C000967 2024-01-01 2024-12-31 C000967 2024-12-31 C000967 2023-01-01 2023-12-31 C000967 2023-12-31 C000967 2022-12-31 C000967 2024-10-01 2024-12-31 C000967 2024-10-01 2024-10-31 C000967 2024-11-01 2024-11-30 C000967 2024-12-01 2024-12-31 C000967 ScheduleGasPropertyAndCapacityLeasedToOthersAbstract 2024-01-01 2024-12-31 C000967 ScheduleGasPlantHeldForFutureUseAbstract 2024-01-01 2024-12-31 C000967 ScheduleExtraordinaryPropertyLossesAbstract 2024-01-01 2024-12-31 C000967 ScheduleUnrecoveredPlantAndRegulatoryStudyCostsAbstract 2024-01-01 2024-12-31 C000967 ScheduleCapitalStockAbstract 2024-01-01 2024-12-31 C000967 ScheduleCapitalStockSubscribedLiabilityForConversionPremiumOnAndInstallmentsReceivedOnAbstract 2024-01-01 2024-12-31 C000967 ScheduleDiscountOnCapitalStockAbstract 2024-01-01 2024-12-31 C000967 ScheduleCapitalStockExpenseAbstract 2024-01-01 2024-12-31 C000967 ScheduleSecuritiesIssuedOrAssumedAndSecuritiesRefundedOrRetiredDuringTheYearAbstract 2024-01-01 2024-12-31 C000967 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2024-01-01 2024-12-31 C000967 12 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 2025-04-16 2 El Paso Natural Gas Company, L.L.C. C000967 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 Matthew J. Wojtalewicz Vice President and Controller 1001 Louisiana Street, Suite 1000, Houston, TX 77002 true false El Paso Natural Gas Company, L.L.C. (EPNG) was originally organized as a Delaware corporation on November 18, 1928. EPNG was converted to a Delaware limited liability company on August 6, 2012. Respondent is a natural gas pipeline company primarily engaged in open-access interstate transportation and storage of natural gas. Respondent's interstate pipeline system extends from the Permian Basin area of West Texas and Southeast New Mexico, the Texas-Oklahoma Panhandle area, the Anadarko Basin of Southwest Oklahoma and the San Juan Basin of Northwest New Mexico and Southwest Colorado through one or more of the states of Texas, Oklahoma, New Mexico, Colorado, Arizona, and California, as well as to points of termination at the boundary between the United States and Mexico in both Arizona and Texas. false Kinder Morgan, Inc. M DE 1.00 Kinder Morgan GP LLC I DE 0.0242 Kinder Morgan Energy Partners, L.P. I DE 1.00 Kinder Morgan Operating LLC "A" D DE 1.00 1 2 3 4 Cross Country Development, L.L.C. J Gas Pipeline 0.55 Mojave Pipeline Company, L.L.C. D Gas Pipeline 1.00 Mojave Pipeline Operating Company, L.L.C. I Gas Pipeline 1.00 1 2 3 0 NA NA NA NA NA NA NA NA NA NA NA Not Prepared 4327617918 4210226073 58176622 44604342 4385794540 4254830415 2210323240 2141452171 2175471300 2113378244 2175471300 2113378244 20998718 20998718 9649647 2421303 11400000 11400000 918510 780510 51211068 54079335 169072055 163174784 230764613 227873609 53193 51045 79317456 74592950 6516805 479982 3228155 4100590 46834275 47932449 25197288 22867267 5884314 5074011 167031486 155098294 2686255 3066508 63139069 51199573 189318018 169283885 28541982 27470290 283685324 251020256 2887601088 2770790424 -1556249 10863939 47615007 248210999 47674128 253199441 19716879 92771125 616601 2887135 20333480 95658260 10726710 23053434 -11222140 -66729329 -11222140 -66729329 20502 210 20681 30764 132679 121937 1646312 1047601 51424 655177 73084 69582 534382 317867 25195 20278 2504259 2263416 166003 170391 -43 110833 335521 6725 3582 283561 509451 2787820 2772867 2787820 2772867 13737866 13366840 2073750 1537959 37092 44612 28013957 27791628 19665455 92115948 1004469 490118 21132471 21136249 6906882 6295227 40696315 48298385 5955498 5285449 36160417 32809373 175384172 249171788 2596787 2416047 142567 79991 91361705 84508018 14700483 13669622 1476644 1339865 1669 2422 129460 150861 110409315 102166826 285793487 351338614 15278680 13868074 431942 441438 4953039 2775751 1467570 1561272 2915199 1791527 16157110 8231935 3068436 3113759 2459186 2294116 1562383 1637345 48293545 35715217 48293545 35715217 325652712 323097369 855266817 901311400 855266817 901311400 214959836 220421092 214959836 220421092 110692876 102676277 110692876 102676277 99574089 97407402 99574089 97407402 26724 26724 1138490 1674187 1138490 1674187 11290 11290 11290 11290 2992072 13866715 2992072 13866715 8324578 14829791 8324578 14829791 36081610 38058347 36081610 38058347 57060467 57403477 57060467 57403477 11597479 10798466 11597479 10798466 16112900 25876098 16112900 25876098 1999719 1282812 1999719 1282812 -17808 -17808 -17808 -17808 184207 184207 539879004 552273871 539879004 552273871 315387813 349037529 315387813 349037529 2357225 2507884 138000 138000 4733584 5395074 4018467 4021364 2777636 1642592 1979704 2285735 15728616 15714649 59333 9922 1480261 1496867 1539594 1506789 1988382 2601830 280996 373770 1441954 736661 354785 359499 3356547 3352762 10832475 10855098 50604063 50604063 395718 387974 610 610 727192 1066714 861538 513926 50864825 51544215 275355463 308348412 275355463 308348412 39038855 34557081 270621879 302953338 4733584 5395074 89908160 89908160 39038855 4733584 5395074 Distributions of Earnings to Member 211 -224486158 -303866638 1 Change in gas owed to system -7228344 18119289 Change in postretirement benefit plan assets 3924778 -3332070 Change in prepayments -2330021 -3555718 Change in miscellaneous deferred debits 1316835 -608575 Accretion expense 184207 Change in customer advances for construction 33420 -821786 Change in other deferred credits -2405511 13213059 -6688843 23198406 1 2 3 4 5 6 7 Net salvage/(cost of removal) 10093024 6176113 Change in customer advances for construction -5269052 3358578 4823972 9534691 1 2 Capital contributions from Member 22356703 8235426 22356703 8235426 1 Distributions to Member 311081989 403699983 311081989 403699983 1 5924031 5924031 12417534 12417534 12417534 12417534 320765946 18341565 18341565 7467932 7467932 7467932 7467932 282823395 25809497 25809497 1532938161 1510581458 1648655818 1567961878 500000000 500000000 299750000 299750000 119181 134646 799630819 799615354 1695537 1695537 45140217 44286995 3930214 4229827 3776733 8882845 24495727 21583161 6973929 7004348 14863677 12123184 99180497 98110360 15324100 11271710 427786 445594 26132230 28549301 73456826 58231787 4579 5189 145276659 130486992 79511774 74416722 340133954 303407295 2887601088 2770790424 Amortization of intangible plant 1138490 1674187 Amortization of gas plant acquisition adjustment 11290 11290 Amortization of debt costs 395718 387974 Amortization of gain on reacquired debt -610 -610 1544888 2072841 1 2 3 4 99712089 97572126 15200350 24970448 -17808 -17808 10699197 -27420019 -1098174 392444 60629056 25568610 13610470 5197539 16507851 -6037000 2777636 1642592 0 0 436253917 495863479 148348414 94652755 2777636 1642592 150394750 102544854 2868267 2147923 -147526483 -100396931 22356703 8235426 -288725286 -395464557 2148 1991 51045 49054 53193 Environmental Reserve 5816911 Various 2271780 2118601 5663732 Deferred Park and Loan Revenue 15475602 489.2 38883488 31275434 7867548 Levelized Revenue 6327293 489.2 6023678 12005208 12308823 Deferred Water Lease Revenue 929495 417 637368 292127 47816314 45399243 1 2 3 4 Federal Energy Regulatory Commission 2024 Annual Charge Adjustment (Amortized over 1 year) 3373897 3373897 3373897 182.3 843475 2530422 Federal Energy Regulatory Commission 2023 Annual Charge Adjustment (Amortized over 1 year) 2965845 2965845 2224386 182.3 2224386 Professional and Other Fees 575 575 575 232 575 6339742 575 6340317 2224386 3374472 3068436 2530422 1 2 3 Revaluation of Monthly Encroachment in Account 117.4 -7169223 Losses on Settlements of Gas Imbalances 7806186 Revaluation of Imbalances 4794940 Revaluation of FL&U 5294806 1 2 3 4 23420021 47674128 47674128 47615007 47615007 7169223 7169223 30648365 19412579 4270700 23683279 1.0817 2.2595 1.2941 2792 2792 12807 12807 1837 1837 195308001 273431 70388222 70661653 213722517 299212 74056420 74355632 202071376 282900 74314614 74597514 639142 639142 959705 959705 549067 549067 639142 639142 959705 959705 549067 549067 195308001 273431 71030156 71303587 213722517 299212 75028932 75328144 202071376 282900 74865518 75148418 1 48694 60253 48694 60253 3335348 3548705 842533547 846671569 845868895 850220274 2382389320 2407273866 9349228 51030873 9349228 51030873 3335348 3548705 851931469 897762695 855266817 901311400 3335348 3548705 851931469 897762695 Arizona IT1 3591 3451 807110 780063 810701 783514 2565244 2370955 Arizona FT1 472208 437841 143450277 142444888 143922485 142882729 337290942 297423946 Arizona FT2 1179 1242 420836 442464 422015 443706 842252 843486 Arizona FTH3 46619 52111 26339742 26846128 26386361 26898239 33298799 35382559 Arizona FTH8 24026 29326 16070631 15415079 16094657 15444405 17161648 19864721 Arizona FTH12 107588 116195 42989234 42307195 43096822 42423390 76848500 78598428 Arizona FTH16 16112 16015 5515451 5527572 5531563 5543587 11508327 10770163 Arizona IHSW 531452 457581 531452 457581 California IT1 1010 2679 262131 621980 263141 624659 721222 1819869 California FT1 905241 1065448 305085204 302218421 305990445 303283869 646600313 722550588 California FTH12 175 444 5538 2942 5713 3386 125452 296019 California FTH16 1396 1572 13964 30819 15360 32391 996879 1089074 Nevada IT1 20 4561 4581 14000 Nevada FT1 216 1162 6468 48954 6684 50116 154510 786877 Nevada FTH16 25 771 796 17645 New Mexico IT1 1531 1178 289146 284710 290677 285888 1093507 808351 New Mexico FT1 129973 155947 38044614 38444251 38174587 38600198 92837828 106105648 New Mexico FT2 3749 4058 1048376 1077175 1052125 1081233 2677842 2762970 New Mexico FTH12 16035 18769 5834906 5725211 5850941 5743980 11453978 12711352 New Mexico FTH16 4 27 31 2721 New Mexico IHSW 295 1147 295 1147 Texas IT1 1097 2196 211377 351842 212474 354038 783269 1492281 Texas FT1 187165 143278 35876518 37422601 36063683 37565879 133689392 97284584 Texas FT2 634 686 160360 161610 160994 162296 452805 467765 Texas FTH3 16906 18384 16210677 15621780 16227583 15640164 12075678 12506828 Texas FTH8 124 834 8181 24321 8305 25155 88798 559380 Texas FTH12 10860 15977 3253137 3427862 3263997 3443839 7756959 10899577 Texas FTH16 75471 73619 23109510 24210132 23184981 24283751 53907917 49900598 Texas IHSW 25252 50167 25252 50167 Production Area IT1 31511 31330 1925034 1989169 1956545 2020499 22507861 21265634 Production Area FT1 1265939 1345471 104642146 105675367 105908085 107020838 904241090 912299469 Production Area FT2 286 291 74070 68838 74356 69129 204408 198348 Production Area FTH3 5 11 16 3332 Production Area FTH8 4968 6225 943799 2050950 948767 2057175 3548532 4206711 Production Area FTH12 8267 2356 274716 280194 282983 282550 5905197 1592663 Production Area FTH16 1446 591 4234 1654 5680 2245 1032839 394656 Production Area IHSW 119241 123356 119241 123356 Wilcox IT1 1782 1782 Wilcox FT1 13296714 13317063 13296714 13317063 Park and Loan 55676852 59217285 55676852 59217285 Arizona 671323 656181 236124733 234220970 236796056 234877151 479515712 445254258 California 907822 1070143 305366837 302874162 306274659 303944305 648443866 725755550 Nevada 236 1187 11029 49725 11265 50912 168510 804522 New Mexico 151288 179956 45217337 45532521 45368625 45712477 108063155 122391042 Texas 292257 254974 78855012 81270315 79147269 81525289 208754818 173111013 Production Area 1312422 1386264 107983251 110189528 109295673 111575792 937443259 939957481 Wilcox 13298496 13317063 13298496 13317063 Park and Loan 55676852 59217285 55676852 59217285 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 25197288 1510581458 22356703 1532938161 Contributions from Member 22356703 Transfer from Account 216 224486158 Transfer from Account 236 63372674 Transfer from Account 186 23223157 Distributions to Member -311081989 1 2 3 4 5 8729928 619300 Gas Sales 9349228 12 Account 489.2, Revenues from transportation of gas of others through transmission facilities. 98045199 115938131 536612383 1309304898 98045199 115938131 536612383 1309304898 1 74235 16471 Shared Service Allocations 2368480 6 2120245 3924778 Health and life insurance 7060854 Long-term disability insurance 159778 401K Employer contributions 2642097 Other 249358 6 7 8 9 Interconnect Imbalance 1068136 2375302 6858944 1941078 Pooling Imbalance 3 4 887 FT1 1254467 354923 267676 246222 FT2 149022 63477 16227 33084 FTH3 672599 285764 53093 257560 FTH8 65215 12697 4234 30846 FTH12 101796 162853 225884 174984 FTH16 654119 212392 269110 IT1 773775 643139 198498 574112 Imbalance Cashouts 1808041 453089 477979 2263034 6547173 4563640 8103422 5790030 1 2 3 4 5 6 7 8 9 10 Transportation Received from: El Paso Natural Gas Company, L.L.C (Daggett/Topock-Mojave, CA) Delivered to: Mojave Pipeline Company, L.L.C. (Daggett, CA) true Payment company: Mojave Pipeline Company, L.L.C. true 15725306 150180244 Received from: El Paso Natural Gas Company, L.L.C (El Paso Blanco San Juan) Delivered to: TransColorado Gas Transmission Company LLC (WRH, Ryan Gulch, Rio Blanco) true Payment company: TransColorado Gas Transmission Company LLC true 24971009 39167671 189347915 1 2 3 4 5 6 7 570189 570189 1675057 1675057 253729 253729 87653 87653 347726 347726 42789 42789 193094 193094 343773 343773 675305 675305 2036048 2036048 6225363 6225363 828817 828817 281690 281690 1076368 1076368 1952806 1952806 2483286 2483286 1681201 1681201 996930 996930 1304323 1304323 1066829 1066829 780104 780104 42710 42710 12495064 12495064 32130437 25127057 57257494 70177800 19 2 208285 2024-12-18 El Paso Natural Gas Company, L.L.C. 2382389320 611101894 4563640 1515104 189347915 44419054 6225363 3055126 33760463 8624843 4358303 1114552 2620645004 669830573 2382389320 611101894 5790030 852803 189347915 44419054 12495064 822814 30025561 8349696 Off System Compressor Fuel 215136 44736 Net Gas Used for Other Utility Operations 991624 288170 Fuel & L&U Retention True Up 134601 105241 Line pack change -235137 -218871 Park and Loan change -3165568 3194988 Imbalance Adjustments 4620 325 2617993166 668960850 2651838 869723 2620645004 669830573 16 31 32 33 34 35 36 4327116220 4327116220 4327116220 4327116220 58176622 501698 501698 4385794540 2210323240 2175471300 2204208674 2204208674 5899830 5899830 2210108504 2210108504 214736 214736 Income Tax Gross-Up on AFUDC Equity Remaining life of assets Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes) 8449348 877955 407.3 411071 8916232 FERC Annual Charge Adjustment 12 months ending September 30 18 CFR 154.402(a) and 18 CFR 382.202 2224386 3373897 928 3067861 2530422 ASC 740 Regulatory Asset Tax Rate Change Amortize over 22.6 years beginning January 2023 Docket No. RP19-73-006 522929 410.1 24252 498677 Unfunded Deferred State Income Taxes 30 years beginning January 2006 Docket No. RP08-426 and RP10-1398 2489472 407.3 207456 2282016 Asset Retirement Obligations Docket No. RM02-7-000 (Order No. 631) issued on April 9, 2003 1646722 230 1646722 Loss on East Valley Line Sale Amortized using the transmission depreciation rate of 2.20% Docket No. CP07-09-000 and RP10-1398 2969741 407.3 90806 2878935 Cashout Tracker Section 10.3 of the General Terms and Conditions of our tariff 32630156 13402631 46032787 Fuel Tracker Docket No. RP05-422 266819 449969 Various 716788 18104452 6164956 1 2 3 4 5 6 7 8 106945 58333 165278 2026-11-15 1996-11-13 1750000 200000000 Debentures - 7.5% Series Due November 2026 798806 106507 905313 2032-06-15 2002-06-10 2836278 300000000 Notes - 8.375% Issue Due June 2032 1780504 215413 1995917 2032-02-15 2022-02-23 2369272 300000000 Senior Notes - 3.5% Issue Due February 2032 83250 11100 94350 2032-06-15 2002-06-10 333000 300000000 Notes - 8.375% Issue Due June 2032 35931 4365 40296 2032-02-15 2022-02-23 48000 300000000 Senior Notes - 3.5% Issue Due February 2032 2 3 4 6 8 9 380942 380942 35236691 35236691 15278680 15278680 50896313 50896313 177318 177318 19406433 19406433 19583751 19583751 558260 558260 54643124 54643124 15278680 15278680 70480064 70480064 70480064 70480064 5026580 5026580 5026580 5026580 974833 974833 974833 974833 Account 186 274027 274027 274027 274027 76755504 76755504 12 Gas Imbalance Due to Others 9708592 Environmental Reserve 4493763 Deferred Water Lease Revenue 637368 Minor Items (less than $250,000) 23954 1 2 3 4 819, 854 30240697 812 Gas Used for Other Utility Operations - Credit (Report separately for each principal use. Group minor uses.) Mains Expense 856 954512 597695 Construction 107 37112 18906 31232321 5 6 7 74416722 2283517 457418 219 2354117 79511774 74416722 2283517 457418 2354117 79511774 2283517 457418 2354117 65069133 2134069 400780 2062630 69666612 9347589 149448 56638 291487 9845162 887775 887775 887775 Investment Advance - Open Account - Kinder Morgan, Inc. 5 3 1 Willcox Lateral CP99-322 Incremental 34525472 20281380 1758523 1734532 906124 688014 394049 6789497 Willcox Expansion CP12-6 Incremental 53857329 19242097 3486060 2705749 1413490 1182573 603079 6507217 88382801 39523477 5244583 4440281 2319614 1870587 997128 13296714 1 2 1138490 1138490 690096 690096 95768219 95768219 3115774 3115774 99574089 1138490 100712579 63923 0.0109 4211822 0.0000 37531 0.0000 Intangible Plant 7957 0.0000 9 Maricopa Expansion 9044453 22955547 Pipe Replacements 5848885 10720773 Pressure Testing 4097662 8606742 Compressor Overhauls and Turbine Exchanges 7948467 2324180 Compressor Controls Systems 8096978 1665955 Regenerator Replacements 2476483 6675829 Diamondback Meter Station and Lateral Expansion 1158190 5041810 Cathodic Protection 3659058 1300091 Emissions Reductions - Compressors Replacements 2652961 2136387 Right of Way Renewals 801842 3432854 Make Pipelines Piggable 1960838 2139826 Compressor Foundation Replacements 3364991 254040 Pipeline Valve Replacements 2713607 464178 Compressor Component Replacements 2381100 158611 Washington Ranch Projects 110755 2134538 Miscellaneous Construction Projects Under $1,000,000 1860352 78483 70089844 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 <div><p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">1. Construction Overhead</font></p> <p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(a) Overhead charges are intended to cover those indirect costs pertaining to construction activities for departments such as engineering, operations and accounting for their labor and related employee benefits and office space. The overhead amount capitalized is charged to all construction projects by applying a construction overhead clearing rate to direct project costs.