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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income taxes | Income Taxes The components of income before income taxes from continuing operations for each of the years ended December 31 were as follows:
| 2016 |  | 2015 |  | 2014 |
|  | (In thousands) |  |
United States | $ | 326,252 |  | $ | 248,379 |  | $ | 249,501 |
Foreign | (24 | ) | (1,326 | ) | (52 | )
Income before income taxes from continuing operations | $ | 326,228 |  | $ | 247,053 |  | $ | 249,449 |
Income tax expense from continuing operations for the years ended December 31 was as follows:
| 2016 |  | 2015 |  | 2014 |
|  | (In thousands) |  |
Current: |  |  |
Federal | $ | 81,989 |  | $ | 85,897 |  | $ | 8,837 |
State | 13,190 |  | 10,093 |  | 622 |
Foreign | 2 |  | 30 |  | — |
| 95,181 |  | 96,020 |  | 9,459 |
Deferred: |  |  |  |  |  |
Income taxes: |  |  |  |  |
Federal | (2,102 | ) | (19,632 | ) | 52,041 |
State | 1,184 |  | (5,304 | ) | 1,913 |
Investment tax credit - net | (1,131 | ) | (420 | ) | 1,009 |
| (2,049 | ) | (25,356 | ) | 54,963 |
Total income tax expense | $ | 93,132 |  | $ | 70,664 |  | $ | 64,422 |
Components of deferred tax assets and deferred tax liabilities at December 31 were as follows:
| 2016 |  | 2015 |
| (In thousands)
Deferred tax assets: |  |
Postretirement | $ | 87,872 |  | $ | 97,666 |
Compensation-related | 44,995 |  | 33,714 |
Alternative minimum tax credit carryforward | 29,338 |  | 28,169 |
Federal renewable energy credit | 16,944 |  | 3,400 |
Customer advances | 13,524 |  | 12,623 |
Legal and environmental contingencies | 9,895 |  | 6,377 |
Asset retirement obligations | 8,867 |  | 8,694 |
Other | 46,957 |  | 43,306 |
Total deferred tax assets | 258,392 |  | 233,949 |
Deferred tax liabilities: |  |  |  |
Depreciation and basis differences on property, plant and equipment | 774,838 |  | 756,444 |
Postretirement | 70,670 |  | 71,835 |
Intangible asset amortization | 26,413 |  | 23,950 |
Other | 45,580 |  | 36,359 |
Total deferred tax liabilities | 917,501 |  | 888,588 |
Valuation allowance | 9,117 |  | 8,990 |
Net deferred income tax liability | $ | 668,226 |  | $ | 663,629 |
As of December 31, 2016 and 2015, the Company had various state income tax net operating loss carryforwards of $114.7 million and $116.2 million, respectively, and federal and state income tax credit carryforwards, excluding alternative minimum tax credit carryforwards, of $43.3 million and $21.3 million, respectively. Included in the state credits are various regulatory investment tax credits of approximately $20.7 million and $13.9 million at December 31, 2016 and 2015, respectively. The federal income tax credit carryforwards expire in 2036 and 2037 if not utilized and state income tax credit carryforwards are due to expire between 2019 and 2042. It is likely that a portion of the benefit from the state carryforwards will not be realized; therefore, valuation allowances have been provided. Changes in tax regulations or assumptions regarding current and future taxable income could require additional valuation allowances in the future. The alternative minimum tax credit carryforwards do not expire. For information regarding net operating loss carryforwards and valuation allowances related to discontinued operations, see Note 2. The following table reconciles the change in the net deferred income tax liability from December 31, 2015, to December 31, 2016, to deferred income tax expense:
| 2016 |
(In thousands) |
Change in net deferred income tax liability from the preceding table | $ | 4,597 |
Deferred taxes associated with other comprehensive income | (825 | )
Other | (5,821 | )
Deferred income tax benefit for the period | $ | (2,049 | )
Total income tax expense differs from the amount computed by applying the statutory federal income tax rate to income before taxes. The reasons for this difference were as follows:
Years ended December 31, | 2016 | 2015 | 2014
| Amount |  | % |  | Amount |  | % |  | Amount |  | % |
| (Dollars in thousands)
Computed tax at federal statutory rate | $ | 114,179 |  | 35.0 |  | $ | 86,468 |  | 35.0 |  | $ | 87,308 |  | 35.0 |
Increases (reductions) resulting from: |  |  |  |  |  |  |  |
State income taxes, net of federal income tax | 9,027 |  | 2.8 |  | 8,208 |  | 3.3 |  | 7,019 |  | 2.8 |
Federal renewable energy credit | (13,544 | ) | (4.2 | ) | (3,400 | ) | (1.4 | ) | (3,655 | ) | (1.5 | )
Tax compliance and uncertain tax positions | (3,028 | ) | (.9 | ) | (2,607 | ) | (1.0 | ) | (8,568 | ) | (3.4 | )
Domestic production activities | (6,251 | ) | (1.9 | ) | (6,842 | ) | (2.8 | ) | (3,993 | ) | (1.6 | )
Other | (7,251 | ) | (2.3 | ) | (11,163 | ) | (4.5 | ) | (13,689 | ) | (5.5 | )
Total income tax expense | $ | 93,132 |  | 28.5 |  | $ | 70,664 |  | 28.6 |  | $ | 64,422 |  | 25.8 |
Deferred income taxes have been accrued with respect to temporary differences related to the Company's foreign operations. The amount of cumulative undistributed earnings for which there are temporary differences is approximately $2.4 million at December 31, 2016. The amount of deferred tax liability, net of allowable foreign tax credits, associated with the undistributed earnings at December 31, 2016, was approximately $889,000. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state, local and foreign jurisdictions. The Company is no longer subject to U.S. federal or non-U.S. income tax examinations by tax authorities for years ending prior to 2012. With few exceptions, as of December 31, 2016, the Company is no longer subject to state and local income tax examinations by tax authorities for years ending prior to 2011. A reconciliation of the unrecognized tax benefits (excluding interest) for the years ended December 31 was as follows:
| 2016 |  | 2015 |  | 2014 |
|  | (In thousands) |  |
Balance at beginning of year | $ | — |  | $ | 105 |  | $ | 7,845 |
Settlements | — |  | — |  | (7,740 | )
Lapse of statute of limitations | — |  | (105 | ) | — |
Balance at end of year | $ | — |  | $ | — |  | $ | 105 |
Included in income tax expense is interest on uncertain tax positions. For the years ended December 31, 2016, 2015 and 2014, the Company recognized approximately $(92,000), $122,000 and $387,000, respectively, of interest (income) expense in income tax expense. At December 31, 2016 and 2015, the Company had accrued receivables of approximately $54,000 and interest payable of $94,000, respectively, for the receipt or payment of interest.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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