Income Taxes	3 Months Ended
Mar. 31, 2020
Income Taxes [Abstract]
Income Taxes	13. Income Taxes The Company filed for a change in accounting method under the Internal Revenue Service tangible property regulations, or TPR, effective in 2014. Under the change in accounting method, the Company is permitted to deduct the costs of certain asset improvements that were previously being capitalized and depreciated for tax purposes as an expense on its income tax return. This ongoing deduction results in a reduction in the effective income tax rate, a net reduction in income tax expense, and a reduction in the amount of income taxes currently payable. It also results in increases to deferred tax liabilities and regulatory assets representing the appropriate book and tax basis difference on capital additions. The Company’s effective tax rate was 12.4% and 19.9% for the three months ended March 31, 2020 and 2019, respectively. The lower effective tax rate is primarily due to higher deductions from the TPR and a non-taxable gain on life insurance. The effective tax rate will vary depending on the level of eligible asset improvements expensed for tax purposes under TPR each period.

Income Taxes

3 Months Ended

Mar. 31, 2020

13. Income Taxes

The Company filed for a change in accounting method under the Internal Revenue Service tangible property regulations, or TPR, effective in 2014. Under the change in accounting method, the Company is permitted to deduct the costs of certain asset improvements that were previously being capitalized and depreciated for tax purposes as an expense on its income tax return. This ongoing deduction results in a reduction in the effective income tax rate, a net reduction in income tax expense, and a reduction in the amount of income taxes currently payable. It also results in increases to deferred tax liabilities and regulatory assets representing the appropriate book and tax basis difference on capital additions.

The Company’s effective tax rate was 12.4% and 19.9% for the three months ended March 31, 2020 and 2019, respectively. The lower effective tax rate is primarily due to higher deductions from the TPR and a non-taxable gain on life insurance. The effective tax rate will vary depending on the level of eligible asset improvements expensed for tax purposes under TPR each period.