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utr:dth
FERC Form 2 TGP System Map 2026.pdf
1
Vicki A. Phillips
Vice President
/s/ Vicki A. Phillips
2026-04-16
2
Tennessee Gas Pipeline Company, L.L.C.
C000020
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
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Not Prepared
1
1
2
3
5
6
1
3136249
3136249
3393086
3393086
240886663
240886663
7391443
7391443
251671192
3136249
254807441
11551342168
11551342168
11551342168
11551342168
344725363
344725363
11896067531
11896067531
4969221715
4969221715
6926845816
6926845816
4928155765
4928155765
41065950
41065950
4969221715
4969221715
FSF
3813164
3480273
3813164
3480273
2184186
851819
FSMA
25930830
26701370
25930830
26701370
56901352
45440934
FSPA
9435162
9566602
9435162
9566602
14513944
8844552
FTPS
3270000
3270000
3270000
3270000
2024458
1548102
ISMA
160638
224654
160638
224654
1968475
3622417
ISPA
64071
221672
64071
221672
561244
2392837
ESTIMATE
77005
2561
77005
2561
TOTAL
42596860
43467132
42596860
43467132
78153659
62700661
1
2
3
4
5
6
7
8
Bear Creek Storage Company, L.L.C.
J
Gas Storage
0.50
We have a 50 percent ownership interest in Bear Creek Storage Company, L.L.C., a joint venture with our affiliate, Southern Natural Gas Company, L.L.C.
Tennessee Gas Pipeline Issuing Corporation
D
Financing
1.00
1
2
0
925
Operational Sales
43847950
Other Revenue
1000
43849875
12
13
12180731
2465863
12180731
2465863
3000250
998325
70516
44447
70516
44447
7160445
6047165
2013884494
1811281014
2021044939
1817328179
5017962901
4319398254
42596860
43467132
42596860
43467132
78153659
62700661
724945
755242
724945
755242
43849875
10915787
43849875
10915787
7160445
6047165
2113307421
1868929485
2120467866
1874976650
7160445
6047165
2113307421
1868929485
2120467866
1874976650
56938034
-12483065
44454969
750696244
750696244
689708718
689708718
-37340692
-37340692
56938034
11163769
68101803
35755966
2329182
38085148
1.5924
4.7930
1.7881
Unaccounted For Valuation
5701171
Storage Encroachment Revaluation
32041363
T&E Imbalance Revaluation
-2033768
Line Pack Revaluation
-1233861
Imbalance Fuel Charges
-1561264
32913641
1
2
3
4
5
489.2 Revenues from Transportation of gas of others through transmission facilities
521826065
1496183183
1073485918
1439798768
489.4 Revenues from Storing gas of others
6496059
2184186
528322124
1498367369
1073485918
1439798768
1
2
Transportation and Exchange Imbalance Payable
26209735
Litigation Reserves
1570000
Environmental Costs
308170
Minor Items (less than $250,000)
104866
28192771
1
2
3
4
Federal Energy Regulatory Commission Docket No. RM-87-3-2025
6302208
6302208
6302208
182.3
1575552
4726656
Federal Energy Regulatory Commission Docket No. RM-87-3-2024
6166091
6166091
4624568
182.3
4624568
Professional Fees
1854
1854
1854
1854
12468299
1854
12470153
4624568
6304062
6201974
4726656
1
2
3
Kinder Morgan, Inc.