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(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 class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(c) Costs are accumulated in a blanket overhead project and distributed monthly to individual construction projects.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(d) Different overhead rates are applied based on the nature of the construction project.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(e) The basis for the differentiation in overhead rates stems from the economies of scale that are achieved with these projects.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(f) Overheads are directly assigned to each project.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">2. Allowance for Funds Used During Construction</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">Allowance for funds used during construction is calculated below.</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">3. Net-of-Tax rate for borrowed funds</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">Not Applicable</font></p> <p>&#160;</p></div> 799615354 El Paso Natural Gas Company, L.L.C 0.3404 0.0640 1549620313 El Paso Natural Gas Company, L.L.C 0.6596 0.1055 2349235667 1.0000 39090653 El Paso Natural Gas Company, L.L.C 0.0218 0.0696 0.0218 0.0696 15000000 0.0750 200000000 2026-11-15 1996-11-13 Debentures - 7.5% Series Due November 2026 10500000 0.0350 300000000 2032-02-15 2022-02-23 Senior Notes - 3.5% Series due February 2032 25500000 25104063 0.08375 299750000 2032-06-15 2002-06-10 Notes - 8.375% Issue Due June 2032 25104063 50604063 799750000 2 3 10 Mojave Pipeline Company, L.L.C. Capital Contribution 2010-11-30 54079335 2868267 51211068 Unappropriated Undistributed Subsidiary Earnings 4733584 4733584 Subtotal 54079335 4733584 7601851 51211068 51211068 7601851 1 2 6 13 Advance of Deferred Income Taxes to Member 160732277 23223157 183955434 Revenue Levelization 2422102 142 461353 1960749 Park and Loan Accrual 1153523 6561930 Various 7322379 393074 4975983 3008761 29785087 7783732 1 2 3 FERC Form 2 EPNG System Map 2025.pdf 1 0 1 1 2 1 2 130486992 13805131 984536 145276659 130486992 13805131 984536 145276659 13805131 984536 114096369 12329517 862630 127288516 16390623 1475614 121906 17988143 2024-08-05 688599 5131035 5819634 -16974 -97005 -113979 671625 5034030 5705655 21790 179601 201391 Operational Balancing Agreements -43985 80405 36420 Park and Loan 58928 58928 -22195 318934 296739 2024-08-03 2104671 14859748 16964419 -23174 -124115 -147289 2081497 14735633 16817130 Operational Balancing Agreements 1438 47580 49018 Park and Loan 148492 148492 1438 196072 197510 Washington Ranch - New Mexico Underground Storage 255750 63922510 true 1 Other (less than $250,000) 59333 Environmental reserve 1480261 Penalty crediting reserve (FERC interest rate) 163789 Third party deposit interest (FERC interest rate) 524469 Trustee fees 38934 1 3 5 7 9 10 12 13 15 17 18 19 20 -4579 -5189 17500 300000000 2003-10-15 2032-06-15 Notes - 8.375% Due 2032 2 4 <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">1. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">2. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">3. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">4. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">5. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">6. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">7. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">8. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">9. See page 122.1, Notes to Financial Statements, Note 9, "Litigation, Environmental and Commitments."</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">10. None.</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">11. See page 122.1, Notes to Financial Statements, Note 8 &#8220;Rate and Regulatory Matters.&#8221;</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">12. Changes made during the year ended December 31, 2024:</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Times New Roman',serif; mso-fareast-font-family: 'Times New Roman'; color: black;">&#160;</font><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Appointments:</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">&#160; &#160; &#160; &#160;</font><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Will Brown &#8211; Chief Commercial Officer</font></p> <p class="MsoNormal" style="margin-left: .5in; mso-add-space: auto;"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Michael J. Pitta &#8211; Vice President </font></p> <p class="MsoNormal" style="margin-left: .5in; mso-add-space: auto;"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Tony Sala &#8211; Vice President</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Resignations:</font></p> <p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">&#160; &#160; &#160; &#160;</font><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Denise Mathews &#8211; Vice President </font></p> <p class="MsoNormal" style="margin-left: .5in; mso-add-space: auto;"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Kimberly S. Watson &#8211; President</font></p> <p class="MsoNormal" style="margin-left: .5in; mso-add-space: auto;"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Debbie Cone - Vice President</font></p> <p>&#160;</p></div> <div><p class="MsoNormal"><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">13. N/A</font></p> <p>&#160;</p></div> 43640 43640 13838233 489172 6370638 7956767 13881873 489172 6370638 8000407 3106791 3106791 1782885 1782885 15404226 15404226 45071 45071 8869881 73710 8943591 30194524 607054 41003 30760575 1628245 1628245 1141656 1141656 1109470 1109470 63282749 680764 41003 63922510 63282749 680764 41003 63922510 13166532 13166532 93500445 93500445 59292198 1262159 13106 60541251 2353989816 69362187 2300350 -1688511 2419363142 1359259806 55533670 8377607 2201819 1408617688 146671500 7640879 1642637 -513308 152156434 59585242 400066 10109 59975199 10341410 10341410 309732 309732 0 4096116681 134198961 12653541 0 4217662101 9993579 280019 8013 10265585 198149 1114 3403 195860 16982237 2717795 1043108 18656924 7302869 440665 949702 6793832 46741 46741 1966238 115089 509067 1572260 36443072 3601423 2513293 37531202 36443072 3601423 2513293 37531202 4209724375 138970320 21578475 0 4327116220 4209724375 138970320 21578475 0 4327116220 27470290 716907 354785 28541982 27470290 716907 354785 28541982 716907 354785 24019699 677349 310855 25007903 3450591 39558 43930 3534079 FT1 172664326 241730 52496274 52738004 189926455 265898 55529903 55795801 180513824 252719 56095216 56347935 FT2 252612 354 104144 104498 469521 657 189917 190574 574900 805 232881 233686 FTH12 9048951 12669 4863544 4876213 7193176 10071 3439108 3449179 7258647 10162 3532983 3543145 FTH16 7562517 10587 2787515 2798102 5008856 7012 1834592 1841604 4077451 5708 1832357 1838065 FTH3 1665071 2331 2081819 2084150 6365812 8912 5795647 5804559 6331123 8864 6758344 6767208 FTH8 1950830 2731 1724036 1726767 1305075 1827 1047684 1049511 1510436 2115 1078310 1080425 IHSW 77185 77185 124973 124973 46079 46079 IT1 2163694 3029 344981 348010 3453622 4835 369834 374669 1804995 2527 176282 178809 PAL 5908724 5908724 5724762 5724762 4562162 4562162 1 2 3 4 5 6 7 8 9 Beemac Inc 271851 Rl Roofing Systems & 276317 Price Waterhouse Coopers LLP 284556 Uels LLC 285405 Wagner Rents Inc 295919 Mclean's CP Installation Inc 307219 Rain For Rent 309602 Warren Averett Staffing & Recruiting 316753 EP Insulation & Contractor LLC 317357 TAF Aerial Services LLC 332961 Chemical Weed Control Inc 344504 FTI Consulting Inc 351615 Kahuna USA LLC 369241 Standard Safety & Supply 370431 Nexus Integrity Management LLC 376472 Abrams Technical Services Inc 388570 Zia Welding Services LLC 391464 United Rentals (N America) Inc 393299 Taft Electric Inc 397588 Linde Services Inc 402406 Onshore Quality Control 408569 Mojave Earth Solutions Inc 422980 Horizon Power Systems 428313 SWCA Environmental Consultants 439428 Eastern Energy Services Inc 477017 Mueller Environmental Designs 478658 Reserve Compression Corp 522017 Aces Automation Inc 578477 Dean Equipment Inc 604062 Natural Energy Field Services 607908 PSI 626530 Infrapro Services LLC 686740 Gallup Pipeline & Compliance 731269 Universal Plant Services LLC 753691 Acuren Inspection Inc 774201 Camunez Construction Company 777499 Munsch Hardt Kopf & Harr PC 838181 PCI Electric LLC 852009 RRC Energy Services LLC 858578 Baywater Pipeline Services LLC 868485 Cooper Machinery Services LLC 927223 Modrall Sperling Roehl Harris 957954 Sulzer Turbo Services 993386 Enviroserve Inc 1165301 Taft Construction 1282614 WHC LLC 1337891 Midland Resource Recovery 1360333 Wild Well Control 1404077 TAS Environmental Services LP 1444781 International Inspecting Inc 1473566 CNG Direct LLC 1599783 JRGO LLC 1736138 The Loftis Company 1952431 Ex El Pipeline Services LLC 1979635 BWS Services LLC 2153485 Whitetail Oilfield Svcs LLC 2343319 Corrpro Companies Inc 2497884 Iron Horse Energy Services Inc 2584708 UPS Midstream Services LLC 2758156 Troy Construction LLC 3208836 Bowen Industrial Contractors 3217058 Eagle Compression LLC 3698200 Enerflex Energy Systems Inc 3812730 Exline Inc 5214808 Solar Turbines Incorporated 7361498 Western Industrial Resources 20382546 Other (less Than $250,000) 17395951 115762434 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 135572 1970316 1185252 3291140 69345 1007817 606256 1683418 135572 1970316 1185252 3291140 69345 1007817 606256 1683418 110526 1606115 966030 2682671 56534 821528 494124 1372186 819/854 810 110526 1606115 966030 2682671 56534 821528 494124 1372186 10160 147636 88797 246593 5196 75516 45420 126132 Various Various 10160 147636 88797 246593 5196 75516 45420 126132 10357 150505 90525 251387 5298 76983 46303 128584 10357 150505 90525 251387 5298 76983 46303 128584 4529 66060 39900 110489 2317 33790 20409 56516 4529 66060 39900 110489 2317 33790 20409 56516 4529 66060 39900 110489 2317 33790 20409 56516 182.3/407.3 254/407.4 Other Dispositions 4529 66060 39900 110489 2317 33790 20409 56516 Gas due from shippers 12 12 136490 1936351 1131260 3204101 24609 349124 203966 577699 See Footnote 136490 1936351 1131260 3204101 24609 349124 203966 577699 118363 1679029 981077 2778469 21341 302729 176888 500958 819/854 810 118363 1679029 981077 2778469 21341 302729 176888 500958 15754 223479 130582 369815 2841 40293 23543 66677 Various Various 15754 223479 130582 369815 2841 40293 23543 66677 9082 128826 75274 213182 1637 23227 13573 38437 9082 128826 75274 213182 1637 23227 13573 38437 -6709 -94983 -55673 -157365 -1210 -17125 -10038 -28373 -6709 -94983 -55673 -157365 -1210 -17125 -10038 -28373 Other Dispositions Gas due from shippers 6709 94983 55673 157365 1210 17125 10038 28373 182.3/407.3 254/407.4 6709 94983 55673 157365 1210 17125 10038 28373 598536692 21326803 619863495 229808 1833601 1180745 3244154 138092 1101811 709509 1949412 229808 1833601 1180745 3244154 138092 1101811 709509 1949412 204510 1632612 1051434 2888556 122890 981037 631806 1735733 819/854 810 204510 1632612 1051434 2888556 122890 981037 631806 1735733 20974 167435 107831 296240 12603 100612 64796 178011 Various Various 20974 167435 107831 296240 12603 100612 64796 178011 28685 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2406.7 Arizona AZ Not Operated by Respondent 0.6 California CA Not Operated by Respondent 93.4 10160.7 94.0 10254.7 1 2 3 4 5 6 7 8 9 10 11 12 Directly Charged Salaries and Wages Kinder Morgan, Inc. Various 73120116 Other Compensation and Benefits Kinder Morgan, Inc. Various 2852529 Post-retirement Benefits Other Than Pensions Transfer Kinder Morgan, Inc. 926 12500000 Shared Services Kinder Morgan, Inc. Various 17482940 Construction Overheads Kinder Morgan, Inc. Various 11548049 Transportation of Gas TransColorado Gas Transmission Company LLC 858 24971009 Transportation of Gas Mojave Pipeline Company, L.L.C. 858 15725306 158199949 Transportation Revenue Kinder Morgan Texas Pipeline LLC Various 107883 Transportation Revenue KM Gas Marketing, L.L.C. 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General</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, originally formed in 1928 as a corporation. When we refer to "us," "we," "our," "the Company," or "EPNG" we are describing El Paso Natural Gas Company, L.L.C. We are an indirect wholly owned subsidiary of Kinder Morgan, Inc. (KMI).</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our primary business consists of the interstate transportation and storage of natural gas. Our system consists of approximately 10,250 miles of transmission pipeline with a design capacity of approximately 6.41 billion cubic feet per day (Bcf/d). Our system extends from the San Juan, Permian and Anadarko basins to California, our single largest market, as well as markets in Arizona, Nevada, New Mexico, Oklahoma, Texas and northern Mexico. The design capacity for natural gas reflects winter sustainable west-flow capacity of approximately 4.90&#160;Bcf/d and approximately 1.51 Bcf/d of non-mainline capacity.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We utilize our Washington Ranch underground natural gas storage facility located in New Mexico to manage our transportation needs. This storage facility has up to approximately 44 Bcf of underground working natural gas storage capacity.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-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="-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="-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 (U.S.) (GAAP).