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xbrli:pure
utr:mi
utr:MW
iso4217:USD
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utr:dth
utr:dth
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">1. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">2. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">3. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">4. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">5. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">6. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">7. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">8. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">9. See Page 122.1, Notes to Financial Statements, Note 2 "Summary of Significant Accounting Policies."</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">10. None</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">11. None</font></p></div>
<div><p style="line-height: 1;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">12. </font><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">Changes made during the year ended December 31, 2025:</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Appointments:</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; margin-left: .5in; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Vicki A. Phillips – Vice President</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; margin-left: .5in; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Tony Sala – Vice President</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Resignations:</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; margin-left: .5in; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">William E. Morgan – Vice President, Operational Controller</font></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; margin-left: .5in; line-height: normal;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: 'Times New Roman'; color: black;">Christa Robbins – Vice President</font></p></div>
<div><p><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; color: black;">13. N/A</font></p></div>
2
4
6
2
4
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Not Prepared
Kinder Morgan, Inc.
I
DE
0.50
Kinder Morgan Operating LLC "A"
J
DE
0.50
Energy Transfer Partners, LP
I
DE
0.50
ETC Midcontinent Express L.L.C.
J
DE
0.50
1
2
3
4
0
Vicki A. Phillips
Vice President
/s/ Vicki A. Phillips
2026-03-26
2
Midcontinent Express Pipeline LLC
C000235
2025
Q4
1001 Louisiana Street, Suite 1000, Houston, TX 77002
James M. Brossett
Divisional Controller
1001 Louisiana Street, Suite 1000, Houston, TX 77002
713-420-6965
O
2025-12-31
IRIS Carbon
Matthew J. Wojtalewicz
Vice President and Controller
1001 Louisiana Street, Suite 1000, Houston, TX 77002
true
false
Organized as a Limited Liability Company in Delaware on March 1, 2007.
Midcontinent Express Pipeline LLC was engaged in transportation of natural gas in the following states: Alabama, Louisiana, Mississippi, Oklahoma, and Texas.
false
2344686686
2344686686
2344686686
2344686686
5667523
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1096857586
1096857586
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2
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2
3
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629411
629411
69479092
69479092
93126
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69572218
629411
70201629
2317962
0.0300
3217
0.0300
Intangible Plant (footnote details)
20980
0.0300
Other Gas Storage (footnote details)
9
10
1
2
3
4
5
6
Income Tax Gross-up on AFUDC Equity
Remaining life of assets
Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes)
721796
22623
407.3
40468
703951
FERC Annual Charge Adjustment
12 months ending September 30
18 CFR 154.402(a) and 18 CFR 382.202
512183
690517
928
684812
517888
Booster Tracker
Remaining balance at end of current filing period will be recovered through adjustments to future period fuel retention rates
Section 36 of the General Terms and Conditions of our tariff
30783
2238
407.3
33021
Fuel Tracker - Zone 1
Remaining balance at end of current filing period will be recovered through adjustments to future period fuel retention rates
Section 36 of the General Terms and Conditions of our tariff
1027286
407.3
383384
643902
Fuel Tracker - Zone 2
Remaining balance at end of current filing period will be recovered through adjustments to future period fuel retention rates
Section 36 of the General Terms and Conditions of our tariff
236152
407.3
37048
199104
Fuel Tracker - GLU
Remaining balance at end of current filing period will be recovered through adjustments to future period fuel retention rates
Section 36 of the General Terms and Conditions of our tariff
1825596
1825596
1264762
3804412
1178733
3890441
1
2
3
4
5
6
1
Federal Energy Regulatory Commission 2024 Annual Charge Adjustment (Amortized over 1 year)
682911
682911
512183
182.3
512183
Federal Energy Regulatory Commission 2025 Annual Charge Adjustment (Amortized over 1 year)
690517
690517
690517
182.3
172629
517888
Professional and Other Fees
125
125
125
232
125
1373428
125
1373553
512183
690642
684937
517888
1
2
3
903650
903650
12044343
12044343
12210755
12210755
278201
278201
1015439
1015439
321168
321168
3.1617
3.1617
20980381
20980381
20980381
20980381
2526704
2526704
60229269
60229269
1693271
131962
1825233
1901460282
184608
1901644890
309212045
8735025
4225756
313721314
41797701
1256204
40541497
2316919272
9051595
5481960
2320488907
603582
42207
645789
1176121
112894
1289015
977730
109816
1087546
173780
173780
13384
7884
21268
2944597
272801
3217398
2944597
272801
3217398
2340844250
9324396
5481960
2344686686
2340844250
9324396
5481960
2344686686
Compressor Overhauls and Turbine Exchanges
4624758
161704
Miscellaneous Construction Projects Under $1,000,000
1042765
429508
591212
1
2
169399
Health and life insurance
724966
Long-term disability insurance
15323
401K Employer contributions
251130
Other
780
1161598
6
7
8
9
Federal Income Tax
Federal Tax
Federal
9068521
-9068521
9007445
61076
Subtotal Federal Tax
9068521
-9068521
9007445
61076
State Income Tax - Alabama
State Tax
Alabama
57124
-57124
57124
0.0007
State Income Tax - Arkansas
State Tax
Arkansas
10322
-10322
10322
0.0001
State Income Tax - Louisiana
State Tax
Louisiana
1964071
-1964071
1964071
0.0225
State Income Tax - Mississippi
State Tax
Mississippi
1028312
-1028312
1028312
0.0118
State Income Tax - Oklahoma
State Tax
Oklahoma
50300
-50300
50300
0.0006
Subtotal State Tax
3110129
-3110129
3110129
Ad Valorem Tax - Alabama
Ad Valorem Tax
Alabama
2025
73178
73178
73178
Ad Valorem Tax - Louisiana
Ad Valorem Tax
