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Wojtalewicz Vice President and Controller 1001 Louisiana Street, Suite 1000, Houston, TX 77002 true false Southern Natural Gas Company (SNG) was originally incorporated in Delaware on October 30, 1935. SNG was converted to a Delaware general partnership in November 2007. Effective August 1, 2011, we converted our legal structure to a limited liability company and changed our name to Southern Natural Gas Company, L.L.C. Respondent's principal business is the transmission of natural gas in interstate commerce. Respondent's pipeline system extends from gas fields in Louisiana, Mississippi and Alabama, to markets in Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina and Tennessee. Transportation service is rendered by Respondent for its local distribution customers, power generation customers, direct industrial customers, and other end-users, gas producers, other gas pipelines, and gas marketing and trading companies. false FERC Form 2 SNG System Map 2025.pdf 1 1246924 1246924 1898462 1898462 80333235 80333235 1739632 49358 1788990 83971329 1296282 85267611 4231055642 4231055642 4231055642 4231055642 184902614 184902614 4415958256 4415958256 1910779783 1910779783 2505178473 2505178473 1898755191 1898755191 12024592 12024592 1910779783 1910779783 27493546 873615 72172 734252 29029241 27493546 873615 72172 734252 29029241 27493546 873615 72172 734252 29029241 22819843 873615 614841 24308299 4673703 72172 119411 4720942 South System 4 Expansion 9159606 2745349432 Evangeline Pass Expansion 150542459 38712997 SNG Bessemer Calera-Spire Expansion 11676508 4646626 Engine, Turbine Exchanges, Overhauls & Replacements 4002347 2797712 Valve Replacements 3961638 1641886 Pipe Recoat and Pipeline Replacements 1992474 3775322 Smart Piggable Projects 514581 3485616 Controls Projects 1444331 115561 Miscellaneous Construction Projects Under $1,000,000 1608670 883906 2801409058 1 2 3 4 5 6 7 8 9 AGL/Magnolia Lease true 6369564 Transport: Received From Elba Express Company - Hartwell; Delivered to Southern Natural Gas - Effingham, Port Wentworth; Payment company: Elba Express Company, LLC true 25203685 41430002 31573249 41430002 1 2 Replacement Gas Revaluation -738350 Other (individual items under $250,000) 99790 -638560 1 2 FT 65214310 85131 38934065 39019196 71995235 93532 43901159 43994691 78268802 103698 44399892 44503590 FTNN 13669057 16813 9701853 9718666 10677531 12561 11305096 11317657 17651578 22343 11595420 11617763 IT 2802835 3883 297842 301725 2137517 2938 485564 488502 1603390 2222 369084 371306 PAL 2336000 2336000 2576298 2576298 2676710 2676710 81686202 105827 51269760 51375587 84810283 109031 58268117 58377148 97523770 128263 59041106 59169369 1 2 3 4 CSS 2681020 2552846 2552846 4324515 3531532 3531532 9449807 3574875 3574875 ISS 178244 178244 49845 226906 226906 331986 211551 211551 2681020 2731090 2731090 4374360 3758438 3758438 9781793 3786426 3786426 1 2 Zone 0 IT 1196 425 213916 85909 215112 86334 1133891 438310 Zone 0 FT 57977 63403 9973383 10349173 10031360 10412576 88783041 73851457 Zone 0 FTNN 3410 1423 859438 994744 862848 996167 27505869 28420737 Zone 1 IT 19091 4070 1792396 281219 1811487 285289 13782948 2787831 Zone 1 FT 43446 43856 9237451 4051460 9280897 4095316 32763407 30851552 Zone 1 FTNN 5674 17726 1278671 1487665 1284345 1505391 4182310 12081227 Zone 2 IT 1874 1349 326286 240005 328160 241354 1395029 951577 Zone 2 FT 307991 355449 93170598 91206755 93478589 91562204 220765162 241720303 Zone 2 FTNN 74512 70237 30423936 28902681 30498448 28972918 53258774 47619370 Zone 3 IT 1437 1614 367157 351507 368594 353121 1246759 1302403 Zone 3 FT 781142 816364 366750819 376975295 367531961 377791659 558261653 553201924 Zone 3 FTNN 155355 153123 84390489 81888125 84545844 82041248 110956043 103847871 Park & Loan Revenue 29219849 26304628 29219849 26304628 Zone 0 62583 65251 11046737 11429826 11109320 11495077 117422801 102710504 Zone 1 68211 65652 12308518 5820344 12376729 5885996 50728665 45720610 Zone 2 384377 427035 123920820 120349441 124305197 120776476 275418965 290291250 Zone 3 937934 971101 451508465 459214927 452446399 460186028 670464455 658352198 Park & Loan 29219849 26304628 29219849 26304628 1453105 1529039 628004389 623119166 629457494 624648205 1114034886 1097074562 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ISS 2108407 3820087 2108407 3820087 4000759 4869619 CSS 32796535 30817376 32796535 30817376 52756137 43765988 Total 34904942 34637463 34904942 34637463 56756896 48635607 1 2 3 412463 412463 4554501 4554501 1554054 4190148 5744202 2578466 6416097 8994563 4223513 3916667 8140180 2850368 3737514 6587882 3935214 3377051 7312265 4066201 3560909 7627110 1477323 3482838 4960161 2245362 3988778 6234140 3158152 3391476 6549628 4610658 3608056 8218714 1774546 3157258 4931804 32473857 47381293 79855150 3891244 15560249 19451493 1899058 4557589 6456647 1612720 2383494 3996214 1349698 1349698 1830609 2458629 4289238 431402 2640764 3072166 2966000 1837567 4803567 2162613 2634688 4797301 4072336 1953797 6026133 1360245 2327330 3687575 902868 4030562 4933430 9107934 9107934 21129095 50842301 71971396 28639618 58524600 87164218 95604600 62 2 539601 2024-01-16 854, 819 13838752 33165357 812 Gas Used for Other Utility Operations - Credit(Report separately for each principal use. Groupminor uses.) Capitalized Fuel Use 107 23854 54116 Storage Line Expense 817 2975 6161 Storage Compressor Expense 818 108831 270769 Transmission Compressor Expense 853 243541 546355 Mains Expense 856 439110 1003672 14657063 35046430 5 6 7 8 9 10 15444 42775 2678892 2737111 50500 139873 8759976 8950349 98189 98189 321078 321078 15444 42775 2777081 2835300 50500 139873 9081054 9271427 6981 19335 1210931 1237247 22828 63226 3959744 4045798 854 810 51469 51469 168304 168304 819 810 6981 19335 1262400 1288716 22828 63226 4128048 4214102 306 848 53132 54286 1002 2774 173743 177519 853, 856 812 14505 14505 47431 47431 817, 818 812 306 848 67637 68791 1002 2774 221174 224950 1336 8100 145997 155433 4367 26488 477410 508265 1336 8100 145997 155433 4367 26488 477410 508265 6821 14492 1268832 1290145 22303 47385 4149079 4218767 32215 32215 105343 105343 6821 14492 1301047 1322360 22303 47385 4254422 4324110 6821 14492 1301047 1322360 22303 47385 4254422 4324110 117.4 182.3, 254 Other dispositions 6821 14492 1301047 1322360 22303 47385 4254422 4324110 Gas due from shippers 44 49 2996 55607 2303545 2362148 7341 136237 5643685 5787263 54530 54530 133599 133599 2996 55607 2358075 2416678 7341 136237 5777284 5920862 1103 20474 848140 869717 2703 50161 2077943 2130807 854 810 67420 67420 165179 165179 819 810 1103 20474 915560 937137 2703 50161 2243122 2295986 72 1332 55185 56589 176 3264 135203 138643 853, 856 812 5699 5699 13963 13963 817, 818 812 72 1332 60884 62288 176 3264 149166 152606 -420 -19417 -233852 -253689 -1028 -47572 -572937 -621537 -420 -19417 -233852 -253689 -1028 -47572 -572937 -621537 2241 53218 1634072 1689531 5490 130384 4003476 4139350 -18589 -18589 -45543 -45543 2241 53218 1615483 1670942 5490 130384 3957933 4093807 2241 53218 1615483 1670942 5490 130384 3957933 4093807 117.4 182.3, 254 Other dispositions 2241 53218 1615483 1670942 5490 130384 3957933 4093807 Gas due from shippers 44916 54649 2337531 2437096 101960 124053 5306197 5532210 see footnote 36798 36798 83531 83531 44916 54649 2374329 2473894 101960 124053 5389728 5615741 18079 21997 940885 980961 41040 49933 2135809 2226782 854 810 -131317 -131317 -298090 -298090 810 819 18079 21997 809568 849644 41040 49933 1837719 1928692 1090 1326 56725 59141 2474 3010 128763 134247 853, 856 812 3221 3221 7312 7312 817, 818 812 1090 1326 59946 62362 2474 3010 136075 141559 1608 8479 105655 115742 3650 19248 239837 262735 1608 8479 105655 115742 3650 19248 239837 262735 24139 22847 1234266 1281252 54796 51862 2801788 2908446 164894 164894 374309 374309 24139 22847 1399160 1446146 54796 51862 3176097 3282755 24139 22847 1399160 1446146 54796 51862 3176097 3282755 117.4 182.3, 254 Other dispositions 24139 22847 1399160 1446146 54796 51862 3176097 3282755 Gas due from shippers 247104535 16861456 263965991 Alabama AL Fully Owned and Operated by Respondent 1993.3 Florida FL Fully Owned and Operated by Respondent 213.1 Georgia GA Fully Owned and Operated by Respondent 2208.9 Louisiana LA Fully Owned and Operated by Respondent 947.4 Mississippi MS Fully Owned and Operated by Respondent 1228.4 South Carolina SC Fully Owned and Operated by Respondent 55.0 Tennessee TN Fully Owned and Operated by Respondent 13.9 Georgia GA Jointly Owned and Operated by Respondent true 148.8 6660.0 148.8 6808.8 1 2 3 4 5 6 7 8 9 10 11 12 13 2025-01-21 344265 344265 486197 3495505 3981702 55917 55917 486197 3895687 4381884 333629 333629 424004 424004 284927 284927 1042560 1042560 Operational Balancing Agreement 725652 -2357 723295 725652 -2357 723295 2025-01-21 939668 939668 1472925 10411455 11884380 8726 186106 194832 1481651 11537229 13018880 855022 855022 1239312 1239312 550794 550794 2645128 2645128 Operational Balancing Agreement 1631523 5120 1636643 1631523 5120 1636643 46724 12979 Shared Service Allocations 1930306 1990009 6 Account 489.2 Revenues from transportation of others through transmission facilities 44203844 14584300 99236437 89064617 44203844 14584300 99236437 89064617 1 11266080 0.0735 153280000 2031-02-15 2001-02-13 Note - 7.35% Issue Due February 2031 20617600 0.0800 257720000 2032-03-01 2002-02-21 Note - 8.00% Issue Due March 2032 24000000 0.0480 500000000 2047-03-15 2017-03-14 Senior Note - 4.80% Issue Due March 2047 55883680 911000000 55883680 911000000 2 3 4 7 10 13 2469539 2872911 -9751070 146720000 2008-06-23 2031-02-15 Note - 7.35% Issue Due February 2031 1799356 2050429 -6133152 42280000 2008-06-23 2032-02-29 Note - 8.00% Issue Due March 2032 2 3 5 6 1468896 -4360898 Health and life insurance 5024251 Long-term disability insurance 113692 401K Employer contributions 1880021 Other 100398 4226360 6 7 8 9 Zone 3 Expansion CP14-493 Incremental 92921553 18240643 9622905 25671822 339426 2186323 532000 44702669 92921553 18240643 9622905 25671822 339426 2186323 532000 44702669 1 Southern Natural Issuing Corporation Capital Contribution 1000 1000 Subtotal 2007-10-23 1000 1000 Bear Creek Storage Company, L.L.C. Capital Contribution 53210651 53210651 Unappropriated Undistributed Subsidiary Earnings 25787050 7236343 3450000 29573393 Subtotal 2009-12-18 78997701 7236343 3450000 82784044 53211651 78998701 7236343 3450000 82785044 1 2 13 14 15 19 26 Southern Natural Gas Company, LLC 17349839 3554753 1114034886 264020255 56756896 16837173 6564228 1529676 41430002 10505194 21129095 2263113 35411128 7725872 Decreases in line inventory 17597 -81916 Park and Loan 5635278 5635278 1298328949 311989398 32314267 6564568 1114034886 264020255 56756896 16837173 5691990 1709939 41430002 10505194 32473857 9543356 13721129 3075497 Gas used for utility operations 796751 193441 Park and Loan -1019038 Condensate loss 31186 Physical to transactional differences 370021 335510 Construction fuel 23915 18751 Out of period adjustments -15557 Fuel refund from Bear Creek 187266 187266 1297816609 311971912 512340 17486 1298328949 311989398 16 17 32 33 34 35 36 37 38 38566 38566 22241 22241 53787 53787 412464 412464 6977647 6977647 9535484 9535484 38566 38566 -6542942 -6542942 -9481697 -9481697 84367222 105827 54039416 54145243 89184643 109031 55483613 55592644 107305563 128263 53345835 53474098 Other (less than $250,000) 15768 15768 Environmental reserve 323915 323915 5-year revolving credit facility (variable interest rate) 236574 Commitment fees 59054 Credit Facility Fees 38515 Other -3080 331063 1 3 5 7 9 10 12 13 15 17 18 19 20 21 2042259 2042259 14880305 1016863 1375818 14521350 16922564 1016863 1375818 16563609 461052 461052 564293 564293 4291988 4291988 41525384 1770114 567026 42728472 451921 451921 514881 514881 1762541 1762541 33725147 7829440 41554587 31484945 1612432 123403 -328697 32645277 3706368 3706368 11667572 717319 71196 328697 12642392 560603 560603 130716695 11929305 761625 141884375 130716695 11929305 761625 141884375 49199415 563 49198852 91843916 91843916 114761025 382974 35232 115108767 2572138933 28586346 2102725 2598622554 1004872176 11503242 4928834 -23570 1011423014 161702770 3316406 761395 23570 164281351 17379660 42292 27432 17394520 9730155 9730155 4021628050 43831260 7856181 4057603129 309737 90630 17342 383025 879958 61253 172552 768659 4668317 1163399 1117801 4713915 60306 60306 7372961 335944 707664 7001241 268607 10488 279095 287534 56093 49593 294034 594819 57329 652148 923702 71596 852106 15365941 1775136 2136548 15004529 15365941 1775136 2136548 15004529 4184633250 58552564 12130172 4231055642 4184633250 58552564 12130172 4231055642 Federal Income Tax Federal Tax Federal 33152460 -33152460 32010960 1141500 Subtotal Federal Tax 33152460 -33152460 32010960 1141500 State Income Tax - Alabama State Tax Alabama 3768545 -3768545 3671347 97198 0.0226 State Income Tax - Florida State Tax Florida 138860 -138860 135279 3581 0.0008 State Income Tax - Georgia State Tax Georgia 1831993 -1831993 1784742 47251 0.0110 State Income Tax - Louisiana State Tax Louisiana 879450 -879450 856767 22683 0.0053 State Income Tax - Mississippi State Tax Mississippi 1946377 -1946377 1896176 50201 0.0117 State Income Tax - South Carolina State Tax South Carolina 19314 -19314 18816 498 0.0001 State Income Tax - Tennessee State Tax Tennessee 10989 -10989 10706 283 0.0001 Subtotal State Tax 8595528 -8595528 8373833 221695 Ad Valorem Tax - Alabama Ad Valorem Tax Alabama 2023 448000 -8890 439110 -8890 Ad Valorem Tax - Alabama Ad Valorem Tax Alabama 2024 7359767 7338767 21000 7359767 Ad Valorem Tax - Florida Ad Valorem Tax Florida 2024 804579 804579 804579 Ad Valorem Tax - Georgia Ad Valorem Tax Georgia 2023 5976357 -848774 5127583 -848774 Ad Valorem Tax - Georgia Ad Valorem Tax Georgia 2024 6662377 1409334 5253043 6662377 Ad Valorem Tax - Louisiana Ad Valorem Tax Louisiana 2023 364000 -138748 225252 -138748 Ad Valorem Tax - Louisiana Ad Valorem Tax Louisiana 2024 7704916 7404916 300000 7704916 Ad Valorem Tax - Mississippi Ad Valorem Tax Mississippi 2023 16833586 131186 16964772 131186 Ad Valorem Tax - Mississippi Ad Valorem Tax Mississippi 2024 16526222 16526222 16526222 Ad Valorem Tax - South Carolina Ad Valorem Tax South Carolina 2023 79126 79126 Ad Valorem Tax - South Carolina Ad Valorem Tax South Carolina 2024 240337 240337 240337 Ad Valorem Tax - Tennessee Ad Valorem Tax Tennessee 2023 44000 -12245 31755 -12245 Ad Valorem Tax - Tennessee Ad Valorem Tax Tennessee 2024 38000 38000 38000 Subtotal Ad Valorem Tax 23745069 38458727 39825194 22378602 38458727 Use Tax - Alabama Sales And Use Tax Alabama 2024 203884 203884 203884 Use Tax - Florida Sales And Use Tax Florida 2024 1085 1085 Use Tax - Georgia Sales And Use Tax Georgia 2024 88298 88298 25 88273 Use Tax - Louisiana Sales And Use Tax Louisiana 2024 10310 190913 199734 1489 88792 102121 Use Tax - Mississippi Sales And Use Tax Mississippi 2024 -6953 1024193 1024193 -6953 152995 871198 Use Tax - Texas Sales And Use Tax Texas 2024 3562 3562 3562 Subtotal Sales And Use Tax 4442 1510850 1519671 -4379 241812 1269038 Payroll - FICA Tax Payroll Tax Federal 2024 3343990 3343990 3343990 Payroll - Unemployment Tax Payroll Tax Federal 2024 99785 99785 99785 Subtotal Payroll Tax 3443775 3443775 3443775 Franchise and Occupation Tax Franchise Tax Alabama 2024 -26 15678 15652 15678 Franchise and Occupation Tax Franchise Tax Tennessee 2024 15657 -1243 16900 15657 Subtotal Franchise Tax -26 31335 14409 16900 31335 23749485 85192675 44803049 -41747988 22391123 82560442 1363195 1269038 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 Vicki A. Phillips Vice President /s/ Vicki A. Phillips 2025-04-10 2 Southern Natural Gas Company, L.L.C. C000021 2024 Q4 1001 Louisiana Street, Suite 1000, Houston, TX 77002 James M. Brossett Divisional Controller 2 North Nevada Avenue, Colorado Springs, CO 80903 719-520-4721 O 2024-12-31 IRIS Carbon <div><p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">1. Construction Overhead</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(a) Overhead charges are intended to cover those indirect costs pertaining to construction activities for departments such as engineering, operations and accounting for their labor and related employee benefits and office space. The overhead amount capitalized is charged to all construction projects by applying a construction overhead clearing rate to direct project costs.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(b) The overhead capitalized is primarily based on periodic studies to identify indirect capital costs that are not charged directly to construction projects.