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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
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:
| 2022 | 2021 | 2020
| (In thousands)
United States | $ | 462,059 |  | $ | 466,651 |  | $ | 474,856 |
Foreign | — |  | — |  | 261 |
Income before income taxes from continuing operations | $ | 462,059 |  | $ | 466,651 |  | $ | 475,117 |
Income tax expense | Income tax expense (benefit) from continuing operations for the years ended December 31 was as follows:
| 2022 |  | 2021 |  | 2020 |
| (In thousands)
Current: |  |  |
Federal | $ | 50,747 |  | $ | 17,121 |  | $ | 65,006 |
State | 20,710 |  | 11,549 |  | 21,234 |
Foreign | — |  | — |  | 151 |
| 71,457 |  | 28,670 |  | 86,391 |
Deferred: |  |  |
Income taxes: |  |  |
Federal | 17,820 |  | 45,885 |  | (3,735) |
State | 4,608 |  | 12,610 |  | (625) |
Investment tax credit - net | 898 |  | 1,755 |  | 2,559 |
| 23,326 |  | 60,250 |  | (1,801) |
Total income tax expense | $ | 94,783 |  | $ | 88,920 |  | $ | 84,590 |
Deferred tax assets and deferred tax liabilities | Components of deferred tax assets and deferred tax liabilities at December 31 were as follows:
| 2022 | 2021
| (In thousands)
Deferred tax assets: |  |
Postretirement | $ | 41,298 |  | $ | 45,752 |
Compensation-related | 35,196 |  | 37,917 |
Operating lease liabilities | 25,718 |  | 26,710 |
Asset retirement obligations | 9,687 |  | 8,696 |
Legal and environmental contingencies | 8,526 |  | 8,603 |
Customer advances | 7,615 |  | 7,683 |
Payroll tax deferral | — |  | 6,940 |
Other | 51,472 |  | 39,960 |
Total deferred tax assets | 179,512 |  | 182,261 |
Deferred tax liabilities: |  |
Basis differences on property, plant and equipment | 608,528 |  | 585,095 |
Postretirement | 47,340 |  | 48,302 |
Purchased gas adjustment | 33,567 |  | 21,136 |
Operating lease right-of-use-assets | 25,472 |  | 26,570 |
Intangible assets | 23,007 |  | 21,074 |
Other | 60,078 |  | 59,934 |
Total deferred tax liabilities | 797,992 |  | 762,111 |
Valuation allowance | 12,823 |  | 12,112 |
Net deferred income tax liability | $ | 631,303 |  | $ | 591,962 |
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, 2021, to December 31, 2022, to deferred income tax expense:
| 2022
(In thousands)
Change in net deferred income tax liability from the preceding table | $ | 39,341 |
Deferred taxes associated with other comprehensive loss | (3,507) |
Excess deferred income tax amortization | (9,008) |
Other | (3,500) |
Deferred income tax expense for the period | $ | 23,326 |
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, | 2022 | 2021 | 2020
| Amount | % | Amount | % | Amount | %
| (Dollars in thousands)
Computed tax at federal statutory rate | $ | 97,032 |  | 21.0 |  | $ | 97,997 |  | 21.0 |  | $ | 99,775 |  | 21.0 |
Increases (reductions) resulting from: |  |  |  |  |  |
State income taxes, net of federal income tax | 19,126 |  | 4.1 |  | 19,496 |  | 4.2 |  | 17,845 |  | 3.8 |
Federal renewable energy credit | (15,343) |  | (3.3) |  | (13,914) |  | (3.0) |  | (16,009) |  | (3.4) |
Tax compliance and uncertain tax positions | 1,080 |  | .2 |  | (477) |  | (.1) |  | (3,543) |  | (.7) |
Nonqualified benefit plans | 2,827 |  | .6 |  | (1,881) |  | (.4) |  | (2,443) |  | (.5) |
Excess deferred income tax amortization | (9,008) |  | (1.9) |  | (10,295) |  | (2.2) |  | (12,517) |  | (2.6) |
Other | (931) |  | (.2) |  | (2,006) |  | (.4) |  | 1,482 |  | .2 |
Total income tax expense | $ | 94,783 |  | 20.5 |  | $ | 88,920 |  | 19.1 |  | $ | 84,590 |  | 17.8 |

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