Louisiana
2024
579699
-1253
578446
-1253
Ad Valorem Tax - Louisiana
Ad Valorem Tax
Louisiana
2025
6055324
5428650
626674
6055324
Ad Valorem Tax - Mississippi
Ad Valorem Tax
Mississippi
2024
5527678
11319
5538997
11319
Ad Valorem Tax - Mississippi
Ad Valorem Tax
Mississippi
2025
6322000
6322000
6322000
Ad Valorem Tax - Oklahoma
Ad Valorem Tax
Oklahoma
2024
66823
66823
Ad Valorem Tax - Oklahoma
Ad Valorem Tax
Oklahoma
2025
147261
73630
73631
147261
Ad Valorem Tax - Texas
Ad Valorem Tax
Texas
2024
1803039
1803039
Ad Valorem Tax - Texas
Ad Valorem Tax
Texas
2025
2198397
344655
1853742
2198397
Subtotal Ad Valorem Tax
7977239
14806226
13907418
8876047
14806226
Use Tax - Alabama
Sales And Use Tax
Alabama
2025
Use Tax - Louisiana
Sales And Use Tax
Louisiana
2025
5286
100931
98507
7710
75315
25616
Use Tax - Mississippi
Sales And Use Tax
Mississippi
2025
2379
48050
47815
2614
31896
16154
Use Tax - Oklahoma
Sales And Use Tax
Oklahoma
2025
110
110
110
Use Tax - Texas
Sales And Use Tax
Texas
2025
31211
31211
31211
Subtotal Sales And Use Tax
7665
180302
177643
10324
107211
73091
Payroll - FICA Tax
Payroll Tax
Federal
2025
460050
460050
460050
Payroll - Unemployment Tax
Payroll Tax
Federal
2025
14605
14605
14605
Subtotal Payroll Tax
474655
474655
474655
Miscellaneous Tax, Licenses and Fees
Miscellaneous Other Tax
Alabama
2025
259
15000
15000
259
15000
Miscellaneous Tax, Licenses and Fees
Miscellaneous Other Tax
Louisiana
2025
105
105
105
Subtotal Miscellaneous Other Tax
259
15105
15105
259
15105
7985163
27654938
14574821
-12178650
8886630
27520771
61076
73091
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
Other (less than $250,000)
3200
3200
1
2
4
5
7
8
10
11
13
14
16
17
19
20
22
23
2788609
2788609
2461149
2461149
5249758
5249758
1149820
1149820
1149820
1149820
3938429
3938429
2461149
2461149
6399578
6399578
6399578
6399578
393513
393513
393513
393513
272376
272376
272376
272376
Account 186
6072
6072
6072
6072
7071539
7071539
74
738523
12032542
2061477
14094019
738523
12032542
2061477
14094019
738523
12032542
2061477
14094019
Account 136 - Temporary Cash Investment
8
7
5
4
2
1
Account 489.2 Revenues from transportation of others through transmission facilities
120237160
240010864
110187723
181868318
120237160
240010864
110187723
181868318
1
Alabama
AL
Fully Owned and Operated by Respondent
5.7
Louisiana
LA
Fully Owned and Operated by Respondent
204.1
Mississippi
MS
Fully Owned and Operated by Respondent
160.0
Oklahoma
OK
Fully Owned and Operated by Respondent
8.7
Texas
TX
Fully Owned and Operated by Respondent
134.2
512.7
512.7
1
2
3
4
5
6
7
8
9
10
FERC Form 2 MEP System Map 2026.pdf
1
2026-01-19
1249399
114389
1363788
116162
20
116182
1365561
114409
1479970
54154
4559
58713
Operational Balancing Agreement
3188
808
3996
57342
5367
62709
2025-12-07
3552181
464562
4016743
335353
5
335358
3887534
464567
4352101
45133
5362
50495
Operational Balancing Agreement
39022
1900
40922
84155
7262
91417
706550
662571
254597276
235662081
255303826
236324652
495384997
473264871
20
20
706550
662571
254597276
235662101
255303826
236324672
706550
662571
254597276
235662101
255303826
236324672
Zone 1 IT
6293
1570
325790
179644
332083
181214
4221704
1045503
Zone 1 FT
13341
4424
847091
138072
860432
142496
3307226
3159688
Zone 2 IT
191
57
67501
81352
67692
81409
136501
123416
Zone 2 FT
686725
656520
249233512
227694443
249920237
228350963
487719566
468936264
FTS - Lease Capacity
4202583
4202583
PALS
4123382
3365987
4123382
3365987
: Zone 1
19634
5994
1172881
317716
1192515
323710
7528930
4205191
: Zone 2
686916
656577
249301013
227775795
249987929
228432372
487856067
469059680
: FTS Lease Capacity
4202583
4202583
: Park & Loan
4123382
3365987
4123382
3365987
1
2
3
4
5
6
7
8
9
10
11
189347883
8343785
3879093
16640
193829215
189347883
8343785
3879093
16640
193829215
189347883
8343785
3879093
16640
193829215
162604499
8343785
14677
170962961
26743384
3879093
1963
22866254
244194
21164
3614
261744
244194
21164
3614
261744
244194
21164
3614
261744
209698
21164
230862
34496
3614
30882
28634662
14677049
285144
13672469
28634662
14677049
285144
13672469
28634662
14677049
285144
13672469
25811815
13508002
244302
12059511
2822847
1169047
40842
1612958
43229292
64844
21184182
21249026
41749494
62624
22490928
22553552
45431884
68148
22733038
22801186
43229292
64844
21184182
21249026
41749494
62624
22490928
22553552
45431884
68148
22733038
22801186
Zone 1 - To Perryville
6896886
2007922
1800751
524261
Zone 2 - After Perryville to Transco Choctaw
5028063
1463843
6354250
1849942
Park and Loan
4963458
1260134
3114448
790703
16888407
4731899
11269449
3164906
1
2
3
Midcontinent Express Pipeline LLC
695065
164297
495384997
130410670
4731899
1043717
3884837
1168055
Line Pack Change
504696798
132786739
695064
11356
495384997
130410670
3164906
692378
5370183
1402711
Vent Gas / Other
43367
7871
Heater Fuel
32045
9396
Imbalance Adjustments
-3327
3114
Line Pack Change
-206618
-19698
504480617
132517798
216181
268941
504696798
132786739
16
31
32
33
34
Gas Imbalance Due to Others
5872659
Other (individual items less than $250,000)
6000
5878659
1
2
Deferred Park and Loan Revenue (amortized through July 2026)
489.2
94213
320993
226780
94213
320993
226780
1
Enable Oklahoma Intrastate Transmission, LLC (Capacity Lease)
true
2503834
2503834
1
Storage Encroachment Revaluation
-278201
Imbalance Revaluation
-351574
Lost and Unaccounted for Valuation
638486
8711
1
2
3
15848
Shared Service Allocations
263202
279050
6
<div><p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">1. Construction Overhead</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; 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> </p></div>
1280034191
Midcontinent Express Pipeline LLC
1.0000
0.13
1280034191
1.0000
959501
0.13
0.0315
0.0715
120007460
3916547
Contribution in Aid of Construction
30512
Capitalized Interest - Tax
3947059
27879799
Federal Income Tax
70201629
Book Depreciation and Amortization
17845
AFUDC Regulatory Asset
33193
Meal and Entertainment
3200
Non-Deductible Lobbying and Contributions
422942
Cashout Tracker
226780
Park and Loan
98785388
2670855
State Deferred Income Tax
30512
AFUDC - Book Capitalized Interest
69890
AFUDC Equity - Book Capitalized Amount
1038818
Capitalized Overhead - Book
118625
Deferred Revenue
3928700
112073044
Tax Depreciation and Amortization
63083288
Federal Net Operating Loss
404677
Cost of Removal
175561009
43250198
9082542
21% of Taxable Income
-14021
Return to Provision/Other
9068521
Federal Income Tax - Current
5
6
9
10
11
12
13
14
15
18
19
20
21
22
25
26
27
31
32
33
34
35
36
Directly Charged Salaries and Wages
Kinder Morgan, Inc.