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(c) Costs are accumulated in a blanket overhead project and distributed monthly to individual construction projects.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(d) Different overhead rates are applied based on the nature of the construction project.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(e) The basis for the differentiation in overhead rates stems from the economies of scale that are achieved with these projects.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">(f) Overheads are directly assigned to each project.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">2. Allowance for Funds Used During Construction:</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">Allowance for funds used during construction is calculated below.</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">3. Net-of-Tax rate for borrowed funds</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">Not Applicable</font><u></u></p> <p>&#160;</p></div> 920709973 Southern Natural Gas Company, L.L.C. 0.3556 0.0622 1668350142 Southern Natural Gas Company, L.L.C. 0.6444 0.1200 2589060115 1.0000 79999417 0.0221 0.0773 0.0221 0.0773 Zone 0 4429558 1859206 4155175 1744040 Zone 1 6456432 2709940 5447611 2286511 Zone 2 37562 15766 82511 34632 Zone 3 4715720 1979316 3875868 1626807 15639272 6564228 13561165 5691990 1 2 3 4 441336 72435 513771 2031-02-15 2001-02-13 3902790 300000000 Note - 7.35% Issue Due February 2031 861591 120222 981813 2032-03-01 2002-02-21 3918005 300000000 Note - 8.00% Issue Due March 2032 3323549 81002 3404551 2047-03-15 2017-03-14 3861363 400000000 Senior Note - 4.80% Issue Due March 2047 1159062 28241 1187303 2047-03-15 2019-11-12 1293145 100000000 Senior Note - 4.80% Issue Due March 2047 137861 114963 75000 177824 2026-05-28 2021-05-28 464300 Credit Facility due May 2026 10655491 289511 10945002 2047-03-15 2019-11-12 -12025000 100000000 Senior Note - 4.80% Issue Due March 2047 30330 4956 35286 2031-02-15 2001-02-13 290991 300000000 Note - 7.35% Issue Due February 2031 174849 24397 199246 2032-03-01 2002-02-21 850000 300000000 Note - 8.00% Issue Due March 2032 976556 23941 1000497 2047-03-15 2017-03-14 1136000 400000000 Senior Note - 4.80% Issue Due March 2047 2 3 4 5 6 8 10 11 12 Kinder Morgan, Inc. I DE 0.50 Kinder Morgan SNG Operator LLC J DE 0.50 The Southern Company I DE 0.50 Evergreen Enterprise Holdings LLC J DE 0.50 1 2 3 4 <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">1. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">2. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">3. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">4. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">5. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">6. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">7. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">8. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">9. See Page 122.1, Notes to Financial Statements, Note 9 "<font style="font-size: 16pt; line-height: 107%;">Litigation, Environmental and Commitments</font>."</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">10. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">11. None</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">12. Changes made during the year ended December 31, 2024:</font></p> <p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Appointments:</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Patricia Francis &#8211; Vice President and Assistant Secretary</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Ernesto Ochoa &#8211; Vice President and Chief Commercial Officer</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Michael J. Pitta &#8211; Vice President</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Mark Wilson &#8211; Vice President</font></p> <p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Resignations:</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Denise Mathews &#8211; Vice President</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Kimberly S. Watson &#8211; President</font></p> <p style="margin-left: .5in;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Debbie Cone &#8211; Vice President</font></p></div> <div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">13. N/A</font></p></div> 21548323 1257174 81233 22886730 21548323 1257174 81233 22886730 21548323 1257174 81233 22886730 17885271 1211436 68022 19164729 3663052 45738 13211 3722001 303429053 27321672 1581159 332331884 303429053 27321672 1581159 332331884 303429053 27321672 1581159 332331884 251846879 25113305 1324016 278284200 51582174 2208367 257143 54047684 Deferred Income Tax Rate Adjustment (amortized through April 2046) 56943718 411.1 2558118 54385600 Post Retirement Benefits 12770995 1985543 14756538 Cashout Tracker 9602065 174 9602065 Fuel Tracker 174 3265250 7526284 4261034 79316778 15425433 9511827 73403172 1 2 3 4 34904942 34637463 34904942 34637463 56756896 48635607 416508 437349 416508 437349 351404 273211 351404 273211 412463 126501 412463 126501 1453105 1529039 664089706 658593690 665542811 660122729 16513131 16513131 1453105 1529039 647576575 658593690 649029680 660122729 Advances for Operating Agreements 151070 Various 560460 551756 142366 Environmental Reserve 162382 232 256237 370915 277060 Park and Loan Deferred Revenue 3528753 489.2 10687019 11613450 4455184 3842205 11503716 12536121 4874610 1 2 3 Storage Imbalance Due to Others 2948015 Environmental Remediation Reserve 63000 Legal Reserve 800000 Other 4028 3815043 1 2 3 4 Advance of Deferred Income Taxes to Members 309374276 29100119 338474395 Revenue Levelization 15 years beginning Jan 2020 11824184 142 1077066 10747118 1167493 448416 322365953 29100119 1077066 349669929 1 2 4231055642 4184633250 43822166 4228455416 1846092954 2382362462 2505178473 2382362462 109965196 109965196 6166906 6166906 1972317 -12604547 143968 143968 59117565 52771124 142046577 131913793 87526 8079934 17271793 40262591 39900951 10069 21369787 18487535 24300670 21266492 1837397 2181288 105119695 89916200 5923399 6265262 40708959 38350740 243647 4268895 4923340 423457912 393697265 3293907076 3101417275 1773642136 1642563092 29573393 25787050 1803215529 1668350142 911000000 10655491 10945002 1181735 1235029 920473756 920709973 16513131 16513131 53616116 33411085 14848240 14538545 800658 657658 18128608 18128608 4719019 113599788 95204400 465965 3071178 440104872 417152760 3293907076 3101417275 649029680 660122729 177152767 172236544 177152767 172236544 53387562 65669226 53387562 65669226 83971329 82973366 83971329 82973366 1296282 1379512 1296282 1379512 1010693 700904 1010693 700904 41426008 42522414 41426008 42522414 42175649 44229938 42175649 44229938 32010960 25812299 32010960 25812299 8373833 7133539 8373833 7133539 28195287 39033001 28195287 39033001 3887464 3271793 3887464 3271793 382260890 393374122 382260890 393374122 266768790 266748607 266768790 266748607 43 461 7493394 807590 125001 6304838 1367304 322728 864408 14671542 9850568 5252 15357 348000 339683 368609 1141500 812420 221695 166394 2315411 1512619 81233 88048 3597373 2403385 10734486 7078574 55883680 55883680 470157 468366 654445 654445 289511 277983 263206 1775335 384424 55274499 56607290 222228777 217219891 222228777 217219891 217219891 222228777 0 0 214992434 209726497 3450000 1650000 0 0 0 19943656 3450000 1650000 Distributions of Earnings to Members 211 -218442434 -211376497 1 83971329 82973366 2131373 2224340 26542001 37185779 2889932 -6619407 3034178 1760633 39046033 19786983 2358219 489748 -5341031 1792733 6304838 1367304 3786343 5843394 -441996 19401384 349762976 377742804 178090148 88371373 6304838 1367304 10411784 6824478 182197094 93828547 -182197094 -93828547 163713503 22068945 163713503 22068945 322000000 305000000 -158286497 -282931055 9279385 983202 8079934 7096732 17359319 Amortization of intangible plant 1296282 1379512 Amortization of debt costs 470157 468366 Amortization of premium on debt -289511 -277983 Amortization of loss on reacquired debt 654445 654445 1 2 3 4 Change in gas owed to system -14576864 20762068 Change in postretirement benefit plan assets -4360898 -3459142 Change in prepayments 2742 Change in miscellaneous deferred debits 1062917 1074123 Change in customer advances for construction -112687 -44223 Change in provision for rate refund 16513131 Change in other deferred credits 1032405 1065816 1 2 3 4 5 6 7 Change in preliminary survey and investigation charges -243647 243647 Net salvage/(cost of removal) 8187721 8245772 Change in customer advances for construction 2467710 -1664941 1 2 3 Capital contributions from Members 163788503 22127394 Debt issuance costs -75000 -58449 1 2 Distributions to Members 322000000 305000000 1 1642563092 131079044 1773642136 Contributions from Member 163788503 Transfer from Account 216 218442434 Transfer from Account 236 41747988 Transfer from Account 186 29100119 Distributions to Member -322000000 1 2 3 4 5 5165821 -14910557 12220207 -11709980 17386028 -26620537 2078107 -353661 72940926 93097842 91706479 64359237 36459068 1881073 2605982 39065050 -404938 -34986408 -37705581 -34986408 -37705581 1003 1628 162597 236139 7244 9020 2341882 2130046 1634129 1867603 68089 19619599 16052189 1098 1314 23767552 20366028 320533 490736 105493 685773 678622 974 1594 1228 1007900 1277053 24775452 21643081 24775452 21643081 7209055 7118554 62767 18425 38241 22860866 20978138 31531228 34591465 38620327 41367067 10423941 11133070 3546711 2913387 31453514 9312385 8766136 102054 71862 155261008 158431434 922901 824178 204830 186067 34256825 48207406 15129350 13462516 1779994 1600380 126 17701 85636 93925 52379662 64392173 207640670 222823607 10069 10069 2081791 2113032 2081791 2113032 13840388 13652386 356438 362696 4647042 2776873 922879 965110 1441290 1538457 4852704 2344038 1508878 2008628 1250311 1365899 31018755 29031631 31018755 29031631 230540329 237905770 Magnolia Enterprise Holdings, Inc. false 83,722 Dth per day leased capacity in approximately 149 miles of transmission pipeline located in Georgia 6369564 6369564 1 1833971484 1833971484 83971329 83971329 83971329 83971329 10737012 10737012 8562337 8562337 96740 96740 19202609 19202609 Accumulated depreciation transfer to affiliate -14987 -14987 1898755191 1898755191 61224511 61224511 1829993947 1829993947 7536733 7536733 13 13 717924 17271793 17271793 717924 17271793 717924 17271793 17271793 Account 136 - Temporary Cash Investment 3 3B Inspection LLC 739850 API Control Systems Inc 262100 Audubon Engineering Company LP 811277 Bannister Electric Of West Monroe, LLC 919495 Bass Engineering Company 526007 Baywater Pipeline Services LLC 5879058 Bracewell LLP 1214531 Broussard Brothers 279115 Brown Williams Moorhead & Quinn, Inc 313667 BWS Services LLC 777502 Castle Energy Group LLC 5068741 Chet Morrison Contractors LLC 1474601 Clarkco Oilfield Services Inc 525377 Clean Recompression LLC 494654 Compressor Engineering Corp 530790 Contract Land Staff LLC 283207 Cooper Machinery Services LLC 1471412 Credo Services LLC 441322 Dnow LP 305293 E Mississippi Elec Power Assoc 250000 Eastern Energy Services Inc 314581 Exline Inc 1247685 Farnsworth Group Inc 640346 Georgia Western LLC 258305 Gonzalez-Strength & Associates 1491826 Gulf Coast TMC LLC 309520 International Inspecting Inc 497028 J Parker Services LLC 476859 Johnnys Lawn Service 275944 Kean Miller LLP 832726 Kestrel Field Services Inc 1377802 KT Mac Enterprises LLC 260660 L E Bell Const Co Inc 2182812 Liberty Energy Services 646649 Loutex Contractors Inc 621587 MDM Energy Services LLC 400419 MG Dyess LLC 8089488 Onshore Quality Control 1861051 PECI 868200 Pinnacle Resources Group LLC 1826256 Pipeline Safety LLC 1112146 Quality Integrated Services 299140 Ranger Plant Constructional 26447182 Ransaball LLC 339582 Solar Turbines Incorporated 1149692 Southeastern Pipeline & Environmental Services 13613875 Steele Cathodic Inc 1422006 Sunland Construction Inc 3712829 TRC Solutions Inc 337817 Universal Plant Services LLC 2145822 UPS Midstream Services LLC 794975 Waldemar S Nelson And Co Inc 1103755 Warrior Met Coal Mining LLC 1000000 Weaver LLC 3468484 Weldfit LLC 344795 WHC LLC 1582173 Wyco Inc 552283 Other (less Than $250,000) 12235843 118710142 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 Muldon, MS Underground Storage Compressor Stations 3 21750 35943354 677094 3384098 297163 PT5115H 3 2024-06-23 Subtotal Underground StorageCompressor Stations 3 21750 35943354 677094 3384098 297163 PT5115H 3 Reform, AL Transmission Compressor Stations 13 21950 21612728 595707 1146447 229422 PT17859H 11 2024-01-20 Tarrant, AL Transmission Compressor Stations 8 12050 22614424 728747 1341734 303615 PT24645H 8 2024-01-21 Dearmanville, AL Transmission Compressor Stations 8 11250 18771880 455655 1361767 186397 PT17450H 8 2024-01-16 Bell Mills, AL Transmission Compressor Stations 4 4815 11564818 286232 567442 116460 PT13333H 4 2024-01-16 Pell City, AL Transmission Compressor Stations 2 10390 16844253 14277 181224 390870 6143 1387896 PT532H 1 2024-08-09 York, AL Transmission Compressor Stations 3 33320 27153805 887035 6030006 662510 346442 75467448 PT9738H 3 2024-01-09 Gallion, AL Transmission Compressor Stations 6 28670 40222999 279689 6964086 1535022 112043 90191575 PT11867H 4 2024-01-20 Selma, AL Transmission Compressor Stations 3 33320 30211073 780313 5923718 781575 307231 73491774 PT9157H 3 2024-01-20 Elmore, AL Transmission Compressor Stations 5 26200 38672963 215332 6525055 980483 84306 85518489 PT12133H 5 2024-01-08 Auburn, AL Transmission Compressor Stations 3 33320 26891230 1166933 5807766 771281 472057 73087581 PT11421H 3 2024-01-09 Providence, AL Transmission Compressor Stations 2 10380 13719660 181232 244665 65823 PT1426H 2 2024-01-20 McConnells, AL Transmission Compressor Stations 6 8472 14407496 65852 174421 23073 PT1302H 4 2024-01-16 Duncanville, AL Transmission Compressor Stations 2 2600 3622394 1676 181337 964 Holy Trinity, AL Transmission Compressor Stations 2 2400 4598854 243294 513001 103364 PT15745H 2 2024-02-07 Hilliard, FL Transmission Compressor Stations 1 4700 24206711 407307 250106 167173 PT3899H 1 2024-05-13 Brookman, GA Transmission Compressor Stations 1 10000 21759950 1188060 437675 13779448 PT3668H 1 2024-07-08 Ellerslie, GA Transmission Compressor Stations 8 22200 44255706 467892 3001172 1228335 193912 47347559 PT26724H 8 2024-01-04 Thomaston, GA Transmission Compressor Stations 5 21460 63661360 897981 1720690 380391 PT12664H 5 2024-01-09 Ocmulgee, GA Transmission Compressor Stations 6 9000 15267561 1065298 1322002 453158 PT36705H 6 2024-10-31 Hall Gate, GA Transmission Compressor Stations 3 11530 18065422 568377 825011 246134 PT9316H 3 2024-08-27 Rome, GA Transmission Compressor Stations 1 3755 9165651 56785 237534 20437 PT469H 1 2024-12-12 Riceboro, GA Transmission Compressor Stations 2 12400 15830476 103501 284235 52015 PT2477H 2 2024-09-28 Wrens, GA Transmission Compressor Stations 5 9170 27713328 430720 1685943 1288887 186614 20310550 PT26048H 5 2024-08-08 Pavo, GA Transmission Compressor Stations 1 4390 5243530 51423 117052 23823 PT894H 1 2024-11-19 Albany, GA Transmission Compressor Stations 3 3912 6930477 388463 405748 165510 PT11426H 3 2024-06-18 Fairburn, GA Transmission Compressor Stations 2 18000 52818742 2516829 669804 34091194 PT6640H 2 2024-08-11 Logansport, LA Transmission Compressor Stations 3 3300 5829737 322108 Shadyside, LA Transmission Compressor Stations 5 9000 14695633 760216 1041515 316302 PT23507H 4 2024-06-22 White Castle, LA Transmission Compressor Stations 7 12600 37623204 1543473 1815867 650684 PT46162H 7 2024-08-03 Toca, LA Transmission Compressor Stations 9 22500 63363351 788412 2494725 325327 PT13204H 4 2024-05-13 Franklinton, LA Transmission Compressor Stations 10 16750 40951725 1179330 1546954 491137 PT43287H 7 2024-01-09 Bienville, LA Transmission Compressor Stations 4 4800 13175323 250033 1174960 105197 PT8956H 2 2024-06-29 Onward, MS Transmission Compressor Stations 2 5200 8058329 327258 895989 129735 PT8039H 2 2024-01-14 Pickens, MS Transmission Compressor Stations 2 5200 14155615 316312 678057 131082 PT7750H 2 2024-09-18 Louisville, MS Transmission Compressor Stations 16 16900 16827621 856271 2009855 358820 PT39318H 11 2024-12-11 Gwinville, MS Transmission Compressor Stations 9 23160 47884635 2515368 2546484 1054387 PT42437H 7 2024-01-07 Enterprise, MS Transmission Compressor Stations 9 38070 116375014 3703401 3076985 1559700 PT48319H 9 2024-05-22 Rankin, MS Transmission Compressor Stations 3 4050 8354075 290220 719746 120395 PT10898H 3 2024-09-21 Pearl River, MS Transmission Compressor Stations 2 13000 8845054 937413 230608 389874 PT3866H 1 2024-01-21 Bay Springs, MS Transmission Compressor Stations 3 28631 43851429 3036486 402516 1244127 PT13672H 3 2024-01-09 Subtotal TransmissionCompressor Stations 189 572815 1035818236 26843914 39823859 38396003 11123274 514673514 PT596948H 158 1071761590 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Monroe County, MS - Muldon Field Underground Storage 772500 141884375 true Bienville Parish, LA - Bear Creek Field Underground Storage 463500 true 1 2 103527555 91706479 91706479 72940926 72940926 -4188689 -4188689 118104419 45400107 2588418 827834 48816359 2.4221 2.3825 2.3825 2.4194 Income Tax Gross-Up on AFUDC Equity Remaining life of assets Docket No. AI93-5-000 issued on April 23, 1993 (Accounting for Income Taxes) 10196768 2805680 407.3 694336 12308112 FERC Annual Charge Adjustment 12 months ending September 30 18CFR 154.402(a) and 18CFR 382.202 1166429 1445731 928 1527862 1084298 E-dth Loss Amortization 5 years ending October 2029 Docket No. RP24-982 9490717 407.3 316357 9174360 Fuel Tracker Remaining balance at end of current filing period will be recovered through adjustments to future period fuel retention rates Section 35 of the General Terms and Conditions of our tariff 26987543 17686447 174 35838738 8835252 Cashout Tracker Docket No. RP89-224 16798179 174 13615562 3182617 Electric Power Charge Tracker Remaining balance at end of current filing period will be recovered through adjustments to future period EPC rates Docket No. RP24-982 6124320 6124320 54351074 51992855 1 2 3 4 5 6 Southern Natural Issuing Corporation D Financing 1.00 Bear Creek Storage Company, L.L.C. J Gas Storage 0.50 We have a 50 percent ownership interest in Bear Creek Storage Company, L.L.C., a joint venture with our affiliate Tennessee Gas Pipeline Company, L.L.C. 1 2 Federal Energy Regulatory Commission Docket No. RM87-3 - 2024 Annual Charge Adjustment (12-Month Amortization) 1445731 1445731 1445731 182.3 361433 1084298 Federal Energy Regulatory Commission Docket No. RM87-3 - 2023 Annual Charge Adjustment (12-Month Amortization) 1555239 1555239 1166429 182.3 1166429 0 Other - Rate Case 816176 816176 816176 3000970 816176 3817146 1166429 816176 1445731 1527862 1084298 1 2 3 NA NA NA NA NA NA NA NA NA NA NA Not Prepared 141423 0.0143 4044323 0.02 14972 0.00 Intangible Plant (footnote details) 14521 0.00 Other Gas Storage (footnote details) 9 10 <div><!