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ferc:ThreeDayPeakDeliveriesMember 51 2024-01-01 2024-12-31 C002096 ferc:DeliveredToOthersMember ferc:ThreeDayPeakDeliveriesMember 51 2024-01-01 2024-12-31 C002096 ferc:ThreeDayPeakDeliveriesMember 35 2024-01-01 2024-12-31 C002096 ferc:DeliveredToInterstatePipelinesMember ferc:ThreeDayPeakDeliveriesMember 35 2024-01-01 2024-12-31 C002096 ferc:ThreeDayPeakDeliveriesMember 52 2024-01-01 2024-12-31 C002096 ferc:DeliveredToInterstatePipelinesMember ferc:ThreeDayPeakDeliveriesMember 52 2024-01-01 2024-12-31 C002096 ferc:DeliveredToOthersMember ferc:ThreeDayPeakDeliveriesMember 52 2024-01-01 2024-12-31 C002096 1 2024-01-01 2024-12-31 C002096 1 2024-12-31 C002096 2 2024-01-01 2024-12-31 C002096 2 2024-12-31 C002096 3 2024-01-01 2024-12-31 C002096 3 2024-12-31 C002096 4 2024-01-01 2024-12-31 C002096 4 2024-12-31 C002096 5 2024-01-01 2024-12-31 C002096 5 2024-12-31 C002096 6 2024-01-01 2024-12-31 C002096 6 2024-12-31 C002096 7 2024-01-01 2024-12-31 C002096 7 2024-12-31 C002096 8 2024-01-01 2024-12-31 C002096 8 2024-12-31 C002096 9 2024-01-01 2024-12-31 C002096 9 2024-12-31 C002096 10 2024-01-01 2024-12-31 C002096 10 2024-12-31 C002096 11 2024-01-01 2024-12-31 C002096 12 2024-01-01 2024-12-31 C002096 ferc:GasUtilityMember 17 2024-01-01 2024-12-31 C002096 ferc:GasUtilityMember 17 2024-12-31 C002096 17 2024-01-01 2024-12-31 xbrli:pure utr:kWh utr:mi utr:MW iso4217:USD iso4217:USD utr:dth utr:dth Vicki A. Phillips Vice President /s/ Vicki A. Phillips 2025-04-10 2 Natural Gas Pipeline Company of America LLC C002096 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 5224341320 5067753461 80322218 60236530 5304663538 5127989991 3174478298 3111196106 2130185240 2016793885 2130185240 2016793885 179670214 179670214 1932187 11904784 113259 113259 8401153 8395128 8514412 8508387 2131379 472838 41085 18078292 90730908 92870650 293 3023 394173 437314 28531892 24683968 66419479 62591450 34247173 29519976 78924 222496382 228730389 9936160 9561442 940137 19839915 22711733 35137529 37682317 65853741 69955492 2608652176 2515563151 555900938 555900938 1426907259 1335974797 316622 310597 -1647613 -1647613 1981477206 1890538719 262041 262041 60040112 52278656 13835342 14841103 4273810 3643810 28848253 28129754 24550347 29758776 1077453 132363276 128652099 14631067 15020285 418508 448508 8679802 10063992 135529349 145581810 328288949 317500215 7001978 7757523 494549653 496372333 2608652176 2515563151 954739640 981365920 954739640 981365920 237065857 243189130 237065857 243189130 99645310 105207295 99645310 105207295 112087506 109579415 112087506 109579415 881027 849772 881027 849772 690564 404908 690564 404908 912556 714226 912556 714226 40831304 39872983 40831304 39872983 85818227 91059858 85818227 91059858 17118219 18181074 17118219 18181074 12628296 12272898 12628296 12272898 10496381 20357554 10496381 20357554 595357373 599545553 595357373 599545553 359382267 381820367 359382267 381820367 6025 1169043 3059059 3675249 2872066 1512904 1965472 3088425 7902622 9445621 -1265 78500 10395 9746 -6369 21369 4026 108350 1308878 1897818 194669 281266 705226 366876 293612 266007 30000 30000 1885161 2249953 6013435 7087318 718 4237 1152301 820667 -1151583 -816430 366547285 389724115 366547285 389724115 1335974797 1310691739 366541260 388555072 1000000 1426907259 141554 1000000 Distributions to Members 275608798 364272014 1 555900938 555900938 62366311 76229104 62366311 76229104 -9972597 -6214511 40779125 66171689 34634558 64304331 30546095 34175870 7920642 14052913 38466737 48228783 5686387 10165022 25757931 33818190 25757931 33818190 1926253 1801403 2155924 1798451 3323251 4078105 8009629 8031668 7979129 12193007 26548 47845 2142961 1846352 547924 593781 173637 169873 26285256 30560485 178291 171356 900 5735066 6556177 3914690 3899174 4825780 4603458 16036 34073 1589707 1298327 252796 227602 16512366 16791067 42797622 47351552 42797622 47351552 13278824 12819325 93203 61859 85529 33801923 31062656 27502066 27439404 23713815 24938729 21967466 20403283 5938531 5859416 557723 466809 5110699 4141027 1276493 1115041 133302602 128331219 1630166 1452488 26830 97177 67241653 72272455 12362088 12903854 1717471 1534516 404 154736 155334 83132944 88416228 216435546 216747447 -3023 3023 -3023 3023 22936898 22036715 583418 532228 638765 622748 2328495 2369550 1658577 1726739 2086164 2145796 14863926 14467136 2978389 2880473 2866929 2726775 2059060 2213549 51723091 50476213 51723091 50476213 336711167 348396425 Horizon Pipeline Company, L.L.C. J Natural Gas Transmission 0.50 Horizon Pipeline Company, L.L.C. is jointly owned, 50% by Natural Gas Pipeline Company of America LLC and 50% by Nicor-Horizon, Inc., a subsidiary of The Southern Company. 1 0 NGPL PipeCo LLC J DE 0.6500 NGPL Finance LLC J DE 0.3500 NGPL Holdings LLC I DE 1.0000 Kinder Morgan NGPL Holdings LLC I DE 0.3750 AL NGPL Holdings, LLC I DE 0.3750 BIP PipeCo Holdings LLC I AU 0.2500 Kinder Morgan, Inc. M DE 0.3750 ArcLight Capital Partners, LLC M DE 0.3750 Brookfield Infrastructure Partners L.P. 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Pitta - Vice President</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">&#160;</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">Resignation:</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">&#160;</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">&#160; Denise Mathews - Vice President</font></p></div> <div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">13.&#160; N/A.</font></p></div> Amortization of intangible plant 881027 849772 881027 849772 1 Change in system balancing gas 9972597 6214510 Change in gas imbalances -9972597 -6214510 Change in fair value of derivative contracts 1156377 -1067937 Change in park and loan service revenue deferrals -1957185 -3725115 Net (gain)/loss on disposition of property -1265 Change in other assets and liabilities 2738093 1641733 1937285 -3152584 1 2 3 4 5 6 Net salvage/(cost of removal) 16771610 16164252 Change in preliminary survey and investigation charges 691568 Change in customer advances for construction 1320243 -12664761 18783421 3499491 1 2 3 Distributions to Members 275608798 364272014 275608798 364272014 1 NA NA NA NA NA NA NA NA NA NA NA NA Not Prepared 990000 57535014 58525014 1305000 19090501 20395501 18588601 18588601 7261435 7261435 2834388 2834388 3022486 3022486 930000 7323012 8253012 1007500 9357258 10364758 4027883 4027883 1472500 2433080 3905580 510000 14775083 15285083 3658000 35708987 39366987 9873000 181957728 191830728 1127779 4286872 5414651 1174177 13677130 14851307 1166513 18906545 20073058 753949 15699201 16453150 1292679 21570684 22863363 583048 17847679 18430727 1282551 15251105 16533656 1025339 17981015 19006354 696601 20118878 20815479 734137 17805334 18539471 1067630 4489542 5557172 1005692 5932561 6938253 11910095 173566546 185476641 Income Tax Gross-up on AFUDC Equity Remaining life of assets Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes) 7367990 912556 407.3 690564 7589982 FERC Annual Charge Adjustment 12 months ending September 30 18 CFR 154.402(a) and 18 CFR 382.202 2193452 3128238 928 2975512 2346178 4040794 3666076 1 2 Gas Imbalances 23834877 Labor Accrual 665000 Minor Items (less than $250,000) 50470 1 2 3 Unbilled Revenue 4928616 812722 142 2351916 3389422 Facility Reimbursable Projects Through October 2028 16340284 142 1802012 14538272 1442833 1912221 812722 4153928 1 2 Rate Schedule NSS 1986652 7613251 7613251 4693737 7618572 7618572 22911472 7600228 7600228 Rate Schedule DSS 446428 10081346 12797515 Fuel Recovery 326456 326456 64722 64722 138980 138980 Estimates 9017 9017 264921 264921 -76797 -76797 2433080 7948724 7948724 14775083 7948215 7948215 35708987 7662411 7662411 1 2 3 4 Account 489.2, Revenues from transportation of gas of others through transmission facilities. 132806370 245432089 447139567 1521757790 Account 489.4, Revenues from storing gas of others. 9643090 6988377 52535622 81265085 142449460 252420466 499675189 1603022875 1 2 1472500 4797251 4797251 510000 -737401 -737401 3658000 12333670 12333670 214189073 263773 66747109 67010882 211601754 272668 73859824 74132492 223912728 318644 78133624 78452268 14856 14856 32 32 147451 147451 102129 102129 82867 82867 108294 108294 116985 116985 82899 82899 255745 255745 218094653 263773 79610069 79873842 226886837 272668 81153537 81426205 263279715 318644 98385450 98704094 5224341320 5224341320 5224341320 5224341320 80322218 5304663538 3174478298 2130185240 3168243885 3168243885 6234413 6234413 3174478298 3174478298 881027 881027 24148968 24148968 84225860 84225860 3712678 3712678 112087506 881027 112968533 See Footnote 1 Rate Schedule FTS 209154454 258994 49983868 50242862 194808473 249031 56879870 57128901 204173265 267092 57219142 57486234 Rate Schedule FTS-G 42891 60 14903 14963 112854 158 44267 44425 230201 322 91763 92085 Rate Schedule ITS 4313744 4342 508868 513210 6601537 8185 871616 879801 6711747 8626 863507 872133 Rate Schedule DSS 677984 949 6298758 6299707 10078890 14110 6298831 6312941 12797515 17917 6301172 6319089 Rate Schedule IBS 579483 579483 784677 784677 604918 604918 Rate Schedule LPS 6602462 6602462 4546064 4546064 3061044 3061044 POA Agreements 6999 6999 7128 7128 5198 5198 Fuel Recovery 4995399 4995399 3974520 3974520 6898122 6898122 Estimates -572 -2720012 -2720584 1184 -23530 -22346 24687 2612372 2637059 Commission Approved Capacity Lease Revenue 476381 476381 476381 476381 476386 476386 1 2 3 4 5 6 7 8 9 10 Horizon Pipeline Company, L.L.C. true 380,000 dekatherms per day (Dth/day) leased capacity in 42 miles of transmission pipeline located near Joliet, Illinois. 4161000 Kinder Morgan Illinois Pipeline LLC true 200,000 Dth/day leased capacity in 25.7 miles of transmission pipeline located in Illinois. Provides natural gas transmission services from near Beecher, Illinois to near Burnham, Illinois. 729996 Kinder Morgan Louisiana Pipeline LLC true 200,000 Dth/day leased capacity in 19 miles of transmission pipeline located in Cameron Parish, Louisiana. 825581 5716577 1 2 3 13095 13095 13563798 24346 13588144 13576893 24346 13601239 7958 7958 16411 16411 315118 315118 264487 264487 603974 603974 603974 603974 603974 603974 324459 324459 5181213 5181213 28429237 581356 88946 -189325 28732322 276743465 4352138 530532 280565071 32397789 32397789 21727307 21727307 80531137 80531137 195585610 8874533 1129667 98376 203428852 259106241 9378391 1809362 553448 267228718 42695292 121433 12478 385048 43189295 66393966 5774655 897069 71271552 14899815 10139 3299 14906655 1024015531 29092645 4471353 847547 1049484370 1024015531 29092645 4471353 847547 1049484370 7138450 151 7138299 50348242 50348242 79470570 739824 101369 6456 80115481 2419287402 59485137 10869327 -98376 2467804836 1304158255 92046650 10742782 -559903 1384902220 123794387 3105992 2442848 -195724 124261807 2829530 31120 2860650 135022 47916 182938 3987161858 155456639 24156477 -847547 4117614473 686179 686179 635235 635235 16734021 65374 1253972 15545423 15351477 2100677 1291341 16160813 6565377 1517896 576092 7507181 280036 9230 9320 279946 146704 146704 1490454 99255 15797 1573912 505722 3851 501871 42395205 3792432 3150373 43037264 42395205 3792432 3150373 43037264 5067753461 188366062 31778203 5224341320 5067753461 188366062 31778203 5224341320 1 Horizon Pipeline Company, L.L.C. Capital Contribution 2002-05-30 8084531 8084531 Retained Earnings 310597 6025 316622 Subtotal 8395128 6025 8401153 8084531 1 2 11 13 1 1 3709591 Capitalized Interest - Tax 6973633 Capitalized Overhead - Tax 30205940 Contribution in Aid of Construction 1217129 Partnership Income 42106293 87925744 Federal Income Tax 1744890 State Deferred Income Tax 112968533 Book Depreciation and Amortization 10395 Lobbying and Contributions 212360 Entertainment and Other 1993 Penalties 822526 Deferred Revenue 4794 UNICAP 263A 16391 Operations Reserve - LT Liability 1356645 Bonus Accrual 1612910 Property Tax Adjustment 1156377 Hedging 207833558 1152301 AFUDC Debt - Book Capitalized Interest 12606234 Capitalized Overhead - Book 24391 Bad Debt 30000 Amortization of Investment Tax Credit 23106 Lease Payable 3094058 AFUDC Equity - Book Capitalized Amount 1957185 Park and Loan Deferral 18887275 68858921 Tax Depreciation and Amortization 97582637 Repairs Deduction 17826608 Cost of Removal 184268166 413331695 86799656 21% of Taxable Income 327449 Return to Provision/Other 87127105 Federal Income Tax - Current 5 6 