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Income Taxes
 3 Months Ended
Dec. 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): 
                                                         
Three Months Ended 
 December 31,
                                                         
2015
 
2014
Current Income Taxes 
 

 
 

Federal                                              
$
(8,227
)
 
$
16,528

State                                                  
3,890

 
5,425

 
 
 
 
Deferred Income Taxes                                
 

 
 

Federal                                               
(97,705
)
 
26,193

State                                                    
(42,308
)
 
7,014

 
(144,350
)
 
55,160

Deferred Investment Tax Credit                            
(87
)
 
(104
)
 
 
 
 
Total Income Taxes                                      
$
(144,437
)
 
$
55,056

Presented as Follows:
 

 
 

Other Income
(87
)
 
(104
)
Income Tax Expense (Benefit)
(144,350
)
 
55,160

 
 
 
 
Total Income Taxes
$
(144,437
)
 
$
55,056



Total income taxes as reported differ from the amounts that were computed by applying the federal income tax rate to income (loss) before income taxes.  The following is a reconciliation of this difference (in thousands): 
 
Three Months Ended 
 December 31,
 
2015
 
2014
U.S. Income (Loss) Before Income Taxes
$
(333,546
)
 
$
139,796

 
 

 
 

Income Tax Expense (Benefit), Computed at U.S. Federal Statutory Rate of 35%
$
(116,741
)
 
$
48,929

State Income Taxes (Benefit)
(24,972
)
 
8,085

Miscellaneous
(2,724
)
 
(1,958
)
 
 
 
 
Total Income Taxes
$
(144,437
)
 
$
55,056


 
On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015, which did not have a significant impact on total income tax expense.