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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities at December 31, 2016 and 2015, are as follows:

(in millions)		2016				2015
DEFERRED TAX LIABILITIES:
Accelerated depreciation		$	4,726			$	4,429
Other		134				62
Total deferred tax liabilities		4,860				4,491
DEFERRED TAX ASSETS:
Fuel derivative instruments		233				750
Construction obligation		402				289
Accrued employee benefits		451				541
Other		400				421
Total deferred tax assets		1,486				2,001
Net deferred tax liability		$	3,374			$	2,490

Components of the Income Tax Provision

The provision for income taxes is composed of the following:

(in millions)		2016				2015				2014
CURRENT:
Federal		$	778			$	1,292			$	203
State		69				114				29
Total current		847				1,406				232
DEFERRED:
Federal		426				(97		)		421
State		30				(11		)		27
Total deferred		456				(108		)		448
		$	1,303			$	1,298			$	680

Income Tax Provision Reconciliation To Federal Income Tax Statutory Rate

The effective tax rate on income before income taxes differed from the federal income tax statutory rate for the following reasons:

(in millions)		2016				2015				2014
Tax at statutory U.S. tax rates		$	1,241			$	1,218			$	636
State income taxes, net of federal benefit		64				66				37
Other, net		(2		)		14				7
Total income tax provision		$	1,303			$	1,298			$	680

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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