</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The most significant differences between GAAP and the financial statements presented herein are: (i) the deferral of certain costs and revenues, (ii) the classification of certain accounts on the balance sheet and statement of income, (iii) subsidiaries are reflected on the equity method whereas GAAP requires that all controlled subsidiaries be consolidated, and (iv) the inclusion and classification of income taxes in a limited liability company's financial statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Management has evaluated subsequent events through April 16, 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="-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="-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="-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; 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;">Cash Equivalents</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-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="-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="-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="-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 allowance for credit losses 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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Inventories</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our inventories, which consist of materials and supplies, are valued at weighted-average cost, and we periodically review for physical deterioration and obsolescence.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Natural gas imbalances occur when the amount of natural gas delivered from or received by a pipeline system or storage facility differs from the scheduled amount of gas to be delivered or received. We value these imbalances due to or from shippers and operators at current index prices. Imbalances are settled in cash or made up in-kind, subject to the terms of our FERC tariff. Imbalances due from others are reported on our balance sheets as part of Account 174 "Miscellaneous Current and Accrued Assets." Imbalances owed to others are reported on our balance sheets as part of Account 242 "Miscellaneous Current and Accrued Liabilities." We classify all imbalances due from or owed to others as current as we expect to settle them within a year.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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;">Property, Plant and Equipment</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Included in our property balances are base gas and working gas at our storage facility. We periodically evaluate natural gas volumes at our storage facility for gas losses. When events or circumstances indicate a loss has occurred, we recognize a loss on our income statement or defer the loss as a regulatory asset on our balance sheets if deemed probable of recovery through future rates charged to customers.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize a carrying cost (an allowance for funds used during construction or AFUDC) on debt and equity funds related to the construction of long-lived assets. This carrying cost consists of a return on the investment financed by debt and a return on the investment financed by equity. The debt portion is calculated based on our average cost of debt. Interest costs capitalized are included as a reduction to interest charges in Account 432 "Allowance for Borrowed Funds Used During Construction - Credit" on our income statements. The equity portion is calculated based on our most recent FERC approved rate of return. Equity amounts capitalized are included in Account 419.1 "Allowance for Other Funds Used During Construction" on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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="-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="-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 the substantial majority of our assets because these assets have indeterminate lives. We continue to evaluate our ARO and future developments could impact the amounts we record. Our ARO are recorded in Account 230 "Asset Retirement Obligations."</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Long-lived Asset and Investment Impairments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-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="-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="-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, including our investment in Mojave Pipeline Company, L.L.C (Mojave), of which we are the sole owner. 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; 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 Recognition</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-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="-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 Contracts.</font><font style="font-family: Arial;"> Our revenues are primarily generated from the transportation 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="-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 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 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. 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. In other cases, generally described as interruptible service, there is no fixed fee associated with these transportation 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.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">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="-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 not significant. As of December 31, 2024 and 2023, our contract liability balances were approximately $21 million and $23 million, respectively. Of the contract liability balance at December 31, 2023, approximately $22 million was recognized as revenue during the year ended December 31, 2024.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Major Customers.</font><font style="font-family: Arial;"> For each of the&#160;years ended December 31, 2024 and 2023, revenues from our largest customer was&#160;approximately $108 million, which exceeded 10% of our operating revenues in each period.&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental Matters</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We routinely conduct reviews of potential environmental issues and claims that assist us in identifying environmental issues and estimating the costs and timing of remediation efforts. We also routinely adjust our environmental liabilities to reflect changes in previous estimates. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us, and potential third-party liability claims we may have against others. Often, as the remediation evaluation and effort progresses, additional information is obtained, requiring revisions to estimated costs. Refer to Note 9 "Litigation, Environmental and Commitments</font><font style="font-family: Arial; font-style: italic;"> - Environmental Matters</font><font style="font-family: Arial;">" for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We participate in KMI's postretirement benefit plan covering certain of our former employees that we have made contributions to in the past. These contributions are invested until the benefits are paid to plan participants. The net benefit cost (credit) of this plan is recorded on our income statements and is a function of many factors including expected returns on plan assets and amortization of certain deferred gains and losses. Refer to Note 6 for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">In accounting for our postretirement benefit plan, we record an asset or liability based on the difference between the fair value of the plan's assets and the plan's benefit obligation. Any deferred amounts related to unrecognized gains and losses or changes in actuarial assumptions are recorded on our balance sheets in Account 219 "Accumulated Other Comprehensive Income" (AOCI) until those gains or losses are recognized on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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;">Debt</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We classify our debt based on the contractual maturity dates of the underlying debt instruments. We defer costs associated with debt issuance over the applicable term. These costs are then amortized as interest charges on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that are expected to be recovered from or returned to customers through the ratemaking process. Refer to Note 8 for further information.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">3. Income Taxes</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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 KMI, 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="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record current income taxes based on our taxable income and we provide for deferred income taxes to reflect estimated future tax payments and receipts. Deferred taxes represent the tax impacts of differences between the financial statement and tax bases of assets and liabilities and carryovers at each year end. We account for tax credits under the flow-through method, which reduces the provision for income taxes in the year the tax credits first become available. We reduce deferred tax assets by a valuation allowance when, based on our estimates, it is more likely than not that a portion of those assets will not be realized in a future period. The estimates utilized in the recognition of deferred tax assets are subject to revision, either up or down, in future periods based on new facts or circumstances. Income taxes charged to us are reflected in the accompanying comparative balance sheet in Account 236 "Taxes Accrued" and Accounts 190, 282, and 283 "Accumulated Deferred Income Taxes." A portion of the activity in Account 211 "Miscellaneous Paid-In Capital" reflects the income taxes assigned or advanced to our Member. Current income taxes assigned to our Member are transferred into Account 211 from Account 236. Deferred income taxes advanced to our Member are transferred into Account 211 with an offsetting adjustment to Account 186 "Miscellaneous Deferred Debits." For more information, see Note 7.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; 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; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 275.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 130.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 125.6pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Current:</font></p> </td> <td style="width: 130.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 125.6pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 18pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p> </td> <td style="width: 2.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 105.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 105.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">60</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 18pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">State</font></p> </td> <td style="width: 130.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> <td style="width: 125.6pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 130.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> <td style="width: 125.6pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">71</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 128.6pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 125.6pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Deferred:</font></p> </td> <td style="width: 130.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 125.6pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 18pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p> </td> <td style="width: 130.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> <td style="width: 125.6pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 18pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p> </td> <td style="width: 130.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> <td style="width: 125.6pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 130.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="width: 125.6pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">25</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p> </td> <td style="width: 2.6pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 105.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">86</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 105.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">96</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="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 555.8pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 5.4pt; vertical-align: bottom;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 286.9pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 131.45pt; 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: 4.32pt; padding-left: 4.32pt; 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: 146.05pt; 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: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 556.5pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Income tax expense at the statutory federal rate</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.32pt; 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: 121.48pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">76</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: 5.4pt; padding-left: 4.32pt; 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: 126.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.32pt; 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;">85</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 556.5pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State income tax, net of federal income tax effect</font></p> </td> <td style="width: 131.45pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p> </td> <td style="width: 146.05pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 556.5pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liability amortization</font></p> </td> <td style="width: 131.45pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1)</font></p> </td> <td style="width: 146.05pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1) </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 556.5pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p> </td> <td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.32pt; 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: 121.48pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">86</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: 5.4pt; padding-left: 4.32pt; 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: 126.35pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.32pt; 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;">96</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 556.5pt; border: 0.75pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Effective tax rate</font></p> </td> <td style="width: 131.45pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24%</font></p> </td> <td style="width: 146.05pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.32pt; padding-left: 4.32pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24%</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 272.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax liabilities:</font></p> </td> <td style="width: 123.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 128.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Property, plant and equipment</font></p> </td> <td style="width: 6.3pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">145</font></p> </td> <td style="width: 2.6pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 104.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">130</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Equity investment</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Benefits and compensation</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">41</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 123.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">19</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax liabilities</font></p> </td> <td style="width: 123.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">225</font></p> </td> <td style="width: 128.