--?xml version="1.0" encoding="utf-8" standalone="no"?--> <p><font style="font-family: Arial; font-weight: bold; font-size: 16pt;">1. General</font></p> <div> <div class="Section1"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">We are a Delaware limited liability company, originally formed in 1935 as a corporation. When we refer to "us," "we," "our," "the Company," or "SNG" we are describing Southern Natural Gas Company, L.L.C.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The Members' interests in us are as follows:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-left: 45.6pt; margin-bottom: 6pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">50.0% - Kinder Morgan SNG Operator, LLC (KMSO), an indirect subsidiary of Kinder Morgan, Inc. (KMI); and</font></li> </ul> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-left: 45.6pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">50.0% - Evergreen Enterprise Holdings, LLC, an indirect subsidiary of The Southern Company.</font></li> </ul> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our primary business consists of the interstate transportation and storage of natural gas. Our natural gas pipeline system consists of approximately 6,805 miles of pipeline with a design capacity of approximately 4.4 billion cubic feet (Bcf) per day for natural gas. This pipeline system extends from supply basins in Louisiana, Mississippi and Alabama to market areas in Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina and Tennessee, including the metropolitan areas of Atlanta and Birmingham. We also own and operate 100% of the Muldon storage facility in Monroe County, Mississippi and own a 50% interest in Bear Creek Storage Company, L.L.C. (Bear Creek) in Bienville Parish, Louisiana. Bear Creek is a joint venture equally owned by us and Tennessee Gas Pipeline Company, L.L.C. (TGP), an affiliate. Our interest in Bear Creek and the Muldon storage facility provide a combined working natural gas storage capacity of approximately 66 Bcf and peak withdrawal capacity of approximately 1.2 Bcf per day.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2. Summary of Significant Accounting Policies</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Basis of Presentation</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We have prepared our accompanying financial statements in accordance with the accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (GAAP).</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The most significant differences between GAAP and the financial statements presented herein are: (i) the deferral of certain costs and revenues, (ii) the classification of certain accounts on the balance sheet and statement of income, (iii) subsidiaries are reflected on the equity method whereas GAAP requires that all controlled subsidiaries be consolidated, and (iv) the inclusion and classification of income taxes in a limited liability company's financial statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Management has evaluated subsequent events through April 10, 2025, the date the financial statements were available to be issued.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Use of Estimates</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Certain amounts included in or affecting our financial statements and related disclosures must be estimated, requiring us to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time our financial statements are prepared. These estimates and assumptions affect the amounts we report for assets and liabilities, our revenues and expenses during the reporting period, and our disclosures, including those related to contingent assets and liabilities at the date of our financial statements. We evaluate these estimates on an ongoing basis, utilizing historical experience, consultation with experts and other methods we consider reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from our estimates. Any effects on our business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Certain accounting policies are of more significance in our financial statement preparation process than others, and set out below are the principal accounting policies we apply in the preparation of our financial statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Cash Equivalents</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We define cash equivalents as all highly liquid short-term investments with original maturities of three months or less.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Allowance for Credit Losses</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We evaluate our financial assets measured at amortized cost and off-balance sheet credit exposures for expected credit losses over the contractual term of the asset or exposure. We consider available information relevant to assessing the collectability of cash flows including the expected risk of credit loss even if that risk is remote. We measure expected credit losses on a collective (pool) basis when similar risk characteristics exist and we reflect the expected credit losses on the amortized cost basis of the financial asset as of the reporting date.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our financial instruments primarily consist of our accounts receivable from customers. We utilized historical analysis of credit losses experienced over the previous five years along with current conditions and reasonable and supportable forecasts of future conditions in our evaluation of collectability of our financial assets.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our allowance for credit losses is recorded in Account 144 &#8220;Accum. Provision for Uncollectible Accounts &#8211; Credit&#8221; on our balance sheets</font><font style="font-family: Arial; font-style: italic;">.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Inventories</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our inventories, which consist of materials and supplies, are valued at weighted-average cost, and we periodically review for physical deterioration and obsolescence.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Natural Gas Imbalances</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Natural gas imbalances occur when the amount of natural gas delivered from or received by a pipeline system or storage facility differs from the scheduled amount of gas to be delivered or received. We value these imbalances due to or from shippers and operators at current index prices. Imbalances are settled in cash or made up in-kind, subject to the terms of our FERC tariff. Imbalances due from others are reported on our balance sheets as part of Account 174 "Miscellaneous Current and Accrued Assets." Imbalances owed to others are reported on our balance sheets as part of Account 242 "Miscellaneous Current and Accrued Liabilities." We classify all imbalances due from or owed to others as current as we expect to settle them within a year.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Property, Plant and Equipment</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our property, plant and equipment is recorded at its original cost of construction or, upon acquisition, at either the fair value of the assets acquired or the cost to the entity that first placed the asset in utility service. For constructed assets, we capitalize all construction-related direct labor and material costs, as well as indirect construction costs. Our indirect construction costs primarily include an interest and equity return component (as more fully described below) and labor and related costs associated with supporting construction activities. The indirect capitalized labor and related costs are based upon estimates of time spent supporting construction projects. We expense costs for routine maintenance and repairs in the period incurred.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We use the composite method to depreciate property, plant and equipment. Under this method, assets with similar economic characteristics are grouped and depreciated as one asset. The FERC-accepted depreciation rate is applied to the total cost of the group until the net book value equals the salvage value. For certain general plant, the asset is depreciated to zero. As part of periodic filings with the FERC, we also re-evaluate and receive approval for our depreciation rates. When property, plant and equipment is retired, accumulated depreciation and amortization is charged for the original cost of the assets in addition to the cost to remove, sell or dispose of the assets, less salvage value. We do not recognize gains or losses unless we sell land or an entire operating unit (as approved by the FERC).</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Included in our property balances are base gas and working gas at our storage facility. We periodically evaluate natural gas volumes at our storage facility for gas losses. When events or circumstances indicate a loss has occurred, we recognize a loss on our income statement or defer the loss as a regulatory asset on our balance sheets if deemed probable of recovery through future rates charged to customers.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize a carrying cost (an allowance for funds used during construction or AFUDC) on debt and equity funds related to the construction of long-lived assets. This carrying cost consists of a return on the investment financed by debt and a return on the investment financed by equity. The debt portion is calculated based on our average cost of debt. Interest costs capitalized are included as a reduction to interest charges in Account 432 "Allowance for Borrowed Funds Used During Construction - Credit" on our income statements. The equity portion is calculated based on our most recent FERC approved rate of return. Equity amounts capitalized are included in Account 419.1 "Allowance for Other Funds Used During Construction" on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Asset Retirement Obligations (ARO)</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record liabilities for obligations related to the retirement and removal of long-lived assets used in our business. We record, as liabilities, the fair value of ARO on a discounted basis when they are incurred and can be reasonably estimated, which is typically at the time the assets are installed or acquired. Amounts recorded for the related assets are increased by the amount of these obligations. Over time, the liabilities increase due to the change in their present value, and the initial capitalized costs are depreciated over the useful lives of the related assets. The liabilities are eventually extinguished when the asset is taken out of service.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are required to operate and maintain our natural gas pipelines and storage systems, and intend to do so as long as supply and demand for natural gas exists, which we expect for the foreseeable future. Therefore, we believe that we cannot reasonably estimate the ARO for our assets because these assets have indeterminate lives. We continue to evaluate our ARO and future developments could impact the amounts we record. We had no ARO recorded as of December 31, 2024 and 2023.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Long-lived</font> <font style="font-family: Arial; font-style: italic;">Asset and Investment Impairments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the carrying values may not be recoverable through the regulatory process, and evaluate our investments for other-than-temporary impairment. These events include changes in the manner in which we intend to use a long-lived asset, decisions to sell an asset or investment and adverse changes in market conditions or in the legal or business environment, such as adverse actions by regulators. If an event occurs and if an impairment is indicated, or if we decide to sell a long-lived asset or group of assets, we adjust the carrying value of the asset downward, if necessary and upon regulatory approval, to its estimated fair value.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">There were no impairments for the years ended December 31, 2024 and 2023.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Equity Method of Accounting</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We use the equity method of accounting for investments in subsidiaries. Under this method, our equity investments are carried originally at our acquisition cost, increased by our proportionate share of the investee's net income and by contributions made, and decreased by our proportionate share of the investee's net losses and by distributions received.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Revenue Recognition</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We segregate each class of revenue by account pursuant to the FERC's guidance under Code of Federal Regulations Title 18, Part 201.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Revenue from Contracts with Customers.</font><font style="font-family: Arial;"> We review our contracts with customers using the following steps to recognize revenue based on the transfer of goods or services to customers and in amounts that reflect the consideration the Company expects to receive for those goods or services. The steps include: (i) identify the contract; (ii) identify the performance obligations of the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and then (v) recognize revenue when (or as) the performance obligation is satisfied. Each of these steps involves management judgment and an analysis of the contract's material terms and conditions.