M
DE
1.00
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
1.00
Kinder Morgan Operating LLC "A"
D
DE
1.00
1
2
3
4
5
6
12616
12616
5303630
5303630
69116883
11588637
6144445
74561075
74433129
11588637
6144445
79877321
72587
72587
4092
4092
5911609
5911609
50892720
5989026
235896
56645850
4894998
4894998
2301317
2301317
34171289
-641513
64561
33465215
58146818
58146818
3476458
3476458
3485826
199694
8577
3676943
2014139
2014139
165371853
5547207
309034
170610026
165371853
5547207
309034
170610026
27991610
5410430
33402040
110483000
109820
76259
110516561
195828528
2258451
461244
197625735
5775993833
352973198
4162548
6124804483
4137111389
313493766
17613362
4432991793
206326763
7988679
212982
214102460
28804801
20544
8925349
19899996
23724032
30065
23693967
10506263956
682254888
31481809
11157037035
456278
456278
1332014
51071
1383085
27687201
2223491
25463710
16461368
2915942
2762324
16614986
53223971
1508580
1934327
52798224
6227126
38377
210972
6054531
4688783
169864
614865
4243782
27614101
26073
635455
27004719
9816817
18346
9798471
147507659
4709907
8399780
143817786
147507659
4709907
8399780
143817786
10893576597
704100639
46335068
11551342168
10893576597
704100639
46335068
11551342168
1
1
71302426
6327676
409902
78040004
71302426
6327676
409902
78040004
71302426
6327676
409902
78040004
59757118
6001136
347218
66105472
11545308
326540
62684
11934532
677807542
68263566
3468000
742603108
677807542
68263566
3468000
742603108
677807542
68263566
3468000
742603108
568056597
63918970
2937655
629037912
109750945
4344596
530345
113565196
FSF
42539
330000
330000
16459
330000
330000
18855
330000
330000
FSMA
629508
2115688
2115688
1309354
2122092
2122092
4006319
2148335
2148335
FSPA
207487
775210
775210
103099
778481
778481
632671
774819
774819
FTPS
64804
272500
272500
67251
272500
272500
236620
272500
272500
ISPA
2008
20
20
ESTIMATE
9682
9682
21052
21052
108782
108782
946346
3503100
3503100
1496163
3524125
3524125
4894465
3634436
3634436
1
2
3
4
5
6
11551342168
10893576597
440314397
11333890994
4770932472
6562958522
6926845816
6562958522
110658
110658
84404102
82785043
32459994
30717370
116974754
113613071
193938714
186182530
18742
55907
2026304
552360
66317291
62103510
20191303
15782791
282454870
264565284
3283656
4028958
216314359
207043540
593924
255981
753889076
669432445
1052121019
952063350
8446498262
7937655196
4692257412
4283225757
174321011
126484308
31192950
29573891
7491203
5513485
4905262576
4444797441
2240000000
2240000000
4255377
5123525
2235744623
2234876475
128809732
171615685
7221643
2046279
10549997
9777105
85892006
67763440
28181250
28181250
14238242
288847399
293622001
7963964
8105841
40079770
35622604
154527028
171234746
71469794
71588546
1016643664
964359279
8446498262
7937655196
2120467866
1874976650
456344320
392753254
456344320
392753254
205114480
183092208
205114480
183092208
251671192
238171648
251671192
238171648
3136249
3270523
3136249
3270523
331053720
164477939
331053720
164477939
397537760
235550496
397537760
235550496
126448099
120203245
126448099
120203245
150453121
115332107
150453121
115332107
38692801
31467552
38692801
31467552
68263566
80137321
68263566
80137321
13377517
6444386
13377517
6444386
1220262271
1086910915
1220262271
1086910915
900205595
788065735
900205595
788065735
6919059
7236343
7498820
5474547
20462304
18776070
849324
1231942
66407
35729507
32785309
300
387
45136
52173
3103417
14579751
3148853
14632311
9451128
2312724
1706244
446829
808448
5455047
3877902
3653292
8087918
4561308
24492736
13591690
120975000
120975000
1613450
1587239
27
2979705
3322034
4382689
4504290
121185466
121380010
803512865
680277415
803512865
680277415
4073844
