Income Tax Expense (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Expense [Table Text Block]

	Quarter Ended		Nine Months Ended
	September 30,		September 30,
	2022	2021	2022	2021
Millions
Current Income Tax Expense (a)
Federal	—	—	—	—
State	$0.2	$0.1	$0.3	$0.1
Total Current Income Tax Expense	$0.2	$0.1	$0.3	$0.1
Deferred Income Tax Expense (Benefit)
Federal (b)	$(8.4)	$(5.8)	$(20.7)	$(26.3)
State (c)	1.1	0.9	1.4	7.3
Investment Tax Credit Amortization	(0.1)	(0.1)	(0.4)	(0.4)
Total Deferred Income Tax Benefit	$(7.4)	$(5.0)	$(19.7)	$(19.4)
Total Income Tax Benefit	$(7.2)	$(4.9)	$(19.4)	$(19.3)

(a)For the three and nine months ended September 30, 2022 and 2021, the federal and state current tax expense was minimal due to NOLs which resulted from the bonus depreciation provisions of certain tax legislation. Federal and state NOLs are being carried forward to offset current and future taxable income.

(b)For the three and nine months ended September 30, 2022 and 2021, the federal income tax benefit is primarily due to production tax credits.

(c)For the nine months ended September 30, 2022, the state impact includes the benefit of deferred repricing as a result of the New Energy acquisition.

Reconciliation of Taxes from Federal Statutory Rate to Total Income Tax Expense [Table Text Block]

	Quarter Ended				Nine Months Ended
Reconciliation of Taxes from Federal Statutory	September 30,				September 30,
Rate to Total Income Tax Expense	2022		2021		2022		2021
Millions
Income Before Income Taxes	$19.6		$19.2		$74.7		$69.9
Statutory Federal Income Tax Rate	21	%	21	%	21	%	21	%
Income Taxes Computed at Statutory Federal Rate	$4.1		$4.0		$15.7		$14.7
Increase (Decrease) in Income Tax Due to:
State Income Taxes (Credit) – Net of Federal Income Tax Benefit	1.1		0.7		6.6		5.8
Deferred Revaluation – Net of Federal Income Tax Benefit	—		—		(5.2)		—
Production Tax Credits	(9.7)		(9.5)		(34.4)		(36.6)
Investment Tax Credits	(3.2)		—		(3.2)		—
Regulatory Differences – Excess Deferred Tax	(1.5)		(2.1)		(6.7)		(6.7)
Non-Controlling Interest in Subsidiaries	1.4		0.8		8.4		3.9
Other	0.6		1.2		(0.6)		(0.4)
Total Income Tax Benefit	$(7.2)		$(4.9)		$(19.4)		$(19.3)