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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Schedule of income tax expense reconciliation

		(Thousands of Dollars)
		Years Ended December 31,
		2022				2021				2020
Income Tax at Statutory Rate		$	9,590			$	6,521			$	7,204
Tax Effect of:
Utility Plant Related			(1,106	)			(1,290	)			(1,356	)
Tangible Property Repairs			(6,767	)			(12,281	)			(11,298	)
State Income Taxes – Net			1,296				1,499				1,364
Other			227				63				(33	)
Total Income Tax Expense (Benefit)		$	3,240			$	(5,488	)		$	(4,119	)

Schedule of income tax expense

		(Thousands of Dollars)
		Years Ended December 31,
		2022				2021				2020
Current:
Federal		$	425			$	(8,247	)		$	(4,281	)
State			1,381				1,467				2,598
Deferred:
Federal			1,242				933				(1,490	)
State			260				431				(871	)
Investment Tax Credits			(68	)			(72	)			(75	)
Total Income Tax (Benefit) Expense		$	3,240			$	(5,488	)		$	(4,119	)

Schedule of net deferred tax liability

		(Thousands of Dollars)
		December 31,
		2022				2021
Utility Plant Related		$	72,996			$	65,107
Customer Advances			(3,568	)			(3,595	)
Employee Benefits			7,380				7,091
Investment Tax Credits			304				373
Other			671				524
Total Accumulated Deferred Income Taxes		$	77,783			$	69,500

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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