Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following assets:

(millions)	Estimated Useful Lives	December 31, 2023			December 31, 2022
Electric generation	10-60 years	$	6,732		$	6,300
Electric transmission	10-75 years		1,182			1,109
Electric distribution	10-60 years		3,609			3,296
Gas transmission and distribution	15-75 years	0				2,567
General plant and other	4-60 years		997			1,020
Total cost			12,520			14,292
Less Tampa Electric accumulated depreciation			(3,443	)		(3,158	)
Less PGS accumulated depreciation		0				(687	)
Tampa Electric construction work in progress			1,151			949
PGS construction work in progress		0				248
Total property, plant and equipment, net		$	10,228		$	11,644

Summary of Assets and Liabilities of PGS in TEC's Consolidated Balance Sheets

he following table presents the assets and liabilities of PGS in TEC’s Consolidated Balance Sheet as of December 31, 2022:

	December 31,
(millions)	2022
Property, plant and equipment
Utility plant	$	2,938
Accumulated depreciation		(687	)
Total property, plant and equipment, net		2,251
Current assets
Cash and cash equivalents		4
Receivables, less allowance for credit losses of $1 at December 31, 2022		62
Due from affiliates		4
Inventories, at average cost
Materials and supplies		5
Regulatory assets		9
Prepayments and other current assets		4
Total current assets		88
Other assets
Regulatory assets		53
Deferred charges and other assets		79
Total other assets		132
Total assets	$	2,471
Capitalization
Common stock	$	871
Retained earnings		121
Total capital		992
Long-term debt		564
Total capital		1,556
Current liabilities
Notes payable		166
Accounts payable		78
Due to affiliates		27
Customer deposits		30
Regulatory liabilities		11
Accrued interest		4
Accrued taxes		5
Other		4
Total current liabilities		325
Other liabilities
Deferred income taxes		238
Regulatory liabilities		277
Deferred credits and other liabilities		75
Total other liabilities		590

Total liabilities and capital $ 2,471