INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following tables reconcile the effective tax rate to the federal income tax statutory rate for the three and nine months ended September 30, 2023 and 2022:

	For the Three Months						For the Nine Months
	Ended September 30,						Ended September 30,
	2023			2022			2023			2022
	(In millions)
Income before income taxes (continuing operations)	$	470		$	449		$	1,198		$	1,061
Federal income tax expense at statutory rate (21%)	$	99		$	94		$	252		$	223
Increases (reductions) in tax expense resulting from:
State income taxes, net of federal tax benefit	25			25			49			68
AFUDC equity and other flow-through	(15)			(8)			(25)			(23)
Excess deferred tax amortization due to the Tax Act	2			(15)			(30)			(46)
Federal tax credits claimed	(2)			(3)			(2)			(3)
Valuation allowances	(122)			(8)			(113)			26
Remeasurement of state deferred taxes due to law changes	—			4			—			(22)
Uncertain tax positions	50			2			50			2
Other, net	(8)			14			12			12
Total income taxes (continuing operations)	$	29		$	105		$	193		$	237
Effective income tax rate (continuing operations)	6.0		%	23.4		%	16.1		%	22.3		%