ATO · 10-Q · 2026Q2 · Full report
Income Tax Rate Changes
ATMOS ENERGY CORP · 2026-08-05 · Importance 35 · Surprise 48 · In source text
The effective tax rate increased to 20.0% from 19.2% for the three months ended June 30, 2026 and to 20.3% from 19.1% for the nine-month period.,Nine-month income tax expense increased $71.8 million, or 29.8%, to $241.5 million, based on pretax income growth and the higher effective tax rate.,The effective tax rates remained below the 21% federal statutory rate primarily because of excess deferred federal income-tax amortization, tax credits, state income taxes, and other permanent book-to-tax differences.,Regulatory excess net deferred tax liabilities totaled $86.0 million, of which $38.6 million was being returned to customers and $46.4 million was being returned provisionally.
Key facts
- Regulatory excess net deferred tax liability currently being returned to customers: $86.0 million source
- An additional $46.4 million of regulatory excess deferred tax liability is being returned to customers on a provisional basis over - years source
- Of the regulatory excess deferred tax liability, $38.6 million is being returned to customers over - months source
- The refund of the remaining $1.0 million of regulatory excess deferred tax liability will be addressed in future rate proceedings source
- As of June 30, 2026, $34.4 million is recorded in other current liabilities related to regulatory excess deferred taxes source
- As of September 30, 2025, $72.8 million was recorded in other current liabilities related to regulatory excess deferred taxes source
- Nine months drivers included an $8.2 million decrease in refunds of excess deferred taxes to customers source
- Effective tax rate for the three months ended June 30, 2026: 20.0% source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | +0.3% | Regulatory excess net deferred tax liability currently being returned to customers: $86.0 million |
| liability | positive | committed | +0.1% | An additional $46.4 million of regulatory excess deferred tax liability is being returned to customers on a provisional basis over - years |
| liability | positive | committed | +0.1% | Of the regulatory excess deferred tax liability, $38.6 million is being returned to customers over - months |
| liability | negative | contingent | 0.0% | The refund of the remaining $1.0 million of regulatory excess deferred tax liability will be addressed in future rate proceedings |