7 8 11 12 13 14 15 16 17 18 19 20 21 22 25 26 27 28 29 30 31 34 35 36 40 41 42 43 44 45 317500215 10095897 692837 328288949 317500215 10095897 692837 328288949 10095897 692837 276519609 8660273 603134 285783016 40980606 1435624 89703 42505933 37682317 2532399 12389 35137529 37682317 2532399 12389 35137529 2532399 12389 32818553 2219750 10786 30588017 4863764 312649 1603 4549512 7757523 461933 293612 7001978 7757523 461933 293612 7001978 461933 293612 6756233 405259 255597 6095377 1001290 56674 38015 906601 1 Zone 1 - Permian OBA 12359072 848579 18048292 1239206 Zone 2 - Midcontinent/OBA 4652787 319463 13036857 895118 Zone 3 - Texok/OBA 30673471 2106058 25430258 1746056 Zone 4 - South Texas/OBA 3442398 236357 15309442 1051155 Zone 5 - Louisiana/OBA 5638637 387152 685168 47044 Zone 7 - Amarillo Mainline/OBA 7091144 486882 2953354 202779 Zone 8 - Gulf Coast Mainline/OBA 2502062 171793 1557983 106972 Zone 9 - Iowa-Illinois/OBA 6758202 464022 9926979 681592 Zone 7 - Amarillo Mainline/POA 1227721 84296 237356 16297 Zone 8 - Gulf Coast Mainline/POA 1268763 87114 Zone 9 - Iowa-Illinois/POA 6775752 465227 8180081 561649 Zone 2 - MidContinent /IBS 59685 4098 61899 4250 Zone 3 - TEXOK /IBS 3193084 219239 986010 67700 Zone 7 - Amarillo Mainline /IBS 381063 26164 358066 24585 Zone 8 - Gulf Coast Mainline /IBS 154863 10633 174452 11978 Zone 9 - Iowa-Illinois /IBS 1202845 82588 407949 28010 Netting Difference - Annual vs. Quarterly -2691796 -2691796 87381549 3307869 97354146 3992595 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 44984 11615 Shared Service Allocations 2810330 6 Other (less than $250,000) 10395 Other (less than $250,000) -6369 Affiliate of respondent (Market interest rate) 718 1 2 4 5 7 8 10 11 13 14 16 17 19 20 22 23 2610632 Health and life insurance 8648564 Long-term disability insurance 195706 401K Employer contributions 3236201 Other 172823 6 7 8 9 7060838 7060838 35908832 35908832 22936898 22936898 65906568 65906568 4958501 4958501 16080924 16080924 21039425 21039425 12019339 12019339 51989756 51989756 22936898 22936898 86945993 86945993 86945993 86945993 2000341 2000341 2000341 2000341 479226 479226 479226 479226 Account 186 532363 532363 532363 532363 89957923 89957923 74 3B Inspection LLC 671565 Abrams Technical Services Inc 534172 Acuren Inspection Inc 285312 Allied Valve Inc 374077 Ameren Illinois 366000 Ark Engineering & Technical 256086 Audubon Engineering Company LP 301318 Baish Excavating Inc 254131 Bannister Electric 573588 Bidell Gas Compression Inc 1137700 Bowen Industrial Contractors 533901 Brookhart Electric Inc 444971 BWS Services LLC 2849084 Castle Energy Group LLC 4939813 Coby Construction 501840 Cooper Machinery Services LLC 1960206 Davies Construction LLC 300171 Dean Equipment Inc 648409 DeLasCasas CP LLC 453412 Duphil Inc 4628205 Edgen Murray Corporation 323184 Enerflex Energy Systems Inc 1233590 Environmental Maintenance 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Primoris Services Corporation 280483 PSI 368827 QOR Industrial Services LLC 673902 Quality Integrated Services 485452 R & R Pipeline Construction 1307595 Ransaball LLC 596094 Reserve Compression Corp 292367 RT Technical Solutions 509353 Sapphire Gas Solutions LLC 416009 Seismic Exchange Inc 691568 Solar Turbines Incorporated 10448222 Star Measurement 517713 State Group Industrial (USA) 339336 SWCA Environmental Consultants 418122 TAF Aerial Services LLC 279954 The Hilliard Corporation 314362 Trendsetter Construction Inc 1387579 Ultimate CNG LLC 284880 United Piping Inc 8840184 UPS Midstream Services LLC 2063151 Weldfit LLC 581515 West Continent Energy Services 4823426 West States Energy Contractors 461077 Western Industrial Resources 1757126 Western Utility LLC 265164 WHC LLC 2335902 Zerrco Industries LLC 280815 Other (less Than $250,000) 23100361 146906312 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 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 Arkansas AR Fully Owned and Operated by Respondent 913.8 Iowa IA Fully Owned and Operated by Respondent 850.1 Illinois IL Fully Owned and Operated by Respondent 2404.5 Indiana IN Fully Owned and Operated by Respondent 16.8 Kansas KS Fully Owned and Operated by Respondent 688.0 Louisiana LA Fully Owned and Operated by Respondent 189.7 Missouri MO Fully Owned and Operated by Respondent 297.6 Nebraska NE Fully Owned and Operated by Respondent 250.5 New Mexico NM Fully Owned and Operated by Respondent 253.5 Oklahoma OK Fully Owned and Operated by Respondent 758.3 Texas TX Fully Owned and Operated by Respondent 2403.4 9026.2 9026.2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 FERC Form 2 NGPL System Map 2025.pdf 3105842720 3105842720 112087506 112087506 112087506 112087506 31778203 31778203 18005213 18005213 89304 89304 49694112 49694112 Intercompany Transfer of Accumulated Depreciation -4437 -4437 Retirement Adjustment -3334 -3334 3168243885 3168243885 603974 603974 613380492 613380492 2541819020 2541819020 12440399 12440399 16 16 16 NSS 90001929 86336111 90001929 86336111 118173758 105317155 DSS 63783970 58234402 Fuel Recovery 2916640 2501111 2916640 2501111 Estimates 1081 1294413 1081 1294413 Total 92919650 90131635 92919650 90131635 181957728 163551557 1 2 3 4 5 Cashouts 962980 Other items less than $250,000 (2 items) 50528 1013508 12 13 Federal Income Tax Federal Tax Federal 87127105 87127105 85818227 1308878 Subtotal Federal Tax 87127105 87127105 85818227 1308878 State Income Tax - Arkansas State Tax Arkansas 1660512 1660512 1641595 18917 0.0038 State Income Tax - Illinois State Tax Illinois 8927954 8927954 8826245 101709 0.0207 State Income Tax - Iowa State Tax Iowa 3118323 3118323 3082798 35525 0.0072 State Income Tax - Kansas State Tax Kansas 503945 503945 498204 5741 0.0012 State Income Tax - Louisiana State Tax Louisiana 621503 621503 614423 7080 0.0014 State Income Tax - Missouri State Tax Missouri 491411 491411 485813 5598 0.0011 State Income Tax - Nebraska State Tax Nebraska 579580 579580 572977 6603 0.0013 State Income Tax - New Mexico State Tax New Mexico 205727 205727 203383 2344 0.0005 State Income Tax - Oklahoma State Tax Oklahoma 978933 978933 967781 11152 0.0023 Texas Margin Tax State Tax Texas 2024 225000 225000 225000 Subtotal State Tax 17312888 17312888 17118219 194669 Ad Valorem Tax - Arkansas Ad Valorem Tax Arkansas 2023 1488000 19202 1507202 19202 Ad Valorem Tax - Arkansas Ad Valorem Tax Arkansas 2024 1684000 1684000 1684000 Ad Valorem Tax - Illinois Ad Valorem Tax Illinois 2023 1417000 -280 1319720 97000 -280 Ad Valorem Tax - Illinois Ad Valorem Tax Illinois 2024 1459000 1459000 1459000 Ad Valorem Tax - Indiana Ad Valorem Tax Indiana 2023 6000 3503 9503 3503 Ad Valorem Tax - Indiana Ad Valorem Tax Indiana 2024 6000 6000 6000 Ad Valorem Tax - Iowa Ad Valorem Tax Iowa 2023 11297560 7779392 3518168 Ad Valorem Tax - Iowa Ad Valorem Tax Iowa 2024 8816961 8816961 8816961 Ad Valorem Tax - Kansas Ad Valorem Tax Kansas 2023 3198765 1385 3200150 1385 Ad Valorem Tax - Kansas Ad Valorem Tax Kansas 2024 6938285 3469241 3469044 6938285 Ad Valorem Tax - Louisiana Ad Valorem Tax Louisiana 2023 Ad Valorem Tax - Louisiana Ad Valorem Tax Louisiana 2024 3661368 3661368 3661368 Ad Valorem Tax - Missouri Ad Valorem Tax Missouri 2024 864830 864830 864830 Ad Valorem Tax - Nebraska Ad Valorem Tax Nebraska 2023 425000 -51395 373605 -51395 Ad Valorem Tax - Nebraska Ad Valorem Tax Nebraska 2024 401000 401000 401000 Ad Valorem Tax - New Mexico Ad Valorem Tax New Mexico 2023 83031 83031 Ad Valorem Tax - New Mexico Ad Valorem Tax New Mexico 2024 168866 85275 83591 168866 Ad Valorem Tax - Oklahoma Ad Valorem Tax Oklahoma 2023 1838282 1838282 Ad Valorem Tax - Oklahoma Ad Valorem Tax Oklahoma 2024 3976559 1988576 1987983 3976559 Ad Valorem Tax - Texas Ad Valorem Tax Texas 2023 8374453 -1273979 6652514 447960 -1273979 Ad Valorem Tax - Texas Ad Valorem Tax Texas 2024 8134142 1261460 6872682 8134142 Ad Valorem Tax - Wisconsin Ad Valorem Tax Wisconsin 2024 3387 3387 3387 Ad Valorem Tax - Wyoming Ad Valorem Tax Wyoming 2024 76 76 76 Subtotal Ad Valorem Tax 28128091 34812910 34097612 28843389 34812910 Use Tax - Arkansas Sales And Use Tax Arkansas 2024 68649 68649 3704 64945 Use Tax - Colorado Sales And Use Tax Colorado 2024 14 14 Use Tax - Illinois Sales And Use Tax Illinois 2024 302757 302757 1642 301115 Use Tax - Iowa Sales And Use Tax Iowa 2024 122786 122786 122786 Use Tax - Kansas Sales And Use Tax Kansas 2024 121409 121409 352 121057 Use Tax - Louisiana Sales And Use Tax Louisiana 2024 4523 67843 69552 2814 45106 22737 Use Tax - Missouri Sales And Use Tax Missouri 2024 668 6974 4672 2970 6974 Use Tax - Nebraska Sales And Use Tax Nebraska 2024 32849 32849 32849 Use Tax - New Mexico Sales And Use Tax New Mexico 2024 53094 53094 53094 Use Tax - Oklahoma Sales And Use Tax Oklahoma 2024 -3541 29371 26764 -934 3428 25943 Use Tax - Texas Sales And Use Tax Texas 2024 -1 717013 717012 600 716413 Subtotal Sales And Use Tax 1663 1522745 1519544 4864 54832 1467913 Payroll - FICA Tax Payroll Tax Federal 2024 5789535 5789535 5789535 Payroll - Unemployment Tax Payroll Tax Federal 2024 173906 173906 173906 Subtotal Payroll Tax 5963441 5963441 5963441 Miscellaneous Tax, Licenses and Fees Miscellaneous Other Tax Various 2024 121 121 121 Subtotal Miscellaneous Other Tax 121 121 121 146739210 146020711 143767750 1503547 1467913 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 254166448 11687916 22946642 34634558 21660513 19118612 40779125 248021880 185786670 752661 22652022 209191352 0.9671 2.5671 2.9322 1.1856 1 1 2 3 5 6 251664 1332589 737029 2321282 541581 2867732 1586086 4995399 805 489.2 16286 89932 45481 151699 35047 193534 97875 326456 805 489.4 267950 1422521 782510 2472981 576628 3061266 1683961 5321855 133798 708475 391844 1234117 287933 1524639 843248 2655820 854 810 11621 64174 32454 108249 25008 138103 69841 232952 819 810 145419 772649 424298 1342366 312941 1662742 913089 2888772 8235 43606 24118 75959 17722 93840 51902 163464 856/863 812 35 195 99 329 75 420 213 708 817/821 812 8270 43801 24217 76288 17797 94260 52115 164172 32752 173424 95918 302094 70482 373208 206416 650106 813 812 32752 173424 95918 302094 70482 373208 206416 650106 76879 407084 225149 709112 165444 876045 484520 1526009 4630 25563 12928 43121 9964 55011 27821 92796 81509 432647 238077 752233 175408 931056 512341 1618805 81509 432647 238077 752233 175408 931056 512341 1618805 164.1 808.2 Other dispositions 81509 432647 238077 752233 175408 931056 512341 1618805 Gas due from shippers 551716426 40987788 592704214 16 16 314358 1346280 678691 2339329 534094 2287330 1153096 3974520 805 489.2 4405 21417 12272 38094 7484 36387 20850 64721 805 489.4 318763 1367697 690963 2377423 541578 2323717 1173946 4039241 138434 592862 298875 1030171 235199 1007273 507789 1750261 854 810 7940 38606 22121 68667 13490 65591 37584 116665 819 810 146374 631468 320996 1098838 248689 1072864 545373 1866926 9876 42293 21321 73490 16779 71856 36224 124859 856/863 812 743 3614 2070 6427 1262 6140 3517 10919 817/821 812 10619 45907 23391 79917 18041 77996 39741 135778 17181 73578 37092 127851 29191 125009 63019 217219 813 812 17181 73578 37092 127851 29191 125009 63019 217219 148867 637547 321403 1107817 252925 1083192 546064 1882181 -4278 -20803 -11919 -37000 -7268 -35344 -20251 -62863 144589 616744 309484 1070817 245657 1047848 525813 1819318 144589 616744 309484 1070817 245657 1047848 525813 1819318 164.1 808.2 Other dispositions 144589 616744 309484 1070817 245657 1047848 525813 1819318 Gas due from shippers 310681 1451611 740655 2502947 856237 4000640 2041245 6898122 805 489.2 7657 22569 20202 50428 21103 62200 55677 138980 805 489.4 318338 1474180 760857 2553375 877340 4062840 2096922 7037102 185879 868494 443131 1497504 512283 2393569 1221269 4127121 854 810 18641 54945 49183 122769 51375 151428 135548 338351 819 810 204520 923439 492314 1620273 563658 2544997 1356817 4465472 10400 48592 24793 83785 28662 133919 68330 230911 856/863 812 2435 7179 6425 16039 6711 19786 17707 44204 817/821 812 12835 55771 31218 99824 35373 153705 86037 275115 1791 8368 4269 14428 4936 23063 11765 39764 813 812 1791 8368 4269 14428 4936 23063 11765 39764 112611 526157 268462 907230 310356 1450089 739881 2500326 -13419 -39555 -35406 -88380 -36983 -109014 -97578 -243575 99192 486602 233056 818850 273373 1341075 642303 2256751 99192 486602 233056 818850 273373 1341075 642303 2256751 164.1 808.2 Other dispositions 99192 486602 233056 818850 273373 