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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Income tax expense reconciliation

		(Thousands of Dollars)
		Years Ended December 31,
		2015				2014				2013
Income Tax at Statutory Rate		$	10,703			$	9,786			$	8,638
Tax Effect of:
Utility Plant Related			(920	)			(572	)			(527	)
State Income Taxes – Net			745				711				546
Employee Benefits			7				(6	)			(46	)
Other			16				18				10
Total Income Tax Expense		$	10,551			$	9,937			$	8,621

Income tax expense

		(Thousands of Dollars)
		Years Ended December 31,
		2015				2014				2013
Current:
Federal		$	(15,203	)		$	5,920			$	5,018
State			1,153				887				688
Deferred:
Federal			24,686				3,018				2,855
State			(6	)			191				139
Investment Tax Credits			(79	)			(79	)			(79	)
Total Income Tax Expense		$	10,551			$	9,937			$	8,621

Deferred tax liability

		(Thousands of Dollars)
		December 31,
		2015					2014
Utility Plant Related		$	63,281			$	43,996
Customer Advances			(3,510	)			(3,570	)
Employee Benefits			5,796				7,223
Investment Tax Credits (ITC)			832				910
Net Operating Loss Carryforwards			2,311				—
Other			(176	)			(343	)
Total Deferred Tax Liability and ITC		$	68,534			$	48,216

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- References

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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://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=6907707&loc=d3e32639-109319

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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://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=6907707&loc=d3e32537-109319

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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