Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, Funded Status, and Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The following table presents the changes in benefit obligations and plan assets for pension benefits and other postretirement benefits for the years indicated:

	Pension Benefits				Other Postretirement Benefits
	2021		2020		2021		2020
	(Millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,183	$	1,237	$	220	$	215
Service cost	30		31		1		1
Interest cost	28		36		5		7
Plan participants’ contributions	—		—		2		2
Benefits paid	(83)		(41)		(14)		(14)
Net actuarial loss (gain) (1)	(21)		47		(14)		9
Settlements	(4)		(127)		—		—
Net increase (decrease) in benefit obligation	(50)		(54)		(20)		5
Benefit obligation at end of year	1,133		1,183		200		220
Change in plan assets:
Fair value of plan assets at beginning of year	1,357		1,299		278		247
Actual return on plan assets	62		212		16		37
Employer contributions	4		14		5		6
Plan participants’ contributions	—		—		2		2
Benefits paid	(83)		(41)		(14)		(14)
Settlements	(4)		(127)		—		—
Net increase (decrease) in fair value of plan assets	(21)		58		9		31
Fair value of plan assets at end of year	1,336		1,357		287		278
Funded status — overfunded (underfunded)	$	203	$	174	$	87	$	58
Amounts recognized in the Consolidated Balance Sheet:
Noncurrent assets	$	229	$	203	$	91	$	64
Current liabilities	(3)		(3)		(4)		(6)
Noncurrent liabilities	(23)		(26)		—		—
Funded status — overfunded (underfunded)	$	203	$	174	$	87	$	58
Accumulated benefit obligation	$	1,118	$	1,167

____________

(1)    Amounts are due primarily to the following factors:

2021: pension benefits - discount rate assumptions, partially offset by experience-related items; other postretirement benefits - discount rate assumption and experience-related items.

2020: pension benefits - discount rate assumptions, partially offset by cash balance interest crediting rate assumptions; other postretirement benefits - discount rate assumptions, partially offset by other experience-related items.

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

The following table summarizes information for pension plans with obligations in excess of plan assets at December 31.

	2021		2020
	(Millions)
Projected benefit obligation	$	26	$	29
Accumulated benefit obligation	22		25
Fair value of plan assets	—		—

Pre-tax amounts recognized in Accumulated other comprehensive income (loss)[Table Text Block]

Pre-tax amounts recognized in Accumulated other comprehensive income (loss) at December 31 are as follows:

	Pension Benefits				Other Postretirement Benefits
	2021		2020		2021		2020
	(Millions)
Net actuarial gain (loss)	$	(46)	$	(101)	$	4	$	(25)

Schedule of Net Benefit Cost (Credit) [Table Text Block]

Net periodic benefit cost (credit) for the years ended December 31 consist of the following:

	Pension Benefits						Other Postretirement  Benefits
	2021		2020		2019		2021		2020		2019
	(Millions)
Components of net periodic benefit cost (credit):
Service cost	$	30	$	31	$	45	$	1	$	1	$	1
Interest cost	28		36		50		5		7		8
Expected return on plan assets	(43)		(53)		(61)		(10)		(11)		(10)
Amortization of net actuarial loss	14		21		15		—		—		—
Net actuarial loss from settlements	1		9		1		—		—		—
Reclassification to regulatory liability	—		—		—		2		2		1
Net periodic benefit cost (credit) (1)	$	30	$	44	$	50	$	(2)	$	(1)	$	—

____________

(1)    Components other than Service cost are included in Other income (expense) – net below Operating income (loss) in the Consolidated Statement of Income.

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) [Table Text Block]

Other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss) before taxes for the years ended December 31 consist of the following:

	Pension Benefits						Other Postretirement  Benefits
	2021		2020		2019		2021		2020		2019
	(Millions)
Net actuarial gain (loss) arising during the year	$	40	$	112	$	88	$	29	$	(4)	$	(9)
Amortization of net actuarial loss	14		21		15		—		—		—
Net actuarial loss from settlements	1		9		1		—		—		—
Total recognized in Other comprehensive income (loss)	$	55	$	142	$	104	$	29	$	(4)	$	(9)

Defined Benefit Plan, Assumptions [Table Text Block]

The weighted-average assumptions utilized to determine benefit obligations and Net periodic benefit cost (credit) as of December 31 are as follows:  

	Pension Benefits						Other Postretirement  Benefits
	2021		2020		2019		2021		2020		2019
Benefit obligations:
Discount rate	2.82	%	2.45	%	3.19	%	2.93	%	2.59	%	3.27	%
Rate of compensation increase	3.67		3.76		3.68		N/A		N/A		N/A
Cash balance interest crediting rate	3.00		3.00		3.50		N/A		N/A		N/A
Net periodic benefit cost (credit):
Discount rate	2.45	%	3.08	%	4.33	%	2.59	%	3.27	%	4.39	%
Expected long-term rate of return on plan assets	3.69		4.67		5.26		3.61		4.39		5.01
Rate of compensation increase	3.76		3.68		4.83		N/A		N/A		N/A
Cash balance interest crediting rate	3.00		3.50		4.25		N/A		N/A		N/A

Fair values of plan assets [Table Text Block]

The fair values of our pension and other postretirement benefits plan assets by asset class at December 31 are as follows: 

	2021
	Pension Benefits						Other Postretirement Benefits
	Level 1 (1)		Level 2 (2)		Total		Level 1 (1)		Level 2 (2)		Total
	(Millions)
Cash management funds	$	37	$	—	$	37	$	14	$	—	$	14
Equity securities	42		19		61		39		10		49
Government debt securities	99		28		127		13		4		17
Corporate debt securities	—		350		350		—		47		47
Mutual fund - Municipal bonds	—		—		—		59		—		59
Other	(3)		2		(1)		(1)		—		(1)
	$	175	$	399	574		$	124	$	61	185
Commingled investment funds (3):
Equities					288						39
Fixed income					474						63
Total assets at fair value					$	1,336					$	287

	2020
	Pension Benefits						Other Postretirement Benefits
	Level 1 (1)		Level 2 (2)		Total		Level 1 (1)		Level 2 (2)		Total
	(Millions)
Cash management funds	$	21	$	—	$	21	$	12	$	—	$	12
Equity securities	39		22		61		38		10		48
Government debt securities	110		32		142		14		4		18
Corporate debt securities	—		361		361		—		48		48
Mutual fund - Municipal bonds	—		—		—		52		—		52
Other	—		4		4		—		—		—
	$	170	$	419	589		$	116	$	62	178
Commingled investment funds (3):
Equities					288						38
Fixed income					480						62
Total assets at fair value					$	1,357					$	278

____________

(1)    Level 1 includes assets with fair values based on quoted prices in active markets for identical assets. Cash management funds, equity securities traded on U.S. exchanges, U.S. Treasury securities, and mutual funds are included in this level.

(2)    Level 2 includes assets with fair values determined by using significant other observable inputs. This level includes equity securities traded on active foreign exchanges and fixed income securities, other than U.S. Treasury securities, that are valued primarily using pricing models which incorporate observable inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.

(3)    The commingled investment funds are measured at fair value using net asset value (NAV) per share. Certain standard withdrawal restrictions generally apply, which may include redemption notification period restrictions ranging from 1 day to 15 days.

Expected benefit payments [Table Text Block]

Following are the expected benefit payments, which reflect the same assumptions previously discussed and future service as appropriate.

	Pension Benefits		Other Postretirement Benefits
	(Millions)
2022	$	86	$	14
2023	82		13
2024	81		13
2025	81		12
2026	78		12
2027-2031	378		53