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">205</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 122.4pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 128.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax assets:</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">15</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p> </td> <td style="width: 123.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax assets</font></p> </td> <td style="width: 123.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">29</font></p> </td> <td style="width: 128.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net deferred tax liability</font></p> </td> <td style="width: 6.3pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 96pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">196</font></p> </td> <td style="width: 4.1pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; 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: 104.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">178</font></p> </td> </tr> </table> <p style="margin-top: 14pt; margin-bottom: 14pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">4. Utility Plant</font></p> <p style="margin-top: 14pt; margin-bottom: 14pt; font-size: 16pt;"><font style="font-family: Arial;">Our net utility plant consisted of the following (in millions):</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 183.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; 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: 281pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Rates (%)</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 137pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; 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; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transmission and storage facilities</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">1.09 &#8211; 2.32</font></p> </td> <td style="width: 22.8pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 98.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,278</font></p> </td> <td style="width: 33.8pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 91.7pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,155</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">General plant </font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">1.66 - 20.00</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">37</font></p> </td> <td style="width: 137pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">36</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Intangible plant</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">4.00 - 15.00</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">8</font></p> </td> <td style="width: 137pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; 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: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">(2,210)</font></p> </td> <td style="width: 137pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2,141) </font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 22.8pt; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 98.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,113</font></p> </td> <td style="width: 33.8pt; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 91.7pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,064</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 137pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; 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: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;"> &#160;</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; 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: 137pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; 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: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Construction work in progress</font></p> </td> <td style="width: 183.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.5pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">58</font></p> </td> <td style="width: 137pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">45</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 369.9pt; border: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.25pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net utility plant</font></p> </td> <td style="width: 183.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 22.8pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 98.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,175</font></p> </td> <td style="width: 33.8pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.75pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 91.7pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.25pt; padding-left: 5.75pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 0.1pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,113</font></p> </td> </tr> </table> <p style="margin-top: 14pt; margin-bottom: 14pt; text-align: justify;"><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 2.4%.</font></p> <p style="margin-top: 14pt; margin-bottom: 14pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">5. Debt</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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 provides detail on the principal amount of our outstanding debt balances (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 272.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="5"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 555.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.9pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 128.4pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">7.50% Debentures due November 2026</font></p> </td> <td style="width: 34.8pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.9pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 88.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 4.5pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">200</font></p> </td> <td style="width: 54.1pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.9pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 73.3pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 4.35pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">200</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">3.50% Senior Notes due February 2032</font></p> </td> <td style="width: 124.4pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p> </td> <td style="width: 128.9pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">8.375% Notes due June 2032</font></p> </td> <td style="width: 124.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p> </td> <td style="width: 128.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 557.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total long-term debt</font></p> </td> <td style="width: 33.8pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 69pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">800</font></p> </td> <td style="width: 7.5pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 99.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">800</font></p> </td> </tr> <tr> <td style="width: 576pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 54.9pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 89.1pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 28.6pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 45.6pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 74.3pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> </table> <p style="margin: 0pt 45pt 0pt 27pt; text-indent: -27pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">KMI and substantially all of its wholly owned domestic subsidiaries, including us, are a party to a cross guarantee agreement whereby each party to the agreement unconditionally guarantees, jointly and severally, the payment of specified indebtedness of each other party to the agreement.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Debt Covenants</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Under our various financing documents, we are subject to certain restrictions and covenants. The most restrictive of these include limitations on the incurrence of liens and limitations on sale-leaseback transactions. For the years ended December 31, 2024 and 2023, we were in compliance with our debt-related covenants.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">6. Retirement Benefits </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Pension and Retirement Savings Plans</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">KMI maintains a pension plan and a retirement savings plan covering substantially all of its U.S. employees, including certain of our former employees. The benefits under the pension plan are determined under a cash balance formula. Under its retirement savings plan, KMI contributes an amount equal to 5% of participants' eligible compensation per year. KMI is responsible for benefits accrued under its plans and allocates certain costs based on a benefit allocation rate applied on payroll charged to its affiliates.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits Plan</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We provide postretirement benefits, including medical benefits for a closed group of retirees. Medical benefits for pre-age 65 participants of this closed group may be subject to deductibles, co-payment provisions, dollar caps and other limitations on the amount of employer costs, and are subject to further benefit changes by KMI, the plan sponsor. Post-age 65 Medicare eligible participants are provided a fixed subsidy to purchase coverage through a retiree Medicare exchange. In addition, certain former employees continue to receive limited postretirement life insurance benefits. Our postretirement benefit plan costs were prefunded and were recoverable under prior rate case settlements. There is no cost recovery or related funding that is required as part of our current FERC-approved rates; however, we can seek to recover any funding shortfall that may be required in the future. We do not expect to make any contributions to our postretirement benefit plan in 2025, and there were no contributions made in 2024 and 2023.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-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;">Postretirement Benefit Obligation, Plan Assets and Funded Status</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our postretirement benefit obligation and net benefit cost (credit) are primarily based on actuarial calculations. We use various assumptions in performing these calculations, including the discount rate used in calculating the benefit obligation, the return that we expect to earn on our plan assets, the estimated cost of health care when benefits are provided under our plan and other factors. The service and interest cost components of net periodic benefit cost (credit) for our postretirement benefit plan are estimated by utilizing a full yield curve approach by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to their underlying projected cash flows.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The table below provides information about our postretirement benefit plan as of and for each of the listed periods (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 4.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 272.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 119.4pt; border-top: 1.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 132.9pt; border-top: 1.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="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: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Change in plan assets:</font></p> </td> <td style="width: 119.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets - beginning of period</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">168</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">149</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Actual return on plan assets</font></p> </td> <td style="width: 119.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">18</font></p> </td> <td style="width: 132.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">23</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Employer transfers</font></p> </td> <td style="width: 119.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(12)</font></p> </td> <td style="width: 132.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(4)</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Benefits paid</font></p> </td> <td style="width: 119.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1)</font></p> </td> <td style="width: 132.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">- </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets - end of period</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">173</font></p> </td> <td style="width: 0.9pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">168</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 560.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 117.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Change in postretirement benefit obligation:</font></p> </td> <td style="width: 119.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligation - beginning of period</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Benefits paid</font></p> </td> <td style="width: 119.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1)</font></p> </td> <td style="width: 132.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">- </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligation - end of period</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> <td style="width: 0.9pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 560.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 117.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Reconciliation of funded status:</font></p> </td> <td style="width: 119.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Fair value of plan assets</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">173</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">168</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Less: Postretirement benefit obligation</font></p> </td> <td style="width: 119.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> <td style="width: 132.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Net asset at December 31</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">169</font></p> </td> <td style="width: 0.9pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 110.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">163</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 27pt; margin-bottom: 0pt; text-indent: 9pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-indent: -18pt; -aw-import: list-item; -aw-list-level-number: 0; -aw-list-number-format: '(%0)'; -aw-list-number-styles: 'decimal'; -aw-list-number-values: '1'; -aw-list-padding-sml: 3.33pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial;">(1)</font><font style="width: 3.33pt; font: 7pt 'Times New Roman'; display: inline-block; -aw-import: spaces;"> &#160;</font></font><font style="font-family: Arial;">Net asset amounts are included in Account 128 "Other Special Funds" on our balance sheets.</font></p> <p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt;">&#160;<font style="-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;">Components of AOCI</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The amounts included in AOCI as of December 31, 2024 and 2023 of $26 million and $18 million, net of income taxes of $9 million and $6 million, respectively, are primarily related to unrecognized gains.