Various
6178515
Other Compensation and Benefits
Kinder Morgan, Inc.
Various
1043737
Shared Services
Kinder Morgan, Inc.
Various
2371188
Construction Overheads
Kinder Morgan, Inc.
Various
1420915
Transportation of Gas
Enable Oklahoma Intrastate Transmission, LLC
858
2503834
13518189
Cashout Sale
Tennessee Gas Pipeline Company, L.L.C.
803
2431085
2431085
2
3
4
5
6
9
2344686686
2340844250
471925
2341316175
1032542594
1308773581
1253496623
1308773581
658776
78350
22865068
20154384
107
422
30143
774987
1322912
856440
766068
2205352
5029280
39393272
41475578
182041777
164404883
199604687
194304307
1493510021
1545457116
1221681376
1280034191
1221681376
1280034191
1684244
472894
2283859
909416
530000
380000
3342278
19263392
13089751
1032673
57214841
62741097
252565253
252333174
1493510021
1545457116
255303826
236324672
23253457
17909343
23253457
17909343
4760773
5216810
4760773
5216810
69572218
69473734
69572218
69473734
629411
629411
629411
629411
3528509
8113044
3528509
8113044
8618889
4373458
8618889
4373458
15403197
13678147
15403197
13678147
9007445
3267760
9007445
3267760
3110129
3110129
23041998
27838943
23041998
27838943
7203359
3345425
7203359
3345425
136484889
138408309
136484889
138408309
118818937
97916363
118818937
97916363
801136
742913
69890
33403
653045
1508
1524071
777824
3699
3200
3699
61076
31265
301784
158944
362860
190209
1158011
583916
1885
30512
14583
-30512
-12698
120007460
98512977
98512977
98512977
120007460
Distributions of Earnings to Members
211
-120007460
-98512977
1
69572218
69473734
629411
-3399796
16140423
24652462
-143702
5146654
-547925
504336
17093960
5946298
2625679
-1446650
-2205604
2555455
100402
47986
-94006
-859745
219109408
192629059
13653077
10044417
100402
47986
-2962216
5666787
10590459
15663218
-10590459
-15663218
210000000
172000000
-210000000
-172000000
-1481051
4965841
14172369
9206528
12691318
Amortization of intangible plant
629411
629411
Amortization of service restructuring deferred revenue
-4029207
1
2
Change in gas owed to system
-111789
-717642
Change in prepayments
-90372
95147
Change in miscellaneous deferred debits
-118625
-237250
Change in other deferred credits
226780
1
2
3
4
Net salvage/(cost of removal)
404677
381191
Change in customer advances for construction
-3366893
5285596
1
2
Distributions to Members
210000000
172000000
1
856440
1280034191
-58352815
1221681376
Transfer from Account 216
120007460
Transfer from Account 236
12178650
Transfer from Account 186
19461075
Distributions to Member
-210000000
1
2
3
4
-139611
-53545
92240
-262597
-47371
-316142
5618958
-3125503
12210755
7565585
12044343
8203246
16426398
9861217
874380
-751762
17300778
9109455
-663197
-11554068
-13851958
-11554068
-13851958
1461248
1401667
3743
4268
5514557
5802134
16426398
9861217
1378526
1741162
386632
403162
5546931
389385
303732
11110
26098
28075433
25090371
8495
6155
1965767
2668385
2664358
2461323
109911
74162
12242
6785
4760773
5216810
32836206
30307181
2
2
2
2
2461149
2414461
132514
93095
441232
443520
717579
837418
635644
581475
1124395
684937
706772
285968
218387
183824
6732090
6670928
6732090
6670928
28014230
23126153
854
5370183
Gas Used - Unaccounted For
813
216181
638486
Gas Used - Heater Fuel
856
32045
104084
Gas Used - Vent Gas
856
11996
36464
Gas Used - Greenhouse Gas
856
31371
95346
5661776
5
6
7
8
0
0
120007460
98512977
0
0
0
Enable Oklahoma Intrastate Transmission, LLC
Capacity Lease - 100,000 Dth/day plus additional fuel capacity
2503834
2503834
1
Deferred Income Tax Rate Adjustment (amortized through February 2043)
60070585