1341075 642303 2256751 Gas due from shippers 2025-01-20 1332964 1332964 1468585 5358839 6827424 248335 140811 389146 Other (HCAP) 193909 193909 Other (KCAP) 19671 19671 1930500 6832614 8763114 382313 382313 3074860 3074860 3457173 3457173 178860 677207 856067 Other (OBA) -108206 -53315 -161521 Other (TPBA) -11699 11699 Other (POA) 8193 8193 Other (IBS) 68192 68192 Other (LPS) 4822 6214 11036 63777 718190 781967 2025-01-19 3888798 3888798 4186388 15835626 20022014 765752 248830 1014582 Other (HCAP) 553357 553357 Other (KCAP) 59013 59013 5564510 19973254 25537764 1037583 1037583 8963802 8963802 10001385 10001385 417947 1613320 2031267 Other (OBA) -305468 16500 -288968 Other (TPBA) -66967 66967 Other (POA) 21689 21689 Other (IBS) 29167 29167 Other (LPS) 19217 8587 27804 64729 1756230 1820959 Louisiana - FTS 586879 646546 101326975 116815313 101913854 117461859 419779558 439451963 Louisiana - ITS 2661 1928 348587 220017 351248 221945 1936709 1333284 Louisiana 589540 648474 101675562 117035330 102265102 117683804 421716267 440785247 Market - DSS 92056 100351 75661805 77739849 75753861 77840200 65753507 68407149 Market - FFTS 33360 11610 33360 11610 Market - FTS 1213514 1320432 279983478 285298305 281196992 286618737 923129426 977287570 Market - FTSG 1556 1632 462388 464444 463944 466076 1110560 1110305 Market - ITS 14483 15428 2110919 1960430 2125402 1975858 10448708 11258045 Market - IBS 4630879 3919420 4630879 3919420 Market - LPS 45852466 38232184 45852466 38232184 Market - POA 96252 88637 96252 88637 Market 1321609 1437843 408831547 407714879 410153156 409152722 1000442201 1058063069 Midcontinent - FTS 43598 57660 32905713 34477151 32949311 34534811 142068818 131156013 Midcontinent - FTSG 144 165 24498 27573 24642 27738 103051 112336 Midcontinent - ITS 3927 2223 509277 259304 513204 261527 9264109 10539139 Midcontinent - IBS 33319 16134 33319 16134 Midcontinent 47669 60048 33472807 34780162 33520476 34840210 151435978 141807488 Permian - FTS 195707 189256 22786609 24792405 22982316 24981661 139791020 128525385 Permian - ITS 5845 4834 780115 495835 785960 500669 4190109 3259880 Permian 201552 194090 23566724 25288240 23768276 25482330 143981129 131785265 South Texas - FTS 411079 449233 122513128 120812999 122924207 121262232 295016226 306238240 South Texas - FTSG 33 33 6563 6328 6596 6361 23864 22270 South Texas - ITS 9468 9213 1061472 1002501 1070940 1011714 6957956 6764410 Texas 420580 458479 123581163 121821828 124001743 122280307 301998046 313024920 TexOK - FTS 544176 479049 62476928 62824654 63021104 63303703 469731462 367575506 TexOK - FTSG 35 29 5998 4493 6033 4522 25022 19476 TexOK - ITS 41582 16846 4489378 2174971 4530960 2191817 38009054 24380605 TexOK - IBS 3184228 2900638 3184228 2900638 TexOK 585793 495924 70156532 67904756 70742325 68400680 507765538 391975587 Other - Estimates 10080 9515 2284452 3586641 2294532 3596156 Other - Fuel Recovery 57371686 69878897 57371686 69878897 Other - Commission Approved Capacity Lease Revenue 5716577 5716572 5716577 5716572 Other 10080 9515 65372715 79182110 65382795 79191625 3176823 3304373 826657050 853727305 829833873 857031678 2527339159 2477441576 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 30057666 32265591 30057666 32265591 9873000 10850000 92919650 90131635 92919650 90131635 181957728 163551557 436886 296784 436886 296784 478057 223579 478057 223579 1013508 1416653 1013508 1416653 3176823 3304373 951562817 978061547 954739640 981365920 3176823 3304373 951562817 978061547 Horizon Pipeline Company, L.L.C. true 557723 14853076 14853076 1 Labor accrual 3210205 1326644 4536849 Environmental reserve 267127 267127 Park and loan deferral 2786292 489.2 16619580 14662395 829107 Lease payable 252432 Various 23106 229326 Transportation revenue deferral 3547936 489.2 746934 2801002 Other, less than $250,000 16391 16391 17389620 16005430 1 2 3 4 5 6 Federal Energy Regulatory Commission 2023 Annual Charge Adjustment (Amortized over twelve months) 2924604 2924604 2193452 182.3 2193452 Federal Energy Regulatory Commission 2024 Annual Charge Adjustment (Amortized over twelve months) 3128238 3128238 3128238 182.3 782060 2346178 Federal Energy Regulatory Commission Miscellaneous Certificate Proceedings and Miscellaneous Expenses 2877 2877 2877 232 2877 6052842 2877 6055719 2193452 3131115 2978389 2346178 1 2 3 Matthew J. Wojtalewicz Vice President and Controller 1001 Louisiana Street, Suite 1000, Houston, TX 77002 true false Organized as a corporation in 1930. Converted to a Delaware limited liability company on February 15, 2008. During the year, respondent was engaged in transmission and storage of natural gas through an integrated system in the following states. Transmission: Arkansas, Illinois, Indiana, Iowa, Kansas, Louisiana, Missouri, Nebraska, New Mexico, Oklahoma, Texas, and Wisconsin. Storage: Illinois, Iowa, Oklahoma, and Texas false 112087506 109579415 2543529 -7983787 -30000 -30000 -2158739 -20953492 7675953 4793197 -50700 -1717 374718 356324 -18013 -233716 4024367 2333571 6025 169043 473975595 502052855 200007237 120281217 4024367 2333571 214766291 121447137 20828 39172 -214745463 -121407965 -275608798 -364272014 -16378666 16372876 18551130 2178254 2172464 <div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">1. Construction Overhead</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">(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&#160;</font><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">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-family: arial, helvetica, sans-serif; font-size: 18pt;">(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-family: arial, helvetica, sans-serif; font-size: 18pt;">(c) Costs are accumulated in a blanket overhead project and distributed monthly to individual construction projects.</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">(d) Different overhead rates are applied based on the nature of the construction project.</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">(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-family: arial, helvetica, sans-serif; font-size: 18pt;">(f) Overheads are directly assigned to each project.</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">2. Allowance for Funds Used During Construction</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">Allowance for funds used during construction is calculated below.</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">3. Net-of-Tax rate for borrowed funds</font></p> <p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">Not Applicable</font></p></div> 1892186332 Natural Gas Pipeline Company of America LLC 1.0000 0.1217 1892186332 1.0000 47364673 0.1217 0.0250 0.0615 See Footnote 2 5 8 11 Gas Loss and Unaccounted for 5551322 Gas Pipeline Rupture 116458 Hedge Broker Fees 18607 1 2 3 Natural Gas Pipeline Company of America LLC 2527339159 649703555 181957728 52917150 3307869 14853076 2402856 9873000 5640500 19437403 4744241 11156733 2659538 POA Cashouts 465443 184947 Transportation Cashouts 683948 149603 System Gas - Imbalances 5054981 2497269 Line Pack 2284275 306250 System Gas - Line Pack -2284275 -306250 System Gas - Net LPS -516219 -2500827 OBA Imbalance Cashouts 626 2773613747 718398832 9873000 5640500 2527339159 649703555 181957728 52917150 3992595 5668 14853076 2402856 11910095 2807459 15231357 4061477 Net LPS -516219 -2500827 Other Uses of Fuel Gas 913270 256029 Line Pack 2494957 923773 System Gas Line Pack -2494957 -923773 POA Cashouts 95913 20196 System Gas Imbalances 4370255 2491601 Transportation Cashouts 420914 129657 Gas Used in Construction Projects 94044 19138 Other Losses due to Rupture 87760 2770622947 717954459 2990800 444373 2773613747 718398832 16 17 18 19 20 21 22 37 38 39 40 41 42 43 44 45 Deferred Income Tax Rate Adjustment (amortized through June 2038) 145098183 411.1 10034448 135063735 Order 637 Penalty Revenues 483627 Various 1513364 1495351 465614 11547812 1495351 1 2 819, 854 15231357 812 Gas Used for Other Utility Operations - Credit Construction Projects 107 93891 165664 Reimbursable Projects 186 153 203 Other -Uses of Gas - LAUF and Ruptures 813 3078560 5667780 Other -Uses of Gas - Storage. Mains 817 37606 75326 Other -Uses of Gas - DEHY Fuel 821 28106 59832 Other - Operations- Storage Projects 833 72 139 Other -Uses of Gas - Transm. Mains 856 794957 1857267 Other - Operations- Transm. Projects 863 52529 94431 19317231 5 6 7 8 9 10 11 12 13 -1647613 -1647613 389724115 -1647613 366547285 -1647613 233879868 323612400 557492268 649246828 488 303 3446264 2024-01-16 1049160 0.0232 4103952 0.00 42351 0.00 Intangible Plant (footnote details) 13588 0.00 Other Gas Storage (footnote details) 9 10 Cairo Field - Iowa Underground Storage 345050 165105406 true Columbus City Field - Iowa Underground Storage 180250 72471355 true Keota Field - Iowa Underground Storage 103000 27258792 true Herscher Field - Illinois Underground Storage 1318400 261037908 true Cooks Mills Field - Illinois Underground Storage 154500 22780768 true Loudon Field - Illinois Underground Storage 525300 123089115 true North Lansing Field - Texas Underground Storage 1277200 254060559 true Sayre Field - Oklahoma Underground Storage 687010 120293557 true 1 2 3 4 5 6 7 8 Gulf Coast Storage Expansion 884055 95987294 Texas Louisiana Expansion 3416400 68565453 Texas Louisiana Pipeline Replacement 940298 23874268 Emissions Reduction Projects 25076286 10965880 Delaware Basin North Expansion 4518941 29981059 Pipeline Replacements 11518441 2199530 Compressor Overhauls, Turbochargers and Components 6018215 5103991 Permian North Expansion 6135990 2342184 Make Lines Piggable 5821056 2104655 Cathodic Protection Systems and Groundbeds 3208005 87936 Storage Wellhead and Liner projects 1905734 364224 Pipeline Valve Replacements 2140079 81900 Compressor Control Projects 2154911 61347 Meter Upgrades Projects 1579179 6550 Flare Stack Projects 1238183 12359 Compressor Valve Replacements 1179560 49684 Miscellaneous Construction Projects Under $1,000,000 2586885 511488 242299802 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 <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; -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 Delaware Limited Liability Company (LLC), originally organized as a corporation in 1930 and converted to an LLC on February 15, 2008. When we refer to "us," "we," "our," "the Company," or &#8220;Natural&#8221; we are describing Natural Gas Pipeline Company of America LLC.</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 an indirect wholly owned subsidiary of NGPL Holdings LLC (NGPL Holdings), which is indirectly owned 37.5%, 37.5% and 25.0% by Kinder Morgan, Inc. (KMI), funds managed by ArcLight Capital Partners, LLC (ArcLight), and Brookfield Infrastructure Partners L.P. (BIP), respectively. KMI operates our assets pursuant to a 15-year amended Operations and Reimbursement Agreement (Operating Agreement) that expires in December 2030.</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 own a major interstate natural gas pipeline transmission and storage system which includes approximately 9,000 miles of natural gas pipeline. The system consists primarily of two major interconnected transmission pipelines traversing between the U.S. Gulf Coast and the Chicago, Illinois metropolitan area. Our Amarillo Line connects the West Texas and New Mexico producing areas in the South and Chicago in the North and our Gulf Coast Line connects the Gulf Coast areas of Texas and Louisiana in the South and Chicago in the North. These two main pipelines are connected at points in Texas and Oklahoma by the Amarillo/Gulf Coast cross haul pipeline.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><em><font style="font-family: Arial;">Subsequent Event&#160;</font></em></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><em><font style="font-family: Arial;">&#160;</font></em>&#160;</p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On March 21, 2025, BIP announced it will sell its entire minority interest to&#160;ArcLight. Upon closing,&#160;ArcLight&#160;and KMI will hold a 62.5% and 37.5% interest in NGPL Holdings, respectively, and KMI will continue to be our operator.&#160; The transaction is expected to close in the second quarter of 2025.