Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Breakdown of Income Tax Expense Between Current and Deferred

The breakdown of income tax expense between current and deferred is as follows:

	Fiscal Years
(Dollars in Millions)	2020		2019		2018
Current:
Federal	$	559	$	608	$	572
State	123		104		144
Subtotal Current	682		712		716
Deferred:
Federal	149		235		275
State	31		38		4
Subtotal Deferred	180		273		279
Total Income Tax Expense	$	862	$	985	$	995

Schedule of Income Tax Expense Reconciled to Tax Computed at Statutory Rates

Income tax expense reconciled to the tax computed at statutory rates is presented in the following table. 

	Fiscal Years
(Dollars In Millions)	2020				2019				2018
Federal Income Taxes	$	762	21.0	%	$	906	21.0	%	$	904	21.0	%
State Income Taxes	117		3.2	%	108		2.5	%	112		2.6	%
Other	(17)		(0.4)	%	(29)		(0.7)	%	(21)		(0.5)	%
Income Tax Expense/ Rate	$	862	23.8	%	$	985	22.8	%	$	995	23.1	%

Schedule of Significant Components of Deferred Income Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities include:

	2020				2019
(Dollars in Millions)	Assets		Liabilities		Assets		Liabilities
Pension Plans	$	62	$	—	$	71	$	—
Other Employee Benefit Plans	96		—		127		—
Accelerated Depreciation	—		7,195		—		7,020
Other	320		451		426		565
Total	$	478	$	7,646	$	624	$	7,585
Net Deferred Income Tax Liabilities			$	7,168			$	6,961