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Income Taxes
 6 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
The components of federal and state income taxes included in the Consolidated Statements of Income are as follows (in thousands): 
                                                         
Six Months Ended 
 March 31,
                                                         
2015
 
2014
Current Income Taxes 
 

 
 

Federal                                              
$
36,746

 
$
39,974

State                                                  
13,199

 
9,607

 
 
 
 
Deferred Income Taxes                                
 

 
 

Federal                                               
13,242

 
50,110

State                                                    
(2,891
)
 
21,829

 
60,296

 
121,520

Deferred Investment Tax Credit                            
(208
)
 
(218
)
 
 
 
 
Total Income Taxes                                      
$
60,088

 
$
121,302

Presented as Follows:
 

 
 

Other Income
(208
)
 
(218
)
Income Tax Expense
60,296

 
121,520

 
 
 
 
Total Income Taxes
$
60,088

 
$
121,302



Total income taxes as reported differ from the amounts that were computed by applying the federal income tax rate to income before income taxes.  The following is a reconciliation of this difference (in thousands): 
 
Six Months Ended 
 March 31,
 
2015
 
2014
U.S. Income Before Income Taxes
$
161,497

 
$
298,765

 
 

 
 

Income Tax Expense, Computed at U.S. Federal Statutory Rate of 35%
$
56,524

 
$
104,568

 
 
 
 
Increase (Reduction) in Taxes Resulting from:
 

 
 

State Income Taxes
6,700

 
20,433

Miscellaneous
(3,136
)
 
(3,699
)
 
 
 
 
Total Income Taxes
$
60,088

 
$
121,302


 
On December 19, 2014, President Obama signed into law the Tax Increase Prevention Act of 2014, which did not have a significant impact on income tax expense.