Rendering
| Component: (Network and Table) |
|---|
| Network | 100410 - Disclosure - Income Taxes (Tables) (http://www.amwater.com/20161231/taxonomy/role/DisclosureIncomeTaxesTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0001410636 (http://www.sec.gov/CIK) |
| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Components of Income Tax Expense from Continuing Operations |
The following table summarizes the components of income tax expense from continuing operations for the years ended December 31:
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
State |
$ |
20 |
|
|
$ |
10 |
|
|
$ |
11 |
|
|
Federal |
|
1 |
|
|
— |
|
|
|
15 |
|
|
Total current income taxes |
$ |
21 |
|
|
$ |
10 |
|
|
$ |
26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
State |
$ |
24 |
|
|
$ |
32 |
|
|
$ |
31 |
|
|
Federal |
|
258 |
|
|
|
265 |
|
|
|
224 |
|
|
Amortization of deferred investment tax credits |
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
Total deferred income taxes |
|
281 |
|
|
|
296 |
|
|
|
254 |
|
|
Provision for income taxes |
$ |
302 |
|
|
$ |
306 |
|
|
$ |
280 |
|
|
Reconciliation of Income Tax Expense from Continuing Operations |
The following is a reconciliation between the statutory federal income tax rate and the Company’s effective tax rate for the years ended December 31:
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Income tax at statutory rate |
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
Increases (decreases) resulting from: |
|
|
|
|
|
|
|
|
|
|
|
|
State taxes, net of federal taxes |
|
3.8 |
|
|
|
3.6 |
|
|
|
3.8 |
|
|
Federal regulatory effects |
|
0.2 |
|
|
|
0.4 |
|
|
|
0.3 |
|
|
Other, net |
|
0.2 |
|
|
|
0.1 |
|
|
|
0.3 |
|
|
Effective tax rate |
|
39.2 |
% |
|
|
39.1 |
% |
|
|
39.4 |
% |
|
Components of Net Deferred Tax Liability from Continuing Operations |
The following table provides the components of the net deferred tax liability from continuing operations as of December 31:
|
|
2016 |
|
|
2015 |
|
|
Deferred tax assets |
|
|
|
|
|
|
|
|
Advances and contributions |
$ |
540 |
|
|
$ |
513 |
|
|
Tax losses and credits |
|
301 |
|
|
|
173 |
|
|
Pension and other postretirement benefits |
|
173 |
|
|
|
181 |
|
|
Other |
|
90 |
|
|
|
32 |
|
|
Total deferred tax assets |
|
1,104 |
|
|
|
899 |
|
|
Valuation allowance |
|
(6 |
) |
|
|
(8 |
) |
|
Total deferred tax assets, net of allowance |
$ |
1,098 |
|
|
$ |
891 |
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
Property, plant and equipment |
$ |
3,339 |
|
|
$ |
2,913 |
|
|
Deferred pension and other postretirement benefits |
|
126 |
|
|
|
139 |
|
|
Other |
|
229 |
|
|
|
149 |
|
|
Total deferred tax liabilities |
|
3,694 |
|
|
|
3,201 |
|
|
Total deferred tax liabilities, net of deferred tax assets |
$ |
(2,596 |
) |
|
$ |
(2,310 |
) |
|
Changes in Gross Liability Excluding Interest and Penalties for Unrecognized Tax Benefits |
The following table summarizes the changes in the Company’s gross liability, excluding interest and penalties, for unrecognized tax benefits:
|
Balance as of January 1, 2015 |
$ |
195 |
|
|
Increases in current period tax positions |
|
39 |
|
|
Decreases in prior period measurement of tax positions |
|
(1 |
) |
|
Balance as of December 31, 2015 |
$ |
233 |
|
|
Increases in current period tax positions |
|
10 |
|
|
Decreases in prior period measurement of tax positions |
|
(74 |
) |
|
Balance as of December 31, 2016 |
$ |
169 |
|
|
Changes in Valuation Allowance |
The following table summarizes the changes in the Company’s valuation allowance:
|
Balance as of January 1, 2014 |
$ |
13 |
|
|
Decreases in current period tax positions |
|
(3 |
) |
|
Balance as of December 31, 2014 |
$ |
10 |
|
|
Decreases in current period tax positions |
|
(2 |
) |
|
Balance as of December 31, 2015 |
$ |
8 |
|
|
Decreases in current period tax positions |
|
(2 |
) |
|
Balance as of December 31, 2016 |
$ |
6 |
|
|