411.1
3320652
56749933
Order 637 Penalty
26294
142
26272
7741
7763
Booster Tracker
407.4
3808
11415
7607
Fuel Tracker - Zone 1
1638605
Various
2091150
452545
Fuel Tracker - Zone 2
182078
Various
212528
30450
Fuel Tracker - L&U
796942
407.4
1273753
476811
Cashout Tracker
26593
Various
1381248
1804193
449538
8309411
2783155
1
2
3
4
5
6
7
MEP - 1 (Paris, TX)
Transmission Compressor Stations
6
44990
96433623
5471781
2668461
1788856
PT42664H
6
2025-01-11
MEP - 2 (Atlanta, TX)
Transmission Compressor Stations
4
32720
63530962
3849206
1220884
1258398
PT26167H
4
2025-01-25
MEP - 3 (Perryville, LA)
Transmission Compressor Stations
4
32720
63100573
3657251
1805897
1195643
PT27425H
4
2025-03-08
MEP - 3A (Delhi, LA)
Transmission Compressor Stations
2
9470
29360137
77468
618575
25326
PT1563H
1
2025-01-07
MEP - 4 (Vicksburg, MS)
Transmission Compressor Stations
4
24540
63121253
3370692
1971003
1101960
PT30605H
4
2025-01-23
Subtotal Transmission Compressor Stations
20
144440
315546548
16426398
8284820
5370183
PT128424H
19
315546548
1
2
3
4
5
6
168450
128445
23238
320133
473715
361213
65350
900278
168450
128445
23238
320133
473715
361213
65350
900278
236839
180592
32672
450103
666038
507861
91881
1265780
854
810
236839
180592
32672
450103
666038
507861
91881
1265780
2452
1869
338
4659
6894
5257
951
13102
856
812
2452
1869
338
4659
6894
5257
951
13102
44633
34033
6157
84823
125516
95708
17315
238539
813
812
44633
34033
6157
84823
125516
95708
17315
238539
-115474
-88049
-15929
-219452
-324733
-247613
-44797
-617143
-115474
-88049
-15929
-219452
-324733
-247613
-44797
-617143
Other Dispositions
Gas due from shippers
115474
88049
15929
219452
324733
247613
44797
617143
182.3/254
407.3/407.4
115474
88049
15929
219452
324733
247613
44797
617143
130410670
130410670
10
10
144564
150748
22301
317613
477871
498313
73718
1049902
144564
150748
22301
317613
477871
498313
73718
1049902
202105
210750
31177
444032
668077
696655
103060
1467792
854
810
202105
210750
31177
444032
668077
696655
103060
1467792
2166
2259
334
4759
7160
7467
1105
15732
856
812
2166
2259
334
4759
7160
7467
1105
15732
46670
48666
7200
102536
154273
160872
23799
338944
813
812
46670
48666
7200
102536
154273
160872
23799
338944
-106377
-110927
-16410
-233714
-351639
-366681
-54246
-772566
-106377
-110927
-16410
-233714
-351639
-366681
-54246
-772566
Other Dispositions
Gas due from shippers
106377
110927
16410
233714
351639
366681
54246
772566
182.3/254
407.3/407.4
106377
110927
16410
233714
351639
366681
54246
772566
247577
246983
35749
530309
889462
887328
128434
1905224
247577
246983
35749
530309
889462
887328
128434
1905224
237431
236861
34284
508576
853010
850963
123171
1827144
854
810
237431
236861
34284
508576
853010
850963
123171
1827144
3664
3656
529
7849
13165
13133
1901
28199
856
812
3664
3656
529
7849
13165
13133
1901
28199
38087
37995
5500
81582
136834
136505
19758
293097
813
812
38087
37995
5500
81582
136834
136505
19758
293097
-31605
-31529
-4564
-67698
-113547
-113273
-16396
-243216
-31605
-31529
-4564
-67698
-113547
-113273
-16396
-243216
Other Dispositions
Gas due from shippers
31605
31529
4564
67698
113547
113273
16396
243216
182.3/254
407.3/407.4
31605
31529
4564
67698
113547
113273
16396
243216
Rate Schedule FTS
43219175
64829
20849722
20914551
40842318
61263
22064404
22125667
42520687
63781
22181808
22245589
Rate Schedule ITS
10117
15
1011
1026
907176
1361
54106
55467
2911197
4367
177594
181961
Rate Schedule PALS
333449
333449
372418
372418
373636
373636
1
2
3
Southeastern Pipeline & Environmental Services, Inc.
