XML 70 R48.htm IDEA: XBRL DOCUMENT v3.25.4
Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]  
Schedule of rollforward changes in benefit obligation and plan assets
Presented in the table below is a rollforward of the changes in the benefit obligation and plan assets for the two most recent years, for all plans combined:
 Pension BenefitsOther Benefits
2025202420252024
Change in benefit obligation:    
Benefit obligation as of January 1,$1,560 $1,622 $225 $247 
Service cost15 17 2 2 
Interest cost87 83 12 12 
Plan participants' contributions— — 3 3 
Actuarial loss (gain)35 (55)3 (18)
Settlements — (2)— — 
Gross benefits paid(179)(105)(22)(22)
Federal subsidy— — 1 1 
Benefit obligation as of December 31,$1,518 $1,560 $224 $225 
Change in plan assets:    
Fair value of plan assets as of January 1,$1,392 $1,431 $253 $258 
Actual return on plan assets152 19 19 11 
Employer contributions46 49 3 3 
Plan participants' contributions— — 3 3 
Settlements— (2)— — 
Benefits paid(179)(105)(22)(22)
Fair value of plan assets as of December 31,$1,411 $1,392 $256 $253 
Funded value as of December 31,$(107)$(168)$32 $28 
Amounts recognized on the balance sheet:    
Noncurrent asset$62 $51 $33 $29 
Current liability(2)(2)— — 
Noncurrent liability(167)(217)(1)(1)
Net amount recognized$(107)$(168)$32 $28 
Schedule of accumulated other comprehensive income and regulatory assets
Presented in the table below are the components of accumulated other comprehensive income and regulatory assets that have not been recognized as components of periodic benefit costs as of December 31:
 Pension BenefitsOther Benefits
2025202420252024
Net actuarial loss$289 $337 $9 $13 
Prior service credit(2)(5)(52)(84)
Net amount recognized$287 $332 $(43)$(71)
Regulatory assets (liabilities)$261 $304 $(43)$(71)
Accumulated other comprehensive income26 28 — — 
Total$287 $332 $(43)$(71)
Schedule of projected benefit obligation, accumulated benefit obligation and fair value of plan assets
Presented in the tables below are the aggregate projected benefit obligation, accumulated benefit obligation and aggregate fair value of plan assets for pension plans with a projected obligation in excess of plan assets as of December 31:
Projected Benefit Obligation Exceeds the Fair Value of Plans' Assets
20252024
Projected benefit obligation$912 $916 
Fair value of plan assets743 697 
 Accumulated Benefit Obligation Exceeds the Fair Value of Plans' Assets
20252024
Accumulated benefit obligation$849 $852 
Fair value of plan assets743 697 
Schedule of expected cash flows for pension and postretirement benefit plans
Presented in the table below is information about the expected cash flows for the pension and postretirement benefit plans:
Pension BenefitsOther Benefits
2026 expected employer contributions:
  
To plan trusts$44 $— 
To plan participants2 — 
Schedule of expected benefit payments
Presented in the table below are the net benefits expected to be paid from the plan assets or the Company’s assets:
 Pension BenefitsOther Benefits
Expected Benefit PaymentsExpected Benefit PaymentsExpected Federal Subsidy Payments
2026$119 $22 $1 
2027121 22 1 
2028121 21 1 
2029122 21 1 
2030122 20 — 
2031-2035590 88 2 
Schedule of significant assumptions of pension and other postretirement benefit plans
Presented in the table below are the significant assumptions related to the pension and other postretirement benefit plans:
 Pension BenefitsOther Benefits
 202520242023202520242023
Weighted average assumptions used to determine December 31 benefit obligations:      
Discount rate5.54%5.70%5.18%5.46%5.69%5.22%
Rate of compensation increase3.45%3.51%3.51%N/AN/AN/A
Medical trendN/AN/AN/Agraded fromgraded fromgraded from
    
7.00% in 2026
6.50% in 2025
6.75% in 2024
    
to 5.00% in 2032+
to 5.00% in 2031+
to 5.00% in 2031+
Weighted average assumptions used to determine net periodic cost:      
Discount rate5.70%5.18%5.58%5.69%5.22%5.60%
Expected return on plan assets6.63%6.73%6.79%5.00%5.00%5.00%
Rate of compensation increase3.45%3.51%3.51%N/AN/AN/A
Medical trendN/AN/AN/Agraded fromgraded fromgraded from
    
