Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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:

	Years Ended
(Dollars in Millions)	2023		2022		2021
Current:
Federal	$	852	$	928	$	827
State	184		203		176
Subtotal Current	$	1,036	$	1,131	$	1,003
Deferred:
Federal	122		166		166
State	18		(49)		1
Subtotal Deferred	$	140	$	117	$	167
Total Income Tax Expense	$	1,176	$	1,248	$	1,170

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. 

	Years Ended
(Dollars in Millions)	2023				2022				2021
Federal Income Taxes	$	1,027	21.0	%	$	1,137	21.0	%	$	1,040	21.0	%
State Income Taxes	153		3.1	%	121		2.2	%	139		2.8	%
Other	(4)		(0.1)	%	(10)		(0.1)	%	(9)		(0.2)	%
Income Tax Expense/ Rate	$	1,176	24.0	%	$	1,248	23.1	%	$	1,170	23.6	%

Schedule of Significant Components of Deferred Income Tax Assets and Liabilities

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

	2023				2022
(Dollars in Millions)	Assets		Liabilities		Assets		Liabilities
Other Employee Benefit Plans	$	103	$	—	$	105	$	—
Accelerated Depreciation	—		7,678		—		7,600
Other	459		630		553		627
Total	$	562	$	8,308	$	658	$	8,227
Net Deferred Income Tax Liabilities			$	7,746			$	7,569