4073844
1439641
1439641
1439641
1439641
681717056
5513485
1977718
1977718
1977718
1977718
805490583
7491203
Distributions of Earnings to Member
211
-754057103
-609478086
1
Amortization of intangible plant
3136249
3270523
Amortization of debt costs
1613450
1587239
4749699
4857762
1
2
Change in gas owed to system
-23646834
26973763
Change in postretirement benefit plan assets
887013
1198455
Change in miscellaneous deferred debits
-1088929
3700660
Change in customer advances for construction
1714088
-1411128
Change in other deferred credits
4329874
5035653
Net (gain)/loss on disposition of property
-66407
-17804788
35430996
1
2
3
4
5
6
Net salvage/(cost of removal)
13467436
27788957
Change in preliminary survey and investigation charges
337943
247661
Change in customer advances for construction
351134
7120685
14156513
35157303
1
2
3
Capital contributions from Member
409031655
395306784
409031655
395306784
1
Distributions to Member
1018053463
830043088
1018053463
830043088
1
4283225757
409031655
4692257412
Transfer from Account 216
754057103
Transfer from Account 236
181435856
Transfer from Account 186
82560504
Distributions to Member
-1018053463
Contributions from Member
409031655
1
2
3
4
5
74905233
13989295
74905233
13989295
10717967
1752161
689708718
230021153
750696244
227797755
141176322
73625359
10258988
8068622
151435310
81693981
19274468
-93885995
-44454659
-93885995
-44454659
816070
785535
44727
65966
35016
29953
180850
72113
8616352
4226028
20256
16099
346228
294628
321098
74423
76373340
72224362
1350
533
-188185
-170735
86567102
77618905
599816
601426
175125
224931
37741
36380
2613
2544
160343
33583
13241
11462
988879
910326
87555981
78529231
87555981
78529231
17546486
15937401
62767
62767
25385
24959
69938181
68024794
138744747
72427353
43064854
35394482
31344117
32698921
7228820
7239278
63298801
38729017
6467991
6502616
903991
840658
378626140
277882246
1774408
1898575
825173
849529
164685508
141241578
34670159
36110609
2008360
1935822
173
527
161820
145242
204125601
182181882
582751741
460064128
-30180
33499
-30180
33499
2649735
3649735
2649735
3649735
29684991
27490974
1670005
1078923
7031120
7082174
2600467
2485269
3925817
3644662
22795471
21582790
6201974
6376667
5058023
5122849
3449650
3159220
82417518
78023528
82417518
78023528
661458800
575845462
126484308
59471322
796593806
673041072
5300000
3450000
174321011
25787548
5300000
3450000
251671192
238171648
51816595
75494690
13675805
22500531
4213781
3705794
224426069
137531282
9270819
11363553
-11236996
-12079722
20462304
18776070
1619059
3786343
1257892868
1099551780
655176851
682533879
20462304
18776070
648871060
698915112
34099636
-648871060
-664815476
409031655
395306784
-609021808
-434736304
3251845
887013
Health and life insurance
13410713
Long-term disability insurance
283458
401K Employer contributions
4645493
Other
316949
6
7
8
9
192042
192042
58487232
58487232
29684991
29684991
88364265
88364265
234427
234427
32211544
32211544
32445971
32445971
426469
426469
90698776
90698776
29684991
29684991
120810236
120810236
120810236
120810236
6255815
6255815
6255815
6255815
1381090
1381090
1381090
1381090
Account 186
367908
367908
367908
367908
128815049
128815049
74
3B Inspection LLC
1144133
Abrams Technical Services Inc
822210
Aces Automation Inc
471768
Allied Valve Inc
307593
Appellation Construction
1824793
Applied Construction Solutions
2265964
Atlas Copco USA Holdings Inc
671883
Bannister Electric of West Monroe, LLC
2770976
Baywater Pipeline Services LLC
391009
Beemac Inc
525801
Bi-Con Services Inc
316465
Bowen Industrial Contractors
522282
Bracewell LLP
1663061
Bradley Arant Boult Cummings
849253
Burns & Mcdonnell Engineering