720950
Other (less Than $250,000)
2093677
2814627
1
2
Advance of Deferred Income Taxes to Members
160957415
19461075
180418490
Revenue Levelization (amortized through October 2026)
276792
197708
489.2
79083
395417
3170676
1227870
19658783
79083
1
2
<div><!--?xml version="1.0" encoding="utf-8" standalone="no"?-->
<div>
<div class="Section_1">
<p style="margin-top: 0pt; margin-bottom: 12pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">1. 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, formed on March 1, 2007. When we refer to "us," "we," "our," "the Company," or "MEP," we are describing Midcontinent Express Pipeline LLC.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The Members' interests in MEP are as follows:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-left: 55.2pt; margin-bottom: 0pt; text-indent: -18pt; text-align: justify; font-size: 16pt;"><font style="font-family: Symbol; font-size: 10pt;"></font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font> <font style="font-family: Arial;">50% - Kinder Morgan Operating LLC "A" (KMOA), an indirect subsidiary of Kinder Morgan, Inc. (KMI); and</font></p>
<p style="margin-top: 0pt; margin-left: 29.2pt; margin-bottom: 0pt; text-align: justify; padding-left: 8pt; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-left: 55.2pt; margin-bottom: 0pt; text-indent: -18pt; text-align: justify; font-size: 16pt;"><font style="font-family: Symbol; font-size: 10pt;"></font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font><font style="font-size: 7pt;">  </font> <font style="font-family: Arial;">50% - ETC Midcontinent Express L.L.C., a subsidiary of Energy Transfer Partners, L.P.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">References to KMI are inclusive of Kinder Morgan Inc. and its consolidated subsidiaries.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our system consists of approximately 515 miles of natural gas transportation pipeline with takeaway capacity, either directly or indirectly, from natural gas producing regions located in Texas, Oklahoma and Arkansas. The pipeline provides the capability to transport natural gas supplies to major pipeline interconnects along its route, which originates near Bennington, Oklahoma and traverses east through Texas, Louisiana and Mississippi to its terminus near Butler, Alabama.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We have prepared our accompanying financial statements in accordance with the accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (GAAP).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The most significant differences between GAAP and the financial statements presented herein are: (i) the deferral of certain costs and revenues, (ii) the classification of certain accounts on the balance sheet and statement of income, and (iii) the inclusion and classification of income taxes in a limited liability company's financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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 March 26, 2026, 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;"> </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;"> </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;"> </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;"> </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;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Allowance for Credit Losses</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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;"> </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;"> </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 differs from the scheduled amount of gas to be delivered or received. We value these imbalances due to or from our shippers and operators at 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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Property, Plant and Equipment</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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;"> </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 most recent FERC approved debt rate. 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;"> </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;"> </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;"> </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 pipeline system, and intend to do so as long as demand for our services exists, which we expect for the foreseeable future. Therefore, we believe that we cannot reasonably estimate the ARO for our assets because these assets have indeterminate lives. We continue to evaluate our ARO and future developments could impact the amounts we record. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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 Impairments</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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. These events include changes in the manner in which we intend to use a long-lived asset, decisions to sell an asset, and adverse changes in the legal or business environment, such as adverse actions by regulators. If an event occurs and if an impairment is indicated, we adjust the carrying value of the asset downward, if necessary and upon regulatory approval, to its estimated recoverable value.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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, 2025 and 2024.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We segregate each class of revenue by account pursuant to the FERC's guidance under Code of Federal Regulations Title 18, Part 201.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">  </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; font-style: italic;">  </font><font style="font-family: Arial;">We recognize revenue when control of the promised services is transferred to customers and in an amount that reflects the consideration we expect to receive for those services. Review of our contracts with customers may involve management judgment and an analysis of the contract’s material terms.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our revenues are primarily generated from the transportation of natural gas under firm and/or fee-based service contracts. The natural gas we receive under our transportation contracts remains under the control of our customers. Revenues are generally invoiced on a monthly basis.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Under our firm service contracts, customers are generally subject to a fixed take-or-pay reservation fee for services. Our performance obligation is a promise to stand ready to provide continuous service availability, with limited exceptions, over the contractual service period (a single performance obligation). Because we make the service continuously available over the service period, even if the service is not used or received, we recognize the take-or-pay fixed fee as revenue ratably over the contractual service period based on the passage of time, as the service period expires</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Under our fee-based service contracts, customers receive non-firm or interruptible services, on an “as available” basis. Upon acceptance of a customer’s periodic service request, our performance obligation is a promise to provide a series of periodic services over the contractual service period (a single performance obligation). The transaction price is variable, typically a fee-based per unit rate based on our invoicing right for units of service transferred, and is allocated to a single performance obligation of providing services over the contractual service period. We recognize revenue as each unit of service</font><font style="font-family: Arial;">  </font><font style="font-family: Arial;">is transferred to the customer in the specified service period.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Major Customers.</font><font style="font-family: Arial;"> For the year ended December 31, 2025, revenues from our two largest customers were approximately $37.4 million, and $30.2 million, which exceeded 10% of our operating revenues. For the year ended December 31, 2024, revenue from our largest customer was approximately $24.7 million, which exceeded 10% of our operating revenues.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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 accrued liabilities and insurance, 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;"> </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;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We routinely conduct reviews of potential environmental issues and claims that assist us in identifying environmental issues and estimating the costs and timing of remediation efforts. We also routinely adjust our environmental liabilities to reflect changes in previous estimates. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us, and potential third-party liability claims we may have against others. Often, as the remediation evaluation and effort progresses, additional information is obtained, requiring revisions to estimated costs. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are subject to environmental cleanup and enforcement actions from time to time. In particular, the Comprehensive Environmental Response, Compensation and Liability Act generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a "reasonable basis" for apportionment of costs. Our operations are also subject to federal, state, and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments could result in substantial costs and liabilities to us, such as increasingly stringent environmental laws, regulations, and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations. Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters, and other matters to which we are a party, will not have a material adverse effect on our financial position, cash flows, or operating results. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Regulatory Assets and Liabilities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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 6 for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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, sans-serif; font-size: 16pt;">We are a limited liability company that is treated as a partnership for income tax purposes and are not subject to federal or state income taxes. </font>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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record current income taxes based on our taxable income and we provide for deferred income taxes to reflect estimated future tax payments and receipts. Deferred taxes represent the tax impacts of differences between the financial statement and tax bases of assets and liabilities and carryovers at each year end. We account for tax credits under the flow-through method, which reduces the provision for income taxes in the year the tax credits first become available. We reduce deferred tax assets by a valuation allowance when, based on our estimates, it is more likely than not that a portion of those assets will not be realized in a future period. The estimates utilized in the recognition of deferred tax assets are subject to revision, either up or down, in future periods based on new facts or circumstances. Income taxes charged to us are reflected in the accompanying comparative balance sheet in Account 236 "Taxes Accrued" and Accounts 190, 282, and 283 "Accumulated Deferred Income Taxes." A portion of the activity in Account 211 "Miscellaneous Paid-In Capital" reflects the income taxes assigned or advanced to our Members. Current income taxes assigned to our Members are transferred into Account 211 from Account 236. Deferred income taxes advanced to our Members are transferred into Account 211 with an offsetting adjustment to Account 186 "Miscellaneous Deferred Debits." For more information, see Note 5. </font><font style="font-family: Arial, sans-serif; font-size: 16pt;">Beginning with this FERC Form No. 2, we adopted Accounting Standards Update (ASU) No. 2023-09, “</font><em style="font-family: Arial, sans-serif; font-size: 16pt;">Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” </em><font style="font-family: Arial, sans-serif; font-size: 16pt;">and the effects of our early adoption are reflected for all periods presented below.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects the components of income tax expense included in net income (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
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<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>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
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<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>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Current:</font></p>
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</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">9.1</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.1</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12.2</font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred:</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">18.8</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">20.7</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(2.7)</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4.0</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">16.1</font></p>
