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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities at December 31, 2017 and 2016, are as follows:

(in millions)		2017				2016
DEFERRED TAX LIABILITIES:
Accelerated depreciation		$	3,193			$	4,726
Other		86				134
Total deferred tax liabilities		3,279				4,860
DEFERRED TAX ASSETS:
Fuel derivative instruments		12				233
Construction obligation		326				402
Accrued employee benefits		309				451
Other		274				400
Total deferred tax assets		921				1,486
Net deferred tax liability		$	2,358			$	3,374

Components of the Income Tax Provision

The provision for income taxes is composed of the following:

(in millions)		2017				2016				2015
CURRENT:
Federal		$	904			$	778			$	1,292
State		72				69				114
Total current		976				847				1,406
DEFERRED:
Federal		192				426				(97		)
State		5				30				(11		)
Change in federal statutory tax rate		(1,410		)		—				—
Total deferred		(1,213		)		456				(108		)
		$	(237	)		$	1,303			$	1,298

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)		2017				2016				2015
Tax at statutory U.S. tax rates		$	1,138			$	1,241			$	1,218
State income taxes, net of federal benefit		50				64				66
Change in federal statutory tax rate		(1,410		)		—				—
Other, net		(15		)		(2		)		14
Total income tax provision		$	(237	)		$	1,303			$	1,298

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- References

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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=84230637&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=84230637&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=84230637&loc=d3e32687-109319

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