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Other Income Tax Matters - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Examination [Line Items]      
Federal detriment $ 3 $ 4  
Federal Benefit 1 2  
Federal NOL carryforward 0 5  
Federal tax credit carryforwards 444 368  
State NOL carryforwards 0 223  
state tax credit carryforward, net of federal detirment [1] 13 16  
valuation allowances for state credit carryforwards, net of federal benefit [2] $ (3) $ (6)  
Federal statutory rate 21.00% 21.00% 21.00%
State income tax on pretax income, net of federal tax effect 3.50% 3.50% 3.60%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent [3] (14.50%) (14.30%) (14.30%)
Plant regulatory differences (b) [4] (5.50%) (4.50%) (4.60%)
Other tax credits, net NOL & tax credit allowances (1.10%) (1.10%) (1.00%)
Other, net 0.60% 0.20% 0.10%
Effective income tax rate 4.00% 4.80% 4.80%
Total income tax expense $ 29 $ 37 $ 33
Deferred tax (benefit) expense excluding items below (89) 23 63
Amortization and adjustments to deferred income taxes on income tax regulatory assets and liabilities (48) (32) (42)
Tax expense allocated to other comprehensive income and other (1) (1) 0
Total deferred tax assets (178) (10) (21)
Operating lease liabilities 392    
Adjustments to deferred income taxes for wind production tax credit cash transfers [5] (40) 0 0
Deferred Tax Assets, Valuation Allowance (3) 0  
income tax expense [Member]      
Income Tax Examination [Line Items]      
Current federal tax expense 182 39 16
Current state tax expense 28 11 0
Current change in unrecognized tax benefit 0 0 (1)
Deferred federal tax benefit (181) (32) (13)
Deferred state tax expense 2 21 31
Deferred change in unrecognized tax expense 1 1 3
Deferred ITCs 3 3 (3)
Total income tax expense 29 37 $ 33
Net Deferred Tax Liablility [Member]      
Income Tax Examination [Line Items]      
Deferred ITCs (10) (7) [6]  
Total deferred tax assets (897) (850) [6]  
Differences between book and tax bases of property 2,326 2,315 [6]  
Regulatory assets 289 243 [6]  
Operating Lease Assets 95 112 [3]  
Deferred Fuel Cost 51 125 [6]  
Pension expense and other employee benefits 22 27 [6]  
Other 8 11 [6]  
Total deferred tax liabilities 2,791 2,833 [6]  
Deferred Tax Assets, Tax Credit Carryforwards 457 385 [6]  
Regulatory Liability 291 292 [6]  
Operating lease liabilities 95 112 [6]  
Bad debts 14 14 [6]  
Operating Loss Carryforwards 0 9  
Tax Credit Valuation Allowance (6) (6) [6]  
Other 32 16 [6]  
Net deferred tax liability 1,894 1,983 [6]  
Deferred Tax Assets Rate Refund $ 4 $ 21 [6]  
[1] State tax credit carryforwards are net of federal detriment of $3 million and $4 million as of Dec. 31, 2023 and 2022, respectively.
[2] Valuation allowances for state tax credit carryforwards were net of federal benefit of $1 million and $2 million as of Dec. 31, 2023 and 2022, respectively.
[3] Wind PTCs net of estimated transfer discount are credited to customers (reduction to revenue) and do not materially impact net income.
[4] Plant regulatory differences primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit are offset by corresponding revenue reductions.
[5] Proceeds from tax credit transfers are included in cash received (paid) for income taxes in the consolidated statement of cash flows.
[6] Prior periods have been reclassified to conform to current year presentation.