</td>
<td style="width: 162.45pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.32pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">24.7</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">28.3</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.65pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.32pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">28.0</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </p>
<table style="width: 1152.38pt; -aw-border-insideh: 0.5pt single #000000; -aw-border-insidev: 0.5pt single #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 450pt; border-right: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: top; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 680.4pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;" colspan="6">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: top; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 334.8pt; 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: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">2025</font></p>
</td>
<td style="width: 334.8pt; 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: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">Income tax expense at the statutory federal rate</font></p>
</td>
<td style="width: 18pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 133.15pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">31.1</font></p>
</td>
<td style="width: 162.05pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">21.0%</font></p>
</td>
<td style="width: 18pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 133.15pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">26.6</font></p>
</td>
<td style="width: 162.05pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">21.0%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">State income tax, net of federal income tax benefit </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 18pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">(0.3)</font></p>
</td>
<td style="width: 162.05pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">-0.2%</font></p>
</td>
<td style="width: 18pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">3.9</font></p>
</td>
<td style="width: 162.05pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">3.1%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">Regulatory liability amortization</font></p>
</td>
<td style="width: 18pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">(2.5)</font></p>
</td>
<td style="width: 162.05pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">-1.7%</font></p>
</td>
<td style="width: 18pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">(2.5)</font></p>
</td>
<td style="width: 162.05pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">-2.0%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: spaces;">     </font><font style="font-family: Arial; font-size: 16pt;">Total</font></p>
</td>
<td style="width: 18pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 133.15pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">28.3</font></p>
</td>
<td style="width: 162.05pt; 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: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">19.1%</font></p>
</td>
<td style="width: 18pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 133.15pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">28.0</font></p>
</td>
<td style="width: 162.05pt; 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: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">22.1%</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; -aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 13.8pt;"><font style="font-family: Arial;">(1) State taxes in Louisiana made up the majority (greater than 50%) of the tax effect in this category for 2025 and 2024.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </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;">  </font></p>
<table style="width: 1152.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 796.35pt; border-right: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13.5pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 335.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 796.35pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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;">2025</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">193.8</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">189.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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 and other assets</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.3</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax liabilities</font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">194.1</font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">189.6</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: top;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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;">Net operating loss carryforwards</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13.9</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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 and other liabilities</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13.7</font></p>
</td>
<td style="width: 162.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14.7</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total deferred tax assets</font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13.7</font></p>
</td>
<td style="width: 162.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">28.6</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 797.6pt; 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: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">180.4</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.95pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">161.0</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-size: 16pt;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">4. Utility Plant</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 106%; font-size: 16pt;"><font style="font-family: Arial;">Our net utility plant consisted of the following (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 106%; font-size: 16pt;"> </p>
<table style="width: 1159.58pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 622.5pt; border-right: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 168.9pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Annual Depreciation</font></p>
</td>
<td style="width: 334.5pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; 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: 21.6pt;">
<td style="width: 622.5pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 168.9pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Rates (%)</font></p>
</td>
<td style="width: 161.7pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; 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;">2025</font></p>
</td>
<td style="width: 161.7pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transmission facilities</font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.0</font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,318.0</font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,314.4</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Intangible plant </font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.0</font></p>
</td>
<td style="width: 162.6pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21.0</font></p>
</td>
<td style="width: 162.6pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21.0</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">General plant</font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.0</font></p>
</td>
<td style="width: 162.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.2</font></p>
</td>
<td style="width: 162.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.9</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accumulated depreciation and amortization</font></p>
</td>
<td style="width: 170.15pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.25pt; padding-left: 4.72pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 163.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1,096.9)</font></p>
</td>
<td style="width: 163.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1,032.5)</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,245.3</font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,305.8</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; 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: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.6pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.5</font></p>
</td>
<td style="width: 162.6pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.5</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Construction work in progress</font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.7</font></p>
</td>
<td style="width: 162.6pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 623.4pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net utility plant</font></p>
</td>
<td style="width: 169.8pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,253.5</font></p>
</td>
<td style="width: 17.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 132.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 6pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,308.8</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">5. Related Party Transactions</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects changes to our proprietary capital accounts resulting from distributions paid to our Members, as well as other changes in proprietary capital (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="width: 1152.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 680.65pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 450.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 335.05pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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;">2025</font></p>
</td>
<td style="width: 335.05pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 450.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 162.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - Beginning of Year</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,280.0</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,322.2</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net Income</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">120.0</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">98.5</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 459.8pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer of net earnings from Account 216 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">120.0</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(120.0)</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">98.5</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(98.5)</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 459.8pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 236 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12.2</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">- </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.3</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 459.8pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 186 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 17.5pt; border-top: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">19.5</font></p>
</td>
<td style="width: 17.5pt; border-top: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">- </font></p>
</td>
<td style="width: 17.5pt; border-top: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">28.0</font></p>
</td>
<td style="width: 17.5pt; border-top: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Total Transfers</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">151.7</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(120.0)</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">129.8</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(98.5)</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions of pre-tax earnings</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(151.7)</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">- </font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(129.8)</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions as return of capital</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(58.3)</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">- </font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(42.2)</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Total Distributions to Member</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(210.0)</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">- </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(172.0)</font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 450.25pt; border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 132.7pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 17.5pt; border-top: 4.5pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 451pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - End of Year</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,221.7</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;"><font style="font-family: Arial; font-size: 21.3333px;">-</font> </font></p>
</td>
