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C001683
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2025-01-01
2025-12-31
C001683
9
2025-01-01
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
3
2025-01-01
2025-12-31
C001683
4
2025-01-01
2025-12-31
C001683
5
2025-01-01
2025-12-31
C001683
8
2025-01-01
2025-12-31
C001683
ferc:PayrollBilledByAffiliatedCompaniesMember
2025-01-01
2025-12-31
C001683
74
2025-01-01
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
3
2025-01-01
2025-12-31
C001683
ferc:TransmissionCompressorStationsMember
2025-01-01
2025-12-31
C001683
6
2025-01-01
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
1
2025-10-01
2025-10-31
C001683
1
2025-11-01
2025-11-30
C001683
1
2025-12-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
2
2025-10-01
2025-10-31
C001683
2
2025-11-01
2025-11-30
C001683
2
2025-12-01
2025-12-31
C001683
3
2025-01-01
2025-12-31
C001683
3
2025-10-01
2025-10-31
C001683
3
2025-11-01
2025-11-30
C001683
3
2025-12-01
2025-12-31
C001683
4
2025-01-01
2025-12-31
C001683
4
2025-10-01
2025-10-31
C001683
4
2025-11-01
2025-11-30
C001683
4
2025-12-01
2025-12-31
C001683
5
2025-01-01
2025-12-31
C001683
5
2025-10-01
2025-10-31
C001683
5
2025-11-01
2025-11-30
C001683
5
2025-12-01
2025-12-31
C001683
6
2025-01-01
2025-12-31
C001683
6
2025-10-01
2025-10-31
C001683
6
2025-11-01
2025-11-30
C001683
6
2025-12-01
2025-12-31
C001683
6
2025-01-01
2025-12-31
C001683
6
2025-12-31
C001683
7
2025-01-01
2025-12-31
C001683
7
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
2
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
4
2025-01-01
2025-12-31
C001683
5
2025-01-01
2025-12-31
C001683
7
2025-01-01
2025-12-31
C001683
8
2025-01-01
2025-12-31
C001683
10
2025-01-01
2025-12-31
C001683
11
2025-01-01
2025-12-31
C001683
13
2025-01-01
2025-12-31
C001683
14
2025-01-01
2025-12-31
C001683
16
2025-01-01
2025-12-31
C001683
17
2025-01-01
2025-12-31
C001683
19
2025-01-01
2025-12-31
C001683
20
2025-01-01
2025-12-31
C001683
22
2025-01-01
2025-12-31
C001683
23
2025-01-01
2025-12-31
C001683
7
2025-01-01
2025-12-31
C001683
1
2025-01-01
2025-12-31
C001683
1
2025-12-31
C001683
ferc:FullyOwnedAndOperatedByRespondentMember
2025-12-31
C001683
ferc:FullyOwnedAndOperatedByRespondentMember
2025-01-01
2025-12-31
C001683
ferc:JointlyOwnedAndOperatedByRespondentMember
2025-01-01
2025-12-31
C001683
ferc:NotOperatedByRespondentMember
2025-01-01
2025-12-31
C001683
ferc:OperatedButNotOwnedByRespondentMember
2025-01-01
2025-12-31
C001683
2
2025-01-01
2025-12-31
C001683
2
2025-12-31
xbrli:pure
utr:kWh
utr:mi
utr:MW
iso4217:USD
iso4217:USD
utr:dth
utr:dth
Vicki A. Phillips
Vice President
/s/ Vicki A. Phillips
2026-04-08
2
Stagecoach Pipeline & Storage Company LLC
C001683
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
303135599
303135599
13891421
13891421
13891421
13891421
4000
4000
4000
4000
317023020
317023020
316913796
316913796
109224
109224
10
18
42474
42474
13851037
13851037
40384
40384
13891421
42474
13933895
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">1. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">2. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">3. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">4. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">5. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">6. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">7. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">8. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">9. See page 122.1, Notes to Financial Statements, Note 2 "Summary of Significant Accounting Policies."</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">10. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 21.3333px;">11. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">12. Changes made during the year ended December 31, 2025:</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Appointments:</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Michael Chandler - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Michelle Grant - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Ernestine Oriadha - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Jacquelyne Rocan - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Steven Romano - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Daryl Vance - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Resignations:</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Anders Johnson - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">William E. Morgan - Vice President, Operational Controller</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Christa Robbins - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Dayton Robertson - Vice President</font></p>
<p style="padding-left: 30px;"><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">Daryl Vance - Vice President</font></p>
<p> </p>
<p> </p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 16pt;">13. N/A</font></p></div>
533528
0.026
478
0.00
Intangible Plant (footnote details)
572
0.0847
Other Gas Storage (footnote details)
9
10
854
980
2688
812 Gas Used for Other Utility Operations - Credit
Gas Used - Unaccounted For
813
1571444
4479791
Gas Used - Other Fuel Compressor Stations
855
1757
6569
Gas Used - Mains Operations
856
15164
39832
Gas Used - Maintenance of Mains
863
1548
3336
1590893
4532216
5
6
7
8
9
Income Tax Gross Up on AFUDC Equity
Remaining life of assets
Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes)
1003
1955
407.3
171
2787
FERC Annual Charge Adjustment
12 months ending September 30
18 CFR 154.402 (a) and 18 CFR 382.202
677359
887111
928
899136
665334
678362
889066
899307
668121
1
2
Transportation and Exchange Imbalance Payable
2960138
Electric Compression Power Accrual
545113
3505251
1
2
Unaccounted For Valuation
4479791
Fuel Over/Under Recovery Revaluation
-1733177
T&E Imbalance Revaluation
76408
Line Pack Revaluation
-30173
2792849
1
2
3
4
546272334
546272334
546272334
546272334
12860
12860
546285194
546285194
317091020
317091020
229194174
229194174
317023020
317023020
68000
68000
317091020
317091020
Miscellaneous Construction Projects Under $1,000,000
12860
38885
38885
1
1
2
7
5
3
1
1
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
NA
Not Prepared
Kinder Morgan, Inc.
M
DE
1.0000
Kinder Morgan GP LLC
I
DE
0.0242
KM Energy Inc.