310403
Castle Energy Group LLC
674745
Charps LLC
1362050
Chet Morrison Contractors LLC
24160937
Clean Recompression LLC
1031442
Coastal Corrosion Control Inc
1924447
Coby Construction
1179287
Cooper Machinery Services LLC
2002799
Credo Services LLC
835192
DNOW LP
838313
Duphil Inc
2439515
Eagle Compression LLC
970685
Edge Engineering & Science LLC
899657
Edgen Murray Corporation
970787
Ensite USA Inc
726138
Exline Inc
1389171
Farnsworth Group Inc
5004946
Flow-Zone LLC
563310
Fox Construction Inc
805578
Frontier Integrity Solutions
1566604
G & S Land Solutions Inc
328178
Gas Field Specialists Inc
274265
Gonzalez-Strength & Associates
331006
Gulf Coast Pipeline Services
1985458
Gulfstate LLC
288764
H&H X-Ray Services Inc
419911
Holt Industrial Systems
305000
Houston Oil Metering and Enterprises LLC
469753
ICC Commonwealth
2092895
Industrial Piping Specialists
503262
International Inspecting Inc
11072122
Iron Horse Energy Services Inc
722290
Ironclad Environmental
315900
J H Operating Company LLC
508597
JD Fields & Company Inc
1080911
JRGO LLC
3820118
Kean Miller LLP
2337667
Kestrel Field Services Inc
5421412
Keystone Energy Group LLC
644873
KT Mac Enterprises LLC
346917
Liberty Energy Services
2833980
LMC Industrial Contractors Inc
979490
MDM Solutions LLC
390564
MG Dyess LLC
11043483
Michels Pipeline Inc
4517183
Natural Energy Field Services
9300577
Nexus Integrity Management LLC
2381647
OMC International LLC
433019
Onshore Quality Control
1531803
Otis Minnesota Services
3469011
Partner Industrial LLC
651027
Pipeline Environmental & Compression Industries
25693674
Pinnacle Resources Group LLC
264477
Pipeline Construction & Maintenance
2272056
Pipeline Safety LLC
990080
Pl-Enerserv LLC
3184989
Primoris Energy Services Corp
346903
Primoris Services Corporation
575966
Providence Engineering and Environmental Group LLC
304306
PSM Integrity Solutions LLC
544237
Pumpco Inc
2870267
Quality Integrated Services
487759
Quarter Turn Resources Inc
454600
Reco Energy Solutions LLC
506161
Reserve Equipment Inc
385574
Sharper Image Lawn & Landscape
380789
Six C Fabrication Inc
39279550
Solar Turbines Incorporated
8286592
Southeastern Pipeline & Environmental Services
7595504
Stantec Consulting Svcs Inc
1532402
Summit Off Duty Services LLC
676506
Sunland Construction Inc
46318101
SWCA Environmental Consultants
9497693
T Baker Smith LLC
432910
Tablerock Survey LLC
2443815
TAF Aerial Services LLC
448110
TDW (US) Inc
450190
TKE Engineering & Design Inc
1976091
TRC Pipeline Services LLC
15007202
Trinity Consultants
261911
Troy Construction LLC
125671898
Tulsa Inspection Resources LLC
289671
UPS Midstream Services LLC
1673701
Vetra Construction Services
1961001
Viking Well Service Inc
347457
Weldfit LLC
1717254
Whitetail Oilfield Svcs LLC
599592
Other (less Than $250,000)
30896345
471629614
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
249900
Shared Service Allocations
4808123
6
Directly Charged Salaries and Wages
Kinder Morgan, Inc.
Various
118499749
Other Compensation and Benefits
Kinder Morgan, Inc.
Various
17860536
Shared Services
Kinder Morgan, Inc.
Various
38400724
Post-retirement benefits other than pension transfer
Kinder Morgan, Inc.
926
2500000
Construction Overheads
Kinder Morgan, Inc.
Various
34330836
Cashout Settlement
Midcontinent Express Pipeline LLC
803
2431085
Contract Storage
Kinder Morgan Texas Pipeline LLC
824
20330950
Contract Storage
Bear Creek Storage Company, L.L.C.
824
12987531
Contact Storage
Arlington Storage Company, LLC
824
2403613
Contract Storage
Stagecoach Pipeline & Storage Company LLC
824
2361864
Transportation Agreement
Southern Natural Gas Company, L.L.C.