</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;">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; -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, and (iii) 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&#160; April 10</font><font style="font-family: Arial;">, 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; 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;">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 and Restricted Deposits</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;">Amounts included in Account 134 "Other Special Deposits" on our balance sheets represent cash margin deposits posted by us with our counterparties associated with certain energy commodity contract positions.</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;">Allowance for Credit Losses</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;">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 are recorded in Account 144 &#8220;Accumulated Provision for Uncollectible Accounts &#8211; Credit.&#8221;</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;">Materials and Supplies Inventories</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;">Our materials and supplies inventories 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;">Gas in Underground Storage</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 accordance with our transportation tariffs, we collect natural gas in-kind from shippers on our systems. Certain of this gas is used by us as fuel in our operations. Fuel collected in excess of our operational needs typically is either sold by us or injected into storage for sale at a later date. Consequently, in the normal course of business, we both sell natural gas and maintain natural gas inventories. The excess fuel gas that we take title to under our transportation tariffs is recorded in the accompanying balance sheets. We receive fees from our storage service customers but do not reflect the value of their gas stored in our facilities in our balance sheets. Our natural gas storage inventories are accounted for using the last-in, first-out inventory method.</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 natural gas in underground storage as part of our inventory, which is recorded in Account 164.1 "Gas Stored Underground-Current." This component of our inventory represents the portion of gas stored in an underground storage facility generally known as working gas, and represents an estimate of the portion of gas in these facilities available for routine injection and withdrawal to meet current demand. In addition to this working gas, underground gas storage reservoirs contain injected gas, which is not routinely cycled but, instead, serves the function of maintaining the necessary pressure to allow efficient operation of the facility. This gas, generally known as cushion gas, is recorded in Account 117.1 "Gas Stored-Base Gas."</font><font style="font-family: Arial;"> &#160;</font><font style="font-family: Arial;"> &#160;</font><font style="font-family: Arial;">Gas delivered from or received by the pipeline related to in-kind imbalance activity is recorded in Account 117.2 &#8220;System Balancing Gas&#8221; and is valued at weighted average cost.</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 our shippers and operators at the weighted average cost. 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; 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;">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;">As discussed above, underground gas storage reservoirs contain cushion gas, which is not routinely cycled but, instead, serves the function of maintaining the necessary pressure to allow efficient operation of the facility. Cushion gas is divided into the categories of recoverable cushion gas and unrecoverable cushion gas, based on an engineering analysis of whether the gas can be economically removed from the storage facility at any point during its life. The portion of cushion gas that is determined to be unrecoverable is considered to be a permanent part of the facility itself and is depreciated over the facility's estimated useful life. The portion of cushion gas that is determined to be recoverable is also considered a component of the facility but is not depreciated because it is expected to ultimately be recovered and sold.</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 the average cost of debt of NGPL PipeCo LLC, our direct parent. 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; 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;">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; 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;">Long-lived 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; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Revenue Recognition</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;">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; 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;">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; font-style: italic;">Natural Gas Transportation and Storage Contracts.</font><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;">Natural Gas Sales Contracts.</font><font style="font-family: Arial;"> Our customer sales contracts are primarily related to natural gas sales and these revenues are generally accounted for on a gross basis with the related cost reported as a part of Operation Expenses on our income statements. Generally, for the majority of these contracts: (i) each unit (dekatherm) of natural gas sold is a separate performance obligation; (ii) the transaction price is determinable each month end based on our right to invoice at month end for the value of natural gas sold to the customer that month; and (iii) the transaction price is allocated to each performance obligation based on the standalone selling price of natural gas sold and the amount recognized as revenue upon delivery of the natural gas, which is the point in time when the customer obtains control of the natural gas and our performance obligation is satisfied. These customer contracts generally provide for the customer to nominate a specified quantity of natural gas to be delivered and sold to the customer at specified delivery points. The customer pays a transaction price typically based on a market or index per-unit rate for the quantities sold.</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;">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 $3 million and $5 million, respectively. Of the contract asset balance at December 31, 2023, $2 million was transferred to accounts receivable during the year ended December 31, 2024. As of December 31, 2024 and 2023, our contract liability balances were $4 million and $6 million, respectively. Of the contract liability balance at December 31, 2023, $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; -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 year ended December 31, 2024, revenues from our two largest customers were approximately $157 million and $105 million, each of which exceeded 10% of our operating revenues. For the year ended December 31, 2023, revenues from our two largest customers were approximately $162 million and $105 million, each of 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;">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 business 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: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We had no accruals for any outstanding legal proceedings 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; 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.</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; -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;">Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters, and other matters to which we 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;">Risk Management 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;">We utilize energy commodity derivative contracts for the purpose of mitigating our risk resulting from fluctuations in the market price of natural gas. We measure our derivative contracts at fair value and we report them on our balance sheets as either an asset or liability. For certain physical forward commodity derivative contracts, we apply the normal purchase/normal sale exception, whereby the revenues and expenses associated with such transactions are recognized during the period when commodities are physically delivered or 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;">For qualifying accounting hedges, we formally document the relationship between the hedging instrument and the hedged item, the risk management objectives and the methods used for assessing and testing effectiveness, and how any ineffectiveness will be measured and recorded. If we designate a derivative contract as a cash flow accounting hedge, the effective portion of the change in fair value of the derivative is deferred in Account 219, "Accumulated Other Comprehensive Income" and reclassified into earnings in the period in which the hedged item affects earnings. Any ineffective portion of the derivative's change in fair value or amount excluded from the assessment of hedge effectiveness is recognized currently in earnings.</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;">For derivative instruments that are not designated as accounting hedges, or for which we have not elected the normal purchase/normal sales exception, changes in fair value are recognized currently in earnings.</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;">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 7 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; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">3. Income Taxes</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;">We are a limited liability company and are not subject to federal or state income taxes; however, all of our activities are included in the tax returns of NGPL Holdings, which is a taxable C-corporation. 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 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. We are amortizing our investment tax credit over 48 years. Income taxes charged to us and assignable to our Members are treated as a capital contribution to or distribution from 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 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 448.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;" rowspan="2"> <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: 386.35pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; 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;">Current:</font></p> </td> <td style="width: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 8.9pt; border-top: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 157.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">87</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -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: 181.35pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom; -aw-border-bottom: 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;">93</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 176.55pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">104</font></p> </td> <td style="width: 200.35pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">111</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 448.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.55pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 175.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.55pt; padding-left: 4.55pt; vertical-align: bottom;" colspan="2"> <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: 200.35pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.55pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred:</font></p> </td> <td style="width: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 176.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(8)</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 157.55pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">107</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 181.35pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">103</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;">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; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 452.7pt; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <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> </td> <td style="width: 402.