XML 93 R79.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Current portion of income tax provision:          
Federal $ 0 $ (14) $ 0 $ (10)  
State (10) (10) (22) (21)  
Total current portion (10) (24) (22) (31)  
Deferred portion of income tax provision:          
Federal (4) 11 (8) 4  
State (1) 0 (6) 4  
Total deferred portion (5) 11 (14) 8  
Total provision for income taxes (15) $ (13) (36) $ (23)  
Deferred tax liabilities:          
Attributable to investment in OTA [1] 450   450   $ 436
Attributable to property, plant and equipment 143   143   138
Attributable to investments in other entities 4   4   4
Other 84   84   83
Total deferred tax liabilities 681   681   661
Deferred tax assets:          
Net operating loss carryovers [2] 52   52   46
Temporary differences related to Texas Margin Tax 4   4   4
Total deferred tax assets 56   56   50
Total net deferred tax liabilities $ 625   $ 625   $ 611
[1] Represents the deferred tax liability balance held by our wholly owned subsidiary, OTA Holdings, Inc. ("OTA"), which we acquired in March 2020.
[2] The loss amount presented as of June 30, 2024 has an indefinite carryover period.  All losses are subject to limitations on their utilization.