Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxes on Income

INCOME TAXES:

The following table provides a summary of the current and deferred components of income tax benefit for the year ended December 31, 2019. The years ended December 31, 2021 and 2020 are excluded from the table below, because income tax expense is no longer significant to the Company subsequent to the PEPL Restructuring in 2019.

	Year Ended December 31,
	2019
Current expense:
Federal	$	31
State	8
Total	39
Deferred benefit:
Federal	$	(349)
State	(92)
Total	(441)
Total income tax benefit	$	(402)

The differences between the Company’s effective income tax rate and the United States federal income tax statutory rate are primarily due to state income taxes and, subsequent to the PEPL Restructuring in 2019, due to partnership earnings not subject to tax. In addition, for the year ended December 31, 2019 income tax expense was also impacted by a benefit of $428 million due to the change in tax status associated with the PEPL Restructuring.

The Company is no longer subject to examination by the Internal Revenue Service and most state jurisdictions for 2013 and prior years. However, the Company is currently under state income tax examination for its 2013 and 2014 years.