858
24577426
Other, less than $250,000
Various
36045
276720359
Transportation Revenue
Arlington Storage Company, LLC
489.2
3319074
Transportation Revenue
Kinder Morgan Tejas Pipeline LLC
Various
3036588
Transportation and Storage Revenue
Kinder Morgan Gas Marketing, LLC
Various
3499983
Transportation and Storage Revenue
Stagecoach Energy Solutions LLC
Various
-3319074
Other, less than $250,000
Various
42577
6579148
2
3
4
5
6
7
8
9
10
11
12
13
16
17
18
19
20
33328
27647
60975
2027-03-15
1997-03-13
820785
300000000
Debentures - 7.00% Series Due 2027
32988
11828
44816
2028-10-15
1998-10-09
347500
400000000
Debentures - 7.00% Series Due 2028
54712
4863
59575
2037-04-01
1997-03-13
186021
300000000
Debentures - 7.625% Series Due 2037
21793
3376
25169
2032-06-15
2002-06-10
83091
240000000
Notes - 8.375% Series Due 2032
3140835
697588
3838423
2030-03-01
2020-02-24
6916821
1000000000
Senior Notes - 2.90% Series Due 2030
152713
126677
279390
2027-03-15
1997-03-13
3801000
300000000
Debentures - 7.00% Series Due 2027
827537
296726
1124263
2028-10-15
1998-10-09
8936000
400000000
Debentures - 7.00% Series Due 2028
1867416
165993
2033409
2037-04-01
1997-03-13
6648000
300000000
Debentures - 7.625% Series Due 2037
508998
78846
587844
2032-06-15
2002-06-10
2366400
240000000
Notes - 8.375% Series Due 2032
898713
199906
1098619
2030-03-01
2020-02-24
1990000
1000000000
Senior Notes - 2.90% Series Due 2030
2
3
4
5
6
8
10
11
12
13
14
Other (less than $250,000)
300
Other (less than $250,000)
45136
Environmental reserve
6358
Litigation reserve
3097059
Other (less than $250,000)
Third party deposit interest (FERC interest rate)
777316
Safety tracker interest (FERC interest rate)
6349
Electric Power Costs tracker interest (FERC interest rate)
44530
Operational flow order interest (FERC interest rate)
122948
Interest on accrued over-collected environmental balances from shippers (FERC interest rate)
1767332
Letter of credit interest (1.50% maintenance fee/0.125% fronting fee)
8704
EPA fee
6826
Trustee fees
66142
Sales and Use Tax interest on audit adjustements
179558
1
3
5
7
8
10
11
13
14
15
17
18
20
21
22
23
24
25
26
27
28
29
Eastern Gas Transmission and Storage Inc
Leased capacity through October 2027 of 150,000 Dth/day on transmission pipeline located in Pennsylvania and New York
8760000
National Fuel Gas Supply Corp.
Leased capacity through October 2030 of 140,000 Dth/day on transmission pipeline located in Pennsylvania and New York
13286004
Kinder Morgan Texas Pipeline LLC
true
Leased capacity through March 2031 of 50,000 Dth/day on transmission pipeline located in Texas
2200950
Southern Natural Gas Company, L.L.C.
true
Leased capacity through June 2045 of 1,100,000 Dth/day on transmission pipeline located in Mississippi
24577426
48824380
1
2
3
4
Joint Interest Deferral
2805504
4651578
Various
5899578
1557504
Advance of Deferred Income Taxes to Member
653760188
82560504
736320692
Revenue Levelization
7394044
17221011
Various
14618292
9996763
System Inventory Activity
257450
Various
257450
5215259
6014117
104433093
20775320
1
2
3
4
1
1
21000000
0.07
300000000
2027-03-15
1997-03-13
Debentures - 7.00% Series Due 2027
28000000
0.07
400000000
2028-10-15
1998-10-09
Debentures - 7.00% Series Due 2028
22875000
0.07625
300000000
2037-04-01
1997-03-13
Debentures - 7.625% Series Due 2037
20100000
0.08375
240000000
2032-06-15
2002-06-10
Note - 8.375% Series Due 2032
29000000
0.029
1000000000
2030-03-01
2020-02-24
Senior Notes - 2.90% Series Due 2030
120975000
120975000
2240000000
2
3
4
5
6
9
12
15
Tennessee Gas Pipeline Issuing Corporation
Capital Contribution
1000
1000
Subtotal
2011-10-01
1000
1000
Bear Creek Storage Company, L.L.C.