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our revenues are primarily generated from the transportation and storage of natural gas under firm service customer contracts with take-or-pay elements (principally for capacity reservation) where both the price and quantity are fixed. Generally, for these contracts: (i) our promise is to transfer (or stand ready to transfer) a series of distinct integrated services over a period of time, which is a single performance obligation; (ii) the transaction price includes fixed and/or variable consideration which is determinable at contract inception and/or at each month end based on our right to invoice at month end for the value of services provided to the customer that month; and (iii) the transaction price is recognized as revenue over the service period specified in the contract as the services are rendered. In these arrangements, the customer is obligated to pay for services associated with its take-or-pay obligation regardless of whether or not the customer chooses to utilize the service in that period. Because we make the service continuously available over the service period, we recognize the take-or-pay amount as revenue ratably over the period based on the passage of time.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The natural gas we receive under our transportation and storage contracts remains under the control of our customers. In many cases, generally described as firm service, the customer generally pays a two-part transaction price that includes (i) a fixed fee reserving the right to transport or store natural gas in our facilities up to contractually specified capacity levels (referred to as "reservation") and (ii) a fee-based per-unit rate for quantities of natural gas actually transported or injected into/withdrawn from storage. In our firm service contracts we generally promise to provide a single integrated service each day over the life of the contract, which is fundamentally a stand-ready obligation to provide services up to the customer's reservation capacity prescribed in the contract. Our customers have a take-or-pay payment obligation with respect to the fixed reservation fee component, regardless of the quantities they actually transport or store. In other cases, generally described as interruptible service, there is no fixed fee associated with these transportation and storage services because the customer accepts the possibility that service may be interrupted at our discretion in order to serve customers who have firm service contracts. We do not have an obligation to perform under interruptible customer arrangements until we accept and schedule the customer's request for periodic service. The customer pays a transaction price on a fee-based per-unit rate for the quantities actually transported or injected into/withdrawn from storage.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Contract Balances</font><font style="font-family: Arial;">. Contract assets and contract liabilities are the result of timing differences between revenue recognition, billings and cash collections. As of December 31, 2024 and 2023, our contract asset balances were approximately $11 million and $12 million, respectively. Of the contract asset balance at December 31, 2023, $1 million was transferred to accounts receivable during the year ended December 31, 2024. As of both December 31, 2024 and 2023, our contract liability balances were approximately $4 million. The contract liability balance at December 31, 2023 of $4 million was recognized as revenue during the year ended December 31, 2024.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Major Customers.</font><font style="font-family: Arial;"> For the years ended December 31, 2024 and 2023, revenues from our largest customer were approximately $205 million and $210 million, respectively, which exceeded 10% of our operating revenues.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental Matters</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize certain environmental expenditures required to obtain rights-of-way, regulatory approvals or permitting as part of the construction of facilities we use in our business operations. We accrue and expense environmental costs that relate to an existing condition caused by past operations, which do not contribute to current or future revenue generation. We generally do not discount environmental liabilities to a net present value, and we record environmental liabilities when environmental assessments and/or remedial efforts are probable and we can reasonably estimate the costs, such as after the completion of a feasibility study or commitment to a formal plan of action. We recognize receivables for anticipated associated insurance recoveries when such recoveries are deemed to be probable.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We routinely conduct reviews of potential environmental issues and claims that assist us in identifying environmental issues and estimating the costs and timing of remediation efforts. We also routinely adjust our environmental liabilities to reflect changes in previous estimates. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us, and potential third-party liability claims we may have against others. Often, as the remediation evaluation and effort progresses, additional information is obtained, requiring revisions to estimated costs. Refer to Note 9 &#8220;Litigation, Environmental and Commitments - </font><font style="font-family: Arial; font-style: italic;">Environmental Matters</font><font style="font-family: Arial;">&#8221; for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We maintain a postretirement benefit plan covering certain of our former employees that we have made contributions to in the past. These contributions are invested until the benefits are paid to plan participants. The net benefit cost (credit) of this plan is recorded on our income statements and is a function of many factors including expected returns on plan assets and amortization of certain deferred gains and losses. Refer to Note 6 for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">In accounting for our postretirement benefit plan, we record an asset or liability based on the difference between the fair value of the plan's assets and the plan's benefit obligation. Any deferred amounts related to unrecognized gains and losses or changes in actuarial assumptions are recorded on our balance sheets as a regulatory asset or liability until those gains or losses are recognized on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Debt</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We classify our debt based on the contractual maturity dates of the underlying debt instruments. We defer costs associated with debt issuance over the applicable term. These costs are then amortized as interest charges on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Regulatory Assets and Liabilities</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that are expected to be recovered from or returned to customers through the ratemaking process. Refer to Note 8 for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">3. Income Taxes</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are a limited liability company that is treated as a partnership for income tax purposes and are not subject to federal or state income taxes; however, all of our activities are included in the tax returns of the owners of our Members, which are taxable C-corporations. Our approved rates include an allowance for income taxes, calculated as if we were a taxable corporation, and the FERC requires that we reflect such taxes in our financial statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record current income taxes based on our taxable income and we provide for deferred income taxes to reflect estimated future tax payments and receipts. Deferred taxes represent the tax impacts of differences between the financial statement and tax bases of assets and liabilities and carryovers at each year end. We account for tax credits under the flow-through method, which reduces the provision for income taxes in the year the tax credits first become available. We reduce deferred tax assets by a valuation allowance when, based on our estimates, it is more likely than not that a portion of those assets will not be realized in a future period. The estimates utilized in the recognition of deferred tax assets are subject to revision, either up or down, in future periods based on new facts or circumstances. Income taxes charged to us are reflected in the accompanying comparative balance sheet in Account 236 "Taxes Accrued" and Accounts 190, 282, and 283 "Accumulated Deferred Income Taxes." A portion of the activity in Account 211 "Miscellaneous Paid-In Capital" reflects the income taxes assigned or advanced to our Members. Current income taxes assigned to our Members are transferred into Account 211 from Account 236. Deferred income taxes advanced to our Members are transferred into Account 211 with an offsetting adjustment to Account 186 "Miscellaneous Deferred Debits." For more information, see Note 7.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects the components of income tax expense included in net income (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 524.4pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 295.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 524.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 141.5pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Current:</font></p> </td> <td style="width: 134.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 141.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p> </td> <td style="width: 5.4pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 107.2pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">33</font></p> </td> <td style="width: 4.1pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 115.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; 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padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 134.2pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">42</font></p> </td> <td style="width: 141.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">34</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 134.2pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 141.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred:</font></p> </td> <td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 141.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p> </td> <td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24</font></p> </td> <td style="width: 141.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">30</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p> </td> <td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> <td style="width: 141.5pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 134.2pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">26</font></p> </td> <td style="width: 141.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">37</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p> </td> <td style="width: 5.4pt; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 107.2pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">68</font></p> </td> <td style="width: 4.1pt; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 115.8pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">The differences between our actual income tax expense and the amount computed by applying the statutory federal income tax rate of 21% are summarized as follows (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 699.859px; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 395.453px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="6"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 699.859px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 186.078px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 196px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 701.859px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Income tax expense at the statutory federal rate</font></p> </td> <td style="width: 102.781px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 67.9219px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">61</font></p> </td> <td style="width: 112.703px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 67.9219px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">61</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 701.859px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State income tax, net of federal income tax effect</font></p> </td> <td style="width: 186.078px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> <td style="width: 196px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 701.859px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liability amortization</font></p> </td> <td style="width: 186.078px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> <td style="width: 196px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 701.859px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p> </td> <td style="width: 30.7188px; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 139.984px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">68</font></p> </td> <td style="width: 59.7188px; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 120.906px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 701.859px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Effective tax rate</font></p> </td> <td style="width: 186.078px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24%</font></p> </td> <td style="width: 196px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">25%</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">The following are the components of our net deferred tax liability at December 31, (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;"> &#160;</font><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">&#160;&#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 525.5pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 316.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 525.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 154.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 152.5pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax liabilities:</font></p> </td> <td style="width: 154.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 152.5pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Property, plant and equipment</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 134.55pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">332</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 132.8pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">303</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Benefits and compensation</font></p> </td> <td style="width: 154.25pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="width: 152.5pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 154.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 152.5pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax liabilities</font></p> </td> <td style="width: 154.25pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">361</font></p> </td> <td style="width: 152.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">330</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 154.25pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 152.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax assets:</font></p> </td> <td style="width: 154.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 152.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liability</font></p> </td> <td style="width: 154.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 152.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 154.25pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> <td style="width: 152.5pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax assets</font></p> </td> <td style="width: 154.25pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">23</font></p> </td> <td style="width: 152.5pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 526.