Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes [Abstract]

Provision (Benefit) For Income Taxes

		2016		2015		2014
	(in millions)
Current:
Federal	$	(6)	$	1	$	11
State		(1)		(3)		10
		(7)		(2)		21
Deferred:
Federal		(22)		(1,697)		501
State		–		(304)		2
Foreign		–		(2)		1
		(22)		(2,003)		504
Provision (benefit) for income taxes	$	(29)	$	(2,005)	$	525

Reconciliation Of Provision For Income Taxes

	2016		2015		2014
	(in millions)
Expected provision (benefit) at federal statutory rate	$	(935)	$	(2,296)	$	507
Increase (decrease) resulting from:
State income taxes, net of federal income tax effect		(79)		(194)		58
Nondeductible expenses		–		–		3
State rate redetermination		–		–		(48)
Change in uncertain tax positions		(19)		(7)		–
Change in valuation allowance		1,002		495		5
Other		2		(3)		–
Provision (benefit) for income taxes	$	(29)	$	(2,005)	$	525

Components Of Deferred Tax Balances

	2016		2015
	(in millions)
Deferred tax liabilities:
Differences between book and tax basis of property	$	81	$	216
Other		1		2
		82		218
Deferred tax assets:
Accrued compensation		38		19
Alternative minimum tax credit carryforward		100		125
Accrued pension costs		19		19
Asset retirement obligations		53		77
Net operating loss carryforward		1,177		445
Derivative activity		142		–
Other		29		26
		1,558		711
Valuation allowance		(1,476)		(493)
Net deferred tax liability	$	–	$	–

Reconciliation Of Beginning And Ending Balances Of Unrecognized Tax Benefits

	2016		2015
	(in millions)
Unrecognized tax benefits at beginning of period	$	37	$	44
Additions based on tax positions related to the current year		–		7
Additions to tax positions of prior years		–		–
Reductions to tax positions of prior years		(20)		(14)
Unrecognized tax benefits at end of period	$	17	$	37