Capital Contribution
53210152
53210152
Unappropriated Undistributed Subsidiary Earnings
29573891
6919059
5300000
31192950
Subtotal
2009-12-18
82784043
6919059
5300000
84403102
53211152
5300000
1
2
13
14
15
19
26
Eastern Gas Transmission and Storage: Receipt New York, Pennsylvania, Ohio; Delivery - New York, Pennsylvania
10347191
33580000
Eastern Gas Transmission and Storage: Receipt - New York; Delivery - Pennsylvania
8760000
53400000
National Fuel: Receipt - Pennsylvania; Delivery - New York
13315455
54196250
Transcontinental Gas Pipeline: Receipt - New Jersey; Delivery - New Jersey
4510229
24907010
Pine Prairie Energy Center: Receipt - Louisiana; Delivery - Louisiana
1788500
Southern Natural Gas Company: Receipt - Mississippi; Delivery - Mississippi
true
24577426
91683714
Minor Items (less than 1,000,000 Dth)
true
30000
257796974
1
2
3
4
5
6
7
929490
1470259
1724830
4124579
3229885
5109003
5993612
14332500
65578
65578
227877
227877
929490
1470259
1790408
4190157
3229885
5109003
6221489
14560377
961581
1521021
1784382
4266984
3341398
5285396
6200549
14827343
Various
810
-123432
-123432
-428914
-428914
810
819
961581
1521021
1660950
4143552
3341398
5285396
5771635
14398429
57981
91714
107593
257288
201478
318697
373875
894050
8569
8569
29776
29776
Various
117.4
19541
30910
36262
86713
67903
107409
126007
301319
Various
812
77522
122624
152424
352570
269381
426106
529658
1225145
61898
97910
114863
274671
215089
340227
399137
954453
813
812
61898
97910
114863
274671
215089
340227
399137
954453
-171511
-271296
-318270
-761077
-595983
-942726
-1105956
-2644665
180441
180441
627015
627015
-171511
-271296
-137829
-580636
-595983
-942726
-478941
-2017650
Other Dispositions
Gas due from shippers
171511
271296
137829
580636
595983
942726
478941
2017650
182.3/254
407.3/407.4
171511
271296
137829
580636
595983
942726
478941
2017650
23
23
766922
1688622
1889007
4344551
3675857
8093565
9054011
20823433
45501
45501
218086
218086
766922
1688622
1934508
4390052
3675857
8093565
9272097
21041519
829332
1826038
2042729
4698099
3974988
8752200
9790800
22517988
Various
810
193366
193366
926803
926803
819
810
829332
1826038
2236095
4891465
3974988
8752200
10717603
23444791
45788
100818
112782
259388
219462
483221
540564
1243247
9436
9436
45227
45227
Various
117.4
11479
25275
28274
65028
55019
121143
135517
311679
Various
812
57267
126093
150492
333852
274481
604364
721308
1600153
141623
311828
348833
802284
678799
1494592
1671957
3845348
813
812
141623
311828
348833
802284
678799
1494592
1671957
3845348
-261300
-575337
-643611
-1480248
-1252411
-2757591
-3084827
-7094829
-157301
-157301
-753944
-753944
-261300
-575337
-800912
-1637549
-1252411
-2757591
-3838771
-7848773
Other Dispositions
Gas due from shippers
261300
575337
800912
1637549
1252411
2757591
3838771
7848773
182.3/254
407.3/407.4
261300
575337
800912
1637549
1252411
2757591
3838771
7848773
812513
1407942
1725200
3945655
1914199
3316971
4064399
9295569
See Footnote
144593
144593
340647
340647
812513
1407942
1869793
4090248
1914199
3316971
4405046
9636216
769240
1332958
1633319
3735517
1812253
3140316
3847936
8800505
Various
810
199971
199971
471112
471112
819
810
769240
1332958
1833290
3935488
1812253
3140316
4319048
9271617
52570
91095
111623
255288
123850
214611
262973
601434
10112
10112
23823
23823
Various
117.4
11691
20258
24823
56772
27543
47726
58481
133750
Various
812
64261
111353
146558
322172
151393
262337
345277
759007
46491
80561
98715
225767
109528
189794
232563
531885
813
812
46491
80561
98715
225767
109528
189794
232563
531885
-67479
-116930
-143280
-327689
-158975
-275476
-337554
-772005
-65490
-65490
-154288
-154288
-67479
-116930
-208770
-393179
-158975
-275476
-491842
-926293
Other Dispositions
Gas due from shippers
67479
116930
208770
393179
158975
275476
491842
926293
182.3/254
407.3/407.4
67479
116930
208770
393179
158975
275476
491842
926293
1173247699
90588396
1263836095
2033047
2033047
2033047
Investment Advance - Open Account - Kinder Morgan, Inc.
5
3
1
Matthew J. Wojtalewicz
Vice President and Controller
1001 Louisiana Street, Suite 1000, Houston, TX 77002
true
false
Tennessee Gas Pipeline Company (TGP) was originally organized as a Delaware corporation on June 9, 1947. TGP was converted to a Delaware limited liability company on October 1, 2011 and its name changed to Tennessee Gas Pipeline Company, L.L.C.
