Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Lease Assets and Liabilities

(millions)	Classification	2023		2022
Right-of-use asset	Deferred charges and other assets	$	21	$	23
Lease liabilities
Current	Other current liabilities	$	2	$	2
Long-term	Deferred credits and other liabilities		20		22
Total lease liabilities		$	22	$	24

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, 2023:

(millions)
Year ended December 31:	2024		2025		2026		2027		2028		Thereafter		Total
Minimum lease payments	$	3	$	2	$	1	$	1	$	1	$	46	$	54
Less imputed interest														(32	)
Total future minimum payments													$	22

Additional Information Related to Leases

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

Year ended December 31,	2023			2022
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)		45			44
Weighted average discount rate - operating leases		4.4	%		4.4	%