XML 53 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2018
Income Taxes [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The items comprising income tax expense (benefit) are as follows: 
Year Ended December 31 (In millions)
2018
2017
2016
Provision (benefit) for current income taxes: 
 
 
 
Federal
$
(1.9
)
$
4.9

$
—

State
(4.4
)
(4.2
)
(5.7
)
Total provision (benefit) for current income taxes 
(6.3
)
0.7

(5.7
)
Provision (benefit) for deferred income taxes, net: 
 
 
 
Federal
74.7

(75.9
)
126.0

State
3.7

26.0

28.0

Total provision (benefit) for deferred income taxes, net 
78.4

(49.9
)
154.0

Deferred federal investment tax credits, net
0.1

(0.1
)
(0.2
)
Total income tax expense (benefit)
$
72.2

$
(49.3
)
$
148.1
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The following schedule reconciles the statutory tax rates to the effective income tax rate:
Year Ended December 31
2018
2017
2016
Statutory federal tax rate
21.0
 %
35.0
 %
35.0
 %
Federal deferred tax revaluation
0.4

(41.2
)
—

Other
0.4

(0.1
)
0.1

State income taxes, net of federal income tax benefit
0.4

2.0

1.9

Executive compensation limitation
0.2

—

—

Federal renewable energy credit (A)
(5.1
)
(4.8
)
(6.8
)
Amortization of net unfunded deferred taxes
(2.1
)
0.7

0.7

Remeasurement of state deferred tax liabilities
(0.4
)
0.4

0.9

401(k) dividends
(0.3
)
(0.5
)
(0.6
)
Federal investment tax credits, net
—

(0.1
)
(0.8
)
Uncertain tax positions
—

—

0.1

Effective income tax rate
14.5
 %
(8.6
)%
30.5
 %
(A)
Represents credits associated with the production from OG&E's wind farms.
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The components of Deferred Income Taxes at December 31, 2018 and 2017 were as follows:
December 31 (In millions)
2018
2017
Deferred income tax liabilities, net:
 
 
Accelerated depreciation and other property related differences
$
1,605.3

$
1,449.6

Investment in Enable
469.9

441.7

Regulatory assets
17.4

18.9

Company Pension Plan
7.6

11.5

Bond redemption-unamortized costs
2.4

2.6

Derivative instruments
1.7

1.6

Other
1.1

(0.9
)
Income taxes recoverable from customers, net
(239.6
)
(244.3
)
Federal tax credits
(237.8
)
(218.5
)
State tax credits
(156.0
)
(141.7
)
Regulatory liabilities
(78.8
)
(16.8
)
Postretirement medical and life insurance benefits
(23.6
)
(25.2
)
Asset retirement obligations
(21.5
)
(19.2
)
Net operating losses
(20.2
)
(21.1
)
Accrued liabilities
(12.5
)
(7.4
)
Accrued vacation
(2.3
)
(2.1
)
Deferred federal investment tax credits
(1.8
)
(0.5
)
Uncollectible accounts
(0.4
)
(0.4
)
Total deferred income tax liabilities, net
$
1,310.9

$
1,227.8
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
Following is a reconciliation of the Company's total gross unrecognized tax benefits as of the years ended December 31, 2018, 2017 and 2016.
(In millions)
2018
2017
2016
Balance at January 1
$
20.7

$
20.7

$
20.2

Tax positions related to current year:
 
 
 
Additions
—

—

0.5

Balance at December 31
$
20.7

$
20.7

$
20.7
Summary of Tax Credit Carryforwards [Table Text Block]
The following table summarizes these carry forwards:
(In millions)
Carry Forward Amount
Deferred Tax Asset
Earliest Expiration Date
State operating loss
$
451.8

$
20.2

2030
Federal tax credits
$
237.8

$
237.8

2032
State tax credits:
 
 
 
Oklahoma investment tax credits
$
161.6

$
127.7

N/A
Oklahoma capital investment board credits
$
8.9

$
8.9

N/A
Oklahoma zero emission tax credits
$
24.1

$
19.4

2020

N/A - not applicable