Respondent was primarily engaged in the transmission of natural gas through an integrated system in the following states: Alabama, Arkansas, Connecticut, Kentucky, Louisiana, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas,
and West Virginia.
false
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">1. None.</font> </p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">2. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">3. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">4. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">5. See Page 122.1, Notes to Financial Statements, Note 8 "Rate and Regulatory Matters."</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">6. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">7. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">8. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">9. See Page 122.1, Notes to Financial Statements, Note 9 "Litigation, Environmental and Commitments."</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">10. None.</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">11. None.</font></p></div>
<div><p><font style="font-size: 18pt;"><font style="font-family: arial, helvetica, sans-serif;">12. Changes made during the year ended December 31, 2025:</font> </font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">Appointments:</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Sital Mody - President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Michael Chandler - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Michelle Grant - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Ernestine Oriadha - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Jacquelyne Rocan - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Steven Romano - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Daryl Vance - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;"> </font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">Resignations:</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Anders Johnson - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   William E. Morgan - Vice President, Operational Controller</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Christa Robbins - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Dayton Robertson - Vice President</font></p>
<p><font style="font-family: arial, helvetica, sans-serif; font-size: 18pt;">   Daryl Vance - Vice President</font></p></div>
<div><p><font style="font-family: arial, helvetica, sans-serif; font-size: 24px;">13. N/A.</font></p></div>
2026-01-31
35845
35845
4835387
10142082
14977469
-10470
98053
87583
Swing on Storage or Storage Swing Option
309512
194498
504010
Authorized Overrrun
786
28225
29011
Leased Capacity
991633
991633
6126848
10498703
16625551
1009498
1009498
Swing on Storage or Storage Swing Option
194498
194498
1203996
1203996
231519
475063
706582
Operational Balancing Agreements
-972525
-96626
-1069151
Park and Loan
-1000
172218
171218
-742006
550655
-191351
2026-01-29
119331
119331
13253183
30294012
43547195
-44511
399656
355145
Swing on Storage or Storage Swing Option
1053289
484872
1538161
Authorized Overrrun
17193
109936
127129
Leased Capacity
3021698
3021698
17300852
31407807
48708659
2916620
2916620
Swing on Storage or Storage Swing Option
484872
484872
3401492
3401492
902675
1850691
2753366
Operational Balancing Agreements
-2093430
-636065
-2729495
Park and Loan
39952
488878
528830
-1150803
1703504
552701
Harrison Field - Potter County, PA & Steuben County, NY
Underground Storage
234840
56594968
true
Hebron Field - Potter County, PA
Underground Storage
402857
47052299
true
Ellisburg Field - Potter County, PA
Underground Storage
420178
64990007
true
Bear Creek Field - Bienville Parish, LA
Underground Storage
463500
true
1
2
3
4
Mississippi-Kosci Crossing Expansion
109025744
1597557267
TVA Cumberland Expansion
157525211
51353189
Pelican Expansion
2570441
121254432
Muskrat Expansion
2170659
48698721
Pipe Replacement and Recoating
17093665
18242958
Evangeline Pass Expansion (7c Filings)
1369493
30703015
South Texas Enhancement Expansion
1854275
24990672
Entergy Sawgrass Assignment Expansion
4105714
14938663
Pipeline Valve Projects
11139515
5652511
Compressor Station Projects
7548928
6222379
Station 40 - Carthage Expansion
5663593
2033133
AIRREG Project - Compressors Replacements
1699109
5601643
Make Pipelines Piggable Projects
3527859
2133187