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Plan Assets</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The primary investment objective of our plan is to ensure that, over the long-term life of the plan, an adequate pool of sufficiently liquid assets exists to meet the benefit obligations to retirees and beneficiaries. Investment objectives are long-term in nature covering typical market cycles. Any shortfall of investment performance compared to investment objectives is generally the result of economic and capital market conditions. Although actual allocations vary from time to time from our targeted allocations, the target allocations of our postretirement plan's assets are 39% fixed income and 61% equity.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Below are the details of the postretirement benefit plan assets by class and a description of the valuation methodologies used for assets measured at fair value.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-top: 14pt; margin-left: 46.8pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">Level 2 assets' fair values are primarily based on pricing data representative of quoted prices for similar assets in active markets (or identical assets in less active markets). Included in this are short term investment funds which are valued at cost plus calculated interest; and</font></li> </ul> <ul style="margin: 0pt; padding-left: 0pt;" type="disc"> <li style="margin-left: 46.8pt; margin-bottom: 14pt; text-align: justify; padding-left: 8.4pt; font-family: serif; font-size: 10pt; -aw-font-family: 'Symbol'; -aw-font-weight: normal; -aw-number-format: '&#61623;';"><font style="font-family: Arial; font-size: 16pt;">Plan assets with fair values that are based on the net asset value per share, or its equivalent (NAV), as a practical expedient to measure fair value, as reported by the issuers are determined based on the fair value of the underlying securities as of the valuation date and include common/collective trust funds. Plan assets measured at NAV are not categorized within the fair value hierarchy described above, but are separately identified in the table below.</font></li> </ul> <p style="margin-top: 0pt; margin-left: 27.6pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Listed below are the fair values of the plan's assets that are recorded at fair value by class and categorized by fair value measurement used at December 31, 2024 and 2023 (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="width: 982.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 756.5pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 81.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 83.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 21.6pt;"> <td style="width: 756.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 80.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 82.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 756.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investment within fair value hierarchy: Short-term investment fund (money market) measured at Level 2</font></p> </td> <td style="width: 3.8pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 56.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 756.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investments measured at NAV</font></p> </td> <td style="width: 3.8pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 56.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">171</font></p> </td> <td style="width: 15.5pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 46.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">166</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 756.5pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Investments at fair value</font></p> </td> <td style="width: 3.8pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 56.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">173</font></p> </td> <td style="width: 15.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 46.3pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">168</font></p> </td> </tr> <tr> <td style="width: 775.1pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 25.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.5pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 19.1pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 27pt; margin-bottom: 0pt; text-indent: -27pt; 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-left: 27pt; margin-bottom: 0pt; text-indent: -27pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Expected Payment of Future Benefits</font></p> <p style="margin-top: 0pt; margin-left: 27pt; margin-bottom: 0pt; text-indent: -27pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2024, we expect to make the following benefit payments under our plan (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year</font></p> </td> <td style="width: 123.9pt; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Total</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2025</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 104.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2026</font></p> </td> <td style="width: 123.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2027</font></p> </td> <td style="width: 123.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2028</font></p> </td> <td style="width: 123.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2029</font></p> </td> <td style="width: 123.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2030-2034</font></p> </td> <td style="width: 123.9pt; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> </table> <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;">Actuarial Assumptions and Sensitivity Analysis</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefit obligations and net benefit costs are based on actuarial estimates and assumptions. The following table details the weighted average actuarial assumptions used in determining our postretirement plan obligations and net benefit costs.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="width: 879pt; border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 123.9pt; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Assumptions related to benefit obligation at December 31:</font></p> </td> <td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Discount rate</font></p> </td> <td style="width: 134.4pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.43%</font></p> </td> <td style="width: 125.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.08%</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Assumptions related to benefit costs for the year ended December 31:</font></p> </td> <td style="width: 134.4pt; 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="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 125.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Discount rate </font></p> </td> <td style="width: 134.4pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.08%</font></p> </td> <td style="width: 125.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.37%</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 561.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Expected return on plan assets</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 134.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.00%</font></p> </td> <td style="width: 125.4pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.00%</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 27pt; margin-bottom: 0pt; text-align: justify;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 72pt; margin-bottom: 0pt; text-indent: -18pt; text-align: justify; -aw-import: list-item; -aw-list-level-number: 1; -aw-list-number-format: '(%1)'; -aw-list-number-styles: 'decimal'; -aw-list-number-values: '1'; -aw-list-padding-sml: 3.33pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial;">(1)</font><font style="width: 3.33pt; font: 7pt 'Times New Roman'; display: inline-block; -aw-import: spaces;"> &#160;</font></font><font style="font-family: Arial;">The expected return on plan assets listed in the table above is a pre-tax rate of return based on our portfolio of investments. We utilize an after-tax</font></p> <p style="margin-top: 0pt; margin-left: 72pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">expected return on plan assets to determine our benefit costs which reflects expected unrelated business income taxes.</font></p> <p style="margin-top: 0pt; margin-left: 72pt; margin-bottom: 0pt; text-align: justify;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Actuarial estimates for our postretirement benefits plan assumed a weighted average annual rate of increase in the per capita costs of covered health care benefits of 4.00% per year.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Component of Net Benefit Credit</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The component of net benefit credit is as follows (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 560.4pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 275.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="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: 560.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 131.8pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 123.9pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: 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: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Expected return on plan assets</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 5px solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 112.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 5px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">(8)</font></p> </td> <td style="width: 8.2pt; border-top: 4.5pt solid #000000; border-bottom: 5px solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 94.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 5px solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(7) </font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; -aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">7. Related Party Transactions</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Proprietary Capital</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects changes to our proprietary capital accounts resulting from distributions paid to our Member, as well as other changes in certain proprietary capital accounts (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="width: 878.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt;"> <td style="width: 397.35pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 439.95pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="8"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 397.35pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 205.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 213.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 21.6pt;"> <td style="width: 397.35pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 97.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 87.95pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 88.6pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 105.2pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> </tr> <tr style="height: 14.4pt;"> <td style="width: 397.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 97.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p> </td> <td style="width: 87.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p> </td> <td style="width: 88.6pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p> </td> <td style="width: 105.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - Beginning of Year</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 78.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,511</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 68.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 49.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,502</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 65.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <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: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net Income, less equity in earnings of Mojave</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">271</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">303 </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer of net earnings from Account 216</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">225</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">(225)</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">304</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(304) </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 236</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">63</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">87</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 186</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">23</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> <td style="width: 18.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin: 0pt 3.6pt 0pt 21.6pt; font-size: 16pt;"><font style="font-family: Arial;">Total Transfers</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">311</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(225) </font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">404</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(304) </font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions of pre-tax earnings</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(311)</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(404)</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions as return of capital</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 18.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin: 0pt 3.6pt 0pt 21.6pt; font-size: 16pt;"><font style="font-family: Arial;">Total Distributions to Member</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">(311)</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(404)</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Cash distributions of earnings from Mojave</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font>&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capital contributions from Member</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 78.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 68.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> <td style="width: 17.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 49.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> <td style="width: 18.2pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 65.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 395.85pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 76.7pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 66.75pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 17.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 48.3pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 18.2pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 63.9pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt;"> <td style="width: 398.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - End of Year</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 78.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,533</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 68.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">90</font></p> </td> <td style="width: 17.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 49.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,511</font></p> </td> <td style="width: 18.2pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 65.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 27pt; margin-bottom: 0pt; text-indent: -27pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-indent: -18pt; -aw-import: list-item; -aw-list-level-number: 0; -aw-list-number-format: '(%0)'; -aw-list-number-styles: 'decimal'; -aw-list-number-values: '1'; -aw-list-padding-sml: 3.33pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial;">(1)</font><font style="width: 3.33pt; font: 7pt 'Times New Roman'; display: inline-block; -aw-import: spaces;"> &#160;</font></font><font style="font-family: Arial;">Settlements of these amounts are made within equity and are considered non-cash financing activities.