Income Tax Expense

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense

Income Tax Expense

The effective tax rate, inclusive of federal and state income tax, for the three months ended March 31, 2020, was 5.0% which is below the federal statutory tax rate of 21%, primarily due to the recognition of production tax credits associated with wind production and the effect of the excess deferred tax amortization resulting from the Tax Act.

The effective tax rate, inclusive of federal and state income tax, for the three months ended March 31, 2019, was 16.0% which is lower than the federal statutory tax rate of 21%, primarily due to the recognition of production tax credits associated with wind production, partially offset by discrete tax adjustments recorded during the period.