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 452.7pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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: 174.9pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 219.05pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 453.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 155.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">99</font></p> </td> <td style="width: 28.5pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 180.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">104</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 453.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 174.9pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">16</font></p> </td> <td style="width: 219.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 453.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 174.9pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">(8)</font></p> </td> <td style="width: 219.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(8)</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 453.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 155.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">107</font></p> </td> <td style="width: 28.5pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 180.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">103</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 453.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Effective tax rate</font></p> </td> <td style="width: 174.9pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22.6%</font></p> </td> <td style="width: 219.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21.0%</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;">The following are the components of our net deferred tax liability (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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 448.35pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; 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: 390.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 448.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; 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: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax liabilities:</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; 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-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -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: 162.05pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom; -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;">328</font></p> </td> <td style="width: 12.1pt; border-top: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -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: 178.15pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom; -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;">318</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">8</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax liabilities</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">335</font></p> </td> <td style="width: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">326</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <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: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax assets:</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liability</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">35</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax assets</font></p> </td> <td style="width: 181.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">35</font></p> </td> <td style="width: 200.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2"> <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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 449pt; border-top: 0.75pt dashed #bbbbbb; 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; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Net deferred tax liability</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 162.05pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p> </td> <td style="width: 12.1pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.68pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 178.15pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">288</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; 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; 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;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 349.4pt; 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="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 169.55pt; 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: 280.75pt; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 349.4pt; 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="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 169.55pt; 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: 126.55pt; 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: 143.4pt; 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: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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;">2.1 - 10.0</font></p> </td> <td style="width: 8.9pt; 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: 106.85pt; 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;">5,163</font></p> </td> <td style="width: 8.9pt; 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: 123.7pt; 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;">5,007</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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: 8.9pt; border-top: 0.75pt 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 106.85pt; border-top: 0.75pt 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;">42</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.7pt; border-top: 0.75pt 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;">42</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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;">Production plant</font></p> </td> <td style="width: 170.25pt; 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;">2.65</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 106.85pt; border-top: 0.75pt 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;">1</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.7pt; border-top: 0.75pt 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;">1</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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 - 7.5</font></p> </td> <td style="width: 127.25pt; 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;">14</font></p> </td> <td style="width: 144.1pt; 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;">14</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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;">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; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127.85pt; border-top: 1pt 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;">(3,174)</font></p> </td> <td style="width: 144.7pt; border-top: 1pt 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;">(3,111) </font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 170.25pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 8.9pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 106.85pt; 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;">2,046</font></p> </td> <td style="width: 8.9pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.7pt; 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;">1,953</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127.25pt; 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;">4</font></p> </td> <td style="width: 144.1pt; 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;">4</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 127.25pt; 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;">80</font></p> </td> <td style="width: 144.1pt; 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;">60</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <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: 170.25pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 8.9pt; 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: 106.85pt; 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;">2,130</font></p> </td> <td style="width: 8.9pt; 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: 123.7pt; 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;">2,017</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt; text-indent: -36pt; 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) The composite weighted average depreciation rate for each of the years ended December 31, 2024 and 2023 was approximately 2.21%.</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;">5. 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;">During the years ended December 31, 2024 and 2023, we made distributions totaling $276 million and $364 million, respectively, to our Members.</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;">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;">We are operated by KMI, and its employees provide services to us. The Operating Agreement provides for KMI to be reimbursed, at cost, for pre-approved expenditures and allocated general and administrative expenses 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 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="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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; 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;">Account</font></p> </td> <td style="width: 419.35pt; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" rowspan="2"> <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: 333.15pt; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 146.2pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 178.35pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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="width: 419.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 127.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">10&#160;</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 159.35pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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="width: 419.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capacity contract levelization</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 127.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">1&#160;</font></p> </td> <td style="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 159.35pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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="width: 419.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 127.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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> <td style="width: 8.9pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 159.35pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">242</font></p> </td> <td style="width: 419.35pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalances payable to associated companies</font></p> </td> <td style="width: 8.9pt; border-top: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 127.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">8&#160;</font></p> </td> <td style="width: 8.9pt; border-top: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 159.35pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 64pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">252</font></p> </td> <td style="width: 419.35pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Customer advances for construction</font></p> </td> <td style="width: 8.9pt; border-top: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 127.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">-&#160;</font></p> </td> <td style="width: 8.9pt; border-top: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 159.35pt; border-top: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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> </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;">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: 508.05pt; border-right: 1pt solid #000000; padding-right: 3.4pt; 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: 318.15pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 508.