I
DE
0.5952
KM Energy LLC
I
DE
0.5952
Kinder Morgan Energy Partners, L.P.
I
DE
1.0000
Kinder Morgan Operating LLC "A"
I
DE
1.0000
Stagecoach Gas Services LLC
D
DE
1.0000
1
2
3
4
5
6
7
0
Account 489.2, Revenues from transportation of gas of others through transmission facilities.
12891562
24322973
54602466
392634269
12891562
24322973
54602466
392634269
1
59774
Health and life insurance
312291
Long-term disability insurance
6601
401K Employer contributions
108178
Other
13739
500583
6
7
8
9
676744
676744
1782709
1782709
2459453
2459453
120631
120631
120631
120631
797375
797375
1782709
1782709
2580084
2580084
2580084
2580084
17076
17076
17076
17076
2597160
2597160
74
Other (less Than $250,000)
496545
496545
1
M1S:MARC I South, PA
Transmission Compressor Stations
2
14315
83330806
2688
6569
503373
980
PT22H
2
2025-02-25
NS1:North South Pipeline, NY
Transmission Compressor Stations
1
13410
128957753
2144120
219804
17805841
PT3780H
1
2025-11-30
NS2:North South Pipeline, PA
Transmission Compressor Stations
2
30388
38608340
4425125
542131
46147128
PT8717H
2
2025-08-20
Subtotal Transmission Compressor Stations
5
58113
250896899
2688
6575814
1265307
980
63952969
PT12518H
5
250896899
1
2
3
4
2025-12-30
1360357
281023
1641380
46413
10000
56413
Authorized Overrun
-19077
19077
1387693
310100
1697793
208
42
250
Operational Balancing Agreement
117216
638
117854
Park and Loan
20000
20000
137424
680
138104
2025-07-28
3811999
1088528
4900527
224867
224867
Authorized Overrun
-164177
236994
72817
3872689
1325522
5198211
1795
673
2468
Operational Balancing Agreement
-296577
88900
-207677
Park and Loan
197192
197192
-97590
89573
-8017
827905
Cash Out Sales
133662
961567
12
Millennium Pipeline Company - Receipt - Pennsylvania, Delivery - New York
243396
1453272
243396
1453272
1
711
2715
711
2715
910749
823820
89192774
87967941
90103523
88791761
638563360
608001474
961567
498432
961567
498432
910749
823820
90155052
88469088
91065801
89292908
910749
823820
90155052
88469088
91065801
89292908
FTS
7350000
10290
810853
821143
7595000
11393
815333
826726
3584000
5376
445305
450681
FTS-2
33227026
46416
4838745
4885161
38458956
60691
5019528
5080219
37577868
57934
5701707
5759641
FWS
6803646
8373
1212839
1221212
7452508
9445
1228910
1238355
7214730
10543
1221910
1232453
ITS
1949000
2728
109144
111872
1692000
2538
94752
97290
1859500
2789
104132
106921
ITS-2
160636
225
21169
21394
185131
278
22334
22612
135170
203
18735
18938
ESTIMATE
8350852
16313
188107
204420
-6636742
-7501
310833
303332
4240163
6294
178255
184549
57841160
84345
7180857
7265202
48746853
76844
7491690
7568534
54611431
83139
7670044
7753183
1
2
3
4
5
6
34028
34028
65558
65558
104073
104073
30173
30173
25686
25686
6975
6975
3.6826
3.6826
M1/M1 FTS
84584
87497
8644450
8989254
8729034
9076751
59879239
62498038
M1/M1 FTS-2
382794
358911
38174819
35899278
38557613
36258189
256452009
255373303
M1/M1 ITS-2
140
8734
8874
99256
NS/NSL FTS-2
187691
152514
20865119
22109781
21052810
22262295
133145607
109990695
NS/NSL FWS
100055
126029
14442333
15395178
14542388
15521207
79910546
100397289
NS/NSL ITS-2
6274
3879
564846
186275
571120
190154
4497592
2808277
NS/NSL IWS
252
18
55250
630
55502
648
180340
12600
SM/SM FTS
28715
10440
585220
212537
613935
222977
20249831
7457404
SM/SM FTS-2
65045
65435
4341755
3939062
4406800
4004497
48324350
52751874
SM/SM FWS
12837
6392
285753
283936
298590
290328
10298196
8041132
SM/SM ITS
27153
18246
1061450
651650
1088603
669896
19141006
13033000
SM/SM ITS-2
585
533
22724
19021
23309
19554
414788
380428
Estimates
14624
-6074
140321
281339
154945
275265
5970600
-4742566
Zone M1/M1
467518
446408
46828003
44888532
47295521
45334940
316430504
317871341
Zone NS/NSL
294272
282440
35927548
37691864
36221820
37974304
217734085
213208861
Zone SM/SM
134335
101046
6296902
5106206
6431237
5207252
98428171
81663838
Zone Estimates
14624
-6074
140321
281339
154945
275265
5970600
-4742566
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
546272334
545046548
375402
545421950
303161125
242260825
229194174
242260825
7633417
7372934
120230
225204
189420
189420
399292
439460
8259127
5106220
16601486
13333238
6148573
7623076
32246
35940
6848940
8337378
252670286
263965469
242137767
254334496
242137767
254334496
403292
59288
105550
117625
200385
150651
1902985
4214478
2230549
141195
130104
6176086
7270042
760
278
6318041
7400424
252670286
263965469
91065801
89292908
11407686
10584696
11407686
10584696
733109
475549
733109
475549
13891421
13885898
13891421
13885898
42474
25526
42474
25526
171
8
171
8
1955
1011
1955
1011
1983009
1901706
1983009
1901706
12850844
10280699
12850844
10280699
5456999
4564501
5456999
4564501
4176
2409882
4176
2409882
1107055
11703
1107055
11703
45260879
44115751
45260879
44115751
45804922
45177157
45804922
45177157
5122
2610
-114131
-109009
2610
1082
1250
1082
1250
-23969
-7117
1396
722
-29690
722
-80401
638
12678
2459
1253
10219
-1253
45714302
45179048
45714302
45179048
45179048
45714302
Amortization of intangible plant