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net deferred tax liability</font></p> </td> <td style="width: 8.9pt; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 134.55pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">338</font></p> </td> <td style="width: 8.9pt; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 132.8pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">309</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">4. Utility Plant</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Our net utility plant consisted of the following (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;</p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 349.05pt; border-right: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 169.05pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Annual Depreciation</font></p> </td> <td style="width: 254.55pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 349.05pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 169.05pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Rates (%)</font></p> </td> <td style="width: 110.55pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 110.55pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transmission and storage facilities</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">1.43 - 2.0</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,185</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,139</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">General plant</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.33 - 20.0</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Intangible plant</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">5.0 - 10.0</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border: 1pt solid #000000; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accumulated depreciation and amortization</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 170.55pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.25pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 112.5pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1,911)</font></p> </td> <td style="width: 112.5pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1,846)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,306</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,325</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Land</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 111.6pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 111.6pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Construction work in progress</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">185</font></p> </td> <td style="width: 111.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">43</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 350.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net utility plant</font></p> </td> <td style="width: 170.1pt; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,505</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.55pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,382</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; font-size: 12pt;">&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; font-size: 12pt;">(1) The composite weighted average depreciation rate for each of the years ended December 31, 2024 and 2023 was 2.0%.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">5. Debt</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table summarizes the net carrying value of our outstanding unsecured debt (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">&#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 379.266px; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 276.891px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="5"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 379.266px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 129.062px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 134.453px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">7.35% Notes due February 2031</font></p> </td> <td style="width: 11.875px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.812px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">153</font></p> </td> <td style="width: 11.875px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 107.203px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">153</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">8.00% Notes due March 2032</font></p> </td> <td style="width: 129.062px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">258</font></p> </td> <td style="width: 134.453px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">258</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">4.80% Senior Notes due March 2047</font></p> </td> <td style="width: 129.062px; border-right: 1pt solid #000000; border-bottom: 6px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">500</font></p> </td> <td style="width: 134.453px; border-right: 1pt solid #000000; border-bottom: 6px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">500</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 129.062px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">911</font></p> </td> <td style="width: 134.453px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">911</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 379.266px; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127.062px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 134.453px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Unamortized premium</font></p> </td> <td style="width: 129.062px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p> </td> <td style="width: 134.453px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Unamortized discount</font></p> </td> <td style="width: 129.062px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 6px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1)</font></p> </td> <td style="width: 134.453px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 6px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 381.266px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total long-term debt</font></p> </td> <td style="width: 11.875px; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 114.188px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 2.15pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">921</font></p> </td> <td style="width: 32px; border-top: 3pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 99.4531px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 2.15pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">921</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our notes are redeemable in whole or in part, at our option at any time, at a redeemable price equal to 100% of the principal amount of the notes plus accrued interest to the redemption date plus a make-whole premium. The stated interest rate on each note is fixed at the level included in the chart above and payable based on a payment schedule set forth in the underlying agreement.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Credit Facility</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2024, we had available a $50 million, unsecured credit facility due May 2026. Our credit facility is with a syndicate of financial institutions with Barclays Bank PLC as the administrative agent. Borrowings under our credit facility can be used for working capital and other general corporate purposes. As of December 31, 2024 and 2023, we had no borrowings outstanding under our credit facility.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our credit facility borrowings bear interest at either (i) Secured Overnight Financing Rate (SOFR), plus (x) a credit spread adjustment and (y) an applicable margin ranging from 0.875% to 1.50% per annum based on our credit ratings or (ii) the greatest of the (a) Federal Funds Effective rate plus 1/2 of 1%, (b) the Prime Rate in effect for such day, and (c) the SOFR rate for a one-month Eurodollar loan plus (x) a credit spread adjustment, (y) 1% and (z) </font>&#160;<font style="font-family: Arial;">in each case, an applicable margin ranging from nil to 0.5%. In addition, we have agreed to pay the administrative agent a commitment fee, based on our credit rating, ranging from 0.075% to 0.200%.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On February 21, 2023, we amended our credit facility to provide for the replacement of</font> <font style="font-family: Arial;">London Interbank Offered Rate (LIBOR)-based provisions with term SOFR provisions and related updates to benchmark replacement.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Our credit facility includes the following restrictive covenants:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-left: 46.8pt; margin-bottom: 12pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">total debt divided by earnings before interest, income taxes, depreciation and amortization may not exceed 5.00 to 1.00;</font></li> <li style="margin-left: 46.8pt; margin-bottom: 12pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">certain limitations on indebtedness, including payments and amendments;</font></li> <li style="margin-left: 46.8pt; margin-bottom: 12pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">certain limitations on entering into mergers, consolidations, sales of assets and investments;</font></li> <li style="margin-left: 46.8pt; margin-bottom: 12pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">limitations on granting liens; and</font></li> <li style="margin-left: 46.8pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">prohibitions on making any distributions if an event of default exists or would exist upon making such a distribution.</font></li> </ul> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Debt Covenants</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Under our various other financing documents, we are subject to certain restrictions and covenants. The most restrictive of these include limitations on the incurrence of liens and limitations on sale-leaseback transactions. For the years ended December 31, 2024 and 2023, we were in compliance with our debt-related covenants.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">6. Retirement Benefits</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Pension and Retirement Savings Plans</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">KMI maintains a pension plan and a retirement savings plan covering substantially all of its U.S. employees, including certain of our former employees. The benefits under the pension plan are determined under a cash balance formula. Under its retirement savings plan, KMI contributes an amount equal to 5% of participants' eligible compensation per year. KMI is responsible for benefits accrued under its plans and allocates certain costs based on a benefit allocation rate applied on payroll charged to its affiliates.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits Plan</font></p> <p style="margin-top: 14pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We provide postretirement benefits, including medical benefits for a closed group of retirees. Medical benefits for pre-age 65 participants of this closed group may be subject to deductibles, co-payment provisions, dollar caps and other limitations on the amount of employer costs, and are subject to further benefit changes by KMI, the plan sponsor. Post-age 65 Medicare eligible participants are provided a fixed subsidy to purchase coverage through a retiree Medicare exchange. In addition, certain former employees continue to receive limited postretirement life insurance benefits. Our postretirement benefit plan costs were prefunded and were recoverable under prior rate case settlements. There is no cost recovery or related funding that is required as part of our current FERC approved rates, however, we can seek to recover any funding shortfall that may be required in the future. We do not expect to make any contributions to our postretirement benefit plan in 2025 and there were no contributions made in 2024 and 2023.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefit Obligation, Plan Assets and Funded Status</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our postretirement benefit obligations and net benefit costs are primarily based on actuarial calculations. We use various assumptions in performing these calculations, including the discount rate used in calculating the benefit obligation, the return that we expect to earn on our plan assets, the estimated cost of health care when benefits are provided under our plan and other factors. The service and interest cost components of net periodic benefit cost (credit) for our postretirement </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">benefit plan are estimated by utilizing a full yield curve approach by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to their underlying projected cash flows.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The table below provides information about our postretirement benefit plan as of and for the years ended December 31, 2024 and 2023 (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;">&#160;</p> <table style="border-collapse: collapse; width: 1261px;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 847.906px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 183.188px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 188.781px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Change in plan assets:</font></p> </td> <td style="width: 183.188px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 188.781px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets - beginning of period</font></p> </td> <td style="width: 75.125px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">66</font></p> </td> <td style="width: 61.1875px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Actual return on plan assets</font></p> </td> <td style="width: 183.188px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7</font></p> </td> <td style="width: 188.781px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Benefits paid</font></p> </td> <td style="width: 183.188px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> <td style="width: 188.781px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets - end of period</font></p> </td> <td style="width: 75.125px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> <td style="width: 61.1875px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">66</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 847.906px; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 181.188px; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 188.781px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Change in postretirement benefit obligation:</font></p> </td> <td style="width: 183.188px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 188.781px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligation - beginning of period</font></p> </td> <td style="width: 75.125px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> <td style="width: 61.1875px; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Interest cost</font></p> </td> <td style="width: 183.188px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="width: 188.781px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Benefits paid</font></p> </td> <td style="width: 183.188px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> <td style="width: 188.781px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligation - end of period</font></p> </td> <td style="width: 75.125px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> <td style="width: 61.1875px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 847.906px; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 181.188px; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 188.781px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Reconciliation of funded status:</font></p> </td> <td style="width: 183.188px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 188.781px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets</font></p> </td> <td style="width: 75.125px; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> <td style="width: 61.1875px; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">66</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 849.906px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Less: Postretirement benefit obligation</font></p> </td> <td style="width: 183.188px; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> <td style="width: 188.781px; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border: 1pt solid #000000; vertical-align: bottom; width: 860.281px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: Arial;">Net asset at December 31</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;"> (1)</font></p> </td> <td style="width: 75.125px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 92.6875px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p> </td> <td style="width: 61.1875px; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.219px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">53</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 108%;"><font style="font-family: Arial;">(1) Net asset amounts are included in Account 128 "Other Special Funds" on our balance sheets.