Income Taxes The components of income (loss) before income taxes are as follows: NEXTERA ENERGY PARTNERS, LP NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The components of income tax expense (benefit) are as follows: A reconciliation of U.S. federal income tax at the statutory rate to the actual income taxes is as follows: The effective tax rate was approximately 7%, 6% and 2% for the years ended December 31, 2020, 2019 and 2018, respectively.