42474
25526
42474
25526
1
Change in gas owed to system
8342
-30190
Change in prepayments
40168
1172361
Current income taxes
18076485
14768989
Change in other deferred credits
Change in miscellaneous deferred debits
-3973
18121022
15911160
1
2
3
4
5
Net salvage/(cost of removal)
4000
380
Change in customer advances for construction
-388696
903383
-384696
903763
1
2
Distributions to Member
74897736
73241571
74897736
73241571
1
399292
Transfer from Account 216
45714302
Transfer from Account 236
18076485
Transfer from Account 186
-1089780
Distributions to Member
-74897736
-12196729
1
2
3
4
22424
827905
401347
827905
423771
-354314
304061
104073
50359
65558
76098
2383
4529528
3056297
3058680
1651364
-1227261
-705223
-1227261
-705223
221477
214117
786380
886951
2688
2383
6575814
5553645
406210
435318
165747
146892
219288
53404
62839
5913
8713
8461029
7530146
380518
201333
348220
252487
4371
21729
733109
475549
9194138
8005695
1782709
1561297
30315
20787
291459
255174
140240
135961
176881
139879
444719
879670
892293
225350
194807
146711
114856
4173918
3759773
4173918
3759773
12140795
11060245
13891421
13885898
-1101483
2398901
3308416
1929115
1867297
-380206
-10241
-8826
22794
7581
3863
75252071
75096175
746612
954704
7581
3863
354335
1854604
-354335
-1854604
-74897736
-73241571
254334496
242137767
Advance of Deferred Income Taxes to Member
7234380
211
1089780
6144600
Other (less than $250,000)
3973
3973
388696
3973
1089780
1
2
35940
3694
32246
35940
3694
32246
3694
27321
2458
24863
8619
1236
7383
278
482
760
278
482
760
482
211
375
586
67
107
174
7270042
1095352
1396
6176086
7270042
1095352
1396
6176086
1095352
1396
5526536
765561
1077
4762052
1743506
329791
319
1414034
FERC Form 2 Stagecoach System Map 2026.pdf
1
<div><p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; color: black;">1. Construction Overhead</font></p>
<p><font style="font-size: 18.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(a) Overhead charges are intended to cover those indirect costs pertaining to construction activities for departments such as engineering, operations and accounting for their labor and related employee benefits and office space. The overhead amount capitalized is charged to all construction projects by applying a construction overhead clearing rate to direct project costs.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(b) The overhead capitalized is primarily based on periodic studies to identify indirect capital costs that are not charged directly to construction projects.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(c) Costs are accumulated in a blanket overhead project and distributed monthly to individual construction projects.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(d) Different overhead rates are applied based on the nature of the construction project.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(e) The basis for the differentiation in overhead rates stems from the economies of scale that are achieved with these projects.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(f) Overheads are directly assigned to each project.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">2. Allowance for Funds Used During Construction</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">Allowance for funds used during construction is calculated below.</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">3. Net-of-Tax rate for borrowed funds</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">Not Applicable</font></p>
<p> </p></div>
254334496
Stagecoach Pipeline & Storage Company LLC
1.00
0.135
254334496
1.00
67638
0.135
0.0360
0.0743
Matthew J. Wojtalewicz
Vice President and Controller
1001 Louisiana Street, Suite 1000, Houston, TX 77002
false
false
We are a New York limited liability company formed in 2001.
Respondent was primarily engaged in the transmission of natural gas in the following states: New York, Pennsylvania.
false
1
76067
76067
203314
203314
334259
334259
76067
76067
203314
203314
334259
334259
57841160
84345
7256924
7341269
48746853
76844
7695004
7771848
54611431
83139
8004303
8087442
Deferred Income Tax Rate Adjustment (amortized through January 2036)
130104
411.1
11703
118401
Penalty Revenue Credit
Various
961277
984071
22794
972980
984071
1
2
456746
114811
571557
456746
114811
571557
11695020
11695020
7688
7688
80083235
80083235
282081600
69501
282151101
170143433
670232
170813665
87165
345353
432518
39651
39651
544130104
1092774
545222878
117565
117565
260123
260123
29718
18201
47919
52292
52292
459698
18201
477899
459698
18201
477899
545046548
1225786
546272334
545046548
1225786
546272334
6387
Shared Service Allocations
223956
North/South Lateral Allocation
-4993
6
7
Directly Charged Salaries and Wages
Kinder Morgan, Inc.
Various
1941488
Other Compensation and Benefits
Kinder Morgan, Inc.
Various
349972
Shared Services
Kinder Morgan, Inc.
Various
1703655
Construction Overheads
Kinder Morgan, Inc.
