Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
Current:
Federal	$	827	$	559	$	608
State	176		123		104
Subtotal Current	$	1,003	$	682	$	712
Deferred:
Federal	166		149		235
State	1		31		38
Subtotal Deferred	$	167	$	180	$	273
Total Income Tax Expense	$	1,170	$	862	$	985

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)	2021				2020				2019
Federal Income Taxes	$	1,040	21.0	%	$	762	21.0	%	$	906	21.0	%
State Income Taxes	139		2.8	%	117		3.2	%	108		2.5	%
Other	(9)		(0.2)	%	(17)		(0.4)	%	(29)		(0.7)	%
Income Tax Expense/ Rate	$	1,170	23.6	%	$	862	23.8	%	$	985	22.8	%

Schedule of Significant Components of Deferred Income Tax Assets and Liabilities

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

	2021				2020
(Dollars in Millions)	Assets		Liabilities		Assets		Liabilities
Pension Plans	$	2	$	—	$	62	$	—
Other Employee Benefit Plans	106		—		96		—
Accelerated Depreciation	—		7,366		—		7,195
Other	497		622		320		451
Total	$	605	$	7,988	$	478	$	7,646
Net Deferred Income Tax Liabilities			$	7,383			$	7,168