Provision (Benefit) for Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Expense (Benefit), Continuing Operations [Abstract]

Schedule of Components of Provision (benefit) for income taxes [Table Text Block]

The Provision (benefit) for income taxes includes:

	Year Ended December 31,
	2020		2019		2018
	(Millions)
Current:
Federal	$	(29)	$	(41)	$	(83)
State	—		(5)		1
Foreign	—		2		—
	(29)		(44)		(82)
Deferred:
Federal	98		280		183
State	10		99		37
	108		379		220
Provision (benefit) for income taxes	$	79	$	335	$	138

Provision for income taxes at federal statutory rate [Table Text Block]

Reconciliations from the Provision (benefit) at statutory rate to recorded Provision (benefit) for income taxes are as follows:

	Year Ended December 31,
	2020		2019		2018
	(Millions)
Provision (benefit) at statutory rate	$	58	$	224	$	69
Increases (decreases) in taxes resulting from:
Impact of nontaxable noncontrolling interests	3		29		(73)
State income taxes (net of federal benefit)	6		74		(10)
State deferred income tax rate change	—		—		38
Federal valuation allowance	1		3		105
Other – net	11		5		9
Provision (benefit) for income taxes	$	79	$	335	$	138

Deferred tax liabilities and Deferred tax assets [Table Text Block]

Significant components of Deferred income tax liabilities and Deferred income tax assets are as follows:

	December 31,
	2020		2019
	(Millions)
Deferred income tax liabilities:
Property, plant and equipment	$	2,320	$	1,921
Investments	1,515		1,411
Other	140		82
Total deferred income tax liabilities	3,975		3,414
Deferred income tax assets:
Accrued liabilities	747		729
Minimum tax credit	—		29
Foreign tax credit	140		140
Federal loss carryovers	905		544
State losses and credits	445		362
Other	140		147
Total deferred income tax assets	2,377		1,951
Less valuation allowance	325		319
Net deferred income tax assets	2,052		1,632
Overall net deferred income tax liabilities	$	1,923	$	1,782