Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The following tables provide: (a) the components of income tax expense in 2015, 2014, and 2013; (b) the reconciliation between the statutory federal income tax rate and the effective income tax rate for 2015, 2014, and 2013; and (c) the components of accumulated deferred income tax assets and liabilities at December 31, 2015 and 2014.

	For the Year Ended December 31,
	2015			2014			2013
(in thousands)
Current Income Tax Expense
Federal	$	4,875		$	434		$	4,882
State	1,533			1,311			2,382
	(23		)	(35		)	(39		)
Total current income tax expense	6,385			1,710			7,225
Deferred Income Tax Expense (1)
Property, plant and equipment	21,205			20,382			16,758
Deferred gas costs	(1,539		)	1,614			(209		)
Pensions and other employee benefits	(84		)	537			(335		)
FPU merger related premium cost and deferred gain	(556		)	(802		)	(686		)
Net operating loss carryforwards	2,078			(112		)	62
Other	(584		)	616			(730		)
Total deferred income tax expense	20,520			22,235			14,860
Total Income Tax Expense	$	26,905		$	23,945		$	22,085

Summary of Reconciliation of Statutory Federal Tax and Effective Income Tax Rates

	For the Year Ended December 31,
	2015			2014			2013
(in thousands)
Reconciliation of Effective Income Tax Rates
Continuing Operations
Federal income tax expense (1)	$	23,865		$	21,121		$	19,205
State income taxes, net of federal benefit	3,062			2,946			3,105
ESOP dividend deduction	(263		)	(267		)	(256		)
Other	241			145			31
Total Income Tax Expense	$	26,905		$	23,945		$	22,085
Effective Income Tax Rate	39.54		%	39.88		%	40.25		%

⁽¹⁾  Federal income taxes were recorded at 35% for each year represented.

Schedule of Accumulated Deferred Income Tax Assets and Liabilities

	As of December 31,
	2015		2014
(in thousands)
Deferred Income Taxes
Deferred income tax liabilities:
Property, plant and equipment	$	185,448	$	152,877
Acquisition adjustment	15,490		16,140
Loss on reacquired debt	485		529
Deferred gas costs	683		2,222
Other	5,961		4,507
Total deferred income tax liabilities	208,067		176,275
Deferred income tax assets:
Pension and other employee benefits	6,570		6,532
Environmental costs	2,445		2,313
Net operating loss carryforwards	943		1,186
Self insurance	278		275
Storm reserve liability	1,153		1,150
Other	4,078		3,755
Total deferred income tax assets	15,467		15,211
Deferred Income Taxes Per Consolidated Balance Sheets	$	192,600	$	161,064