Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Provision (Benefit) For Income Taxes

		2015		2014		2013
	(in millions)
Current:
Federal	$	1	$	11	$	(12)
State		(3)		10		1
		(2)		21		(11)
Deferred:
Federal		(1,697)		501		408
State		(304)		2		88
Foreign		(2)		1		1
		(2,003)		504		497
Provision (benefit) for income taxes	$	(2,005)	$	525	$	486

Reconciliation Of Provision For Income Taxes

		2015		2014		2013
		(in millions)
Expected provision (benefit) at federal statutory rate	$	(2,296)	$	507	$	417
Increase (decrease) resulting from:
State income taxes, net of federal income tax effect		(194)		58		53
Nondeductible expenses		–		3		3
State rate redetermination		–		(48)		4
Change in valuation allowance		488		5		–
Other		(3)		–		9
Provision (benefit) for income taxes	$	(2,005)	$	525	$	486

Components Of Deferred Tax Balances

		2015		2014
	(in millions)
Deferred tax liabilities:
Differences between book and tax basis of property	$	216	$	2,504
Derivative activity		–		122
Other		9		21
		225		2,647
Deferred tax assets:
Accrued compensation		28		23
Alternative minimum tax credit carryforward		125		131
Accrued pension costs		19		17
Asset retirement obligations		77		79
Net operating loss carryforward		445		323
Other		24		19
		718		592
Valuation allowance		(493)		(5)
Net deferred tax liability	$	–	$	2,060

Reconciliation Of Beginning And Ending Balances Of Unrecognized Tax Benefits

	2015		2014
	(in millions)
Unrecognized tax benefits at beginning of period	$	44	$	–
Additions based on tax positions related to the current year		7		15
Additions to tax positions of prior years		–		29
Reductions to tax positions of prior years		(14)		–
Unrecognized tax benefits at end of period	$	37	$	44