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; 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: 138.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 171.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 507.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Revenues</font></p> </td> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 122.6pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">8</font></p> </td> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 155.85pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;"> <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: 507.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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)</font></p> </td> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 122.6pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">118</font></p> </td> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 155.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">112</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 507.55pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capitalized costs</font></p> </td> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 122.6pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; 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> <td style="width: 14.82pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 155.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; 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> </tr> </table> <p style="margin-top: 0pt; margin-left: 54pt; 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) Includes costs associated with the Operating Agreement described above.</font></p> <p style="margin-top: 0pt; margin-left: 54pt; 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;">Subsequent Event</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;">Subsequent to December 31, 2024 and through the issuance of this report, we made distributions to our Members of $87</font><font style="font-family: Arial;">&#160;million.</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;&#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. Risk Management</font><font style="font-family: Arial; font-weight: bold;"> &#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;">Certain of our business activities expose us to risks associated with unfavorable changes in the market price of natural gas.</font><font style="font-family: Arial;"> &#160;</font><font style="font-family: Arial;"> Pursuant to our management&#8217;s approved risk management policy, we use derivative contracts to hedge or reduce our exposure to this risk.</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-style: italic;">Energy Commodity Price Risk Management</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 the following outstanding commodity forward contracts to hedge our forecasted energy commodity purchases and sales:</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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 441.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; 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;">Derivatives not designated as hedging contracts</font></p> </td> <td style="width: 367.65pt; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Net open position long/(short)</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 441.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Natural gas fixed price</font></p> </td> <td style="width: 367.65pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(4.8) billion cubic feet</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;">As of December 31, 2024, the maximum length of time over which we have hedged, for economic purposes, our exposure to the variability in future cash flows associated with energy commodity price risk is through September 2027.</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 and 2023, the fair value of derivative contract assets was zero&#160;</font><font style="font-family: Arial;">and less than $1 million, respectively, and included in Account 175 "Derivative Instrument Assets" on our balance sheets, and the fair value of derivative contract liabilities was $1</font><font style="font-family: Arial;">&#160;million and zero, respectively, and included in Account 244 "Derivative Instrument Liabilities" on our balance sheets. The fair value measurements of these derivative contracts were based on Level 1 and Level 2 inputs.</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 pre-tax impact of our derivative contracts on our income statements (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="width: 887.1pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 383.65pt; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 5.05pt; 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: 68.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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: 406.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Gain/(Loss) recognized in income on derivatives</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 385.95pt; border: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; 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;">Derivatives not designated as accounting hedges</font></p> </td> <td style="width: 68.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 406.85pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 185.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 213.1pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 385.95pt; border: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Energy commodity derivative contracts</font></p> </td> <td style="width: 68.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 9.25pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 165.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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: 13.85pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 189.15pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; 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> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 385.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 17.3pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transportation revenue</font></p> </td> <td style="width: 68.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">400</font></p> </td> <td style="width: 9.25pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 165.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">1&#160;</font></p> </td> <td style="width: 13.85pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 189.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 385.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 17.3pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Sales for resale</font></p> </td> <td style="width: 68.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;"><font style="font-size: 21.3333px;">400</font></font></p> </td> <td style="width: 9.25pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 165.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">-&#160;</font></p> </td> <td style="width: 13.85pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 189.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 385.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;"> <p style="margin-top: 0pt; margin-left: 26.3pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total</font></p> </td> <td style="width: 68.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;"> <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: 9.25pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 165.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;">1&#160;</font></p> </td> <td style="width: 13.85pt; border-top: 4.5pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.05pt; padding-left: 4.32pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;"> <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: 189.15pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 5.05pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6</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;">In conjunction with certain derivative contracts, we are required to provide collateral to and receive collateral from our counterparties through restricted cash deposits placed in margin accounts. As of December 31, 2024 and 2023, we had cash margin deposits of $2</font><font style="font-family: Arial;">&#160;million and less than $1 million, respectively, posted with our counterparties and reported in Account 134 "Other Special Deposits" on our balance sheets.</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-weight: bold;">7. Rate and Regulatory Matters</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; font-style: italic;">Regulatory Assets and Liabilities</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;">As of December 31, 2024, the regulatory assets are subject to recovery in our rates, over a period of approximately one year to 18 years.</font><font style="font-family: Arial;"> &#160;</font><font style="font-family: Arial;"> Below are the details of our regulatory assets and liabilities (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <table style="width: 652.65pt; margin-left: 4.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; 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: 230.8pt; border: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.1pt; border-right: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; 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: 99.55pt; border-top: 1pt 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: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 120.85pt; border-top: 1pt 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: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.75pt; border: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets (Account 182.3)</font></p> </td> <td style="width: 9.55pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 79.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 100.65pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; border-top: 1pt 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;"> <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;">Taxes on capitalized funds used during construction</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 79.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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;">8</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 100.65pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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;">7</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Other</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 79.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; 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> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 100.65pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: spaces;">&#160;&#160; </font><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: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 79.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">10</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 100.65pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; 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> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 79.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 100.65pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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;">Regulatory liabilities (Account 254)</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 79.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 100.65pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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; -aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Income tax related</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 79.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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;">135</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 100.65pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; 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;">145</font></p> </td> </tr> <tr style="height: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;"> Other</font></p> </td> <td style="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 79.