Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Lease Assets and Liabilities

(millions)	Classification	December 31, 2022		December 31, 2021
Right-of-use asset	Deferred charges and other assets	$	23	$	24
Lease liabilities
Current	Other current liabilities	$	2	$	2
Long-term	Deferred credits and other liabilities		22		23
Total lease liabilities		$	24	$	25

Future Minimum Lease Payments

Future minimum lease payments under non-cancellable operating leases for each of the next five years and in aggregate thereafter consisted of the following at December 31, 2022:

(millions)
Year ended December 31:	2023		2024		2025		2026		2027		Thereafter		Total
Minimum lease payments	$	3	$	3	$	2	$	1	$	1	$	46	$	56
Less imputed interest														(32	)
Total future minimum payments													$	24

Additional Information Related to Leases

Additional information related to Tampa Electric’s leases is as follows:

Year ended December 31,	2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (millions)	$	4		$	4
Weighted average remaining lease term (years)		44			44
Weighted average discount rate - operating leases		4.4	%		4.4	%

Net Investment in Direct Finance Leases

The net investment in direct finance leases consists of the following:

(millions)	December 31, 2022		December 31, 2021
Total minimum lease payments to be received	$	0	$	29
Less amounts representing estimated executory costs		0		(11	)
Minimum lease payments receivable	$	0	$	18
Less unearned finance lease income		0		(9	)
Net investment in direct finance and sales-type leases	$	0	$	9
Principal due within one year (included in "Receivables")		0		(2	)
Net investment in direct finance and sales-type leases - long-term (included in "Deferred charges and other assets")	$	0	$	7