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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Summary of income tax expense

		Year Ended December 31,
(In thousands)		2012			2011			2010
Current
Federal		$	24,618		$	39,749		$	29,879
State			563			(1,714	)		3,424
Total			25,181			38,035			33,303
Deferred
Federal			57,704			46,599			37,981
State			23,225			28,145			23,828
Total			80,929			74,744			61,809
Total income tax expense		$	106,110		$	112,779		$	95,112

Schedule of reconciliation of actual provision for income taxes and provision for income taxes computed by applying the statutory federal income tax rate

		Year Ended December 31,
(Dollars in thousands)		2012			2011			2010
Statutory federal income tax rate			35%			35%			35%
Computed "expected" federal income tax		$	83,244		$	82,316		$	69,475
State income tax, net of federal income tax benefit			9,609			8,989			6,638
Deferred tax adjustment related to change in overall state tax rate			13,596			19,068			18,973
Other, net			(339	)		2,406			26
Total income tax expense		$	106,110		$	112,779		$	95,112

Schedule of deferred tax liabilities and deferred tax assets

		December 31,
(In thousands)		2012			2011
Deferred Tax Liabilities
Property, plant and equipment		$	1,204,735		$	1,068,762
Hedging liabilities / receivables			19,915			68,670
Prepaid expenses and other			736			9,261
Total			1,225,386			1,146,693
Deferred Tax Assets
Alternative minimum tax credit			125,862			101,290
Net operating loss			137,422			113,496
Foreign tax credits			4,923			4,685
Pension and other post-retirement benefits			16,498			19,892
Items accrued for financial reporting purposes and other			52,806			49,606
Total			337,511			288,969
Net deferred tax liabilities		$	887,875		$	857,724

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

		Year Ended December 31,
(In thousands)		2012			2011			2010
Unrecognized tax benefit balance at beginning of year		$	—		$	—		$	500
Additions based on tax provisions related to the current year			—			—			—
Additions for tax positions of prior years			—			—			—
Reductions for tax positions of prior years			—			—			(500	)
Settlements			—			—			—
Unrecognized tax benefit balance at end of year		$	—		$	—		$	—

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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

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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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

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-Name Accounting Standards Codification

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

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-Name FASB Interpretation (FIN)

-Number 48

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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