Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Expense Disclosure [Table Text Block]

The components of CERC’s income tax expense (benefit) were as follows:



	Year Ended December 31,
	2017			2016		2015
	(in millions)
Current income tax expense:
State	$	1		$	6	$	3
Total current expense	1			6		3
Deferred income tax expense (benefit):
Federal	(193		)	130		(488		)
State	31			26		(54		)
Total deferred expense (benefit)	(162		)	156		(542		)
Total income tax expense (benefit)	$	(161	)	$	162	$	(539	)

Reconciliation Of Expected Federal Income Tax Expense To Actual [Table Text Block]

A reconciliation of income tax expense (benefit) using the federal statutory income tax rate to the actual income tax expense and resulting effective income tax rate is as follows:



	Year Ended December 31,
	2017			2016			2015
	(in millions)
Income (loss) before income taxes	$	584		$	407		$	(1,451	)
Federal statutory income tax rate	35		%	35		%	35		%
Expected federal income tax expense (benefit)	204			142			(508		)
Increase (decrease) in tax expense resulting from:
State income tax expense, net of federal income tax	18			17			(33		)
State valuation allowance, net of federal income tax	3			3			—
Federal income tax rate reduction	(396		)	—			—
Other, net	10			—			2
Total	(365		)	20			(31		)
Total income tax expense (benefit)	$	(161	)	$	162		$	(539	)
Effective tax rate	(28		)%	40		%	37		%

Income Tax Asset Liability Disclosure [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows:



	December 31,
	2017			2016
	(in millions)
Deferred tax assets:
Benefits and compensation	$	27		$	45
Loss and credit carryforwards	288			451
Regulatory liabilities	150			39
Asset retirement obligations	60			64
Other	18			18
Valuation allowance	(7		)	(5		)
Total deferred tax assets	536			612
Deferred tax liabilities:
Property, plant, and equipment	745			1,017
Investment in unconsolidated affiliates	927			1,383
Regulatory assets	38			47
Other	115			90
Total deferred tax liabilities	1,825			2,537
Net deferred tax liabilities	$	1,289		$	1,925