6.50% in 2025
6.75% in 2024
7.00% in 2023
    
to 5.00% in 2031+
to 5.00% in 2031+
to 5.00% in 2031+
NOTE:     “N/A” in the table above means assumption is not applicable.
Schedule of components of net periodic benefit costs
Presented in the table below are the components of net periodic benefit costs for the years ended December 31:
202520242023
Components of net periodic pension benefit cost (credit):   
Service cost$15 $17 $17 
Interest cost87 83 85 
Expected return on plan assets(90)(94)(94)
Amortization of prior service (credit) cost(3)(3)(3)
Amortization of actuarial loss21 22 13 
Settlements— 1 1 
Net periodic pension benefit cost (credit)$30 $26 $19 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:   
Current year actuarial (gain) loss$— $(1)$3 
Amortization of actuarial loss(1)— (4)
Total recognized in other comprehensive income(1)(1)(1)
Total recognized in net periodic benefit cost (credit) and other comprehensive income$29 $25 $18 
Components of net periodic other postretirement benefit (credit) cost:   
Service cost$2 $2 $2 
Interest cost12 12 14 
Expected return on plan assets(12)(12)(12)
Amortization of prior service credit(31)(31)(31)
Amortization of actuarial loss— — 2 
Net periodic other postretirement benefit (credit) cost$(29)$(29)$(25)
Pension Plan Asset  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of changes in fair value of plan assets
Presented in the tables below are the fair values and asset allocations of the pension plan assets as of December 31, 2025 and 2024, respectively, by asset category:
Asset CategoryTotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3) (a)Net Asset Value as a Practical Expedient Percentage of Plan Assets as of December 31, 2025
Cash$23 $23 $— $— $— 2 %
Equity securities:     
U.S. large cap158 40 — — 118 11 %
U.S. small cap32 32 — — — 2 %
International299 — — — 299 21 %
Real estate fund122 — — — 122 9 %
REITs7 — — — 7 — %
Fixed income securities:    
U.S. Treasury securities and government bonds257 194 13 — 50 19 %
Corporate bonds459 — 459 — — 33 %
Mortgage-backed securities5 — 5 — — — %
Municipal bonds18 — 18 — — 1 %
Guarantee annuity contracts31 — — 31 — 2 %
Total$1,411 $289 $495 $31 $596 100 %
Asset CategoryTotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3) (a)Net Asset Value as a Practical ExpedientPercentage of Plan Assets as of December 31, 2024
Cash$40 $40 $— $— $— 3 %
Equity securities:     
U.S. large cap155 29 — — 126 11 %
U.S. small cap34 34 — — — 2 %
International258 — — — 258 19 %
Real estate fund120 — — — 120 9 %
REITs6 — — — 6 — %
Fixed income securities:    
U.S. Treasury securities and government bonds232 169 1 — 62 17 %
Corporate bonds489 — 489 — — 35 %
Mortgage-backed securities6 — 6 — — — %
Municipal bonds20 — 20 — — 2 %
Guarantee annuity contracts32 — — 32 — 2 %
Total$1,392 $272 $516 $32 $572 100 %
(a)There were no material changes during the period for the fair value measurements using significant unobservable inputs (Level 3) for the years ended December 31, 2025 and 2024, respectively.
Postretirement Benefit Plan Assets  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of changes in fair value of plan assets
Presented in the tables below are the fair values and asset allocations of the postretirement benefit plan assets as of December 31, 2025 and 2024, respectively, by asset category:
Asset CategoryTotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Net Asset Value as a Practical Expedient Percentage of Plan Assets as of December 31, 2025
Bargained VEBA:     
Cash$5 $5 $— $— $— 5 %
Fixed income securities:    
U.S. Treasury securities and government bonds7 7 — — — 7 %
Corporate bonds85 — 85 — — 85 %
Municipal bonds3 — 3 — — 3 %
Total bargained VEBA$100 $12 $88 $— $— 100 %
Active VEBA:
Cash$3 $3 $— $— $— 12 %
Fixed income securities:
U.S. Treasury securities and government bonds2 2 — — — 8 %
Corporate bonds19 — 19 — — 76 %
Municipal bonds1 — 1 — — 4 %
Total Active VEBA$25 $5 $20 $— $— 100 %
Non-bargained VEBA:     
Cash$3 $3 $— $— $— 2 %
Equity securities:     
U.S. large cap46 46 — — — 35 %
International31 31 — — — 24 %
Fixed income securities:    
U.S. Treasury securities and government bonds1 1 — — — 1 %
Municipal bonds50 — 50 — — 38 %
Total non-bargained VEBA$131 $81 $50 $— $— 100 %
Total$256 $98 $158 $— $— 100 %
Asset CategoryTotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Net Asset Value as a Practical ExpedientPercentage of Plan Assets as of December 31, 2024
Bargained VEBA:     
Cash$4 $4 $— $— $— 4 %
Fixed income securities:    
U.S. Treasury securities and government bonds7 7 — — — 7 %
Corporate bonds83 — 83 — — 86 %
Municipal bonds3 — 3 — — 3 %
Total bargained VEBA$97 $11 $86 $— $— 100 %
Active VEBA:
Cash$2 $2 $— $— $— 7 %
Fixed income securities:
U.S. Treasury securities and government bonds2 2 — — — 7 %
Corporate bonds23 — 23 — — 82 %
Municipal bonds1 — 1 — — 4 %
Total Active VEBA$28 $4 $24 $— $— 100 %
Non-bargained VEBA:     
Cash$3 $3 $— $— $— 2 %
Equity securities:     
U.S. large cap46 46 — — — 36 %
International30 30 — — — 23 %
Fixed income securities:    
U.S. Treasury securities and government bonds1 1 — — — 1 %
Municipal bonds48 — 48 — — 38 %
Total non-bargained VEBA$128 $80 $48 $— $— 100 %
Total$253 $95 $158 $— $— 100 %