107
54194
4049309
Transportation Revenue
Kinder Morgan Gas Marketing LLC
489.2
1949705
1949705
2
3
4
5
8
Federal Energy Regulatory Commission Docket No. RM-87-3-2025
887111
887111
887111
182.3
221777
665334
Federal Energy Regulatory Commission Docket No. RM-87-3-2024
903145
903145
677359
182.3
677359
North-South lateral allocation
-19466
-19466
1790256
1790256
677359
867645
879670
665334
1
2
3
Stagecoach Pipeline & Storage Company, LLC
638563360
161199444
28124080
3844629
4511879
1092166
1453272
189000
1196697
307080
633225
155400
Reconciling Financial and Physical Balancing
System Supply - Park & Loan
17392297
4396743
691874810
171184462
638563360
161199444
28124080
3844629
4672553
1215484
1453272
189000
980
517
Gas Used in Utility Operations
18469
3552
Operational TBO Fuel
152
Line Pack
-5851
3546
Park and Loan
17392297
4396743
Cashout Sales
84054
84054
690303366
170936969
1571444
247493
691874810
171184462
16
17
32
33
34
35
36
Other (less than $250,000)
1082
Operational flow order (FERC interest rate)
12678
1
2
4
5
7
8
10
11
13
14
16
17
19
20
22
23
New York
NY
Fully Owned and Operated by Respondent
23.1
Pennsylvania
PA
Fully Owned and Operated by Respondent
64.5
87.6
87.6
1
2
3
4
5
6
7
413
131119
34385
165917
822
260887
68416
330125
413
131119
34385
165917
822
260887
68416
330125
3
863
227
1093
6
1717
452
2175
Various
812
3
863
227
1093
6
1717
452
2175
156
49503
12982
62641
310
98496
25830
124636
813
812
156
49503
12982
62641
310
98496
25830
124636
254
80753
21176
102183
506
160674
42134
203314
254
80753
21176
102183
506
160674
42134
203314
254
80753
21176
102183
506
160674
42134
203314
174
806
Other Dispositions
254
80753
21176
102183
506
160674
42134
203314
Gas due from shippers
7
7
M1/M1
4497975
1206174
2422680
935099
NS/NSL
3034918
1225815
3295772
1363132
SM/SM
5004899
2079890
6819341
2213648
System Inventory
354313
160674
12537792
4511879
12892106
4672553
1
2
3
4
0
1
Distributions of Earnings to Member
211
-45714302
-45179048
1
450
118757
28070
147277
742
195925
46310
242977
See Footnote
450
118757
28070
147277
742
195925
46310
242977
1
214
51
266
2
353
84
439
854
810
1
214
51
266
2
353
84
439
3
901
213
1117
5
1486
351
1842
Various
812
3
901
213
1117
5
1486
351
1842
305
80463
19019
99787
503
132748
31378
164629
813
812
305
80463
19019
99787
503
132748
31378
164629
141
37179
8787
46107
232
61338
14497
76067
141
37179
8787
46107
232
61338
14497
76067
141
37179
8787
46107
232
61338
14497
76067
174
806
Other Dispositions
141
37179
8787
46107
232
61338
14497
76067
Gas due from shippers
161199444
161199444
300
52176
96810
149286
961
167120
310082
478163
300
52176
96810
149286
961
167120
310082
478163
1
88
162
251
3
282
519
804
854
810
1
88
162
251
3
282
519
804
3
469
870
1342
10
1502
2787
4299
Various
812
3
469
870
1342
10
1502
2787
4299
171
29731
55163
85065
548
95228
176687
272463
813
812
171
29731
55163
85065
548
95228
176687
272463
125
21888
40615
62628
400
70108
130089
200597
125
21888
40615
62628
400
70108
130089
200597
125
21888
40615
62628
400
70108
130089
200597
174
806
Other Dispositions
125
21888
40615
62628
400
70108
130089
200597
Gas due from shippers
0
0
45714302
45179048
0
<div><!--?xml version="1.0" encoding="utf-8" standalone="no"?-->
<div>
<div class="Section_1">
<p style="margin-top: 0pt; margin-bottom: 0pt; 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="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Organization</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><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;">Stagecoach Pipeline & Storage Company LLC (SPSC) is a New York limited liability company formed in 2001, and is an indirect wholly owned subsidiary of Kinder Morgan, Inc. (KMI). For purposes of this report, references to “us,” “we,” “our,” “the Company,” or “Respondent” refer to SPSC solely in its capacity as the owner and operator of the North-South and Marc I Projects (described below). References to SPSC refer to SPSC in its capacity as a legal entity, thus capturing all of the company's assets and operations (including the North-South and Marc I Projects).</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;">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="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Description of Operations</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">SPSC owns natural gas transportation and natural gas storage facilities that are regulated by the Federal Energy Regulatory Commission (FERC).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">Respondent offers firm wheeling services through its North and South Laterals to/from TGP's 300 Line and the Millennium Pipeline and various points in between under negotiated and discounted rate contracts (subject to cost-of-service recourse rates). SPSC’s South Lateral connects the Stagecoach Central Compressor Station in Tioga County, New York to Tennessee Gas Pipeline's (TGP) 300 Line in Bradford County, Pennsylvania. The SPSC North Lateral connects the Stagecoach Central Compressor Station to the Millennium Pipeline in Tioga County, New York. The Marc I Project facilities extend from the Respondent's Stagecoach South Lateral interconnect with TGP's 300 Line southward to Transcontinental Gas Pipeline Corporation's (Transco) Leidy Line.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">The SPSC natural gas storage facility</font> <font style="font-family: Arial;">provides storage services to customers under market-based rate authority granted by the FERC. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><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; font-weight: bold;">2. Summary of Significant Accounting Policies</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Basis of Presentation</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The Respondent's financial statements are prepared in accordance with the accounting requirements of the FERC as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (GAAP).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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 most significant differences between GAAP and the financial statements presented herein are: (i) the deferral of certain costs and revenues, (ii) the classification of certain accounts on the balance sheet and statement of income, and (iii) the inclusion and classification of income taxes in a limited liability company's financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-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 Respondent's financial statements are inclusive of only a portion of SPSC's financial results, representing the results exclusively of the North-South and Marc I Projects. As such, these financial statements do not reflect the financial position and results of operations of SPSC as a legal entity. Storage-related revenues are not included in the results of operations in these financial statements. Expenses are directly assigned to the cost-based transportation services whenever possible and expenses that are specifically unique to providing market-based storage services have been excluded for the periods presented. Where direct assignment of costs is not possible, costs are allocated to the Marc I facilities and the North-South Lateral facilities based on gross plant balances for each. The North-South Lateral allocation is further broken down between cost-based and market-based activities on the laterals based on the percentage of contract demand for cost-based services relative to total contract demand on the laterals. The expenses allocated to market-based activities and services as described above are excluded for the periods presented.</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; font-size: 16pt;"><font style="font-family: Arial;">Management has evaluated subsequent events through April 8, 2026, the date the financial statements were available to be issued.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Use of Estimates</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; 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;">Certain amounts included in or affecting our financial statements and related disclosures must be estimated, requiring us to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time our financial statements are prepared. These estimates and assumptions affect the amounts we report for assets and liabilities, our revenues and expenses during the reporting period, and our disclosures, including those related to contingent assets and liabilities at the date of our financial statements. We evaluate these estimates on an ongoing basis, utilizing historical experience, consultation with experts, and other methods we consider reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from our estimates. Any effects on our business, financial position, or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Certain accounting policies are of more significance in our financial statement preparation process than others, and set out below are the principal accounting policies we apply in the preparation of our financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Cash Equivalents</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We define cash equivalents as all highly liquid short-term investments with original maturities of three months or less.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: spaces;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Allowance for Credit Losses</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We evaluate our financial assets measured at amortized cost and off-balance sheet credit exposures for expected credit losses over the contractual term of the asset or exposure. We consider available information relevant to assessing the collectability of cash flows including the expected risk of credit loss even if that risk is remote. We measure expected credit losses on a collective (pool) basis when similar risk characteristics exist and we reflect the expected credit losses on the amortized cost basis of the financial asset as of the reporting date.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our financial instruments primarily consist of our accounts receivable from customers. We utilized historical analysis of credit losses experienced over the previous five years along with current conditions and reasonable and supportable forecasts of future conditions in our evaluation of collectability of our financial assets.