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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Taxes [Line Items]  
Schedule of Unrecognized Tax Benefits Roll Forward
$ in millions202420232022
Unrecognized tax benefits at January 1$0.4 $0.4 $0.4 
Gross increases - current period tax positions— — — 
Gross decreases - prior period tax positions— — — 
Unrecognized tax benefits at December 31$0.4 $0.4 $0.4 
Components of Income Tax Expense :
Years ended December 31,
$ in millions202420232022
Components of tax expense / (benefit)
Federal - current$(17.7)$(20.0)$(7.6)
State and local - current
(0.1)0.4 — 
Total current(17.8)(19.6)(7.6)
Federal - deferred10.2 24.5 (2.1)
State and local - deferred4.6 1.7 0.1 
Total deferred14.8 26.2 (2.0)
Tax expense / (benefit)$(3.0)$6.6 $(9.6)
Schedule of Effective Income Tax Rate Reconciliation
The following table summarizes a reconciliation of the U.S. statutory federal income tax rate to the effective tax rate, as a percentage of total income before taxes:
Years ended December 31,
202420232022
Statutory Federal tax rate21.0 %21.0 %21.0 %
State taxes, net of Federal tax benefit5.2 %2.5 %(1.6)%
AFUDC - equity(4.5)%(0.2)%2.5 %
Depreciation of flow-through differences(50.4)%(7.6)%43.8 %
Amortization of investment tax credits(0.1)%— %0.1 %
Other, net1.0 %(0.1)%1.3 %
Effective tax rate(27.8)%15.6 %67.1 %
Components of Deferred Tax Assets and Liabilities
December 31,
$ in millions20242023
Net non-current assets / (liabilities)
Depreciation / property basis$(218.2)$(199.4)
Income taxes recoverable7.8 9.5 
Regulatory assets(42.2)(39.3)
Compensation and employee benefits(4.5)(3.7)
Long-term debt4.7 4.9 
Other (a)
2.8 0.7 
Net non-current liabilities$(249.6)$(227.3)

(a)    The Other caption includes deferred tax assets of $32.0 million in 2024 and $35.9 million in 2023 related to state and local tax net operating loss carryforwards, with related valuation allowances of $31.8 million in 2024 and $35.7 million in 2023. These net operating loss carryforwards expire from 2025 to 2039.
Tax expense / (benefit) credited to Accumulated other comprehensive loss
The following table presents the tax expense / (benefit) related to pensions, postemployment benefits, cash flow hedges and financial instruments that were credited to Accumulated other comprehensive loss:
Years ended December 31,
$ in millions202420232022
Tax expense / (benefit)$(0.1)$(0.6)$0.8 
THE DAYTON POWER AND LIGHT COMPANY [Member]  
Income Taxes [Line Items]  
Schedule of Unrecognized Tax Benefits Roll Forward
$ in millions202420232022
Unrecognized tax benefits at January 1$0.4 $0.4 $0.4 
Gross increases - current period tax positions— — — 
Gross decreases - prior period tax positions— — — 
Unrecognized tax benefits at December 31$0.4 $0.4 $0.4 
Components of Income Tax Expense ’s components of income tax expense were as follows:
Years ended December 31,
$ in millions202420232022
Components of tax expense / (benefit)
Federal - current$— $4.1 $(0.8)
State and local - current
(0.1)0.4 — 
Total current(0.1)4.5 (0.8)
Federal - deferred(1.3)7.3 (2.4)
State and local - deferred4.6 1.7 0.1 
Total deferred3.3 9.0 (2.3)
Tax expense / (benefit)$3.2 $13.5 $(3.1)
Schedule of Effective Income Tax Rate Reconciliation
Years ended December 31,
202420232022
Statutory Federal tax rate21.0 %21.0 %21.0 %
State taxes, net of Federal tax benefit1.4 %1.4 %1.4 %
AFUDC - Equity(1.2)%(0.1)%(2.2)%
Depreciation of flow-through differences(13.5)%(4.3)%(39.4)%
Amortization of investment tax credits— %— %(0.1)%
Other - net0.3 %— %(0.3)%
Effective tax rate8.0 %18.0 %(19.6)%
Components of Deferred Tax Assets and Liabilities
December 31,
$ in millions20242023
Net non-current assets / (liabilities)
Depreciation / property basis$(214.4)$(195.3)
Income taxes recoverable7.8 9.5 
Regulatory assets(42.2)(39.3)
Compensation and employee benefits(4.8)(4.1)
Operating loss carryforwards
32.3 21.0 
Other (a)
3.7 2.1 
Net non-current liabilities$(217.6)$(206.1)
(a)    The Other caption includes a state and local tax valuation allowance of 0.1 million in 2024 and 0.0 million in 2023 that partially offsets the operating loss carryforwards.
Tax expense / (benefit) credited to Accumulated other comprehensive loss
Years ended December 31,
$ in millions202420232022
Tax expense / (benefit)$0.5 $(0.3)$1.5