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; 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="width: 9.4pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 100.65pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; 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: 23.75pt; -aw-height-rule: exactly;"> <td style="width: 401.45pt; 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; -aw-import: spaces;">&#160;&#160; </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Total regulatory liabilities</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 79.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">136</font></p> </td> <td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; 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: 100.65pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">146</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 72pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 4.5pt; margin-bottom: 0pt;"><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; 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;">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; 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;">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; font-size: 16pt;">&#160;</p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Texas-Louisiana Expansion Project (Docket No. CP24-8-000)</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; background-color: #ffffff;">On November 21, 2024, we received FERC approval to construct the Texas-Louisiana Expansion Project. Specifically, we requested authority to construct and operate approximately 21,540 horsepower of new compression at Compressor Station 302 located in Montgomery County, Texas, and related auxiliary facilities at Compressor Station 343 located in Liberty County, Texas. The project will create 300,000 dekatherms per day of incremental firm capacity on our existing mainline facilities along the Texas-Louisiana Gulf Coast region. The filed cost of the project is approximately $72 million with an expected in-service date of July 2026.</font><font style="font-family: Arial; background-color: #ffffff; -aw-import: spaces;">&#160;&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; background-color: #ffffff; -aw-import: spaces;">&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><em><font style="font-family: Arial; background-color: #ffffff; -aw-import: spaces;">Subsequent Event&#160;</font></em></p> <p class="MsoNormal" style="text-align: justify;"><em><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif;">Gulf Coast Storage Expansion Project (Docket No. CP25-52-000).&#160;&#160;</font></em><font style="font-family: Arial, sans-serif; font-size: 16pt;">On January 17, 2025, we filed an application with the FERC seeking authority to construct the Gulf Coast Storage Expansion Project. As part of the project, we propose to convert approximately 10 Bcf&#160;of cushion gas to working gas through the installation of a new electric motor drive compressor unit at our existing Compressor Station 388 and constructing approximately 5.88 miles of 30-inch loop line at our North Lansing natural gas storage facility in East Texas.&#160; We have agreements with various shippers for all of the capacity of this project.&#160; These</font><font style="font-family: Arial, sans-serif; font-size: 16pt;">&#160;contracts are expected to generate approximately $15 million in incremental revenues per year. The estimated total cost of the project is approximately $97 million. The project is targeted to be placed in service in the first half of 2027.</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; background-color: #ffffff;">8. </font><font style="font-family: Arial; font-weight: bold;">Recent Accounting Pronouncement</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-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; -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 December 14, 2023, the Financial Accounting Standards Board issued ASU No. 2023-09, &#8220;</font><font style="font-family: Arial; font-style: italic;">Income Taxes (Topic 740): Improvements to Income Tax Disclosures</font><font style="font-family: Arial;">.&#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> <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-weight: bold; -aw-import: ignore;"> &#160;</font></p> </div> </div></div> Moraine Lateral CP93-351-000 Incremental 10426246 10365049 17057 29700 3387 -110280 Storage Expansion - 2003 CP02-391 Incremental 42278249 18841498 5517339 259120 509736 980856 255342 5634528 Sayre Storage - 2006 CP05-7-000 Incremental 42681860 17487565 6073971 126983 154912 990219 416463 6852482 North Lansing NSS CP05-405-000 Incremental 80741923 31321594 11889703 81798 301604 1873213 135927 4541804 Louisiana Line Expansion CP07-3-000 At Risk 98721775 28907290 16739635 659592 337536 1776992 1095829 38299579 A/G Line Expansion Project CP05-34-000 At Risk 13005118 3475024 2298973 502505 89021 232609 105185 1137608 Arkoma Lateral CP91-1798-002 At Risk 51575799 31347448 4879746 327526 17426 926539 432559 20546258 A/G Expansion CP90-1363-000 At Risk 40092713 15506443 5456213 858767 523726 712069 103888 26459938 Hersher Galesville Project CP08-32-000 Incremental 56985546 20441022 8759508 236988 264434 1468609 135582 3733388 Sayre Expansion Project CP09-414-000 Incremental 6408837 2109946 998196 14677 33225 148685 58747 1632082 Chicago Market Expansion CP15-505-000 Incremental 237075 117160 64776 136274 See Footnote 442918066 179802879 62630341 3334732 2348779 9109791 2807685 108863660 1 2 3 4 5 6 7 8 9 10 11 12 1840524 41085 18037207 18078292 1840524 18037207 1840524 41085 18037207 18078292 false Account 136 - Temporary Cash Investment 7 5 4 2 1 Directly Charged Salaries and Wages Kinder Morgan, Inc. Various 85610452 Other Compensation and Benefits Kinder Morgan, Inc. Various 13385646 Shared Services Kinder Morgan, Inc. Various 21876751 Construction Overheads Kinder Morgan, Inc. Various 14381069 Transmission and Compression of Gas by Others Horizon Pipeline Company, L.L.C. 858 557723 135811641 Capacity Lease Horizon Pipeline Company, L.L.C. 489.2 4161000 Capacity Lease Kinder Morgan Illinois Pipeline LLC 489.2 729996 Capacity Lease Kinder Morgan Louisiana Pipeline LLC 489.2 825581 General and Administrative Services Horizon Pipeline Company, L.L.C. Various 77450 Interruptible Transportation Services Kinder Morgan Texas Pipeline LLC 489.2 2541139 8335166 2 3 4 5 6 9 10 11 12 13 Station 184 - Sayre, OK Underground Storage Compressor Stations 8 26185 31465870 141954 PT4935H 2 2024-03-25 Station 201 - Herscher, IL Underground Storage Compressor Stations 15 53820 97214192 586677 PT32736H 11 2024-01-16 Station 203 - Arcola, IL Underground Storage Compressor Stations 4 3250 6465892 29864 PT2901H 3 2024-08-11 Station 204 - Columbus Junction, IA Underground Storage Compressor Stations 7 19780 61375102 249189 PT13206H 5 2024-02-15 Station 205 - Keota, IA Underground Storage Compressor Stations 5 6670 17724373 3833 PT2604H 1 2024-01-12 Station 206 - St. Elmo IL Underground Storage Compressor Stations 5 8400 13670353 224605 PT9688H 5 2024-10-30 Station 214 - Columbus Junction, IA Underground Storage Compressor Stations 1 3500 10037344 63906 PT2509H 1 2024-10-13 Station 388 - Longview, TX Underground Storage Compressor Stations 7 37000 43970354 71480000 PT14539H 6 2024-03-04 Subtotal Underground Storage Compressor Stations 52 158605 281923480 3044029 4935100 12835409 1300028 71480000 PT83118H 34 Station 102 - Balko, OK Transmission Compressor Stations 3 12900 20569148 356512 PT10895H 3 2024-01-17 Station 103 - Minneola, KS Transmission Compressor Stations 5 20111 26928766 636613 PT17406H 4 2024-02-14 Station 104 - Great Bend, KS Transmission Compressor Stations 3 20500 39623590 181618 43192160 PT10883H 3 2024-10-25 Station 105 - Glasco, KS Transmission Compressor Stations 3 17100 19146814 1015931 PT15292H 3 2024-09-24 Station 106 - Beatrice, NE Transmission Compressor Stations 3 14350 19911213 508712 PT14069H 3 2024-10-16 Station 107 - Emerson, IA Transmission Compressor Stations 7 28300 36132753 906251 PT30200H 6 2024-09-18 Station 108 - Truro, IA Transmission Compressor Stations 5 26000 34599829 455836 PT11837H 4 2024-08-19 Station 109 - Harper, IA Transmission Compressor Stations 6 29650 38934561 736147 PT21264H 5 2024-10-18 Station 110 - Geneseo, IL Transmission Compressor Stations 7 34600 56645038 618084 PT12609H 6 2024-05-29 Station 111 - Fritch, TX Transmission Compressor Stations 1 11107 30099048 25712 PT370H 1 2024-12-13 Station 113 - Shorewood, IL Transmission Compressor Stations 9 13050 18338171 27921 PT520H 7 2024-01-14 Station 116 - Belvidere, IL Transmission Compressor Stations 1 4925 8719424 49176 PT1289H 1 2024-09-04 Station 117 - Mills Co, IA Transmission Compressor Stations 1 3550 520687 35740 PT2057H 1 2024-02-18 Station 139 - Lea, NM Transmission Compressor Stations 1 3250 3847498 Station 154 - Pampa, TX Transmission Compressor Stations 5 9120 8557417 42616 PT1563H 2 2024-02-14 Station 156 - Mountain View, OK Transmission Compressor Stations 3 9000 10845459 91382 PT3941H 1 2024-12-13 Station 159 - Mooreland, OK Transmission Compressor Stations 1 3165 13677148 38307 PT1266H 1 2024-04-03 Station 167 - Lovington, NM Transmission Compressor Stations 3 6000 13047320 259332 PT16417H 3 2024-12-31 Station 168 - Sudan, TX Transmission Compressor Stations 2 8000 9114406 3080 Station 169 - Hereford, TX Transmission Compressor Stations 1 8006 32965822 132863 PT1731H 1 2024-12-20 Station 193 - Kinsley, KS Transmission Compressor Stations 1 14500 10590878 148454 PT877H 1 2024-08-07 Station 194 - Wilson, KS Transmission Compressor Stations 1 14500 12351412 150335 PT1176H 1 2024-09-01 Station 195 - Haddam, KS Transmission Compressor Stations 1 12000 9120756 99495 PT993H 1 2024-07-14 Station 196 - Syracuse, NE Transmission Compressor Stations 2 24000 15504160 2912 16606920 PT1948H 1 2024-10-22 Station 198 - Knoxville, IA Transmission Compressor Stations 2 24000 9268783 265587 PT2019H 1 2024-07-14 Station 199 - Letts, IA Transmission Compressor Stations 2 24500 16414807 3951 2502212 PT224H 1 2024-06-23 Station 206A - Altamont, IL Transmission Compressor Stations 1 22000 40053940 373 1143804 PT62H 1 2024-07-06 Station 300 - Victoria, TX Transmission Compressor Stations 2 16000 42820102 1204215 PT245H 1 2024-12-30 Station 301 - Wharton, TX Transmission Compressor Stations 2 27050 72329934 202261 PT2903H 2 2024-11-06 Station 302 - New Caney, TX Transmission Compressor Stations 3 26800 56100278 141076800 PT21931H 3 2024-08-25 Station 303 - Lufkin, TX Transmission Compressor Stations 2 31800 76723090 1009298 PT9140H 2 2024-06-12 Station 304 - Marshall, TX Transmission Compressor Stations 2 46940 87737784 168510 PT1349H 2 2024-04-06 Station 305 - Texarkana, AR Transmission Compressor Stations 9 29650 16054453 155653 PT6641H 9 2024-03-27 Station 306 - Malvern, AR Transmission Compressor Stations 9 29650 46141468 542117 PT24525H 8 2024-12-05 Station 307 - Searcy, AR Transmission Compressor Stations 9 30850 16119237 420253 PT18075H 9 2024-12-05 Station 308 - Biggers, AR Transmission Compressor Stations 9 30850 15633335 476569 PT19562H 9 2024-12-22 Station 309 - Marble Hill, MO Transmission Compressor Stations 9 29650 42518433 489260 PT22687H 8 2024-12-22 Station 310 - Centralia, IL Transmission Compressor Stations 9 30600 20603578 487836 PT19205H 7 2024-02-24 Station 311 - Hammond, IL Transmission Compressor Stations 8 27800 17236664 309339 PT13596H 6 2024-03-21 Station 312 - Cropsy, IL Transmission Compressor Stations 1 30000 51861440 364731 PT2013H 1 2024-12-12 Station 341 - Robstown, TX Transmission Compressor Stations 2 6330 5802664 Station 342 - Johnson Bayou, LA Transmission Compressor Stations 6 19700 51818724 4918 PT84H 1 2024-03-12 Station 343 - Devers, TX Transmission Compressor Stations 2 26000 41445949 138028800 PT15266H 2 2024-12-07 Station 346 - Gueydon, LA Transmission Compressor Stations 4 9800 10043310 13876 PT730H 2 2024-10-16 Station 348 - Cameron, LA Transmission Compressor Stations 1 22490 68071971 1135231 PT8694H 1 2024-01-28 Station 394 - Atlanta, TX Transmission Compressor Stations 1 15900 55345510 