21.7 |
Offset for net operating loss carryforwards | (21.7) |  |  | (21.7) |  |  | (21.7) |
Balance, Less Net Operating Loss Carryforwards | $ | — |  |  | $ | — |  |  | $ | — |
Summary of Tax Credit Carryforwards |
At December 31, 2023 (in millions) | Deductible Amount |  | Deferred Tax Asset |  | Valuation Allowance |  | Expiration Period
Federal losses | $ | 1,642.4 |  |  | $ | 344.9 |  |  | $ | — |  |  | 2037
Federal investment tax credits | — |  |  | 2.1 |  |  | — |  |  | 2043
Federal production tax credits | — |  |  | 0.8 |  |  | — |  |  | 2040-2043
Federal other credit | — |  |  | 15.7 |  |  | — |  |  | 2029-2043
State losses, net of federal benefit | 2,371.7 |  |  | 95.1 |  |  | (6.4) |  |  | 2031-2037
Total |  |  | $ | 458.6 |  |  | $ | (6.4) |  |  |

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