<td style="width: 17.5pt; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,280.0</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1) Settlements of these amounts are made within equity and are considered non-cash financing activities.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">KMOA manages and operates us under an operating and reimbursement agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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. Employees of KMI provide services to us. In accordance with our governance documents, we reimburse KMI and KMOA at cost for direct and indirect costs incurred on our behalf and allocated general and administrative costs.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </p>
<table style="width: 1153pt; border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: middle;" 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: 651.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 335.05pt; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 162.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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;">2025</font></p>
</td>
<td style="width: 162.25pt; border-bottom: 4.5pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">174</font></p>
</td>
<td style="width: 651.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalance receivable from associated companies</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<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: 133.45pt; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p>
</td>
<td style="width: 651.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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 Members</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">180.4</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">161.0</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p>
</td>
<td style="width: 651.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred reimbursable project costs</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.2</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.2</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">234</font></p>
</td>
<td style="width: 651.85pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.3</font></p>
</td>
<td style="width: 17.5pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-bottom: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.9</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 134.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">242</font></p>
</td>
<td style="width: 651.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; 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: 17.5pt; border-top: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.0</font></p>
</td>
<td style="width: 17.5pt; border-top: 1pt solid #000000; padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.45pt; border-top: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </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 costs from our affiliates (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="width: 1152.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 802pt; border-right: 1pt solid #000000; padding-right: 3.9pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 335.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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: 21.6pt;">
<td style="width: 802pt; 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; text-align: justify;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 162.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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;">2025</font></p>
</td>
<td style="width: 162.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 5.65pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 805.4pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Operation, maintenance, and payroll tax expenses</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)(2)</font></p>
</td>
<td style="width: 23.15pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; vertical-align: bottom;">
<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: 139.6pt; 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;">8.9</font></p>
</td>
<td style="width: 23.15pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; vertical-align: bottom;">
<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: 139.6pt; 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;">14.2</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 805.4pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Capitalized costs</font> <font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 23.15pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 139.6pt; 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;">2.2</font></p>
</td>
<td style="width: 23.15pt; border-bottom: 1pt solid #000000; padding-right: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 139.6pt; 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;">1.3</font></p>
</td>
</tr>
</table>
<p style="margin: 0pt 216pt 0pt 21.6pt; text-indent: -21.6pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin: 0pt 216pt 0pt 21.6pt; text-indent: -21.6pt; text-align: justify;"><font style="font-family: Arial;">(1) Includes costs associated with the affiliate agreement described above.</font></p>
<p style="margin: 0pt 216pt 0pt 21.6pt; text-indent: -21.6pt; text-align: justify;"><font style="font-family: Arial;">(2) 2025 and 2024 amounts include costs </font><font style="font-family: Arial;">associated with a pipeline capacity</font><font style="text-indent: -28.8px;"> </font><font style="font-family: Arial;">agreement, which terminated in May 2025, with Enable Oklahoma Intrastate Transmission, LLC </font><font style="font-family: Arial;">of $2.5 million and $5.5 million, respectively</font><font style="font-family: Arial;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Subsequent Event</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Subsequent to December 31, 2025 and through the issuance of this report, we made cash distributions to our Members totaling $37.0 million, inclusive of amounts representing income taxes.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">6. Rate and Regulatory Matters</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-style: italic;">Regulatory Assets and Liabilities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2025, the regulatory assets are subject to recovery in our rates, over a period of approximately one year to 18 years. Below are the details of our regulatory assets and liabilities (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<table style="width: 1152.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 795.85pt; border-right: 1pt solid #000000; padding-right: 4.4pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 335.8pt; border: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 795.65pt; border-right: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font></p>
</td>
<td style="width: 162.6pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; 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;">2025</font></p>
</td>
<td style="width: 162.6pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 2.25pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; 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>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.6pt; border: 1pt solid #000000; padding-right: 4.4pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets (Account 182.3)</font></p>
</td>
<td style="width: 18.25pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Difference between gas retained and gas consumed in operations</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.7</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.1</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Other</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.2</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.2</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 805.4pt; border: 1pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </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: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.9</font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.3</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities (Account 254)</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Income tax related</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">56.7</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">60.0</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Difference between gas retained and gas consumed in operations</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; 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: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.6</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Other</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
<td style="width: 18.05pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 133.25pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.1</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 796.2pt; border: 0.75pt solid #000000; padding-right: 4.72pt; padding-left: 4.72pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; -aw-import: spaces;">  </font><font style="font-family: Arial;">Total regulatory liabilities</font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">57.2</font></p>
</td>
<td style="width: 18.05pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.65pt; padding-left: 4.72pt; vertical-align: bottom;">
<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: 133.25pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.72pt; padding-left: 5.65pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">62.7</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1) Assets recoverable without earning a return. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our significant regulatory assets and liabilities include:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Difference between gas retained and gas consumed in operations. </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&U) and the quantity of gas consumed and L&U experienced in our operations. Pursuant to our tariff, the quantities associated with these amounts are expected to be recovered from or returned to our customers in subsequent periods. On a periodic basis, we file reports with the FERC detailing our volumetric fuel and L&U reimbursement activity and establishing prospective fuel and L&U retention rates. Volumetric over- or under-collections of fuel and L&U quantities from prior periods are trued up through either an addition or reduction to the prospective fuel and L&U retention rates.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">For the years ended December 31, 2025 and 2024, we recorded a net regulatory benefit of $5.2 million and a net regulatory expense of $3.7 million, respectively, related to our fuel and L&U activity.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Income tax related. </font><font style="font-family: Arial;">Amounts represent the anticipated return to ratepayers of deferred income taxes as a result of the Tax Cuts and Jobs Act of 2017, which lowered the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018. These amounts are amortized to Account 411.1 “Provision for Deferred Income Taxes – Credit” over the remaining depreciable lives of the assets to which they apply.</font> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;"><strong style="font-family: 'Times New Roman'; font-size: medium;"><font style="font-size: 16pt; font-family: Arial, sans-serif;">7. Service Restructuring Agreement</font></strong></font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-size: 16.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;">During the year ended December 31, 2024, we recognized $4.0 million of revenue related to an up-front cash payment received as part of a 2017 Service Restructuring Agreement we entered into with one of our customers. This payment was recognized as revenue through July 2024, the term of the Service Restructuring Agreement, to achieve a levelization of revenue based on the level of service provided in each period.</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></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">8. Recent Accounting Pronouncement</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">ASU No. 2025-06</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">  </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 September 18, 2025, the Financial Accounting Standards Board issued ASU No. 2025-06, </font><font style="font-family: Arial; font-style: italic;">“Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.”</font><font style="font-family: Arial;"> This ASU modernizes the accounting guidance for the costs to develop software for internal use by removing outdated stage-based cost capitalization rules and replacing them with a probability-based cost-capitalization framework that aligns better with current software development methods. This ASU will be effective for annual periods beginning after December 15, 2027, for interim reporting periods beginning within those annual periods, and early adoption is permitted. Management is currently evaluating this ASU to determine its impact on the Company’s financial statements.</font></p>
</div>
</div></div>
As of December 31, 2024, we estimate that no deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates.