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 108%; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Plan Assets</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The primary investment objective of our plan is to ensure that, over the long-term life of the plan, an adequate pool of sufficiently liquid assets exists to meet the benefit obligations to retirees and beneficiaries. Investment objectives are long-term in nature covering typical market cycles. Any shortfall of investment performance compared to investment objectives is generally the result of economic and capital market conditions. Although actual allocations vary from time to time from our targeted allocations, the target allocations of our postretirement plan's assets are 60% equity and 40% fixed income.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Below are the details of the postretirement benefit plan assets by class and a description of the valuation methodologies used for assets measured at fair value.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-left: 46.8pt; margin-bottom: 12pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">Level 2 assets' fair values are primarily based on pricing data representative of quoted prices for similar assets in active markets (or identical assets in less active markets). Included in this are short term investment funds which are valued at cost plus calculated interest; and</font></li> <li style="margin-left: 46.8pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">Plan assets with fair values that are based on the net asset value per share, or its equivalent (NAV), as a practical expedient to measure fair value, as reported by the issuers are determined based on the fair value of the underlying securities as of the valuation date and include common collective trusts. The plan assets measured at NAV are not categorized within the fair value hierarchy described above, but are separately identified in the table below.</font></li> </ul> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Listed below are the fair values of the plan's assets that are recorded at fair value by class and categorized by fair value measurement used at December 31, 2024 and 2023 (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 741.7pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 131.7pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 132.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 742.7pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investment within fair value hierarchy: Short-term investment fund (money market) measured at Level 2</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="width: 26.7pt; border-top: 4.5pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 94.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 742.7pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investments measured at NAV</font></p> </td> <td style="width: 131.7pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-top: 0.5pt single;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">70</font></p> </td> <td style="width: 131.75pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-top: 0.5pt single;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">65</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 742.7pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investments at fair value</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> <td style="width: 26.7pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 94.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">66</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Expected Payment of Future Benefits</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2024, we expect the following benefit payments under our plan (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year</font></p> </td> <td style="width: 148.2pt; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Total</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2025</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 128.5pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2026</font></p> </td> <td style="width: 148.2pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2027</font></p> </td> <td style="width: 148.2pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2028</font></p> </td> <td style="width: 148.2pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2029</font></p> </td> <td style="width: 148.2pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 634.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2030-2034</font></p> </td> <td style="width: 148.2pt; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Actuarial Assumptions and Sensitivity Analysis</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligations and net benefit costs are based on actuarial estimates and assumptions. The following table details the weighted average actuarial assumptions used in determining our postretirement plan obligations and net benefit costs:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 703.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 148.35pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 135.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 704.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Assumptions related to benefit obligations at December 31:</font></p> </td> <td style="width: 148.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 704.55pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Discount rate</font></p> </td> <td style="width: 148.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.44%</font></p> </td> <td style="width: 135.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.08%</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 704.55pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Assumptions related to benefit costs for the year ended December 31:</font></p> </td> <td style="width: 148.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 704.55pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Discount rate </font></p> </td> <td style="width: 148.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.08%</font></p> </td> <td style="width: 135.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.39%</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Expected return on plan assets</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;"> (1)</font></p> </td> <td style="width: 148.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.00%</font></p> </td> <td style="width: 135.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.00%</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 18pt; margin-bottom: 0pt; text-indent: -18pt; text-align: justify; -aw-import: list-item; -aw-list-level-number: 0; -aw-list-number-format: '(%0)'; -aw-list-number-styles: 'decimal'; -aw-list-number-values: '1'; -aw-list-padding-sml: 3.33pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial;">(1)</font><font style="width: 3.33pt; font: 7pt 'Times New Roman'; display: inline-block; -aw-import: spaces;"> &#160;</font></font><font style="font-family: Arial;">The expected return on plan assets listed in the table above is a pre-tax rate of return based on our targeted portfolio of investments. We utilize an after-tax expected return on</font> <font style="font-family: Arial;">plan assets to determine our benefit costs, which reflects expected unrelated business income taxes. </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Actuarial estimates for our postretirement benefits plan assume an annual increase in the per capita costs of covered health care benefits; the initial annual rate of increase is 7.40%. </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Components of Net Benefit Credit</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The components of net benefit credit are as follows (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse; width: 747px;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 410.047px; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 309.203px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 410.047px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 141.797px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 154.031px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 412.047px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Interest cost</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 114.547px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 112.547px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 26.1094px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 412.047px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Expected return on plan assets</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 114.547px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(3)</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 112.547px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 26.1094px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 412.047px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Amortization of prior service credit</font></p> </td> <td style="width: 141.797px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> <td style="width: 154.031px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 412.047px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">&#160; </font><font style="font-family: Arial; -aw-import: spaces;">&#160; </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Net benefit credit</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 114.547px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(4)</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 112.547px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 26.1094px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(3)</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">7. Related Party Transactions</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Proprietary Capital</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects changes to our proprietary capital accounts resulting from distributions paid to our Members, as well as other changes in certain proprietary capital accounts (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr> <td style="width: 366.85pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 550.25pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="8"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr> <td style="width: 366.85pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 266.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 262.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr> <td style="width: 366.85pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 121.45pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 123.7pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 119.2pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 121.9pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> </tr> <tr> <td style="width: 366.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 121.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p> </td> <td style="width: 123.7pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p> </td> <td style="width: 119.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p> </td> <td style="width: 121.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p> </td> </tr> <tr style="height: 4.05pt;"> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - Beginning of Year</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,643</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,640</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 21.5pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net Income, less equity in earnings of Bear Creek</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">215</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">210</font></p> </td> </tr> <tr style="height: 19.7pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 18.35pt;"> <td style="width: 386.45pt; border: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer of net earnings from Account 216 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">218</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(218)</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">212</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(212)</font></p> </td> </tr> <tr style="height: 16.55pt;"> <td style="width: 386.45pt; border: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 236 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">42</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">34</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 7.5pt;"> <td style="width: 386.45pt; border: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 186 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">29</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">40</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total Transfers</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">289</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(218)</font></p> </td> <td style="width: 47.35pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">286</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(212)</font></p> </td> </tr> <tr style="height: 20.85pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions of pre-tax earnings</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(289)</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(286)</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions as return of capital</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(33)</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(19)</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total Distributions to Members</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(322)</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(305)</font></p> </td> <td style="width: 49.6pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 21.75pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Cash distributions of earnings from Bear Creek</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> </tr> <tr style="height: 20.15pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capital contributions from Members</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">164</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> <td style="width: 49.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 20.6pt;"> <td style="width: 366.25pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 51.9pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 47.7pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.65pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.95pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.75pt; border-bottom: 3pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr> <td style="width: 367.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - End of Year</font></p> </td> <td style="width: 49.6pt; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,774</font></p> </td> <td style="width: 49.6pt; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 52.55pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 47.35pt; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,643</font></p> </td> <td style="width: 49.6pt; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 50.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Arial;">(1) Settlements of these amounts are made within equity and are considered non-cash financing activities.