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-indent: -36pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Inventories</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-indent: -36pt; 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;">Our inventories, which consist of materials and supplies, are valued at weighted-average cost, and we periodically review for physical deterioration and obsolescence.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-indent: -36pt; 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-left: 36pt; margin-bottom: 0pt; text-indent: -36pt; 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;">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;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Property, Plant and Equipment</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our property, plant, and equipment is recorded at its original cost of construction or, upon acquisition, at either the fair value of the assets acquired or the cost to the entity that first placed the asset in utility service. For constructed assets, we capitalize all construction-related direct labor and material costs, as well as indirect construction costs. Our indirect construction costs primarily include an interest and equity return component (as more fully described below) and labor and related costs associated with supporting construction activities. The indirect capitalized labor and related costs are based upon estimates of time spent supporting construction projects. We expense costs for routine maintenance and repairs in the period incurred.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We use the composite method to depreciate property, plant, and equipment. Under this method, assets with similar economic characteristics are grouped and depreciated as one asset. The FERC-accepted depreciation rate is applied to the total cost of the group until the net book value equals the salvage value. For certain general plant, the asset is depreciated to zero. As part of periodic filings with the FERC, we also re-evaluate and receive approval for our depreciation rates. When property, plant, and equipment is retired, accumulated depreciation and amortization is charged for the original cost of the assets in addition to the cost to remove, sell, or dispose of the assets, less salvage value. We do not recognize gains or losses unless we sell land or an entire operating unit (as approved by the FERC).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize a carrying cost (an allowance for funds used during construction or AFUDC) on debt and equity funds related to the construction of long-lived assets. This carrying cost consists of a return on the investment financed by debt and a return on the investment financed by equity. The debt portion is calculated based on our 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;"><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; font-style: italic;">Asset Retirement Obligations (ARO)</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record liabilities for obligations related to the retirement and removal of long-lived assets used in our business. We record, as liabilities, the fair value of ARO on a discounted basis when they are incurred and can be reasonably estimated, which is typically at the time the assets are installed or acquired. Amounts recorded for the related assets are increased by the amount of these obligations. Over time, the liabilities increase due to the change in their present value, and the initial capitalized costs are depreciated over the useful lives of the related assets. The liabilities are eventually extinguished when the asset is taken out of service.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are required to operate and maintain our natural gas 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;"><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; font-style: italic;">Long-lived Asset Impairments</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;">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;"><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;">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;"><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; font-style: italic;">Revenue Recognition</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We segregate each class of revenue by account pursuant to the FERC's guidance under Code of Federal Regulations Title 18, Part 201.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Revenue from Contracts with Customers. </font><font style="font-family: Arial;">We 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="-aw-import: ignore;">  </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="-aw-import: ignore;">  </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="-aw-import: ignore;">  </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 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;"><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; 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;"><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; 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 $46.9 million and $16.2 million, each of which exceeded 10% of our operating revenues. For the year ended December 31, 2024, revenues from our two largest customers were approximately $44.9 million and $10.1 million, each of which exceeded 10% of our operating revenues.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Legal Proceedings</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are party to various legal, regulatory, and other matters arising from the day-to-day operations of our business that may result in claims against the Company. Although no assurance can be given, we believe, based on our experiences to date and taking into account 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;"><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; font-style: italic;">Environmental Matters</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize certain environmental expenditures required to obtain rights-of-way, regulatory approvals, or permitting as part of the construction of facilities we use in our business operations. We accrue and expense environmental costs that relate to an existing condition caused by past operations, which do not contribute to current or future revenue generation. We generally do not discount environmental liabilities to a net present value, and we record environmental liabilities when environmental assessments and/or remedial efforts are probable and we can reasonably estimate the costs, such as after the completion of a feasibility study or commitment to a formal plan of action. We recognize receivables for anticipated associated insurance recoveries when such recoveries are deemed to be probable.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We routinely conduct reviews of potential environmental issues and claims that assist us in identifying environmental issues and estimating the costs and timing of remediation efforts. We also routinely adjust our environmental liabilities to reflect changes in previous estimates. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us, and potential third-party liability claims we may have against others. Often, as the remediation evaluation and effort progresses, additional information is obtained, requiring revisions to estimated costs. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are subject to environmental cleanup and enforcement actions from time to time. In particular, the Comprehensive Environmental Response, Compensation and Liability Act generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a "reasonable basis" for apportionment of costs. Our operations are also subject to federal, state, and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments could result in substantial costs and liabilities to us, such as increasingly stringent environmental laws, regulations, and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations. 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;"><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; font-style: italic;">Regulatory Assets and Liabilities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that are expected to be recovered from or returned to customers through the ratemaking process. As of December 31, 2025 and 2024, our regulatory assets and liabilities were not material.</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; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">3. Income Taxes</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are a limited liability company and are not subject to federal or state income taxes; however, all of our activities are included in the tax returns of KMI, which is a taxable C-corporation. Our approved rates include an allowance for income taxes, calculated as if we were a taxable corporation, and the FERC requires that we reflect such taxes in our financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record current income taxes based on our taxable income and we provide for deferred income taxes to reflect estimated future tax payments and receipts. Deferred taxes represent the tax impacts of differences between the financial statement and tax bases of assets and liabilities and carryovers at each year end. We account for tax credits under the flow-through method, which reduces the provision for income taxes in the year the tax credits first become available. We reduce deferred tax assets by a valuation allowance when, based on our estimates, it is more likely than not that a portion of those assets will not be realized in a future period. The estimates utilized in the recognition of deferred tax assets are subject to revision, either up or down, in future periods based on new facts or circumstances. Income taxes charged to us are reflected in the accompanying comparative balance sheet in Account 236 "Taxes Accrued" and Accounts 190, 282, and 283 "Accumulated Deferred Income Taxes." A portion of the activity in Account 211 "Miscellaneous Paid-In Capital" reflects the income taxes assigned or advanced to our Member. Current income taxes assigned to our Member are transferred into Account 211 from Account 236. Deferred income taxes advanced to our Member are transferred into Account 211 with an offsetting adjustment to Account 186 "Miscellaneous Deferred Debits." For more information, see Note 5. </font><font style="font-family: Arial; color: #212121;">Beginning with this FERC Form No. 2, we adopted Accounting Standards Update (ASU) No. 2023-09, </font><font style="font-family: Arial; font-style: italic; color: #212121;">"Income Taxes (Topic 740): Improvements to Income Tax Disclosures,"</font><font style="font-family: Arial; color: #212121;"> and the effects of our early adoption are reflected for all periods below.</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 table reflects the components of income tax expense included in net income (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </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;">Year Ended December 31,</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </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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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">12.8</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">10.3</font></p>