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; 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="-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 participate in</font> <font style="font-family: Arial;">KMI's</font> <font style="font-family: Arial;">cash management program, which matches the short-term cash surpluses and needs of participating affiliates, thus minimizing total borrowings from outside sources. KMI uses the cash management program to settle intercompany transactions between participating affiliates. As of December 31, 2024 and 2023, we had no balance with KMI under the cash management program. The interest rate on this note is variable and was 4.7% and 5.6% as of December 31, 2024 and 2023, respectively.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table summarizes our other balance sheet affiliate balances (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="width: 879pt; border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p> </td> <td style="width: 491.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" rowspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 267.9pt; border-bottom: 0.75pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 119.4pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 128.4pt; border-top: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">146</font></p> </td> <td style="width: 491.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts receivable from associated companies</font></p> </td> <td style="width: 0.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 96.9pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> <td style="width: 0.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 105.9pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">174</font></p> </td> <td style="width: 491.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-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: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 96.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 105.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p> </td> <td style="width: 491.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Advance of deferred income taxes to Member</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 96.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">184</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 105.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">161</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">234</font></p> </td> <td style="width: 491.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-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: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 96.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> <td style="width: 0.9pt; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 105.9pt; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 59.05pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; 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: 491.25pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <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: 0.9pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 96.9pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> <td style="width: 0.9pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 105.9pt; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We do not have employees and are managed and operated by KMI, who provides services to us. Under KMI policies, we reimburse KMI at cost for direct and indirect costs incurred on our behalf and allocated general and administrative costs. These costs are reflected, as appropriate, in the "Operation, maintenance and payroll tax expenses" and "Capitalized costs" lines in the table below.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-aw-import: ignore;"> &#160;</font></p> <table style="width: 878.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 580.2pt; border-right: 1pt solid #000000; padding-right: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 267.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="5"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 580.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 119.4pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="3"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 579.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Revenues</font></p> </td> <td style="width: 11.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 107.7pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> <td style="width: 11.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 116.7pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 579.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">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: 130.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">139</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">132</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 579.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capitalized costs</font></p> </td> <td style="width: 130.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">19</font></p> </td> <td style="border-bottom: 1pt solid #000000; padding-right: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 132.8pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">16</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 589.5pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 22.5pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 117pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 6.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 16.1pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 126pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> </table> <p style="margin: 0pt 4.5pt 0pt 36pt; text-indent: -18pt; text-align: justify; -aw-import: list-item; -aw-list-level-number: 0; -aw-list-number-format: '(%0)'; -aw-list-number-styles: 'decimal'; -aw-list-number-values: '1'; -aw-list-padding-sml: 3.33pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial;">(1)</font><font style="width: 3.33pt; font: 7pt 'Times New Roman'; display: inline-block; -aw-import: spaces;"> &#160;</font></font><font style="font-family: Arial;">We receive transportation services from Mojave and</font> <font style="font-family: Arial;">TransColorado</font> <font style="font-family: Arial;">Gas Transmission Company LLC. Included in these totals are expenses for these </font></p> <p style="margin: 0pt 4.5pt 0pt 36pt; text-align: justify;"><font style="font-family: Arial;">services of $41 million and $48 million for the years ended December 31, 2024 and 2023, respectively.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; 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; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Subsequent Events</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Subsequent to December 31, 2024 and through the issuance of this report, we made a distribution to our Member of $113 million, inclusive of amounts representing income taxes, and received a capital contribution from our Member of $2 million.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">8. Rate and Regulatory Matters</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2024, the regulatory assets are subject to recovery in our rates, over a period of approximately one year to 32 years.</font><font style="font-family: Arial; -aw-import: spaces;">&#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; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="width: 1165px; margin-left: 4.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 718.484px; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 418.75px; 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: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 718.109px; border-right: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 176.859px; border-width: 1pt 0.75pt 4.5pt; border-style: solid; border-color: #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: 227.672px; border-width: 1pt 0.75pt 4.5pt; border-style: solid; border-color: #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: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.812px; border: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets (Account 182.3)</font></p> </td> <td style="width: 26.2031px; 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: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: top; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border-width: 1pt 0.75pt 0.75pt; border-style: solid; border-color: #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; 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: 25.8281px; 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: justify; 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text-align: right; font-size: 16pt;"><font style="font-family: Arial;">8</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Gas imbalance cash out</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">46</font></p> </td> <td style="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">33</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; 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: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <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="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">10</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Total regulatory assets </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">63</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; 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text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities (Account 254)</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; 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: 25.8281px; 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: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 135.656px; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">26</font></p> </td> <td style="border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Property and plant depreciation</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> <td style="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Postretirement benefits</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24</font></p> </td> <td style="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Difference between gas retained and gas consumed in operations</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <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="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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; 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: 25.8281px; 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: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 135.656px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p> </td> <td style="border-top: 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; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 719.062px; border: 0.75pt solid #000000; padding-right: 4.68pt; padding-left: 4.68pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Total regulatory liabilities</font></p> </td> <td style="width: 25.8281px; 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: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 135.656px; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.68pt; padding-left: 5.4pt; vertical-align: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">73</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 4.68pt; vertical-align: bottom; width: 62.75px;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 149.547px; 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: middle;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">58</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-left: 72pt; margin-bottom: 0pt; text-align: justify; line-height: 108%;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-left: 13.5pt; margin-bottom: 8pt; text-indent: -13.5pt; text-align: justify; line-height: 108%;"><font style="font-family: Arial;">(1) Includes approximately $57 million and $45 million as of December 31, 2024 and 2023, respectively, of regulatory assets which are recoverable without earning a return.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Our significant regulatory assets and liabilities include:</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Taxes on capitalized funds used during construction. </font><font style="font-family: Arial; font-style: italic; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Amounts represent the deferred income taxes on AFUDC equity funds. </font><font style="font-family: Arial; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">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="-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 imbalance cash out. </font><font style="font-family: Arial; font-style: italic; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Amounts reflect the revenue or cost from cash out activity net of the revenue or cost from operational sales or purchases of gas to offset the net cash out activity.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Income tax related. </font><font style="font-family: Arial; font-style: italic; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Amounts represent the anticipated return to ratepayers of deferred income taxes as a result of the Tax Cuts and Jobs Act of 2017, which lowered the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018. These amounts are amortized to Account 411.1 &#8220;Provision for Deferred Income Taxes &#8211; Credit&#8221; over the remaining depreciable lives of the assets to which they apply. </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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 and plant depreciation. </font><font style="font-family: Arial; font-style: italic; -aw-import: spaces;"> &#160;</font><font style="font-family: Arial;">Amounts represent the deferral of costs previously collected in our rates for the depreciation of certain assets in excess of normal depreciation rates.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement benefits. </font><font style="font-family: Arial; font-style: italic; -aw-import: spaces;">&#160;</font><font style="font-family: arial, helvetica, sans-serif;">Amounts represent (i) the utilization of excess plan assets to fund KMI's&#160;retiree medical costs as permitted by our rate settlement and (ii)&#160;</font><font style="font-family: Arial;">reimbursements of benefit costs which have been collected as a part of past rates.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"><font style="font-family: Arial;"><em>Difference between gas retained and gas consumed in operations.</em>&#160;</font><font style="font-family: Arial;">&#160;</font><font style="font-family: Arial;">Amounts reflect the value of the difference between the quantity of gas retained for fuel and lost and unaccounted for (L&amp;U) and the quantity of gas consumed and L&amp;U experienced in our operations.&#160;</font><font style="font-family: Arial; -aw-import: spaces;">&#160;</font><font style="font-family: Arial;">Pursuant to our tariff, the quantities associated with these amounts are expected to be recovered from or returned to our customers in subsequent periods.</font><font style="font-family: Arial;">&#160;&#160;</font><font style="font-family: Arial;">&#160;On a periodic basis, we file reports with the FERC detailing our volumetric fuel and L&amp;U reimbursement activity and establishing prospective fuel and L&amp;U retention rates. Volumetric over- or under-collections of fuel and L&amp;U quantities from prior periods are trued up through either an addition or reduction to the prospective fuel and L&amp;U retention rates.</font></font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"><font style="font-family: Arial;">&#160;</font></font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-size: 21.3333px;">For the years ended December 31, 2024 and 2023, we recorded a net regulatory expense of $6 million and a net regulatory expense of $27 million, respectively, related to our fuel and L&amp;U activity.