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Affiliate Balances and Activities</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table summarizes our balance sheet affiliate balances (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; width: 97px;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 531px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 333px; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 143.25px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 176.375px; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; width: 97px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">146</font></p> </td> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; width: 531px;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts receivable from associated companies</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 116px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 34px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 127px; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">18</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; width: 97px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">174</font></p> </td> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; width: 531px;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalances receivable from associated companies</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 116px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 34px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127px; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; width: 97px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p> </td> <td style="border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; width: 531px;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Advance of deferred income taxes to Members</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 116px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">338</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 34px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127px; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">309</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; width: 97px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">234</font></p> </td> <td style="border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom; width: 531px;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts payable to associated companies</font></p> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 11.875px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 116px; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; width: 34px;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127px; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We do not have employees and are operated by KMSO, an indirect subsidiary of KMI; therefore, employees of KMI provide services to us. Pursuant to our Operations and Management Agreement with KMSO, we reimburse KMI monthly for direct operating expenses incurred on our behalf. We also reimburse KMI at cost for allocated general and administrative costs in addition to indirect costs incurred on our behalf. </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table shows revenues and costs from our affiliates (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 663.65pt; border-right: 1pt solid #000000; padding-right: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 271.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 663.65pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 126.7pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 124.15pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 663.15pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Revenues</font></p> </td> <td style="width: 3.5pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">&#160;$</font></p> </td> <td style="width: 122.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">206</font></p> </td> <td style="width: 3.5pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">&#160;$</font></p> </td> <td style="width: 119.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">210</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="border: 1pt solid #000000; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Operation, maintenance and payroll tax expenses</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)(2)</font></p> </td> <td style="width: 3.5pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 122.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">147</font></p> </td> <td style="width: 3.5pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 119.55pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">144</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 663.15pt; 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border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 6pt; text-align: justify;"><font style="font-family: Arial;">(1) Includes costs associated with affiliate agreement described above.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(2) Includes expenses associated with transportation and storage agreements. 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-aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Other</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-top: 0.25pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single; -aw-border-top: 0.25pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-top: 0.25pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single; -aw-border-top: 0.25pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Total regulatory assets </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 16.2pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 61.2pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">41</font></p> </td> <td style="width: 2.7pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.7pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">38</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 16.2pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 2.7pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities (Account 254)</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Income tax related</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">54</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">57</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Difference between gas retained and gas consumed in operations</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Postretirement benefits</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Gas imbalance cash out</font></p> </td> <td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 61.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 2.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 83.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">10</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 511.2pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Total regulatory liabilities</font></p> </td> <td style="width: 16.2pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 61.2pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">73</font></p> </td> <td style="width: 2.7pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 83.7pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">80</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1) Assets recoverable without earning a return.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our significant regulatory assets and liabilities include:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Taxes on capitalized funds used during construction. </font><font style="font-family: Arial;">Amounts represent the deferred income taxes on AFUDC equity funds. These amounts are recoverable in our tariff rates over the depreciable lives of the assets to which they apply.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Difference between gas retained and gas consumed in operations.&#160;</font><font style="font-family: Arial;">We obtain natural gas quantities from our shippers, in accordance with our tariff, as reimbursement for gas and electricity fuel-related costs required for operations and for gas quantities lost and otherwise unaccounted for (Fuel Recovery Mechanism). On a semi-annual basis, we make a filing with the FERC updating the fuel retention percentages. Our tariff provides that the difference between the amount of gas retained from the fuel retention percentages and the amount of gas and electricity fuel-related costs consumed for operations and gas quantities lost and otherwise unaccounted for over the applicable period will be flowed through or charged to shippers by including such difference in the calculation to update the fuel retention percentages. </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;">&#160;</p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-size: 21.3333px;">For the years ended December 31, 2024 and 2023, we recorded a net regulatory expense of $14 million and a net regulatory benefit of $17 million, respectively, related to our Fuel Recovery Mechanism.</font>&#160;</p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;">&#160;</p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Gas imbalance cash out. </font><font style="font-family: Arial;">Amounts reflect the revenue or cost from cash out activity net of the revenue or cost from operational sales or purchases of gas to offset the net cash out activity.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 120%; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 120%; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Income tax related. </font><font style="font-family: Arial;">Amounts represent the anticipated return to ratepayers of deferred income taxes as a result of the Tax Cuts and Jobs Act of 2017, which lowered the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018. These amounts are amortized to Account 411.1 &#8220;Provision for Deferred Income Taxes &#8211; Credit&#8221; over the remaining depreciable lives of the assets to which they apply.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits.&#160;</font><font style="font-family: Arial;">Amounts represent unrecognized gains and losses related to our postretirement benefit plan.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">9. Litigation, Environmental and Commitments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Legal Proceedings</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are party to various legal, regulatory and other matters arising from the day-to-day operations of our businesses that may result in claims against the Company. Although no assurance can be given, we believe, based on our experiences to date and taking into account established reserves, that the ultimate resolution of such items will not have a material adverse impact to our financial position, cash flows or operating results. We believe we have numerous and substantial defenses to the matters to which we are a party and intend to vigorously defend the Company. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material or, in the judgment of management, we conclude the matter should otherwise be disclosed.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2024 and 2023, we had approximately $1 million and $2 million, respectively, accrued for our outstanding legal proceedings, including the environmental litigation proceedings identified below.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental Matters</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are subject to environmental cleanup and enforcement actions from time to time. In particular, the Comprehensive Environmental Response, Compensation and Liability Act generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a "reasonable basis" for apportionment of costs. Our operations are also subject to federal, state and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments could result in substantial costs and liabilities to us, such as increasingly stringent environmental laws, regulations and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Louisiana Governmental Coastal Zone Erosion Litigation. </font><font style="font-family: Arial;">Beginning in 2013, several parishes in Louisiana and the City of New Orleans filed separate lawsuits in state district courts in Louisiana against a number of oil and gas companies, including us. The lawsuits </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">allege that certain of the defendants&#8217; oil and gas exploration, production and transportation operations were conducted in violation of the State and Local Coastal Resources Management Act of 1978, as amended (SLCRMA) and that those operations caused substantial damage to the coastal waters of Louisiana and nearby lands. Plaintiffs seek, among other relief, unspecified money damages, attorney fees, interest, and restoration costs. There are more than 40 of these cases pending in Louisiana against oil and gas companies, one of which is against us, as described further below.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On March 29, 2019, the City of New Orleans (Orleans) filed a petition in the state district court for Orleans Parish, Louisiana against us and 10 other energy companies alleging that the defendants' operations in Orleans Parish violated the SLCRMA and Louisiana law and caused substantial damage to the coastal waters and nearby lands. Orleans seeks, among other relief, unspecified money damages, attorney fees, interest, and restoration costs. In April 2019, the case was removed to the U.S. District Court for the Eastern District of Louisiana. In January 2020, the U.S. District Court ordered the case to be stayed and administratively closed pending the resolution of issues in a separate case to which we are not a party.</font><font style="font-family: Arial; -aw-import: spaces;">&#160; </font><font style="font-family: Arial;">On May 3, 2023, the U.S. District Court re-opened the case. On February 28, 2024, the U.S. District court entered partial Final Judgment dismissing a co-defendant and stayed the case pending an appeal by Orleans to the U.S. Court of Appeals for the Fifth Circuit. On January 23, 2025, the U.S. Court of Appeals for the Fifth Circuit affirmed the U.S. District Court&#8217;s judgment, thereby retaining jurisdiction and dismissing a co-defendant on the basis that SLCRMA does not apply to a co-defendant&#8217;s pipeline constructed prior to the regulation&#8217;s effective date.</font><font style="font-family: Arial; -aw-import: spaces;">&#160; </font><font style="font-family: Arial;">Considering this ruling and that our pipelines were constructed prior to the regulation&#8217;s effective date, we intend to seek to be dismissed from this suit on the same basis through subsequent motion practice. We intend to vigorously defend this case.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters set forth in this note, and other matters to which we and our subsidiary are a party, will not have a material adverse effect on our financial position, cash flows or operating results. As of both December 31, 2024 and 2023, we had less than $1 million accrued for our environmental matters.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Commitments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"><font style="font-size: 21.3333px; font-style: italic;">Capital Commitments.&#160;</font>As of December 31, 2024, we had capital commitments of approximately $44 million. We have other planned capital and investment projects that are discretionary in nature, with no substantial contractual capital commitments made in advance of the actual expenditures.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Purchase Obligations</font><font style="font-family: Arial;">. We have entered into unconditional purchase obligations for transportation and storage services with Mississippi Hub LLC, a third party, and our affiliates, including Elba Express Company, L.L.C, Magnolia Enterprise Holdings Inc, and Bear Creek. Future annual obligations as of December 31, 2024 are as follows:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse; width: 620px;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border-width: 1pt 1pt 4.5pt; border-style: solid; border-color: #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year</font></p> </td> <td style="width: 398.547px; border: 1pt solid #000000; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Commitments</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 206.359px; border-width: 1pt 1pt 4.5pt; border-style: solid; border-color: #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Affiliate</font></p> </td> <td style="width: 191.188px; border-width: 1pt 1pt 4.5pt; border-style: solid; border-color: #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Total</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border-width: 4.5pt 1pt 1pt; border-style: solid; border-color: #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2025</font></p> </td> <td style="width: 26.6094px; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 178.75px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">38</font></p> </td> <td style="width: 27.5156px; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 162.672px; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">46</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2026</font></p> </td> <td style="width: 206.359px; border: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">31</font></p> </td> <td style="width: 191.188px; border: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2027</font></p> </td> <td style="width: 206.359px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">20</font></p> </td> <td style="width: 191.188px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2028</font></p> </td> <td style="width: 206.359px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 191.188px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2029</font></p> </td> <td style="width: 206.359px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 191.188px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">16</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Thereafter</font></p> </td> <td style="width: 206.359px; border-width: 1pt 1pt 6px; border-style: solid; border-color: #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">63</font></p> </td> <td style="width: 191.188px; border-width: 1pt 1pt 6px; border-style: solid; border-color: #000000; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">63</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 208.078px; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total</font></p> </td> <td style="width: 26.6094px; border-top: 3pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 178.75px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">180</font></p> </td> <td style="width: 27.5156px; border-top: 3pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 162.672px; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">213</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">For the years ended December 31, 2024 and 2023, total expenses related to these commitments were approximately $51 million and $47 million, respectively, of which approximately $44 million in each period was with our affiliates. These expenses are reflected in Account 401 "Operation Expenses" on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">10. 