INCOME TAXES (Notes) |
3 Months Ended |
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Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure | INCOME TAXES We use an estimated annual effective tax rate for purposes of determining the income tax provision during interim reporting periods. In calculating our estimated annual effective tax rate, we consider forecasted annual pre-tax income and estimated permanent book versus tax differences, as well as tax credits. Adjustments to the effective tax rate and estimates will occur as information and assumptions change. At March 31, 2026, we had no uncertain tax positions. We are no longer subject to income tax examination for years prior to 2022. Changes in tax laws or tax rates are recognized in the financial reporting period that includes the enactment date. Income tax expense reflects credits for the amortization of the regulatory liability associated with EDIT that were returned to customers of $9.5 million and $8.1 million for the three months ended March 31, 2026 and 2025, respectively. In April 2026, we received $64.3 million from the IRS, consisting of a $55.6 million federal income tax refund and $8.7 million of interest. The refund relates to the amendment of our 2022 federal income tax return following the issuance of Revenue Procedure 2024‑15 in 2024, which allows for the deferral of income taxes on securitization bond proceeds received from a qualifying state financing entity.
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