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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of income tax expense

Presented in the table below are the components of income tax expense for the years ended December 31:

			2025						2024						2023
Current income taxes:
State			$	25					$	16					$	16
Federal			151						136						28
Total current income taxes			$	176					$	152					$	44
Deferred income taxes:
State			$	36					$	53					$	44
Federal			100						104						165
Amortization of deferred investment tax credits			(1)						(1)						(1)
Total deferred income taxes			135						156						208
Provision for income taxes			$	311					$	308					$	252

Schedule of reconciliation of income tax expense

Presented in the table below is a reconciliation between the statutory federal tax rate and the Company’s effective tax rate for the years ended December 31:

			2025												2024												2023
			Amount						Percent						Amount						Percent						Amount						Percent
U.S. federal statutory tax rate			$	299					21.0		%				$	285					21.0		%				$	251					21.0		%
State and local income taxes, net of federal income tax effect (a)			48						3.4		%				54						4.0		%				48						4.0		%
Nontaxable or nondeductible items			5						0.4		%				5						0.3		%				4						0.3		%
Change in unrecognized tax benefits			(8)						(0.6)		%				2						0.2		%				3						0.2		%
Other adjustments:
Excess accumulated deferred income taxes			(39)						(2.8)		%				(37)						(2.7)		%				(51)						(4.2)		%
Other			6						0.5		%				(1)						(0.1)		%				(3)						(0.2)		%
Effective tax rate			$	311					21.9		%				$	308					22.7		%				$	252					21.1		%

(a)The states that made up the majority (greater than 50 percent) of the tax effect in this category were: (i) for 2025, Pennsylvania and Illinois, (ii) for 2024, Pennsylvania and California, and (iii) for 2023, Pennsylvania and Illinois.

Schedule of Disaggregation of Income Taxes Paid, Net of Refunds Received

Presented in the table below is the disaggregation of income taxes paid (refunds received), net of refunds received of $29 million, $5 million and $30 million in 2025, 2024 and 2023, respectively, for the years ended December 31:

			2025						2024						2023
Federal			$	185					$	—					$	12
State			5						(5)						(12)
Total			$	190					$	(5)					$	—

Income taxes paid (net of refunds received) exceeded 5% of total income taxes paid (net of refunds received) in the following states for the years ended December 31:

			2025						2024						2023
State:
Iowa			*						$	(1)					*
Kentucky			*						$	(2)					*
Massachusetts			*						*						$	(2)
New Jersey			*						*						$	(23)
Pennsylvania			*						$	(1)					$	13
Tennessee			*						*						$	1

(*)Jurisdiction below the threshold for the period presented.

Schedule of net deferred tax liability

Presented in the table below are the components of the net deferred tax liability as of December 31:

			2025						2024
Deferred tax assets:
Advances and contributions			$	519					$	493
Tax losses and credits			215						128
Regulatory income tax assets			161						181
Pension and other postretirement benefits			31						64
Other			166						163
Total deferred tax assets			1,092						1,029
Valuation allowance			(9)						(8)
Total deferred tax assets, net of allowance			$	1,083					$	1,021
Deferred tax liabilities:
Property, plant and equipment			$	4,021					$	3,553
Deferred pension and other postretirement benefits			75						86
Other			157						244
Total deferred tax liabilities			4,253						3,883
Total deferred tax liabilities, net of deferred tax assets			$	(3,170)					$	(2,862)

Schedule of gross liability excluding interest and penalties for unrecognized tax benefits

Presented in the table below are the changes in gross liability, excluding interest and penalties, for unrecognized tax benefits:

			Amount
Balance as of January 1, 2023			$	158
Increases in current period tax positions			27
Decreases in prior period measurement of tax positions			(37)
Balance as of December 31, 2023			$	148
Increases in current period tax positions			34
Increases in prior period measurement of tax positions			21
Balance as of December 31, 2024			$	203
Increases in current period tax positions			31
Decreases in prior period measurement of tax positions			(118)
Balance as of December 31, 2025			$	116

Schedule of changes in valuation allowance

Presented in the table below are the changes in the valuation allowance:

			Amount
Balance as of January 1, 2023			$	11
Increases in valuation allowance			—
Balance as of December 31, 2023			$	11
Decreases in valuation allowance			(3)
Balance as of December 31, 2024			$	8
Increases in valuation allowance			1
Balance as of December 31, 2025			$	9

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