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vertical-align: bottom; -aw-border-top: 0.5pt single;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 280.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 138.65pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 139.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 281.05pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Interest paid, net of capitalized interest</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3pt; margin-bottom: 0pt; text-indent: -3pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 95.65pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">54</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 96.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">56</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 281.05pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net increase in utility plant accruals</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3pt; margin-bottom: 0pt; text-indent: -3pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 95.65pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 96.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">11. Recent Accounting Pronouncement</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Accounting Standards Update (ASU) No 2023-09</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: spaces;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On December 14, 2023, the Financial Accounting Standards Board issued ASU No. 2023-09, &#8220;Income Taxes (Topic 740): Improvements to Income Tax Disclosures.&#8221; This ASU improves the transparency of income tax disclosures by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) income taxes paid disaggregated by jurisdiction. This ASU will be effective for us January 1, 2025, and early adoption is permitted. Management is currently evaluating this ASU to determine its impact on the Company&#8217;s annual disclosures.</font></p> </div> </div></div> 1965275 Contribution in Aid of Construction 5453806 Capitalized Interest - Tax 1265474 Capitalized Overhead - Tax 8684555 33152460 Current Federal Income Tax 24088201 Deferred Federal Income Tax 2453800 State Deferred Income Tax 85267611 Book Depreciation and Amortization 264428 Meals and Entertainment 10069 Bad Debt 1077066 Revenue Reserve 9236914 Regulatory Asset Amortization 654445 Premium/Expense on Retired Debt 926431 Park and Loan Deferral 9602065 Cashout Tracker 166733490 1775335 AFUDC - Book Capitalized Interest 6304838 AFUDC Equity - Book Capitalized Amount 2111344 AFUDC Regulatory Asset 10559374 Capitalized Overhead - Book 4360898 ASC 715 Post Retirement Benefits 9602065 Cashout Tracker 34713854 187914428 Tax Depreciation and Amortization 5165735 Repairs Deduction 8465598 Cost of Removal 2927812 Partnership Income 1182322 Environmental Reserve 205655895 157277073 33028185 21% of Taxable Income 124275 Return to Provision 33152460 Federal Income Tax - Current 5 6 7 10 11 12 13 14 15 16 17 18 19 20 23 24 25 26 27 28 31 32 33 34 35 39 40 41 42 43 44 Directly Charged Salaries and Wages Kinder Morgan, Inc. Various 47763174 Other Compensation and Benefits Kinder Morgan, Inc. Various 3261621 Shared Services Kinder Morgan, Inc. Various 14190174 Construction Overheads Kinder Morgan, Inc. Various 11338956 Contract Storage Bear Creek Storage Company, L.L.C. 824 12769386 Capacity Lease Magnolia Enterprise Holdings, Inc. 858 6369564 Electric Power Services Alabama Power Company Various 32567554 Electric Power Services Georgia Power Company Various 6921885 Electric Power Services Mississippi Power Company Various 296879 Transportation Agreement Elba Express Company, L.L.C. 858 25203685 Other, less than $250,000 856 7635 160690513 Transportation & Storage Revenues Atlanta Gas Light Company Various 23270479 Transportation & Storage Revenues Chattanooga Gas Company Various 4018577 Transportation Revenues Southern Company Services, Inc. Various 149172648 Transportation & Storage Revenues SouthStar Energy Services, LLC Various 28838323 Transportation Revenues Tennessee Gas Pipeline Company, L.L.C. Various 693455 205993482 2 3 4 5 6 7 8 9 10 11 12 15 16 17 18 19 1142183 1142183 21720157 21720157 13840388 13840388 36702728 36702728 293331 293331 12063223 12063223 12356554 12356554 1435514 1435514 33783380 33783380 13840388 13840388 49059282 49059282 49059282 49059282 1989807 1989807 1989807 1989807 170263 170263 170263 170263 Account 186 120025 120025 120025 120025 51339377 51339377 13 See Page 102 "Control Over Respondent" for a description of our ownership structure. Equity in earnings of subsidiary companies $ 7,236,343 Cash distributions of earnings from Bear Creek Storage Company, L.L.C. (Bear Creek) (3,450,000) Total $ 3,786,343 Equity in earnings of subsidiary companies $ 7,493,394 Cash distributions of earnings from Bear Creek (1,650,000) Total $ 5,843,394 Account 131 - Cash $ 87,526 Account 136 - Temporary Cash Investments 17,271,793 Total $ 17,359,319 Use tax is distributed to various accounts based on the accounts charged for the originating invoice. As of December 31, 2023, we estimate that the following deferred tax balance in Account 190 could be used in the development of jurisdictional recourse rates: Regulatory Liability - Deferred Income Tax Rate Adjustment $ 14,407,322 As of December 31, 2023, we estimate that the following deferred tax balance in Account 282 could be used in the development of jurisdictional recourse rates: Property, Plant, and Equipment $ 312,404,498 As of December 31, 2023, we estimate that the following deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates: Reacquired Debt Amortization $ 1,245,653 Our cost of debt is based on actual costs incurred. The cost rate percentage of common equity is based on the approved rate in Docket No. RP99-496. The SNG rate cases since (RP04-523, RP09-247, RP13-886, and RP18-556) have been black-box settlements in which the rate of return has not been specified. Underground Storage Plant (in thousands) Pg 204 Ln 57 Col (g) $ 141,884 Less: Land 461 $ 141,423 Intangible Plant (in thousands) Pg 204 Ln 5 Col (g) $ 16,563 Less: Franchise & Consents (fully depreciated) 2,042 $ 14,521 Rates Software 10.00% Other Intangibles 5.00% / 6.67% / 10.00% See page 332 for additional details on Transmission and Compression of Gas by Others. Account Amount 856 $ 27,249 857 517,159 859 16,052 Total $ 560,460 Recorded pursuant to Docket No. AI07-1-000 issued March 29, 2007. Recorded pursuant to Docket No. RP89-224. Recorded pursuant to Section 35 of the General Terms and Conditions of our tariff. Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates. Recorded pursuant to Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes). We estimate approximately $2.4 million of the ending balance is associated with the project granted non-traditional rate treatment that is reported on page 217. All volumes were converted to energy using a BTU conversion factor of 1.0357. Cushion gas consists of 45,400,107 Dth of recoverable volumes included in Account 117.1 and 12,102,793 Dth of non-recoverable volumes included in Account 101. Also, 1,021,700 Dth of third party parked gas is serving a cushion gas function. All volumes were converted to energy using a BTU conversion factor of 1.03. All volumes were converted to energy using a BTU conversion factor of 1.03. Operational and cashout purchases recorded in Account 803. Gas withdrawn from storage for system balancing purposes. Operational and cashout sales recorded in Account 803. Gas delivered to storage for system balancing purposes. A reconciliation of fuel volumes in line 28, column (c) to fuel volumes on pages 331 and 508 is as follows: Total line 28, col (c) 13,721,129 Bear Creek Fuel Refund 187,266 Elba Express Fuel Refund (11,458) Out of Period Adjustments (1,492) Estimate to Actual Differences (56,693) Total Dth Account 810, p331 13,838,752 Operational purchases recorded in Account 803. Gas withdrawn from storage for system balancing purposes. Many of the natural gas volumes required to be reported on this page are tracked at the entity level, rather than by service type (i.e. firm transport, interruptible transport, etc.) or by discounted, negotiated, or recourse rate contracts. Therefore, the amounts reported have been allocated to the service types and to discounted, negotiated, or recourse rate contracts based on reasonable assumptions. Line 14 dekatherms do not include electric compressor stations. This footnote applies to all periods within the quarter. Line 18 includes compressor blowdowns, pipeline losses, and other gas used for utility operations. This footnote applies to all periods within the quarter. The value of this gas is based on the current month cash out price provided for in our tariff. This footnote applies to all periods within the quarter. We use a non-revenue recognition method for shipper-supplied gas which results in accounting entries for net fuel over or under-collected rather than separate revenue entries for shipper-supplied gas used in operations. This footnote applies to all periods within the quarter. Transmission Plant (in thousands) Pg 204 Ln 92 Col (g) $ 4,057,603 Less: Land 13,280 $ 4,044,323 The Bear Creek Storage Field is owned 50 percent each by Southern Natural Gas Company, L.L.C (SNG) and Tennessee Gas Pipeline Company, L.L.C. The Muldon Storage field has a certified maximum daily delivery capacity of 750,000 Mcf. (Dekatherm equivalent 772,500 by a factor of 1.030). One unit at Riceboro, GA compressor station is leased from Magnolia Enterprise Holdings, Inc. This amount would be excluded in the development of jurisdictional recourse rates. Industry Research: FIS Capital Markets US LLC Our methodology for allocating costs to incremental facilities in a Section 4 filing may differ from that displayed here. This footnote also applies to line 1 columns (h) and (j). See page 122.1, Notes to Financial Statements, Note 5 "Debt" for information regarding interest rate on credit facility borrowings. Transferred to Account 211 "Miscellaneous Paid-in-Capital." Account Amount 107 $ 257,327 108 20,522 186 21,164 926 2,962,608 Total $ 3,261,621 Page 204, Line 129, Column (d) $ 12,130,172 Less: Intangible Plant Retirements 1,375,818 Less: Leasehold Improvement Retirements 17,342 Book Cost of Plant Retired $ 10,737,012 Kinder Morgan SNG Operator LLC is an indirect, wholly-owned subsidiary of Kinder Morgan, Inc. Rates Computer Equipment 20.00% Vehicles 20.00% Trailers 5.00% Stores Equipment 3.33% Tools, Shop, Garage, and Lab Equipment 6.67% Laboratory Equipment 6.67% Power Operated Equipment 6.67% Communication Equipment 12.50% Miscellaneous Equipment 5.00% As of December 31, 2024, we estimate that the following deferred tax balance in Account 190 could be used in the development of jurisdictional recourse rates: Regulatory Liability - Deferred Income Tax Rate Adjustment $ 17,780,294 As of December 31, 2024, we estimate that the following deferred tax balance in Account 282 could be used in the development of jurisdictional recourse rates: Property, Plant, and Equipment $ 340,049,707 As of December 31, 2024, we estimate that the following deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates: Reacquired Debt Amortization $ 1,070,572 Operational and cashout sales recorded in Account 803. Gas delivered to storage for system balancing purposes. Schedule of volumes for calculation of Annual FERC charges. Deliveries of Gas Transported to Other 1,114,034,886 Less: Customer Deliveries to Storage 72,456,334 Total 1,041,578,552 450,000 Mcf. (Dth equivalent 463,500 by a factor of 1.030) represents SNG's half of Bear Creek's total certified maximum daily delivery capacity. These revenues are associated with park and loan agreements. The net monthly park and loan volume activity for the quarter is as follows: Dth Net Park/(Loan) Balance - Beginning of Quarter 7,222,585 Month 1 net activity 4,596,569 Month 2 net activity 2,314,568 Month 3 net activity (256,821) Net Quarterly Activity 6,654,316 Net Park/(Loan) Balance - End of Quarter 13,876,901 A reconciliation of fuel volumes in column (i) to fuel volumes on page 331 is as follows: Total column (i) 11,420,437 Off System (SESH) 1,761,218 Off System (Bear Creek) 404,333 Off System (Elba Express) 33,206 Off System (MS Hub) 213,615 Out of Period Adjustments (1,493) Estimate to Actual Differences 7,436 Total DthAccount 810 p 331 13,838,752 A reconciliation of fuel expenses in column (f) to fuel expenses on page 331 is as follows: Total column (f) $ 27,521,008 Off System (SESH) 4,036,851 Off System (Bear Creek) 932,928 Off System (Elba Express) 72,354 Off System (MS Hub) 498,446 Out of Period Adjustments (2,269) Estimate to Actual Differences 106,039 Total expense Account 810 p 331 $ 33,165,357 In accordance with FERC Order No. 581, we use the fixed asset method. For purposes of accounting for encroachment resulting from line inventory changes, we use Account 117.4 with appropriate debits to Account 808.1 and credits to Account 808.2. Miles Name of Line Joint Owner Percentage 13.1 30" Twin 30s Line Magnolia Enterprise Holdings, Inc (MEHI), Elba Express & Dominion Energy Carolina 45.00 72.4 24" Cypress Line MEHI 85.00 9.5 Wrens Savannah Line MEHI 65.00 53.8 Brunswick Line MEHI 60.00 Account Amount 107 $ 2,088,520 108 178,465 186 128,245 408.1 2,936,291 814 727 816 13,370 818 1,128,086 832 34,400 834 258,931 850 5,866,537 852 972 853 8,431,536 856 5,137,984 857 2,283,128 861 922,901 863 4,072,812 864 6,067,377 865 1,000,007 866 126 920 7,212,759 Total $ 47,763,174 Amounts charged are based on Kinder Morgan, Inc.'s other compensation and benefit expenses and are allocated to us based on the distribution of direct labor charges (excluding overtime and special pay). Account Amount 408.1 $ 507,484 920 6,627,629 923 1,183,877 925 1,430,406 926 1,263,752 930.2 1,930,306 931 1,246,720 Total $ 14,190,174 See page 218 "General Description of Construction Overhead Procedure" for the basis of allocation. Account Amount 107 $ 11,026,400 186 312,556 Total $ 11,338,956 Account Amount 852 $ 369 853 392,511 855 31,925,220 856 185,790 857 61,073 863 2,591 Total $ 32,567,554 Account Amount 853 $ 106,150 855 6,709,008 856 77,376 857 27,865 863 1,486 Total $ 6,921,885 Account Amount 853 $ 296,170 857 637 863 72 Total $ 296,879 Evergreen Enterprise Holdings LLC is an indirect, wholly-owned subsidiary of The Southern Company. General Plant (in thousands) Pg 204 Ln 124 Col (g) $ 15,005 Less: Office Furniture (fully depreciated) 33 $ 14,972 Account Amount 489.2 $ 153,584,661 496 (4,412,013) Total $ 149,172,648 Account Amount 489.2 $ 795,220 496 (101,765) Total $ 693,455 Amounts charged by Kinder Morgan, Inc. through shared services are allocated using the modified Massachusetts Formula. Account Amount 489.2 $ 24,017,525 489.4 3,864,733 496 (4,611,779) Total $ 23,270,479 Account Amount 489.2 $ 26,389,852 489.4 2,391,740 496 56,731 Total $ 28,838,323 Account Amount 489.2 $ 3,700,411 489.4 450,765 496 (132,599) Total $ 4,018,577