Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

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)	2025		2024		2023
Current:
Federal	$	553	$	873	$	851
State	133		200		184
Subtotal Current	$	686	$	1,073	$	1,035
Deferred:
Federal	195		26		110
State	(1)		(14)		16
Subtotal Deferred	$	194	$	12	$	126
Total Income Tax Expense	$	880	$	1,085	$	1,161

Schedule of Effective Income Tax Rate Reconciliation

The principal factors contributing to the difference between the effective income tax rate and the U.S. statutory federal income tax rate are as follows:

(Dollars in Millions)	2025
	Amount		Percentage
U.S. Federal Statutory Rate	$	792	21.0	%
State and Local Income Taxes, Net of Federal Tax Effect (a)	102		2.7
Foreign Tax Effects	3		0.1
Tax Credits	(17)		(0.5)
Nontaxable or Nondeductible Items	(24)		(0.6)
Other Adjustments	24		0.6
Effective Income Tax Rate	$	880	23.3	%

(a) The states that contribute to the majority (greater than 50% combined) of the tax effect in this category include Indiana, Virginia, Pennsylvania, Florida, and Alabama, listed in descending order of tax effect.

Income tax expense reconciled to the tax computed at statutory rates for comparative periods, which are not subject to the requirements of ASU 2023-09, is presented in the following table. 

	Years Ended
(Dollars in Millions)	2024				2023
Federal Income Taxes	$	957	21.0	%	$	1,014	21.0	%
State Income Taxes	147		3.2	%	158		3.3	%
Other	(19)		(0.4)	%	(11)		(0.2)	%
Income Tax Expense/ Rate	$	1,085	23.8	%	$	1,161	24.1	%

Schedule of Income Taxes Paid

The amount of cash taxes paid by the Company are shown in the table below. Payments in 2025 include $429 million of previously postponed federal and state taxes related to the 2024 tax year, with no postponements available for 2025. There were no individual jurisdictions with cash taxes paid that equaled or exceeded 5% of income taxes paid in 2025.

(Dollars in Millions)	2025
Federal (a)	$	938
State	161
Foreign	3
Total	$	1,102

(a) Federal cash tax payments include tax credits purchased of $200 million.

Schedule of Significant Components of Deferred Income Tax Assets and Liabilities

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

	2025				2024
(Dollars in Millions)	Assets		Liabilities		Assets		Liabilities
Accelerated Depreciation	$	—	$	7,835	$	—	$	7,651
Other	560		639		568		642
Total	$	560	$	8,474	$	568	$	8,293
Net Deferred Income Tax Liabilities			$	7,914			$	7,725