Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes (Tables) [Abstract]

Details of Income Taxes as Reported

		Years Ended December 31,
		2011		2010		2009
		(in millions)
Federal:
	Current	$	20	$	(134)	$	(575)
	Deferred		786		760		1,171
Total Federal			806		626		596
State and Local:
	Current		37		(20)		(76)
	Deferred		(25)		38		55
Total State and Local			12		18		(21)
International:
	Current		-		(1)		-
	Deferred		-		-		-
Total International			-		(1)		-
Income Tax Expense		$	818	$	643	$	575

Reconciliation of Federal Statutory Tax Rate to Reported Tax Rate

			Years Ended December 31,
			2011			2010			2009
			(in millions)
Net Income			$	1,949		$	1,218		$	1,365
Extraordinary Items, Net of Tax of $(112) million and $3 million in 2011
	and 2009, respectively			(373)			-			5
Income Before Extraordinary Items				1,576			1,218			1,370
Income Tax Expense				818			643			575
Pretax Income			$	2,394		$	1,861		$	1,945
Income Taxes on Pretax Income at Statutory Rate (35%)			$	838		$	651		$	681
Increase (Decrease) in Income Taxes resulting from the following items:
		Depreciation		41			47			31
		Investment Tax Credits, Net		(15)			(16)			(19)
		Energy Production Credits		(18)			(20)			(15)
		State and Local Income Taxes, Net		(22)			11			(14)
		Removal Costs		(20)			(19)			(19)
		AFUDC		(42)			(33)			(36)
		Medicare Subsidy		1			12			(11)
		Valuation Allowance		86			-			-
		Tax Reserve Adjustments		2			(16)			(6)
		Other		(33)			26			(17)
Income Tax Expense			$	818		$	643		$	575
Effective Income Tax Rate				34.2	%		34.6	%		29.6	%

Reconciliation of Significant Temporary Differences

	December 31,
	2011		2010
	(in millions)
Deferred Tax Assets	$	2,855	$	2,519
Deferred Tax Liabilities		(11,185)		(10,009)
Net Deferred Tax Liabilities	$	(8,330)	$	(7,490)
Property Related Temporary Differences	$	(5,963)	$	(5,301)
Amounts Due from Customers for Future Federal Income Taxes		(259)		(250)
Deferred State Income Taxes		(668)		(622)
Securitized Transition Assets		(621)		(651)
Regulatory Assets		(1,208)		(867)
Postretirement Benefits		424		356
Accrued Pensions		149		218
Deferred Income Taxes on Other Comprehensive Loss		254		207
Accrued Nuclear Decommissioning		(436)		(395)
Net Operating Loss Carryforward		125		-
Tax Credit Carryforward		182		-
Valuation Allowance		(86)		-
All Other, Net		(223)		(185)
Net Deferred Tax Liabilities	$	(8,330)	$	(7,490)

State Net Income Tax Operating Loss Carryforwards

	State Net Income
	Tax Operating
	Loss		Year of
State	Carryforward		Expiration
	(in millions)
Oklahoma	$	135	2031
Tennessee		13	2026
Virginia		358	2031
West Virginia		511	2031

Summary of Interest Income, Expense And Reversal

	Years Ended December 31,
	2011		2010		2009
	(in millions)
Interest Expense	$	8	$	8	$	1
Interest Income		22		11		5
Reversal of Prior Period Interest Expense		13		5		5

Amounts Accrued For Interest Related to Uncertain Tax Positions

	December 31,
	2011		2010
	(in millions)
Accrual for Receipt of Interest	$	13	$	42
Accrual for Payment of Interest and Penalties		6		21

Reconciliation of Beginning and Ending Unrecognized Tax Benefits

	2011		2010		2009
	(in millions)
Balance at January 1,	$	219	$	237	$	237
Increase - Tax Positions Taken During a Prior Period		51		40		56
Decrease - Tax Positions Taken During a Prior Period		(43)		(43)		(65)
Increase - Tax Positions Taken During the Current Year		10		-		16
Decrease - Tax Positions Taken During the Current Year		-		(6)		-
Increase - Settlements with Taxing Authorities		-		-		1
Decrease - Settlements with Taxing Authorities		(31)		(2)		-
Decrease - Lapse of the Applicable Statute of Limitations		(38)		(7)		(8)
Balance at December 31,	$	168	$	219	$	237