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Income taxes
3 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]  
Income taxes

Note 19. Income taxes

Our consolidated effective income tax rate for the first quarter was 21.2% in 2020 and  21.4% in 2019. Our effective income tax rate normally reflects recurring benefits from dividends-received deductions applicable to investments in equity securities and production tax credits related to wind-powered electricity generation placed in service in the U.S. Our periodic effective income tax rate will also vary due to the changes in mix of pre-tax earnings, the magnitude of gains or losses included in earnings with respect to our investments in equity securities, and underlying income tax rates applicable in the various taxing jurisdictions.