</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;">FERC Proceeding</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On April 21, 2022, we were notified by the FERC of the commencement of a rate proceeding against us pursuant to Section 5 of the Natural Gas Act. This proceeding set the matter for hearing to determine whether our current rates remained just and reasonable. A proceeding under Section 5 of the Natural Gas Act is prospective in nature such that a change in rates charged to customers, if any, would likely only occur after the FERC has issued a final order. On November 18, 2022, we filed a Stipulation and Agreement (S&amp;A) to establish reductions in our base rates during the term of the S&amp;A, including a cumulative 16% reduction on average across mainline rate zones, to be phased in over three years beginning January 1, 2023, and a rate moratorium until September 30, 2027.</font> <font style="font-family: Arial;">The FERC approved the S&amp;A without modification on January 31, 2023.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold; font-size: 16pt;">9. Litigation, Environmental and Commitments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Legal Proceedings </font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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="-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;">State of New Mexico v. El Paso Natural Gas LLC, et al. </font><font style="font-family: Arial;">We are one of several pipeline defendants named in a lawsuit filed by the State of New Mexico on February 3, 2022 in the state district court in Santa Fe, New Mexico. The lawsuit alleges that defendants used products containing polychlorinated biphenyls (PCBs) for hydraulic fluids, insulating fluids, and lubricating oils for compressor stations and for other pipeline purposes through the 1970s, and that PCBs were released or discharged into the environment in the course of pipeline operations, thereby contaminating the State of New Mexico's natural resources. Asserting nuisance, negligence, unjust enrichment, and strict liability causes of action, the lawsuit seeks unspecified damages for past and future costs necessary to remediate the state's natural resources and water systems, as well as punitive damages. Trial is scheduled to begin on September 29, 2025.&#160; Given plantiffs' failure to specify damages allegedly sought against us and the fact that the case concerns unspecified acts or omissions that are alleged to have occurred decades ago, we are unable to reasonably estimate the extent of our potential liability, if any, and intend to vigorously defend this case.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Winter Storm Litigation.</font><font style="font-family: Arial;"> On October 19, 2022, Luminant Energy Company LLC (Luminant) filed a third-party petition against us in the 193rd District Court of Dallas County, Texas (No. DC-21-148) alleging that we are required to indemnify Luminant for claims asserted by a producer against Luminant in the case captioned above. The producer alleges that Luminant breached a contract for sale and purchase of natural gas by failing to take and pay for 55,773 million British Thermal Units of gas nominated by Luminant between February 17-22, 2021 during Winter Storm Uri. The producer alleges that it is owed approximately $11.5 million, plus attorney fees and interest. Luminant&#8217;s indemnity claim alleged that we were negligent and in breach of contract for failing to deliver gas and failing to receive and/or process nominations through our electronic information system with reasonable care. On April 8, 2024, the producer filed an amended petition that added direct claims against us seeking the same damages under negligence and tortious interference causes of action. On May 3, 2024, Luminant filed an amended claim against us alleging negligence and seeking approximately $21 million in alleged lost profits for power Luminant asserted it could have sold during the winter storm. On March 10, 2025, after notifying the court that Luminant's&#160;claims against us were settled, all claims asserted by Luminant&#160;were dismissed with prejudice.&#160; On April 8, 2025, after granting motions filed by us and Luminant&#160;for summary judgment on all remaining claims asserted by the producer, the court entered final judgment against the producer.&#160; In the event a motion for reconsideration or notice of appeal is filed by the producer, we intend to continue to vigorously defend the case.&#160;&#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We had no accruals for our 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="-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="-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 (CERCLA) 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="-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;">Superfund Matters. </font><font style="font-family: Arial;">Included in our recorded environmental liabilities are projects where we have received notice that we have been designated or could be designated as a Potentially Responsible Party (PRP) under CERCLA, commonly known as Superfund, or state equivalents for three active sites. Liability under the federal CERCLA statute may be joint and several, meaning that we could be required to pay in excess of our pro rata share of remediation costs. We consider the financial strength of other PRPs in estimating our liabilities.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters set forth in this note, and other matters to which we 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 approximately $10 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; 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;">Commitments</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Rights-of-Way Obligations</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are obligated to make future payments under the terms of certain of our rights-of-way. Future minimum annual rental commitments under our rights-of-way obligations as of December 31, 2024, are as follows (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Commitments</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; 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: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2025</font></p> </td> <td style="width: 5.4pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2026</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2027</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2028</font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2029 </font></p> </td> <td style="width: 128.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Thereafter</font></p> </td> <td style="width: 128.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">36</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 714.4pt; 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;">Total</font></p> </td> <td style="width: 5.4pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 101.4pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">63</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Rental expense on our rights-of-way for the years ended December 31, 2024 and 2023 was approximately $36 million and $32 million, respectively, and is reflected in Account 401 "Operation Expenses" on our income statements.</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">10. Supplemental Cash Flow Information</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table contains supplemental cash flow information (in millions):</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <table style="margin-left: 9pt; border-collapse: collapse;" cellspacing="0" cellpadding="0"> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 560.4pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 271.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="4"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p> </td> <td style="width: 1pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 560.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 123.9pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p> </td> <td style="width: 127.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;" colspan="2"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2023</font></p> </td> <td style="width: 1pt; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 561.9pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Interest paid, net of capitalized interest</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3pt; margin-bottom: 0pt; text-indent: -3pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 104.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">51</font></p> </td> <td style="border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p> </td> <td style="width: 113.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">51</font></p> </td> <td style="width: 1pt; border-bottom: 1pt solid #000000; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> <tr style="height: 25.2pt; -aw-height-rule: exactly;"> <td style="width: 561.9pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net increase in utility plant accruals</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-left: 3pt; margin-bottom: 0pt; text-indent: -3pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 104.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p> </td> <td style="border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </td> <td style="width: 113.8pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.4pt; vertical-align: bottom;"> <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9</font></p> </td> <td style="width: 1pt; border-top: 1pt solid #000000; vertical-align: top;"> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;">&#160;<font style="-aw-import: ignore;"> &#160;</font></p> </td> </tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-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;">11. Recent Accounting Pronouncements</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;">Accounting Standards Update (ASU) No. 2023-09</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; background-color: #ffffff;"><font style="font-family: Arial;">On December 14, 2023, the Financial Accounting Standards Board issued ASU No. 2023-09, </font><font style="font-family: Arial; font-style: italic;">&#8220;Income Taxes (Topic 740): Improvements to Income Tax</font> <font style="font-family: Arial; font-style: italic;">Disclosures.&#8221;</font><font style="font-family: Arial;"> This ASU</font><font style="font-family: Arial; -aw-import: spaces;">&#160; </font><font style="font-family: Arial;">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 style="-aw-import: ignore;"> &#160;</font></p> <p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;"> &#160;</font></p> </div> </div></div> Federal Income Tax Federal Tax Federal 59048849 -55253165 3795684 57060467 1988382 Subtotal Federal Tax 59048849 -55253165 3795684 57060467 1988382 State Income Tax - Arizona State Tax Arizona 5944609 -5652352 292257 5792883 151726 0.0203 State Income Tax - California State Tax California 481805 -458118 23687 469508 12297 0.0016 State Income Tax - Colorado State Tax Colorado 157671 -149919 7752 153647 4024 0.0005 State Income Tax - New Mexico State Tax New Mexico 4260049 -4050611 209438 4151319 108730 0.0145 State Income Tax - Oklahoma State Tax Oklahoma 165291 -157165 8126 161072 4219 0.0006 Texas Margin Tax State Tax Texas 2023 1010907 -54109 956798 -54109 Texas Margin Tax State Tax Texas 2024 923159 923159 923159 Subtotal State Tax 1010907 11878475 956798 -10468165 1464419 11597479 280996 Ad Valorem Tax - Arizona Ad Valorem Tax Arizona 2023 8898896 -671 8898225 -671 Ad Valorem Tax - Arizona Ad Valorem Tax Arizona 2024 15038835 7519772 7519063 15038835 Ad Valorem Tax - California Ad Valorem Tax California 2023 187000 -1112 185888 -1112 Ad Valorem Tax - California Ad Valorem Tax California 2024 373619 187619 186000 373619 Ad Valorem Tax - Colorado Ad Valorem Tax Colorado 2023 378000 -17746 360254 -17746 Ad Valorem Tax - Colorado Ad Valorem Tax Colorado 2024 387000 387000 387000 Ad Valorem Tax - New Mexico Ad Valorem Tax New Mexico 2023 3146923 -273301 2773622 100000 -273301 Ad Valorem Tax - New Mexico Ad Valorem Tax New Mexico 2024 5429999 2730075 2699924 5429999 Ad Valorem Tax - North Carolina Ad Valorem Tax North Carolina 2024 7506 7506 7506 Ad Valorem Tax - Oklahoma Ad Valorem Tax Oklahoma 2023 84058 1272 85330 1272 Ad Valorem Tax - Oklahoma Ad Valorem Tax Oklahoma 2024 169928 84964 84964 169928 Ad Valorem Tax - Texas Ad Valorem Tax Texas 2023 6092941 -178100 5914841 -178100 Ad Valorem Tax - Texas Ad Valorem Tax Texas 2024 7633905 1455207 6178698 7633905 Ad Valorem Tax - Native American Tribes Ad Valorem Tax Native American Tribes 2023 1467000 -24272 979728 463000 -24272 Ad Valorem Tax - Native American Tribes Ad Valorem Tax Native American Tribes 2024 1404926 165926 1239000 1404926 Subtotal Ad Valorem Tax 20254818 29951788 31348957 18857649 29951788 Use Tax - Arizona Sales And Use Tax Arizona 2024 17000 17000 -35 17035 Use Tax - Colorado Sales And Use Tax Colorado 2024 909 591 1500 591 Use Tax - New Mexico Sales And Use Tax New Mexico 2024 90135 90135 339 89796 Use Tax - Texas Sales And Use Tax Texas 2024 -61448 596707 535259 44 596663 Use Tax - Other Sales And Use Tax Other 2024 900 900 900 Subtotal Sales and Use Tax -60539 705333 644794 1248 704085 Payroll - FICA Tax Payroll Tax Federal 2024 4721721 4721721 4721721 Payroll - Unemployment Tax Payroll Tax Federal 2024 144415 144415 144415 Subtotal Payroll Tax 4866136 4866136 4866136 Business Activity Tax Other Taxes Navajo Nation 2023 378000 22140 400140 22140 Business Activity Tax Other Taxes Navajo Nation 2024 1227658 849658 378000 1227658 Subtotal Other Tax 378000 1249798 1249798 378000 1249798 Franchise and Occupation Tax Franchise Tax Various 2024 -25 12640 12640 -25 12640 Subtotal Franchise Tax -25 12640 12640 -25 12640 107713019 39079123 -65721330 104739556 2269378 704085 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 Washington - New Mexico & Texas Underground Storage Compressor Stations 2 9000 32488185 51424 2257247 189065 PT5880H 1 2024-07-14 Subtotal Underground StorageCompressor Stations 2 9000 32488185 51424 2257247 189065 PT5880H 1 Alamo Lake - Arizona Transmission Compressor Stations 2 20500 31392011 -9035 312024 124090 PT2592H 1 2024-08-02 Bowie - Arizona Transmission Compressor Stations 1 12780 10725913 197247 276312 225499 PT3467H 1 2024-02-10 Casa Grande - Arizona Transmission Compressor Stations 5 33710 28518997 254575 543935 268229 PT5790H 2 2024-01-09 Castle Dome - Arizona Transmission Compressor Stations 1 1590 4380431 8828 299361 17845 PT1468H 1 2024-11-21 Cimarron - Arizona Transmission Compressor Stations 1 15000 14644435 558301 316720 873352 PT8393H 1 2024-01-08 Dilkon - Arizona Transmission Compressor Stations 2 27450 26502800 665819 348778 492494 PT3813H 2 2024-10-25 Dragoon - Arizona Transmission Compressor Stations 1 14321 42274700 402673 308833 365121 PT4715H 1 2024-11-29 Dutch Flat - Arizona Transmission Compressor Stations 2 12150 17081552 -20959 370556 76442 PT1729H 1 2024-10-12 Flagstaff - Arizona Transmission Compressor Stations 2 11000 11194413 642 153597 2151 PT0H Hackberry - Arizona Transmission Compressor Stations 2 15270 19132978 356411 702935 542533 PT7186H 2 2024-08-16 Leupp - Arizona Transmission Compressor Stations 18 43260 52592944 852002 3347764 1269910 PT79278H 12 2024-07-14 Navajo - Arizona Transmission Compressor Stations 4 41020 50638812 402123 250292 604626 PT7160H 2 2024-01-04 Oracle - Arizona Transmission Compressor Stations 1 13450 9523546 490958 242767 836973 PT8113H 1 2024-02-10 Picacho Station - Arizona Transmission Compressor Stations 3 8290 29457694 -341 238022 389 PT25H 1 2024-08-22 San Simon - Arizona Transmission Compressor Stations 3 20010 9420856 252950 225699 417602 PT7406H 1 2024-01-12 Seligman - Arizona Transmission Compressor Stations 2 22110 