Kinder Morgan Operating LLC "A" is an indirect wholly-owned subsidiary of Kinder Morgan, Inc.
ETC Midcontinent Express L.L.C. is a wholly-owned subsidiary of Energy Transfer Partners, LP.
See Page 102 "Control Over Respondent" for a description of our ownership structure.
Allowance for other funds used during construction
$
33,403
Allowance for borrowed funds used during construction
14,583
Total
$
47,986
Allowance for other funds used during construction
$
69,890
Allowance for borrowed funds used during construction
30,512
Total
$
100,402
Net increase in utility plant accruals
$
866,917
Account 131 - Cash
$
134,903
Account 136 - Temporary Cash Investments
9,071,625
Total
$
9,206,528
Account 131 - Cash
$
78,350
Account 136 - Temporary Cash Investments
14,094,019
Total
$
14,172,369
Account 131 - Cash
$
658,776
Account 136 - Temporary Cash Investments
12,032,542
Total
$
12,691,318
Recorded pursuant to Docket No. AI93-5-000 issued on April 23, 1993 (Accounting for Income Taxes).
Recorded pursuant to Section 9.3 of the General Terms and Conditions of our tariff.
In accordance with FERC Order No. 581, we use the fixed asset method.
Line 3 represents operational purchases recorded in Account 803.
Line 3 represents operational purchases recorded in Account 803.
Line 18 represents operational and cashout sales recorded in Account 803.
Line 18 represents operational and cashout sales recorded in Account 803.
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).
All services necessary for our operations are provided by Kinder Morgan, Inc., pursuant to Kinder Morgan Nat Gas Operator LLC's operating agreement, for which Kinder Morgan, Inc. is reimbursed at cost.
See page 218 "General Description of Construction Overhead Procedure" for the basis of allocation.
Account
Amount
107
$
413,421
108
288,310
186
6,531
408.1
374,828
850
1,261,962
853
809,012
856
572,686
857
144,949
863
159,521
864
914,375
865
69,411
867
6,513
920
1,156,996
Total
$
6,178,515
Account
Amount
107
$
55,811
108
41,673
186
1,145
926
945,108
Total
$
1,043,737
Account
Amount
408.1
$
99,827
920
1,304,153
921
37,939
923
272,924
926
216,490
930.2
263,202
931
176,653
Total
$
2,371,188
Account
Amount
107
$
1,038,818
186
382,097
Total
$
1,420,915
Use tax is distributed to various accounts based on the accounts charged for the originating invoice.
Transferred to Account 211 "Miscellaneous Paid-in-Capital."
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.
Volumes shown on this line are those for vent gas, heater fuel and greenhouse gas. This footnote applies to all periods within the quarter.
As of December 31, 2024, we estimate that the following deferred tax balance in Account 190 could be used in the development of jurisdictional recourse rates:
Regulatory Liability - Deferred Income Tax Rate Adjustment
$
14,689,571
As of December 31, 2025, we estimate that the following deferred tax balance in Account 190 could be used in the development of jurisdictional recourse rates:
Regulatory Liability - Deferred Income Tax Rate Adjustment
$
13,511,449
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
$
192,445,783
As of December 31, 2025, 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
$
197,772,434
As of December 31, 2025, we estimate that no deferred tax balance in Account 283 could be used in the development of jurisdictional recourse rates.
Account
Amount
182.3
$
26,592
407.4
1,354,656
Total
$
1,381,248
See page 332 for additional details on Transmission and Compression of Gas by Others.
The cost rate percentage of common equity is based on the approved rate of Docket No. CP08-6.
Account
Amount
407.3
$
424,603
407.4
1,666,547
Total
$
2,091,150
Account
Amount
407.3
$
65,166
407.4
147,362
Total
$
212,528
Transmission Plant (in thousands)
Pg 204 Ln 92 Col (g)
$
2,320,489
Less: Land
2,527
$
2,317,962
Rate for borrowed funds actually used during year is based upon the capital ratio of 45% long term debt multiplied by the 7% long term debt cost rate percentage in the original certificate in Docket No. CP08-6.
Rate of other funds actually used during year is based upon the capital ratio of 55% common equity multiplied by the 13% common equity cost rate percentage in the original certificate in Docket No. CP08-6.
Receipt points Enable lease 44599 West Pool, 44601 Waynoka, 47607 Rose Valley and 44600 East Pool. Delivery point Enable lease 44438 Bennington, Oklahoma.
Many of the natural gas volumes required to be reported on this page are tracked at the entity level, rather than by service type (i.e., firm transport, interruptible transport, etc.) or by discounted, negotiated, or recourse rate contracts. Therefore, the amounts reported have been allocated to the service types and to discounted, negotiated or recourse rate contracts based on reasonable assumptions.
Recorded pursuant to Section 36 of the General Terms and Conditions of our tariff. Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates.
Recorded pursuant to Section 36 of the General Terms and Conditions of our tariff. Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates.
Recorded pursuant to Section 36 of the General Terms and Conditions of our tariff. Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates.
Recorded pursuant to Section 36 of the General Terms and Conditions of our tariff. Remaining balance at end of current filing period will be refunded through adjustments to future period fuel retention rates.
Recorded pursuant to Section 10.9 of the General Terms and Conditions of our tariff.
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
213,881
Month 1 net activity
359,619
Month 2 net activity
225,934
Month 3 net activity
(150,282)
Net Quarterly Activity
435,271
Net Park/(Loan) Balance - End of Quarter
649,152