Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Regulatory Assets and Liabilities Disclosure [Abstract]

Components of regulatory assets:


(Millions of Dollars)	See Note(s)	Remaining Amortization Period	Dec. 31, 2021				Dec. 31, 2020
Regulatory Assets			Current		Noncurrent		Current		Noncurrent
Pension and retiree medical obligations	9	Various	$	26	$	331	$	28	$	478
Deferred natural gas, electric, steam energy/fuel costs		One to three years	218		320		6		—
Depreciation differences		One to ten years	16		173		16		154
Net AROs (a)	1, 10	Various	—		154		—		132
Recoverable deferred taxes on AFUDC		Plant lives	—		116		—		110
Excess deferred taxes — TCJA	7	Various	2		56		3		56
Purchased power contract costs		Term of related contract	3		19		3		22
Property tax		Various	16		16		16		21
Gas pipeline inspection costs		One to two years	—		12		—		9
Conservation programs (b)	1	One to two years	11		11		11		11
Losses on reacquired debt		Term of related debt	1		2		1		3
Contract valuation adjustments (c)	1, 8	Less than one year	3		—		6		—
Other		Various	57		83		31		63
Total regulatory assets			$	353	$	1,293	$	121	$	1,059

(a)Includes amounts recorded for future recovery of AROs.

(b)Includes costs for conservation programs, as well as incentives allowed in certain jurisdictions.

(c)Includes the fair value of certain long-term PPAs used to meet energy capacity requirements and valuation adjustments on natural gas commodity purchases.

Regulatory Liabilities

Components of regulatory liabilities:


(Millions of Dollars)	See Note(s)	Remaining Amortization Period	Dec. 31, 2021				Dec. 31, 2020
Regulatory Liabilities			Current		Noncurrent		Current		Noncurrent
Deferred income tax adjustments and TCJA refunds (a)	7	Various	$	2	$	1,328	$	5	$	1,368
Plant removal costs	1, 10	Various	—		651		—		615
Effects of regulation on employee benefit costs (b)		Various	—		216		—		203
Renewable resources and environmental initiatives		Various	—		91		—		59
ITC deferrals	1	Various	—		42		—		40
Revenue decoupling		One to two years	9		41		10		41
Conservation programs (c)	1	Less than one year	34		—		39		—
Deferred natural gas, electric, steam energy/fuel costs		Less than one year	29		—		17		—
Other		Various	21		28		29		11
Total regulatory liabilities (d)			$	95	$	2,397	$	100	$	2,337

(a)Includes the revaluation of recoverable/regulated plant accumulated deferred income taxes and revaluation impact of non-plant accumulated deferred income taxes due to the TCJA.

(b)Includes regulatory amortization and certain 2018 TCJA benefits approved by the CPUC to offset the prepaid pension asset.

(c)Includes costs for conservation programs, as well as incentives allowed in certain jurisdictions.

(d)Revenue subject to refund of $2 million for 2021 is included in other current liabilities and none for 2020.