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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of income before income taxes | The components of income before income taxes from continuing operations for each of the years ended December 31 were as follows:
| 2019 |  | 2018 |  | 2017 |
| (In thousands)
United States | $ | 398,532 |  | $ | 317,655 |  | $ | 350,064 |
Foreign | (87 | ) | (784 | ) | (37 | )
Income before income taxes from continuing operations | $ | 398,445 |  | $ | 316,871 |  | $ | 350,027 |
Income tax expense | Income tax expense (benefit) from continuing operations for the years ended December 31 was as follows:
| 2019 |  | 2018 |  | 2017 |
| (In thousands)
Current: |  |  |
Federal | $ | (3,502 | ) | $ | (15,901 | ) | $ | 74,272 |
State | 3,366 |  | 3,651 |  | 16,192 |
| (136 | ) | (12,250 | ) | 90,464 |
Deferred: |  |  |
Income taxes: |  |  |
Federal | 50,218 |  | 50,755 |  | (24,497 | )
State | 12,098 |  | 7,206 |  | (864 | )
Investment tax credit - net | 1,099 |  | 1,774 |  | (62 | )
| 63,415 |  | 59,735 |  | (25,423 | )
Total income tax expense | $ | 63,279 |  | $ | 47,485 |  | $ | 65,041 |
Deferred tax assets and deferred tax liabilities | Components of deferred tax assets and deferred tax liabilities at December 31 were as follows:
| 2019 |  | 2018 |
| (In thousands)
Deferred tax assets: |  |
Postretirement | $ | 51,075 |  | $ | 51,930 |
Compensation-related | 37,330 |  | 29,885 |
Operating lease liabilities | 24,459 |  | — |
Asset retirement obligations | 7,450 |  | 7,083 |
Customer advances | 7,325 |  | 7,734 |
Legal and environmental contingencies | 6,601 |  | 6,729 |
Federal renewable energy credit | 5,343 |  | 8,015 |
Alternative minimum tax credit carryforward | — |  | 13,404 |
Other | 32,533 |  | 37,347 |
Total deferred tax assets | 172,116 |  | 162,127 |
Deferred tax liabilities: |  |  |  |
Depreciation and basis differences on property, plant and equipment | 511,867 |  | 476,832 |
Postretirement | 48,927 |  | 44,432 |
Operating lease right-of-use-assets | 24,436 |  | — |
Intangible asset amortization | 18,930 |  | 17,752 |
Other | 61,385 |  | 39,712 |
Total deferred tax liabilities | 665,545 |  | 578,728 |
Valuation allowance | 13,154 |  | 13,484 |
Net deferred income tax liability | $ | 506,583 |  | $ | 430,085 |
Schedule of change in net deferred income tax liability reconciliation | The following table reconciles the change in the net deferred income tax liability from December 31, 2018, to December 31, 2019, to deferred income tax expense:
| 2019 |
(In thousands) |
Change in net deferred income tax liability from the preceding table | $ | 76,498 |
Deferred taxes associated with other comprehensive loss | 1,631 |
Deferred taxes associated with TCJA enactment for regulated activities | (11,904 | )
Other | (2,810 | )
Deferred income tax expense for the period | $ | 63,415 |
Reconciliation of income tax expense (benefit) at statutory federal rate versus actual rate | 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, | 2019 | 2018 | 2017
| Amount |  | % |  | Amount |  | % |  | Amount |  | % |
| (Dollars in thousands)
Computed tax at federal statutory rate | $ | 83,674 |  | 21.0 |  | $ | 66,543 |  | 21.0 |  | $ | 122,509 |  | 35.0 |
Increases (reductions) resulting from: |  |  |  |  |  |  |  |
State income taxes, net of federal income tax | 14,029 |  | 3.5 |  | 12,190 |  | 3.8 |  | 10,724 |  | 3.1 |
Federal renewable energy credit | (15,843 | ) | (4.0 | ) | (11,759 | ) | (3.7 | ) | (13,958 | ) | (4.0 | )
Tax compliance and uncertain tax positions | (2,739 | ) | (.7 | ) | (2,725 | ) | (.9 | ) | (643 | ) | (.2 | )
Domestic production deduction | — |  | — |  | — |  | — |  | (6,849 | ) | (2.0 | )
Excess deferred income tax amortization | (11,904 | ) | (3.0 | ) | (9,319 | ) | (2.9 | ) | (397 | ) | — |
TCJA revaluation | — |  | — |  | (5,947 | ) | (1.9 | ) | (47,242 | ) | (13.5 | )
TCJA revaluation related to accumulated other comprehensive loss balance | — |  | — |  | (42 | ) | — |  | 7,735 |  | 2.2 |
Other | (3,938 | ) | (.9 | ) | (1,456 | ) | (.4 | ) | (6,838 | ) | (2.0 | )
Total income tax expense | $ | 63,279 |  | 15.9 |  | $ | 47,485 |  | 15.0 |  | $ | 65,041 |  | 18.6 |

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