554999 PT5183H 1 2024-02-12 Station 801 - Ratliff City, OK Transmission Compressor Stations 4 15120 31339291 501409 PT20986H 4 2024-12-05 Station 802 - Paris, TX Transmission Compressor Stations 3 16560 34386983 204881 PT6045H 2 2024-10-31 Station 803 - Mt. Pleasant, TX Transmission Compressor Stations 2 9470 27992593 84849 PT3458H 2 2024-07-05 Station 812 - Atoka, OK Transmission Compressor Stations 2 4000 9733755 12399 PT1H 2 2024-01-15 Subtotal Transmission Compressor Stations 181 951194 1453389394 27502066 23713815 46164011 13931329 343754911 PT403227H 146 1735312874 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 59 60 NGPL PipeCo LLC (NGPL PipeCo) owns NGPL Finance LLC, which owns 35% of Natural Gas Pipeline Company of America LLC (Natural). The remaining 65% of Natural is directly owned by NGPL PipeCo. NGPL PipeCo is wholly owned by Midco LLC, a wholly-owned subsidiary of NGPL Intermediate Holdings, a wholly-owned subsidiary of NGPL Holdings LLC. NGPL Holdings LLC is owned 37.5% by Kinder Morgan NGPL Holdings LLC, 37.5% by AL NGPL Holdings, LLC and 25% by BIP PipeCo Holdings LLC. Kinder Morgan NGPL Holdings LLC is owned by Kinder Morgan, Inc. AL NGPL Holdings, LLC is indirectly owned by funds managed by ArcLight Capital Partners, LLC. See Page 102, Control Over Respondent, for a description of our ownership structure. Allowance for other funds used during construction $ 2,872,066 Allowance for borrowed funds used during construction 1,152,301 Total $ 4,024,367 Allowance for other funds used during construction $ 1,512,904 Allowance for borrowed funds used during construction 820,667 Total $ 2,333,571 Equity in earnings of subsidiary companies $ 6,025 Equity in earnings of subsidiary companies $ 1,169,043 Cash distribution of earnings from Horizon Pipeline Company, L.L.C. (1,000,000 Total $ 169,043 Net increase in utility plant accruals $ 8,436,739 Net increase in utility plant accruals $ 13,968,041 Account 134 - Other special deposits $ 2,175,335 Account 136 - Temporary cash investments 2,919 Total $ 2,178,254 Account 134 - Other special deposits $ 472,838 Account 136 - Temporary cash investments 18,078,292 Total $ 18,551,130 Account 134 - Other special deposits $ 2,131,379 Account 136 - Temporary cash investments 41,085 Total $ 2,172,464 Brookfield Infrastructure Partners L.P. is incorporated in Bermuda. BIP PipeCo Holdings LLC is indirectly owned by Brookfield Infrastructure Partners L.P. In accordance with FERC Order No. 581, we use the inventory method to report storage gas. Account Amount 146 $ 13,697 931 9,409 Total $ 23,106 Recorded pursuant to Section 12.8 of the General Terms and Conditions of our FERC Gas Tariff. Volumes are on a flow month basis. Total Throughput volumes reported on Page 520, Lines 5 & 20 column d 649,703,555 Less: Double counted pools 56,999,341 Total equals Page 521, Line 68, column b 592,704,214 Storage Withdrawal from Working Gas (Top Gas). Storage Withdrawal from Working Gas (Top Gas). Storage Injection into Working Gas (Top Gas). Storage Injection into Working Gas (Top Gas). Recorded pursuant to Docket No. AI93-5-000 issued on April 23, 1993 (Accounting for Income Taxes). We estimate approximately $25.9 million of the ending balance is associated with the projects granted non-traditional rate treatment that are reported on page 217. Line 14 dekatherms do not include electric compressor stations. This footnote applies to all periods within the quarter. The value of this gas is based on the Average Monthly Index Price provided for in our tariff. This footnote applies to all periods within the quarter. Fuel recovery volumes (shipper supplied gas for storage): Dth October activity 151,699 November activity 38,094 December activity 50,428 Total storage fuel recovery activity 240,221 Plus transmission fuel recovery activity 7,163,558 Total fuel retained for the quarter 7,403,779 All revenue for DSS is reported as transportation revenue on page 304. Year-to-date shipper supplied gas (Fuel Used) from storage contracts: 1,580,320 Dth. These revenues are associated with the LPS agreements. The net monthly LPS Receipts/(Deliveries) volume activity for the quarter is as follows: Dth Net LPS Receipts/(Deliveries) Balance - Beginning of Quarter (1,720,706) Month 1 net activity 8,263,177 Month 2 net activity 2,418,948 Month 3 net activity (8,181,298) Net Quarterly Activity 2,500,827 Net LPS Receipts/(Deliveries) Balance - End of Quarter 780,121 Fuel recovery volumes (shipper supplied gas for transmission): Dth October activity 2,321,282 November activity 2,339,329 December activity 2,502,947 Total Transmission fuel recovery activity 7,163,558 See Page 332 for additional details on Transmission and Compression of Gas by Others. The cost rate percentage of common equity used as the source of the 2024 AFUDC rate was the rate set by Docket No. RP95-326 All volumes converted to Btu using 1.03 btu/cf (1.03 Dth/Mcf). Includes observation wells, water disposal wells and water pump wells. 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 $ 374,911,521 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 $ 393,627,592 As of December 31, 2023, we estimate that no deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates. As of December 31, 2024, we estimate that no deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates. Industry Research: FIS Capital Markets US LLC Use tax is distributed to various accounts based on the accounts charged for the originating invoice. Transmission Accumulated Provision for Depreciation Accumulated Depreciation $ 2,523,355,984 Negative Salvage 25,456,639 Less: Retirement Work in Progress 6,993,603 Total $ 2,541,819,020 For the year ended December 31, 2024, we did not sell gas from company owned cushion gas. From time to time we have completed storage expansion projects which, with FERC approval, reduces the amount of cushion gas required to be maintained for operation of certain of our storage facilities. We have a combination of working gas and customer parked LPS gas totaling 8.8 million Dekatherms that serves a cushion function. Year-to-date shipper supplied gas (Fuel Used & L&U) from transmission contracts: 29,013,816 Dth. Many of the natural gas volumes required to be reported on this page are tracked at the entity level rather than by discounted, negotiated, or recourse rate contracts; therefore, the reported amounts have been allocated to discounted, negotiated, or recourse rate contracts based on reasonable assumptions. Total Certificated HP at station. Concurrent station limitation of 18,620 HP. 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 107 $ 2,094,646 108 499,476 186 564,226 408.1 5,219,623 814 1,908,684 816 1,317,154 817 707,920 818 2,236,290 820 15,448 821 875,342 830 178,291 832 1,083,790 833 662,002 834 2,259,144 835 16,036 836 759,238 850 11,407,417 853 10,155,336 856 10,925,820 857 3,416,193 860 4,066 861 1,592,496 863 6,385,093 864 6,469,296 865 1,621,243 867 12,796 920 13,223,386 Total $ 85,610,452 Account Amount 107 $ 239,872 108 50,944 186 79,519 926 13,015,311 Total $ 13,385,646 Amounts charged by Kinder Morgan, Inc., through shared services are allocated using the modified Massachusetts Formula. Account Amount 408.1 $ 746,128 920 9,744,539 922 (638,765) 923 1,741,138 924 1,658,577 925 2,105,205 926 1,858,113 930.2 2,815,753 931 1,846,063 Total $ 21,876,751 Account Amount 107 $ 12,616,443 186 1,764,626 Total $ 14,381,069 Account Amount 408.1 $ 2,310 920 31,027 921 592 923 4,205 925 20,012 926 9,498 930.2 5,423 931 4,383 Total $ 77,450 Delivery point - 39755 Horizon/NGPL North McHenry Receipt point - 39855 Horizon/NGPL South Grundy Volumes represent January 2024 - December 2024 flow. The capital structure used as the source of the 2024 AFUDC rates is that of our direct parent, NGPL PipeCo LLC. The cost of debt used as the source of the 2024 AFUDC rates is that of our direct parent, NGPL PipeCo LLC. 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 $ 34,986,410 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 $ 32,582,012 All of the debt required to finance our pipeline was issued by our parent company, NGPL PipeCo LLC (NGPL PipeCo). NGPL PipeCo's interest expense, as calculated in accordance with U.S. Generally Accepted Accounting Principles and as reported on its audited consolidated financial statements for the years ended December 31, 2024 and 2023 was $95.2 million and $94.9 million, respectively. Interest on debt to associated companies recorded in Account 430 of $718 relates to principal balances in other accounts, and is not reported on Page 256. Schedule of Volumes for Calculation of Annual FERC Charges (ACA) under the Budget Omnibus Reconciliation Act of 1986 prepared in lieu of footnotes indicated by instructions 7, 9 and 10. Line No. Dth Total Deliveries of Gas Transported for Others 20 2,527,339,159 Less: Double-counted pooling point volumes 265,381,799 Total Deliveries of Gas for ACA calculation 2,261,957,360 Account Amount 142 $ 1,508,157 146 5,207 Total $ 1,513,364 Exclude electric storage compression booked to Account 819 of $4,935,100 Account Amount 819 $ 3,044,029 854 27,502,066 Total $ 30,546,095 In the order approving the Chicago Market Expansion Project (CMEP) in Docket No. CP15-505-000, the FERC approved our proposal to reflect our system reservation charge as the monthly reservation charge for the CMEP, but required us to calculate an incremental commodity charge for the CMEP instead of allowing us to use our system commodity charge as requested. We consider the CMEP to be a partially incremental project as a result. General Plant: Rate Structures 5.00% Office Machines/Equipment 7.50% Office Furniture 7.50% Computer Equipment 7.50% Vehicles 10.00% Tools and Shop Equipment 10.00% Lab Equipment 5.00% Power Operated Equipment 10.00% Communication Equipment 7.50% Miscellaneous Equipment 5.00% Storage Plant (in thousands) Page 204, Line 57, Column (g) $1,049,484 Less: Land 324 $1,049,160 Transmission Plant (in thousands) Page 204, Line 92, Column (g) $4,117,614 Less: Moraine (Fully Depreciated) 10,365 Less: Land 3,297 $4,103,952 General Plant (in thousands) Page 204, Line 124, Column (g) $43,037 Less: Land 686 $42,351 Intangible Plant (in thousands) Page 204, Line 5, Column (g) $13,601 Less: Organizational Costs (Fully Depreciated) 13 $13,588 Onshore Plant: Rate Transmission 2.10%* Right of Way - 10 Years 10.00% Right of Way - 30 Years 3.33% *Includes 0.30% for Negative Salvage Intangible Plant: Rate Miscellaneous Intangibles 7.50% Software 7.50% Herscher Galesville Intangible 5.00% Pursuant to Docket No. CP-24-29, five units at a total of 11,249 hp were retired and one unit at a total of 11,107 hp was placed into service on October 24, 2024. Forward purchases and sales of natural gas. See Page 122.1, Notes to Financial Statements, Note 2 "Summary of Significant Accounting Policies" and Note 6 "Risk Management" for additional information. Cushion Gas consists of 205,584,203 Dekatherms of recoverable cushion volumes owned in fee by us and 118,028,197 Dekatherms of non-recoverable volumes owned by us reported in Account 101. Amount consists of customer owned and proprietary gas. Natural has a combination of working gas and customer parked LPS gas totaling 8.8 million Dekatherms that serves a cushion function. This footnote applies to all transmission compressor stations not reporting operational data in columns k-m: Shipper nominations and resulting system flow patterns did not require operation of station in period. Plant cost in column (e) reflects gross cost of compressor station. Includes additional shared compressor station fuel with Horizon Pipeline Company, L.L.C. of 14,581 Dth. Includes a prior period adjustment of $(317,069) Many of the cost categories required to be reported on this page are recorded at the entity level rather than at the asset level. Therefore, the costs and expenses reported have been allocated to the projects listed based on reasonable assumptions and may differ from those used in a Section 4 rate proceeding. All horsepower is FERC Certificated. Site horsepower could be rated differently based on elevation and temperature. Pursuant to Docket No. CP24-30, two units at a total of 8,000 hp were retired and one unit at a total of 8,006 hp was placed into service on October 24, 2024. See Page 218, "General Description of Construction Overhead Procedure" for the basis of allocation.