Provision (Benefit) for Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Expense (Benefit), Continuing Operations [Abstract]

Schedule of Components of Provision (benefit) for income taxes [Table Text Block]

The Provision (benefit) for income taxes includes:

	Year Ended December 31,
	2021		2020		2019
	(Millions)
Current:
Federal	$	(1)	$	(29)	$	(41)
State	3		—		(5)
Foreign	—		—		2
	2		(29)		(44)
Deferred:
Federal	421		98		280
State	88		10		99
	509		108		379
Provision (benefit) for income taxes	$	511	$	79	$	335

Provision for income taxes at federal statutory rate [Table Text Block]

Reconciliations from the Provision (benefit) at statutory rate to recorded Provision (benefit) for income taxes are as follows:

	Year Ended December 31,
	2021		2020		2019
	(Millions)
Provision (benefit) at statutory rate	$	435	$	58	$	224
Increases (decreases) in taxes resulting from:
Impact of nontaxable noncontrolling interests	(9)		3		29
State income taxes (net of federal benefit)	71		6		74
Federal valuation allowance	3		1		3
Other – net	11		11		5
Provision (benefit) for income taxes	$	511	$	79	$	335

Deferred tax liabilities and Deferred tax assets [Table Text Block]

Significant components of Deferred income tax liabilities and Deferred income tax assets are as follows:

	December 31,
	2021		2020
	(Millions)
Deferred income tax liabilities:
Property, plant and equipment	$	2,777	$	2,320
Investments	1,669		1,515
Other	154		140
Total deferred income tax liabilities	4,600		3,975
Deferred income tax assets:
Accrued liabilities	872		747
Foreign tax credit	140		140
Federal loss carryovers	879		905
State losses and credits	421		445
Other	132		140
Total deferred income tax assets	2,444		2,377
Less valuation allowance	297		325
Net deferred income tax assets	2,147		2,052
Overall net deferred income tax liabilities	$	2,453	$	1,923