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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Summary of Significant Factors Impact on Difference Between Effective Tax Rate and Federal Statutory Rate

The following table summarizes the significant factors impacting the difference between the Company's effective tax rate and the federal statutory rate for the three and nine months ended September 30 (dollars in thousands):

		Three months ended September 30,																Nine months ended September 30,
		2024								2023								2024								2023
Federal income taxes at statutory rates		$	3,782				21.0	%		$	2,294				21.0	%		$	24,184				21.0	%		$	14,872				21.0	%
Increase (decrease) in tax resulting from:
Flow through related to deduction of meters      and mixed service costs (1)			(2,445	)			(13.6	)			(3,744	)			(34.3	)			(14,128	)			(12.3	)			(22,956	)			(32.4	)
Tax effect of regulatory treatment of utility       plant differences			(1,317	)			(7.3	)			(828	)			(7.6	)			(7,291	)			(6.4	)			(6,040	)			(8.5	)
State income tax expense			160				0.9				151				1.4				878				0.8				949				1.3
Tax credits			(86	)			(0.5	)			(862	)			(7.9	)			(486	)			(0.4	)			(1,997	)			(2.8	)
Other			(572	)			(3.2	)			(797	)			(7.2	)			(834	)			(0.7	)			(1,052	)			(1.5	)
Total income tax expense (benefit)		$	(478	)			(2.7	)%		$	(3,786	)			(34.6	)%		$	2,323				2.0	%		$	(16,224	)			(22.9	)%

(1)The Company's general rate cases included approval of base rate increases, offset by tax customer credits. As the tax customer credits are returned to customers, this results in a decrease to income tax expense as a result of flowing through the benefits related to meters and mixed service costs.

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- References

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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