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Income Tax Expense (Tables) | 6 Months Ended
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Jun. 30, 2020
Income Tax Disclosure [Abstract] |
Income Tax Expense [Table Text Block] |
|  | Quarter Ended |  |  |  | Six Months Ended |  |
|  | June 30, |  |  |  | June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Millions |  |  |  |  |  |  |  |
Current Income Tax Expense (a) |  |  |  |  |  |  |  |
Federal |  | — |  |  | — |  |  | — |  |  | — |
State |  | — |  |  | $(0.1) |  | — |  |  | $0.2 |
Total Current Income Tax Expense (Benefit) |  | — |  |  | $(0.1) |  | — |  |  | $0.2 |
Deferred Income Tax Expense (Benefit) |  |  |  |  |  |  |  |
Federal (b) |  | $(8.6) |  | $(7.1) |  | $(26.2) |  | $(16.8)
State (c) |  | 0.2 |  |  | 2.5 |  |  | 4.2 |  |  | 15.0 |
Investment Tax Credit Amortization |  | (0.1) |  |  | (0.1) |  |  | (0.3) |  |  | (0.3) |
Total Deferred Income Tax Benefit |  | $(8.5) |  | $(4.7) |  | $(22.3) |  | $(2.1)
Total Income Tax Benefit |  | $(8.5) |  | $(4.8) |  | $(22.3) |  | $(1.9)
(a)For each of the six months ended June 30, 2020 and 2019, the federal and state current tax expense was minimal due to NOLs which resulted from the bonus depreciation provisions of certain tax legislation. Federal and state NOLs are being carried forward to offset current and future taxable income. (b)For each of the six months ended June 30, 2020 and 2019, the federal income tax benefit is primarily due to production tax credits. (c)For the six months ended June 30, 2019, the state income tax expense is primarily related to the sale of U.S. Water Services.
Reconciliation of Taxes from Federal Statutory Rate to Total Income Tax Expense [Table Text Block] |
| Quarter Ended |  |  | Six Months Ended |  |
Reconciliation of Taxes from Federal Statutory | June 30, |  |  | June 30, |  |
Rate to Total Income Tax Expense | 2020 |  | 2019 | 2020 |  | 2019
Millions |  |  |  |  |  |
Income Before Income Taxes | $8.4 |  |  | $29.4 |  | $59.1 |  |  | $102.8 |
Statutory Federal Income Tax Rate | 21 | % |  | 21 | % | 21 | % |  | 21 | %
Income Taxes Computed at Statutory Federal Rate | $1.7 |  |  | $6.2 |  | $12.4 |  |  | $21.6 |
Increase (Decrease) in Income Tax Due to: |  |  |  |  |  |
State Income Taxes – Net of Federal Income Tax Benefit | 0.1 |  |  | 1.9 |  | 3.3 |  |  | 12.0 |
Production Tax Credits | (9.6) |  |  | (9.8) |  | (33.4) |  |  | (26.1) |
Regulatory Differences – Excess Deferred Tax | (0.9) |  |  | (1.6) |  | (5.3) |  |  | (4.8) |
U.S. Water Services Sale of Stock Basis Difference | — |  |  | (0.7) |  | — |  |  | 1.7 |
Share-Based Compensation | — |  |  | — |  | (0.1) |  |  | (0.9) |
Other | 0.2 |  |  | (0.8) |  | 0.8 |  |  | (5.4) |
Total Income Tax Benefit | $(8.5) |  | $(4.8) | $(22.3) |  | $(1.9)

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- 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
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- 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
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