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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | Components of income tax expense are as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current income tax expense: |  |  |  |  |
State income tax | $ | 2 |  |  | $ | 1 |  |  | $ | 2 |
Canadian federal and provincial income tax | 143 |  |  | 83 |  |  | 48 |
Total current income tax expense | $ | 145 |  |  | $ | 84 |  |  | $ | 50 |
Deferred income tax expense/(benefit): |  |  |  |  |
Canadian federal and provincial income tax | $ | (24) |  |  | $ | 105 |  |  | $ | 23 |
Total deferred income tax expense/(benefit) | $ | (24) |  |  | $ | 105 |  |  | $ | 23 |
Total income tax expense | $ | 121 |  |  | $ | 189 |  |  | $ | 73 |
Schedule of Differences Between Tax Expense based on the Statutory Federal Income Tax Rate and the Effective Income Tax Expense | The difference between income tax expense based on the statutory federal income tax rate and our effective income tax expense is summarized as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Income before tax | $ | 1,623 |  | $ | 1,417 |  | $ | 721
Partnership earnings not subject to Canadian tax | (1,136) |  | (686) |  | (370)
| $ | 487 |  | $ | 731 |  | $ | 351
Canadian federal and provincial corporate tax rate | 24% |  | 24% |  | 24%
Income tax expense at statutory rate | $ | 117 |  | $ | 175 |  | $ | 84
Canadian permanent differences | $ | 2 |  | $ | 13 |  | $ | (13)
State income tax | 2 |  | 1 |  | 2
Total income tax expense | $ | 121 |  | $ | 189 |  | $ | 73
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are aggregated by the applicable tax paying entity and jurisdiction and result from the following (in millions):
| December 31,
| 2023 |  | 2022
Deferred tax assets: |  |  |
Lease liabilities | $ | 40 |  |  | $ | 45 |
Other | 45 |  |  | 16 |
Total deferred tax assets | 85 |  |  | 61 |
Deferred tax liabilities: |  |  |
Property and equipment in excess of tax values | (573) |  |  | (515) |
Derivative instruments | (6) |  |  | (46) |
Lease assets | (38) |  |  | (42) |
Other | (3) |  |  | (3) |
Total deferred tax liabilities | (620) |  |  | (606) |
Net deferred tax liabilities | $ | (535) |  |  | $ | (545) |
Balance sheet classification of deferred tax assets/(liabilities): |  |  |
Other long-term liabilities and deferred credits | $ | (535) |  |  | $ | (545) |
| $ | (535) |  |  | $ | (545) |

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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