25283766 1424 618106 38518 PT410H 1 2024-05-05 Tom Mix - Arizona Transmission Compressor Stations 2 20620 20049928 292703 200582 631959 PT9538H 2 2024-02-10 Vail - Arizona Transmission Compressor Stations 3 20010 29300163 40455 316408 149820 PT3155H 2 2024-11-05 Wenden - Arizona Transmission Compressor Stations 2 15760 24973071 365346 1019508 531511 PT8577H 2 2024-01-24 Willcox - Arizona Transmission Compressor Stations 2 28000 44655830 389537 469063 652169 PT8780H 1 2024-09-24 Williams - Arizona Transmission Compressor Stations 6 43400 38418747 957606 1862930 1469750 PT17709H 4 2024-07-03 Window Rock - Arizona Transmission Compressor Stations 13 36000 46411391 801636 2869310 1209959 PT57487H 9 2024-08-16 Bondad - Colorado Transmission Compressor Stations 3 18825 20934314 523382 530004 688093 PT17882H 3 2024-01-23 Afton - New Mexico Transmission Compressor Stations 3 21450 14313698 312723 459770 528008 PT8395H 3 2024-08-27 Belen - New Mexico Transmission Compressor Stations 2 11400 17277794 68498 389899 131056 PT5302H 2 2024-10-15 Blanco Plant - New Mexico Transmission Compressor Stations 14 15400 54010602 144661 490772 201422 PT23832H 4 2024-01-23 Bluewater - New Mexico Transmission Compressor Stations 3 21000 15300576 324504 419352 598939 PT14533H 2 2024-02-08 Caprock - New Mexico Transmission Compressor Stations 2 12740 14981012 298407 479302 485959 PT9598H 2 2024-01-04 Eunice - New Mexico Transmission Compressor Stations 4 21672 55491471 390466 1386376 618782 PT17256H 2 2024-09-07 Florida - New Mexico Transmission Compressor Stations 5 46900 55589891 1317831 962449 1991438 PT26967H 5 2024-01-04 Gallup - New Mexico Transmission Compressor Stations 2 34810 29553443 180580 PT0H Laguna - New Mexico Transmission Compressor Stations 3 10200 10367009 161481 775642 113268 PT4142H 2 2024-11-20 Lincoln - New Mexico Transmission Compressor Stations 1 10680 17179449 359873 318184 602344 PT7640H 1 2024-07-13 Lordsburg - New Mexico Transmission Compressor Stations 4 39560 37401985 1143050 829698 1666771 PT21003H 3 2024-01-09 Monument - New Mexico Transmission Compressor Stations 6 8000 13426967 86540 967778 99106 PT10797H 3 2024-02-07 Pecos River - New Mexico Transmission Compressor Stations 3 21450 32775292 326460 619704 593548 PT8739H 3 2024-09-19 Red Mountain - New Mexico Transmission Compressor Stations 1 14321 40013198 11211 416399 209581 PT3008H 1 2024-04-13 Rio Vista - New Mexico Transmission Compressor Stations 3 7820 14810236 247910 PT0H Roswell - New Mexico Transmission Compressor Stations 3 10200 15123571 213791 1626706 262153 PT8645H 2 2024-01-20 San Juan River Mainline - New Mexico Transmission Compressor Stations 3 3480 5790271 193735 PT0H White Rock - New Mexico Transmission Compressor Stations 2 23610 35710109 33 197873 58 PT0H 1 2024-07-09 Amarillo - Texas Transmission Compressor Stations 2 5400 5012212 75828 1064519 62018 PT3303H 2 2024-03-28 Black River - Texas Transmission Compressor Stations 1 15000 16039048 485868 367306 824097 PT8589H 1 2024-09-20 Cornudas - Texas Transmission Compressor Stations 6 52330 65354483 1720420 1235941 2926898 PT41291H 6 2024-04-09 Dimmitt - Texas Transmission Compressor Stations 5 6750 9272326 189580 750917 268999 PT26680H 4 2024-03-29 Dumas - Texas Transmission Compressor Stations 2 11000 13086700 135928 350001 296340 PT7847H 2 2024-05-05 El Paso - Texas Transmission Compressor Stations 5 58880 55508622 1185095 1539468 1863829 PT23448H 4 2024-08-31 Gresham - Texas Transmission Compressor Stations 1 9800 9066115 -4186 160807 247723 PT2982H 1 2024-09-12 Guadalupe - Texas Transmission Compressor Stations 1 31050 23815607 1251716 702548 990074 PT4743H 1 2024-03-25 Hueco - Texas Transmission Compressor Stations 3 21450 25233543 668869 831499 1156640 PT19438H 3 2024-02-11 Keystone Mainline - Texas Transmission Compressor Stations 15 24051 30253445 297061 3840311 482891 PT46697H 9 2024-11-05 Plains - Texas Transmission Compressor Stations 15 25450 21929461 454834 3439760 732490 PT60355H 9 2024-12-01 Puckett - Texas Transmission Compressor Stations 1 2700 7189854 98 297669 176 PT13H 1 2024-11-20 Schafer (Getty) - Texas Transmission Compressor Stations 3 6000 4476841 62406 442530 97108 PT8521H 1 2024-09-06 Waha - Texas Transmission Compressor Stations 5 14640 39811343 1291 1004469 881354 769 12979480 PT5389H 3 2024-08-15 Wink - Texas Transmission Compressor Stations 3 23100 29383183 77984 384012 294975 PT7247H 2 2024-10-10 Subtotal TransmissionCompressor Stations 213 1136820 1442058649 19546604 1004469 43074277 29836496 12979480 PT701073H 138 1474546834 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 Kinder Morgan, Inc. directly owns 97.58% of Kinder Morgan Energy Partners, L.P. and 100% of Kinder Morgan GP LLC. Wilson Sporting Goods Company holds a 45% interest in Cross Country Development, L.L.C. See Page 102, "Control Over Respondent" for a description of our ownership structure. Depreciation expense $ 99,574,089 Expenses of nonutility operations 138,000 Total $ 99,712,089 Depreciation expense $ 97,407,402 Depreciation expense for asset retirement costs 26,724 Expenses of nonutility operations 138,000 Total $ 97,572,126 Account 134 - Other special deposits $ 51,045 Account 134 - Other special deposits $ 49,054 Account 134 - Other special deposits $ 53,193 All Accumulated Other Comprehensive Income is related to unrecognized gains on post-retirement benefit plan assets. Equity in earnings of subsidiary companies $ 4,733,584 Cash distribution of earnings from Mojave Pipeline Company, L.L.C. (Mojave) (4,733,584) Total $ - Equity in earnings of subsidiary companies $ 5,395,074 Cash distribution of earnings from Mojave (5,395,074) Total $ - Account Amount 232 $ 2,260,220 242 11,560 Total $ 2,271,780 Account Amount 407.3 $ 523,677 254 193,111 Total $ 716,788 Recorded pursuant to Docket No. CP96-321 and RP10-1398. Amortized using the transmission depreciation rate of 2.20%. Recorded pursuant to Docket No. CP93-253 and RP10-1398. Amortized using the transmission depreciation rate of 2.20%. Recorded pursuant to Docket No. RP08-426 and RP10-1398. Recorded pursuant to Docket No. RP19-73-006. Amortized over 22.6 years beginning January 2023. Recorded pursuant to terms of our Settlement in Docket No. RP19-73-006. No amortization during term of RP19-73-006. EPNG may propose treatment of this regulatory liability in its next general Section 4 proceeding. Recorded pursuant to Medicare Program Medicare Prescription Drug Benefit, final rule issued on January 28, 2005 and FERC Order No. 552 issued on March 31, 1993. Recorded pursuant to Docket No. RP05-422. Recorded pursuant to Docket No. RP05-422.Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates. In accordance with FERC Order No. 581, we use the fixed asset method. Operated by Mojave Pipeline Company, L.L.C. Industry Research: FIS Capital Markets US LLC The Certificated Storage Capacity was converted from Mcf to Dth using a 1.023 conversion factor. Gas withdrawn from storage for system balancing purposes. Gas withdrawn from storage for system balancing purposes. Gas delivered to storage for system balancing purposes. Gas delivered to storage for system balancing purposes. Many of the natural gas volumes required to be reported on this page are tracked at the entity level, rather than by discounted, negotiated or recourse rate contracts; therefore, the amounts reported have been allocated to discounted, negotiated or recourse rate contracts based on reasonable assumptions. The value of this gas is based on the current month cash-out price provided for in our tariff. This footnote applies to all periods within the quarter. Shipper supplied gas and gas lost and unaccounted for are not directly charged to an account. As directed under FERC Order No. 581, we record "Other Regulatory Assets/Liabilities" (Accounts 182.3 / 254) through offsetting entries booked to "Regulatory Debits/Credits", (Accounts 407.3/.4) for any excess or deficiency in net shipper supplied gas (Line 37). This footnote applies to Lines 4 and 26 for all periods within the quarter. Dth (e) Dollars (i) Off System Gas Used - Dr. 854 / Cr. 810 15,155 $ 7,752 Other Gas Used - Dr. 856 / Cr. 812 88,075 45,050 Other Electric Equivalent Use - Dr. 855 / Cr. 131 143,363 73,330 Total Gas Used for Other Operations 246,593 $ 126,132 Plant in Service balance per Page 110, Line 2, Column (c) $ 4,327,617,918 Less: Acquisition Adjustments Page 200, Line 12, Column (b) 501,698 Ending Balance per Page 200, Line 8, Column (b) $ 4,327,116,220 Page 110, Line 2, Column (d) $ 4,210,226,073 Less: Account 114 501,698 Page 204, Line 129, Column (b) $ 4,209,724,375 Page 110, Line 2, Column (c) $ 4,327,617,918 Less: Account 114 501,698 Page 204, Line 129, Column (g) $ 4,327,116,220 See Page 332 for additional details on Transmission and Compression of Gas by Others. Accumulated depreciation has been allocated using the applicable FERC approved rate over time applied to gross plant for each incremental facility. We record and compute book depreciation on a composite basis. Our methodology for allocating depreciation to incremental facilities for cost allocation and rate design purposes in a Section 4 filing may differ from that displayed here. Our cost of debt is based on actual costs incurred. The cost rate percentage of common equity is based on the approved rate in Docket No. RP10-1398-000. Transmission: Rate: Transmission Facilities 2.32%* Willcox Lateral 2.32%* Willcox Expansion 2.32%* * Includes 0.12% for Negative Salvage Account Amount 182.3 $ 193,111 407.4 1,455,079 813 301,765 Total $ 1,949,955 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 $ 5,262,815 108 1,015,388 186 294,144 408.1 4,240,197 814 19,904 817 122,784 818 238,254 832 69,879 834 107,439 850 10,135,323 851 2,058,070 852 1,825 853 8,891,236 856 10,073,094 857 4,077,143 861 2,553,174 862 4,034 863 10,641,048 864 5,058,089 865 1,144,951 866 1,669 867 3,468 920 7,106,188 Total $ 73,120,116 See Page 218, "General Description of Construction Overhead Procedure" for the basis of allocation. Account Amount 107 $ 9,761,049 186 1,787,000 Total $ 11,548,049 Account Amount 489.2 $ 108,326 495 (443) Total $ 107,883 Account Amount 489.2 $ 2,876,093 495 (4,414) Total $ 2,871,679 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 $ 175,692,022 Use tax is distributed to various accounts based on the accounts charged for the originating invoice. We had no balance with Kinder Morgan, Inc. (KMI) under the cash management program as of December 31, 2024 and 2023. For further discussion of our participation in KMI's cash management program, see page 122.1 "Notes to Financial Statements," Note 7, "Related Party Transactions." This project has separately tracked fuel retention rates. During 2024, we retained 923,738 Dth of gas from our shippers and we consumed 660,539 Dth of gas. Accumulated deferred income tax is a computed amount representing the tax impact on the difference between allocated composite book depreciation amounts and tax depreciation for each incremental facility. We record and compute book depreciation on a composite basis. Our methodology for allocating deferred income taxes to incremental facilities for cost allocation and rate design purposes in a Section 4 filing may differ from that displayed here. Operating expenses are allocated based on gross plant amounts. Our methodology for cost allocation and rate design purposes may differ in a Section 4 rate filing. Maintenance expenses are allocated based on gross plant amounts. Our methodology for cost allocation and rate design purposes may differ in a Section 4 rate filing. Other Expenses (including taxes) are allocated primarily based on assessed value. Our methodology for cost allocation and rate design purposes may differ in a Section 4 rate filing. Page 204, Line 92, Column (g) $ 4,217,662 Less: Santan (Fully Depreciated) 2,190 Less: Land 3,650 $ 4,211,822 Page 204, Line 129, Column (d) $ 21,578,475 Less: Intangible Plant Retirements 6,370,638 Book Cost of Plant Retired $ 15,207,837 Intangible Plant (in thousands) Page 204, Line 5, Column (g) $ 8,000 Less: Organization Costs (Fully Depreciated) 43 $ 7,957 General Plant: Rate: Structures and Improvements 4.00% Computer Equipment 20.00% Office Furniture & Equipment 10.00% Transportation Equipment Heavy 1.66% Transportation Equipment Light 13.33% Tools and Work Equipment 10.00% Communications Equipment 10.00% Intangible Plant: Rate: Intangible Plant - Software 15.00% Intangible Plant - Other 4.00% Return of Capital Distribution of Earnings Account Amount 142 $ 7,244,483 489.2 77,896 Total $ 7,322,379 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 $ 195,839,151 As of December 31, 2023, we estimate that the following deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates: SIT Regulatory Asset/Liability $ 723,483 East Valley Lateral 713,236 Reacquired Debt (14,050) Total $ 1,422,669 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: Deferred Investment Tax Credit $ 107,017 Regulatory Liability - DFIT 233,247 Gas Storage 5,569,119 Regulatory Depreciation 3,316,274 ASC 715 Medicare Subsidy 2,097,073 Regulatory Liability - Deferred Income Tax Rate Adjustment 6,535,443 Total $ 17,858,173 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: Deferred Investment Tax Credit $ 102,530 Regulatory Liability - DFIT 213,811 Gas Storage 5,557,734 Regulatory Depreciation 3,155,410 ASC 715 Medicare Subsidy 1,995,749 Regulatory Liability - Deferred Income Tax Rate Adjustment 6,215,172 Total $ 17,240,406 As of December 31, 2024, we estimate that the following deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates: SIT Regulatory Asset/Liability $ 666,470 East Valley Lateral 690,014 Total $ 1,356,484 These revenues are associated with park and loan agreements. The net monthly park and loan volume activity for the quarter is as follows: Dth Net Park/(Loan) Balance - Beginning of Quarter 34,600,488 Month 1 net activity (29,094) Month 2 net activity (1,239,815) Month 3 net activity (1,926,079) Net Quarterly Activity (3,194,988) Net Park/(Loan) Balance - End of Quarter 31,405,500 Account Amount 142 $ 3,203,053 146 4,857 Total $ 3,207,910 Dth (e) Dollars (i) Off System Gas Used - Dr. 854 / Cr. 810 14,276 $ 2,574 Other Gas Used - Dr. 856 / Cr. 812 82,320 14,842 Other Electric Equivalent Use - Dr. 855 / Cr. 131 273,219 49,261 Total Gas Used for Other Operations 369,815 $ 66,677 Dth (e) Dollars (i) Off System Gas Used - Dr. 854 / Cr. 810 15,305 $ 9,197 Other Gas Used - Dr. 856 / Cr. 812 102,442 61,557 Other Electric Equivalent Use - Dr. 855 / Cr. 131 178,493 107,257 Total Gas Used for Other Operations 296,240 $ 178,011 Excludes $118,851 that relates to fuel amounts paid by us to Mojave Pipeline Company, L.L.C. (Mojave) pursuant to our Firm Transportation contract with Mojave. This amount would be excluded in the development of jurisdictional recourse rates. Amounts charged by Kinder Morgan, Inc. through shared services are allocated using the modified Massachusetts Formula. Account Amount 408.1 $ 625,939 920 8,172,492 923 1,459,570 925 1,754,134 926 1,558,298 930.2 2,368,480 931 1,544,027 Total $ 17,482,940 Account Amount 107 $ 595,701 108 108,216 186 49,800 926 2,098,812 Total $ 2,852,529 Recorded pursuant to Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes). We estimate $0.7 million of the ending balance is associated with projects granted non-traditional rate treatment on page 217. Tax Type Transferred to Account 211 "Miscellaneous Paid-in Capital" Transferred from Account 146 "Accounts Receivable from Affiliated Companies" Adjustments Federal Income Tax $ (53,276,431) $ (1,976,734) $ (55,253,165) State Income Tax - Arizona (5,443,080) (209,272) (5,652,352) State Income Tax - California (451,871) (6,247) (458,118) State Income Tax - Colorado (136,109) (13,810) (149,919) State Income Tax - New Mexico (3,911,471) (139,140) (4,050,611) State Income Tax - Oklahoma (153,712) (3,453) (157,165) Subtotal State Income Tax (10,096,243) (371,922) (10,468,165) Total $ (63,372,674) $ (2,348,656) $ (65,721,330) Excludes 215,136 Dth that relates to fuel amounts paid by us to Mojave pursuant to our Firm Transportation contract with Mojave.