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INCOME TAXES (Tables)
6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Federal and state income tax expense and the statutory tax rate and the actual effective tax rate consist of the following:
TABLE 14.1
Three Months Ended
June 30,
Six Months Ended
June 30,
(dollars in millions)2022202120222021
Current income taxes:
Federal taxes$22 $19 $29 $40 
State taxes3 5 
Total current income taxes25 20 34 43 
Deferred income taxes:
Federal taxes3 8 
State taxes  
Total deferred income taxes3 8 
Total income taxes$28 $25 $42 $47 
Statutory tax rate21.0 %21.0 %21.0 %21.0 %
Effective tax rate20.1 19.7 20.4 19.3