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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes

The components of income tax provision (benefit) is comprised of the following:

			For The Years Ended December 31,
			2022						2021						2020
Current
Federal			$	31.2					$	1.3					$	(17.4)
State			3.8						0.7						1.8
Total current			34.9						2.0						(15.6)
Deferred
Federal			(7.6)						(8.8)						32.5
State			(0.3)						(0.9)						4.2
Total deferred			(7.9)						(9.7)						36.7
Income tax provision (benefit)			$	27.0					$	(7.7)					$	21.1

Income Tax Reconciliation

The income tax provision (benefit) differs from the amount computed by applying the statutory federal income tax rate to income (loss) before income taxes due to the following:

						For The Years Ended December 31,
						2022						2021						2020
Tax at the statutory rate						21.0		%				21.0		%				21.0		%
State and local taxes, net of federal income tax impact						3.3		%				(0.5)		%				5.7		%
Adjustment for state deferred tax rate 1						(7.8)		%				1.2		%				(0.3)		%
CARES Act net operating loss carryback						—		%				—		%				(7.1)		%
Federal credits 2						10.1		%				(0.2)		%				(1.3)		%
Uncertain tax positions						(0.8)		%				0.5		%				2.2		%
Worthless stock deduction						(93.6)		%				—		%				—		%
Uncertain tax position - worthless stock deduction						93.6		%				—		%				—		%
Non-deductible expenses						2.2		%				(0.6)		%				2.3		%
Change in valuation allowances1						8.1		%				0.1		%				0.1		%
Other, net						0.8		%				0.2		%				(1.1)		%
Income tax provision (benefit)						37.0		%				21.6		%				21.5		%

1 In 2022, Idaho revised their state income tax rate. Given our expected utilization, we recorded an offset to our valuation allowances for the amount of this reduction.

2 In 2022, we adjusted our tax positions under audit related to the disallowance of a previously taken federal tax credits

based upon interpretation of the law.

Tax Effects of Significant Temporary Differences Creating Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences creating deferred tax assets and liabilities at December 31 were:

			2022						2021
Deferred tax assets:
Employee benefits			$	3.2					$	3.4
Postretirement employee benefits			12.9						18.5
Incentive compensation			3.5						6.6
Inventories			2.2						0.2
Pensions			0.9						—
Federal and state credit carryforwards			10.1						13.5
Federal and state net operating losses			3.3						4.1
Operating leases			12.0						15.2
Other			1.5						—
Total deferred tax assets			49.6						61.5
Valuation allowance			(10.8)						(5.4)
Deferred tax assets, net of valuation allowance			38.8						56.1
Deferred tax liabilities:
Property, plant and equipment, net			(168.3)						(185.5)
Operating leases			(10.8)						(13.8)
Pensions			—						(1.5)
Intangible assets, net			(1.8)						(2.3)
Other			—						(0.6)
Total deferred tax liabilities			(180.9)						(203.7)
Net deferred tax liabilities			$	(142.1)					$	(147.6)

Net deferred tax assets (liabilities) consist of:

			December 31,
			2022						2021
Non-current deferred tax assets1			$	0.6					$	2.2
Non-current deferred tax liabilities			(142.7)						(149.9)
Net deferred tax liabilities			$	(142.1)					$	(147.6)

1Included in "Other assets, net" on our accompanying December 31, 2022 and 2021 Consolidated Balance Sheets.

Roll Forward of Unrecognized Tax Benefits and Associated Interest and Penalties Included in the Accrued Taxes line item in non-current liabilities

			For The Years Ended December 31,
			2022			2021			2020
Beginning balance			$	5.9		$	6.4		$	4.1
Increases:
Tax position taken in current year			68.6			0.2			0.4
Tax position taken in prior years			(0.1)			(0.7)			1.9
Decreases:
Settlements during the year			(3.1)			—			—
Lapse of statues in current year			(0.9)			—			—
Ending balance			$	70.4		$	5.9		$	6.4

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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.

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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.

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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.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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