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<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5.5</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4.5</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">18.3</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14.8</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
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<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: 24pt;">
<td style="width: 389.25pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p>
</td>
<td style="width: 137.65pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(0.8)</font></p>
</td>
<td style="width: 142.15pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.9</font></p>
</td>
</tr>
<tr style="height: 24pt;">
<td style="width: 389.25pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
</td>
<td style="width: 137.65pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; 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: 142.15pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; 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: 24pt;">
<td style="width: 389.25pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; 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: 137.65pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1.1)</font></p>
</td>
<td style="width: 142.15pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.4</font></p>
</td>
</tr>
<tr style="height: 24pt;">
<td style="width: 389.25pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total income tax expense</font></p>
</td>
<td style="width: 15pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 114.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.1pt; padding-left: 4.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17.2</font></p>
</td>
<td style="width: 9.15pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 125.1pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.1pt; padding-left: 4.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17.2</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 differences between our actual income tax expense and the amount computed by applying the statutory federal income tax rate of 21% are summarized as follows (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<table style="width: 864.75pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 394.4pt; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.55pt; 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: 460.72pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: top;" colspan="6">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 394.4pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.55pt; 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: 221.75pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 224.45pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Income tax expense at the statutory federal rate</font></p>
</td>
<td style="width: 8.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 101.32pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13.2</font></p>
</td>
<td style="width: 109.05pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; vertical-align: middle;">
<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: 8.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: middle;">
<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: 103.02pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">13.1</font></p>
</td>
<td style="width: 109.92pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: middle;">
<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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State income tax, net of federal income tax effect </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 112pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: middle;" 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>
<td style="width: 109.05pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.3%</font></p>
</td>
<td style="width: 113.7pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: middle;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4.1</font></p>
</td>
<td style="width: 109.92pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.6%</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total </font></p>
</td>
<td style="width: 8.9pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 101.32pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17.2</font></p>
</td>
<td style="width: 109.05pt; border-top: 3pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 0.75pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27.3%</font></p>
</td>
<td style="width: 8.9pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: middle;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 103.02pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: middle;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">17.2</font></p>
</td>
<td style="width: 109.92pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">27.6%</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-left: 36pt; margin-bottom: 0pt; text-indent: -18pt; text-align: justify;"><font style="font-family: Arial;">(1)</font> <font style="font-family: Arial;">State taxes in Pennsylvania 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="margin-left: 35.75pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.25pt;">
<td style="width: 388.95pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; 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: 294.5pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="width: 388.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: top; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 143.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="width: 388.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Deferred tax liabilities:</font></p>
</td>
<td style="width: 143.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="width: 388.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Property, plant, and equipment</font></p>
</td>
<td style="width: 14.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 120.7pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.1pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.1</font></p>
</td>
<td style="width: 16.7pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 118.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.1pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7.2</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="width: 388.95pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net deferred tax liability</font></p>
</td>
<td style="width: 14.8pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 120.7pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.1pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.1</font></p>
</td>
<td style="width: 16.7pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 118.8pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.1pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7.2</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><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; font-weight: bold;">4.</font> <font style="font-family: Arial; font-weight: bold;">Utility Plant</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><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;">Our net utility plant consisted of the following (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="-aw-import: ignore;">  </font></p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 25.2pt;">
<td style="width: 350.75pt; border-right: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.9pt; 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: 156.05pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Annual Depreciation</font></p>
</td>
<td style="width: 331.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 350.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 156.05pt; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Rates (%)</font></p>
</td>
<td style="width: 157.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 163.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transmission facilities </font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">2.6</font></p>
</td>
<td style="width: 15.2pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 131.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">533.5</font></p>
</td>
<td style="width: 14.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 138.9pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">532.4</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">General plant </font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">8.33-9.09</font></p>
</td>
<td style="width: 157.4pt; border: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
<td style="width: 163.85pt; border: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Intangible plant</font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">8.47</font></p>
</td>
<td style="width: 157.4pt; border: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.6</font></p>
</td>
<td style="width: 163.85pt; border: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.9pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.5</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accumulated depreciation and amortization </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 157.4pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(317.1)</font></p>
</td>
<td style="width: 163.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(303.2)</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 15.2pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 131.4pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">217.5</font></p>
</td>
