Comprehensive Income

12 Months Ended

Dec. 31, 2024

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(16) Comprehensive Income:

Comprehensive income consists of net income and other gains and losses affecting shareholders’ equity and pension/postretirement benefit (OPEB) liabilities that, under GAAP, are excluded from net income (loss).

The components of accumulated other comprehensive income, net of tax, are as follows:



($ in millions)	OPEB Costs
Balance at December 31, 2021 ⁽¹⁾	$	60
Other comprehensive income
before reclassifications		30
Amounts reclassified from accumulated other
comprehensive income to net income		(11)
Net current-period other comprehensive
income		19
Balance at December 31, 2022 ⁽¹⁾	$	79
Other comprehensive income
before reclassifications		34
Amounts reclassified from accumulated other
comprehensive income to net income		(17)
Net current-period other comprehensive
income		17
Balance at December 31, 2023 ⁽¹⁾	$	96
Other comprehensive income
before reclassifications		-
Amounts reclassified from accumulated other
comprehensive income to net income		(19)
Net current-period other comprehensive
income		(19)
Balance at December 31, 2024 ⁽¹⁾	$	77

⁽¹⁾OPEB amounts are net of deferred tax balances of $23 million, $29 million, $23 million, and $15 million, as of December 31, 2024, 2023, 2022, and 2021, respectively.

The significant items reclassified from each component of accumulated other comprehensive loss are as follows:



	Amount Reclassified from Accumulated Other Comprehensive Loss ⁽¹⁾

Details about Accumulated Other	For the year ended		For the year ended		For the year ended		Affected line item in the
Comprehensive Loss Components	December 31,		December 31,		December 31,		statement where net
($ in millions)	2024		2023		2022		income (loss) is presented
Amortization of OPEB Cost Items⁽²⁾
Prior-service credits (costs)	$	25	$	22	$	13
Actuarial gains (losses)		-		-		-
Reclassifications, pretax		25		22		13	Income before income taxes
Tax impact		(6)		(5)		(2)	Income tax expense
Reclassifications, net of tax	$	19	$	17	$	11	Net gain

⁽¹⁾Amounts in parentheses indicate losses.

⁽²⁾These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 18 - Retirement Plans for additional details).

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