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Accounting For Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Current income tax expense (benefit) |  | $ | 807 |  |  | $ | (37,913 | ) |  | $ | 16,276 |
Deferred income tax expense |  |  | 11,224 |  |  |  | 44,964 |  |  |  | 15,098 |
Total income tax expense |  | $ | 12,031 |  |  | $ | 7,051 |  |  | $ | 31,374 |
Schedule of Effective Income Tax Rate Reconciliation |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Federal income taxes at statutory rates |  | $ | 33,467 |  |  |  | 21.0 | % |  | $ | 28,673 |  |  |  | 21.0 | % |  | $ | 47,909 |  |  |  | 21.0 | %
Increase (decrease) in tax resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tax effect of regulatory treatment of utility plant differences |  |  | (13,820 | ) |  |  | (8.7 | ) |  |  | (12,893 | ) |  |  | (9.4 | ) |  |  | (9,967 | ) |  |  | (4.3 | )
State income tax expense |  |  | 1,385 |  |  |  | 0.8 |  |  |  | 814 |  |  |  | 0.6 |  |  |  | 1,465 |  |  |  | 0.6 |
Acquisition costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,712 | ) |  |  | (0.7 | )
Flow through related to deduction of meters and mixed service costs (1) |  |  | (8,678 | ) |  |  | (5.4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-plant excess deferred turnaround (2) |  |  | — |  |  |  | — |  |  |  | (8,476 | ) |  |  | (6.2 | ) |  |  | (5,690 | ) |  |  | (2.5 | )
Tax loss on sale of METALfx |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,272 | ) |  |  | (0.6 | )
Customer refunds related to prior years at 35 percent |  |  | — |  |  |  | — |  |  |  | (1,189 | ) |  |  | (0.9 | ) |  |  | — |  |  |  | — |
Other |  |  | (323 | ) |  |  | (0.2 | ) |  |  | 122 |  |  |  | 0.1 |  |  |  | 641 |  |  |  | 0.3 |
Total income tax expense |  | $ | 12,031 |  |  |  | 7.5 | % |  | $ | 7,051 |  |  |  | 5.2 | % |  | $ | 31,374 |  |  |  | 13.8 | %
(1) With the approval of the Idaho and Washington general rate cases in 2021, a change in tax methodology resulted in recognizing a flow through benefit related to meters and mixed service costs. (2) In March 2020, the WUTC approved an all-party settlement agreement related to electric tax benefits that were set aside for Colstrip in the 2020 general rate case order. In the approved settlement agreement, the parties agreed to utilize $10.9 million ($8.4 million when tax-effected) of the electric benefits to offset costs associated with accelerating the depreciation of Colstrip Units, to reflect a remaining useful life through December 31, 2025. In the second quarter of 2020, the Company recorded a one-time increase to depreciation expense with an offsetting decrease to income tax expense. In March 2019, the IPUC approved an all-party settlement agreement related to electric tax benefits that were set aside for Colstrip in the 2020 general rate case order. In the approved settlement agreement, the parties agreed to utilize $6.4 million ($5.1 million when tax-effected) of the electric benefits to offset costs associated with accelerating the depreciation of Colstrip, to reflect a remaining useful life through December 31, 2027. In the second quarter of 2019, the Company recorded a one-time increase to depreciation expense with an offsetting decrease to income tax expense.
Schedule of Deferred Income Tax Assets and Liabilities | The total net deferred income tax liability consisted of the following as of December 31 (dollars in thousands):
|  | 2021 |  |  | 2020 |
Deferred income tax assets: |  |  |  |  |  |
Regulatory liabilities |  | $ | 200,513 |  |  | $ | 179,871 |
Tax credits and NOL carryforwards |  |  | 64,994 |  |  |  | 57,516 |
Provisions for pensions |  |  | 25,650 |  |  |  | 37,501 |
Other |  |  | 38,181 |  |  |  | 42,641 |
Total gross deferred income tax assets |  |  | 329,338 |  |  |  | 317,529 |
Valuation allowances for deferred tax assets |  |  | (9,626 | ) |  |  | (10,021 | )
Total deferred income tax assets after valuation allowances |  |  | 319,712 |  |  |  | 307,508 |
Deferred income tax liabilities: |  |  |  |  |  |
Utility property, plant, and equipment |  |  | 688,856 |  |  |  | 666,639 |
Regulatory assets |  |  | 264,978 |  |  |  | 232,697 |
Other |  |  | 8,587 |  |  |  | 2,884 |
Total deferred income tax liabilities |  |  | 962,421 |  |  |  | 902,220 |
Net long-term deferred income tax liability |  | $ | 642,709 |  |  | $ | 594,712 |

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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=121826272&loc=d3e32639-109319 + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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