INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of effective income tax rate reconciliation

The provision for income taxes differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to income before income taxes as a result of the following:


	Three Months Ended June 30, 2025				Three Months Ended June 30, 2024
(in millions)	Amount		Effective Tax Rate		Amount		Effective Tax Rate
Statutory federal income tax	$	29.3	21.0	%	$	22.8	21.0	%
State income taxes net of federal tax benefit	7.3		5.2	%	6.5		6.0	%
PTCs, net	(7.3)		(5.2)	%	(3.1)		(2.9)	%
Federal excess deferred tax amortization	(4.2)		(3.0)	%	(3.5)		(3.2)	%
Tax repairs	(3.2)		(2.3)	%	0.7		0.6	%
AFUDC-Equity	(2.9)		(2.1)	%	(1.9)		(1.7)	%
Domestic production activities deferral	1.3		0.9	%	1.1		1.0	%

Other, net	0.7		0.5	%	1.0		0.8	%
Total income tax expense	$	21.0	15.0	%	$	23.6	21.6	%

	Six Months Ended June 30, 2025				Six Months Ended June 30, 2024
(in millions)	Amount		Effective Tax Rate		Amount		Effective Tax Rate
Statutory federal income tax	$	77.9	21.0	%	$	58.5	21.0	%
State income taxes net of federal tax benefit	21.4		5.8	%	16.5		5.9	%

PTCs, net	(20.3)		(5.5)	%	(8.2)		(3.0)	%
Federal excess deferred tax amortization	(11.2)		(3.0)	%	(9.2)		(3.3)	%
Tax repairs	(8.4)		(2.3)	%	1.8		0.7	%
AFUDC-Equity	(7.9)		(2.1)	%	(5.1)		(1.8)	%

Domestic production activities deferral	3.3		0.9	%	2.8		1.0	%
Other, net	1.5		0.4	%	2.3		0.8	%
Total income tax expense	$	56.3	15.2	%	$	59.4	21.3	%

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