<td style="width: 14.15pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 138.9pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">230.2</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Land</font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 157.4pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11.7</font></p>
</td>
<td style="width: 163.85pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11.7</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Construction work in progress</font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 157.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 163.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.4</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 351.4pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 4.25pt; vertical-align: bottom; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net utility plant</font></p>
</td>
<td style="width: 156.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 15.2pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 131.4pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">229.2</font></p>
</td>
<td style="width: 14.15pt; border-top: 3pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 138.9pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">242.3</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Arial;">(1) The composite weighted average depreciation rate for each of the years ended December 31, 2025 and 2024 was approximately 2.61%.</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; font-weight: bold;">5. Related Party Transactions</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </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-style: italic;">Proprietary Capital</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">The following table reflects changes to our proprietary capital accounts resulting from distributions paid to our Member, as well as other changes in proprietary capital (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </font></p>
<table style="width: 1169px; border-collapse: collapse; height: 606px;" cellspacing="0" cellpadding="0">
<tr style="height: 23.7pt;">
<td style="width: 435.377px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.8pt; 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: 708.914px; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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><font style="font-size: 12pt; -aw-import: spaces;">  </font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 435.377px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.8pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 371.434px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: middle;" 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: 325.601px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 435.377px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.8pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 176.923px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 182.632px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 176.963px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 136.759px; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 435.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 4.8pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 176.923px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 182.632px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 176.963px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 136.759px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - Beginning of Year</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">254.3</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">265.2</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 435.537px; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 138.962px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 142.728px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 134.195px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 88.8622px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net Income</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">45.7</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">45.2</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 435.537px; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 138.962px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 142.728px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 134.195px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 88.8622px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer of net earnings from Account 216 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">45.7</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(45.7)</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">45.2</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(45.2)</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 236 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">18.1</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">14.8</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transfer from Account 186 </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1.1)</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.4</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 90.0441px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 3.6pt 0pt 21.6pt; font-size: 16pt;"><font style="font-family: Arial;">Total Transfers</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">62.7</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(45.7)</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">62.4</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(45.2)</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 435.537px; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 138.962px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 142.728px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 134.195px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 88.8622px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions of pre-tax earnings</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(62.7)</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(62.4)</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions as return of capital</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(12.2)</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(10.9)</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 3.6pt 0pt 21.6pt; font-size: 16pt;"><font style="font-family: Arial;">Total Distributions to Member</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(74.9)</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(73.3)</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 3pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.7pt;">
<td style="width: 435.537px; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 138.962px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 142.728px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 134.195px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 88.8622px; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; 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: 23.7pt;">
<td style="width: 437.901px; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - End of Year</font></p>
</td>
<td style="width: 23.7179px; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 140.144px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">242.1</font></p>
</td>
<td style="width: 25.6611px; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 143.91px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 28.5256px; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 135.377px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">254.3</font></p>
</td>
<td style="width: 33.6538px; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.8pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 90.0441px; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 5.05pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Arial;">(1)</font> <font style="font-family: Arial;">Settlements of these amounts are made within equity and are considered non-cash financing activities. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Affiliate Balances and Activities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Through SPSC’s cash management agreement with KMI, Respondent participates in KMI's cash management program, which matches the short-term cash surpluses and needs of participating affiliates, thus minimizing total borrowings from outside sources. KMI uses the cash management program to settle intercompany transactions between participating affiliates. As of December 31, 2025 and 2024, Respondent had no balance with KMI or SPSC under the cash management program. </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 table summarizes our other balance sheet affiliate balances (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<table style="width: 850.9pt; border: 1pt solid #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 26.6pt;">
<td style="width: 64pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p>
</td>
<td style="width: 477.75pt; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: top; -aw-border-left: 0.75pt dash-large-gap;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 285.95pt; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 26.6pt;">
<td style="width: 139.1pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 139.15pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 26.6pt;">
<td style="width: 64pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">146</font></p>
</td>
<td style="width: 477.75pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts receivable from associated companies</font></p>
</td>
<td style="width: 15.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 115.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.1</font></p>
</td>
<td style="width: 16.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 113.7pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.2</font></p>
</td>
</tr>
<tr style="height: 26.6pt;">
<td style="width: 64pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">174</font></p>
</td>
<td style="width: 477.75pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<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: 15.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 115.35pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.2</font></p>
</td>
<td style="width: 16.85pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 113.7pt; border-top: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<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: 26.6pt;">
