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Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The following tables present the components of our net periodic benefit (credit) cost, prior to capitalization and co-owner allocations, for the three and nine months ended September 30, 2024 and 2023:

			Pension Benefits												OPEB												Total Pension Benefits and OPEB
			Three Months Ended September 30,												Three Months Ended September 30,												Three Months Ended September 30,
			2024						2023						2024						2023						2024						2023
Components of net periodic benefit (credit) cost
Service cost			$	22					$	22					$	4					$	4					$	26					$	26
Non-service components of pension benefits & OPEB (credit) cost
Interest cost			95						99						18						19						113						118
Expected return on assets			(123)						(127)						(11)						(11)						(134)						(138)
Amortization of:
Prior service (credit) cost			1						—						(2)						(2)						(1)						(2)
Actuarial (gain) loss			25						12						(3)						(3)						22						9
Settlement charges			3						—						—						—						3						—
Non-service components of pension benefits & OPEB (credit) cost			1						(16)						2						3						3						(13)
Net periodic benefit (credit) cost(a)			$	23					$	6					$	6					$	7					$	29					$	13

			Pension Benefits												OPEB												Total Pension Benefits and OPEB
			Nine Months Ended September 30,												Nine Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023						2024						2023
Components of net periodic benefit (credit) cost:
Service cost			$	67					$	67					$	13					$	12					$	80					$	79
Non-service components of pension benefits & OPEB (credit) cost:
Interest cost			286						296						54						56						340						352
Expected return on assets			(371)						(381)						(32)						(34)						(403)						(415)
Amortization of:
Prior service (credit) cost			1						—						(5)						(5)						(4)						(5)
Actuarial (gain) loss			76						35						(7)						(10)						69						25
Settlement charges			7						—						—						—						7						—
Non-service components of pension benefits & OPEB (credit) cost			(1)						(50)						10						7						9						(43)
Net periodic benefit (credit) cost(a)			$	66					$	17					$	23					$	19					$	89					$	36

__________

(a)The pension benefit and OPEB service costs reflected in the Consolidated Statements of Operations and Comprehensive Income is $24 million and $74 million for the three and nine months ended September 30, 2024, respectively, and $24 million and $71 million for the three and nine months ended September 30, 2023, respectively.

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- References

No definition available.

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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