<td style="width: 64pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; 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="font-family: Arial;">186</font></p>
</td>
<td style="width: 477.75pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Advance of deferred income taxes to Member</font></p>
</td>
<td style="width: 15.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -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: 115.35pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6.1</font></p>
</td>
<td style="width: 16.85pt; border-top: 0.75pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; padding-right: 3.92pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 113.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7.2</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;">We do not have employees and are managed and operated by KMI, who provides services to us. Under KMI policies, we reimburse KMI at cost for direct and indirect costs incurred on our behalf and allocated general and administrative costs. These costs are reflected, as appropriate, in the “Operation, maintenance, and payroll tax expenses” and “Capitalized costs” lines in the table below.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table shows revenues and costs from our affiliates (in millions): </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 25.2pt;">
<td style="width: 558.2pt; border-right: 1pt solid #000000; padding-right: 3.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 280.3pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.15pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 558.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 134.65pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.15pt; 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: 136.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.15pt; 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: 25.2pt;">
<td style="width: 557.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Revenues</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<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: 127.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1.9</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<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: 128.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2.6</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 557.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Operation, maintenance, and payroll tax expenses</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 127.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4.0</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 128.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3.5</font></p>
</td>
</tr>
<tr style="height: 25.2pt;">
<td style="width: 557.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capitalized costs</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 127.45pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">0.1</font></p>
</td>
<td style="width: 9.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="-aw-import: ignore;">  </font></p>
</td>
<td style="width: 128.9pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</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;">KMI and substantially all of its wholly owned domestic subsidiaries, including us, are a party to a cross guarantee agreement whereby each party to the agreement unconditionally guarantees, jointly and severally, the payment of specified indebtedness of each other party to the agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="-aw-import: ignore;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">6. Recent Accounting Pronouncement</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="-aw-import: ignore;">  </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-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="-aw-import: ignore;">  </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>
2459
Capitalized Interest - Tax
295094
Contributions in Aid of Construction
297553
12053521
Federal Income Tax
13933895
Book Depreciation and Amortization
964
Meals and Entertainment
1082
Non-Deductible Lobbying Expense
25989462
328129
State Deferred Income Tax
1784
AFUDC Equity - Regulatory Asset
2459
AFUDC - Book Capitalized Interest
5122
AFUDC Equity - Book Capitalized Amount
54193
Capitalized Overhead - Book
391687
21739010
Tax Depreciation and Amortization
4000
Cost of Removal
21743010
49866620
10471990
21% of Taxable Income
2354885
Return to Provision/Other
12826875
Federal Income Tax - Current
5
6
9
10
11
12
15
16
17
18
19
22
23
27
28
29
30
31
32
Federal Income Tax
Federal Tax
12826875
-12826875
12850844
-23969
Subtotal Federal Tax
12826875
-12826875
12850844
-23969
State Income Tax - New York
State Tax
New York
630289
-630289
631143
-854
0.0095
State Income Tax - Pennsylvania
State Tax
Pennsylvania
4619321
-4619321
4625584
-6263
0.0695
Texas Margin Tax
State Tax
Texas
2024
150651
-575
150076
-575
Texas Margin Tax
State Tax
Texas
2025
200847
200847
200847
Subtotal State Tax
150651
5449882
150076
-5249610
200847
5456999
-7117
Ad Valorem Tax - New York
Ad Valorem Tax
New York
2025
437960
1388195
1348754
773
399292
1388195
Ad Valorem Tax - Pennsylvania
Ad Valorem Tax
Pennsylvania
2025
51706
51706
51706
Subtotal Ad Valorem Tax
437960
1439901
1400460
773
399292
1439901
Use Tax - New York
Sales And Use Tax
New York
2025
31979
31714
265
31979
Subtotal Sales And Use Tax
31979
31714
265
31979
Payroll - FICA Tax
Payroll Tax
Federal
2025
187731
187731
187731
Payroll - Unemployment Tax
Payroll Tax
Federal
2025
5545
5545
5545
Subtotal Payroll Tax
193276
193276
193276
Franchise Tax
Franchise Tax
2025
1500
349832
349832
-1500
349832
Subtotal Franchise Tax
1500
349832
349832
-1500
349832
439460
20291745
2125358
-18076485
20290852
-31086
31979
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Transmission Plant (in thousands)
Page 204 Ln 92 col (g)
$
545,223
Less: Land
11,695
$
533,528
Includes 0.1% for Negative Salvage.
General Plant
Rate:
Computer Equipment
9.09%
Light Trucks
8.33%
Tools & Shop Equipment
8.47%
Power Operated Equipment
8.33%
In accordance with FERC Order No. 581, we use the fixed asset method.
Imbalance volumes are netted by zone on a quarterly basis. The imbalance volumes netted by zone/rate schedule for each quarter are then added together to arrive at the annual imbalance volumes by zone/rate schedule.
See Page 332 for additional details on Transmission and Compression of Gas by Others.
Rate for borrowed funds actually used during the year is based upon the capital ratio of 45% long term debt in Docket No. CP10-194 multiplied by the 8.0% long term debt cost rate percentage.
Rate for other funds actually used during the year is based upon the capital ratio of 55% common equity in Docket No. CP10-194 multiplied by the 13.5% common equity cost rate.
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
$
35,940
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
$
32,246
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
$
7,269,320
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.
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.
Kinder Morgan, Inc. directly owns 38.06% of Kinder Morgan Energy Partners, L.P. and 100% of Kinder Morgan GP LLC and KM Energy Inc.
KM Energy LLC is a direct wholly-owned subsidiary of KM Energy Inc.
See Page 102 "Control Over Respondent" for a description of our ownership structure.
Allowance for other funds used during construction
$
2,610
Allowance for borrowed funds used during construction
1,253
Total
$
3,863
Allowance for other funds used during construction
$
5,122
Allowance for borrowed funds used during construction
2,459
Total
$
7,581
Net increase in utility plant accruals
$
116,632
Amounts charged by Kinder Morgan, Inc. through shared services are allocated using the modified Massachusetts Formula.
See Page 218, "General Description of Construction Overhead Procedure" for the basis of allocation.
Recorded pursuant to Docket No. AI93-5-000 issued on April 23, 1993 (Accounting for Income Taxes).
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
$
9,495,719
The value of this gas is based on the current month index price and it is not adjusted to reflect a change in pricing subsequent to the month shipper supplied gas is retained. This footnote applies to all periods within the quarter.
A non-revenue recognition method for shipper supplied gas is used which results in accounting entries for net fuel over or under collected rather than separate revenue entries for shipper supplied gas and expenses for gas used in compressors. This footnote applies to all periods within the quarter.
This line includes operation and maintenance fuel and known losses due to blowdowns, emergency shut downs, compressor start-ups, flares, line purges, tube inspections and relief valves. This footnote applies to all periods within the quarter.
Accounts 855, 856 and 863 are debited for gas used for other operational purposes. This footnote applies to all periods within the quarter.
Volume subject to ACA surcharge.
Volume subject to ACA surcharge.
Volume subject to ACA surcharge
Volumes are on a flow month basis.
Recorded pursuant to Section 6.18 of the General Terms and Conditions of our tariff.
Account
Amount
142
$
891,816
146
69,461
Total
$
961,277
Amounts charged are based on Kinder Morgan, Inc.'s other compensation and benefit expenses and are allocated to us based on the distribution of direct labor charges (excluding overtime and special pay).
Account
Amount
107
$
3,205
926
346,767
Total
$
349,972
Account
Amount
107
$
20,780
408.1
132,173
850
203,035
853
265,612
856
118,274
857
89,823
864
120,631
920
991,160
Total
$
1,941,488
Account
Amount
408.1
$
61,103
920
791,549
923
154,492
925
176,881
926
153,816
930.2
219,103
931
146,711
Total
$
1,703,655
Of the $944,750 in 2025 annual charges billed by the Federal Energy Regulatory Commission this is the portion attributable to transportation services. The remainder is attributed to storage services.
Many of the natural gas volumes required to be reported on this page are tracked at the entity level rather than by discounted, negotiated or recourse rate contracts; therefore, the amounts reported have been allocated to discounted, negotiated or recourse rate contracts based on reasonable assumptions.
Use tax is distributed to various accounts based on the accounts charged for the originating invoice.
Transferred to Account 211 "Miscellaneous Paid-in Capital."