Overhauls, Turbochargers and Turbines Exchanges
4111214
1262667
Ellisburg and Harrison Joint Venture Projects
3191795
2408
Evangeline Pass Expansion (Non 7c filings)
1582278
199983
Underground Storage
1531107
9442
Regulators
49779
1477010
Leak Detection Equipment
373625
1129231
Cathodic Protection
1292700
107511
Meter Projects
1296291
4176
Station 241 Compressor Upgrade
1041012
4721
Miscellaneous Construction Projects Under $1,000,000
4961356
784232
1934363151
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
71588546
1579119
808448
219
651919
71469794
71588546
1579119
808448
219
651919
71469794
1579119
808448
219
651919
59996867
693910
684816
219
552224
60539997
11591679
885209
123632
219
99695
10929797
Alabama
AL
Fully Owned and Operated by Respondent
224.1
Arkansas
AR
Fully Owned and Operated by Respondent
131.7
Connecticut
CT
Fully Owned and Operated by Respondent
140.3
Kentucky
KY
Fully Owned and Operated by Respondent
1616.1
Louisiana
LA
Fully Owned and Operated by Respondent
1626.6
Massachusetts
MA
Fully Owned and Operated by Respondent
603.6
Mississippi
MS
Fully Owned and Operated by Respondent
1607.7
New Hampshire
NH
Fully Owned and Operated by Respondent
80.8
New Jersey
NJ
Fully Owned and Operated by Respondent
91.2
New York
NY
Fully Owned and Operated by Respondent
806.2
Ohio
OH
Fully Owned and Operated by Respondent
876.5
Pennsylvania
PA
Fully Owned and Operated by Respondent
933.7
Rhode Island
RI
Fully Owned and Operated by Respondent
34.7
Tennessee
TN
Fully Owned and Operated by Respondent
1213.2
Texas
TX
Fully Owned and Operated by Respondent
1533.3
West Virginia
WV
Fully Owned and Operated by Respondent
177.4
Louisiana
LA
Jointly Owned and Operated by Respondent
true
31.5
New York
NY
Jointly Owned and Operated by Respondent
true
49.2
11697.1
80.7
11777.8
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Income Tax Gross Up on AFUDC Equity
Remaining life of assets
Pursuant to Docket No. AI93-5-000 issued April 23, 1993 (Accounting for Income Taxes)
59148901
6961478
407.3
2471380
63638999
FERC Annual Charge Adjustment
12 months ending September 30
Pursuant to 18 CFR 154.402 (a) and 18 CFR 382.202
4624568
6302208
928
6200120
4726656
Offshore Asset Sale
20 years beginning September 2013
Pursuant to Docket Nos. CP12-490 and RP12-887, filed July 26, 2012
86916008
407.3
10028768
76887240
Cashout Tracker
Pursuant to Section 7(g) of the LMS-MA Rate Schedule of our tariff
55128541
122214491
Various
121433703
55909329
Pipeline Safety Cost Tracker
Pursuant to Article XXXVIII of the General Terms and Conditions of our tariff
1225522
18458708
Various
15544502
4139728
Electric Compression
Pursuant to Article XXXVII of the General Terms and Conditions of our tariff
34412032
407.3
26808498
7603534
Fuel Tracker
Pursuant to Article XXXVII of the General Terms and Conditions of our tariff.
34347864
407.3
30938991
3408873
222696780
213425962
1
2
3
4
5
6
7
Deferral of System Inventory
Various
20247542
20392699
145157
Park and Loan Deferred Revenue
8555875
489.2
39648652
45016966
13924189
Environmental Liability
2480512
Various
365783
50806
2165535
Litigation Reserve
285000
285000
Revenue Levelization
24353155
489.2
1601603
486000
23237552
OFO and Daily Imbalance Charge
Various
3695791
3770919
75129
Minor Items (less than $250,000)
233062
242
1063
15209
247208
65560433
70017599
1
2
3
4
5
6
7
Deferred Income Tax Rate Adjustment (amortized through September 2046)
118769361
411.1
5470722
113298639
Daily Imbalance Charge
491997
Various
479853
503101
515245
Penalty Revenue Credit
162659
Various
2345174
2868945
686430
Environmental Regulatory Liability
18859382
1767332
20626714
ASC 715 Fund Asset Transfer
21700000
407.4
4800000
2500000
19400000
Fuel Tracker
7348806
Various
141212215
133863409
Electric Compression
3902541
Various
13641954
9739413
167949918
151242200
1
2
3
4
5
6
7
26311034
36618574
62929608
83756466
174
8
946911
2025-01-22
4726858325
4726858325
251671192
251671192
251671192
251671192
40190623
40190623
25012864
25012864
14805256
14805256
50398231
50398231
Miscellaneous Transfer
-24479
-24479
4928155765
4928155765
68729750
68729750
4764052083
4764052083
95373932
95373932
23
23
23
819 & 854
41981796
812 Gas Used for Other Utility Operations - Credit
Gas Used - Construction Orders
107
410015
1006444
Gas Used - Unaccounted For
813
1546310
5701171
Gas Used - Other Fuel Compressor Stations
855
110730
432824
Gas Used - Mains Operations
856
649726
2051108
Gas Used - Maintenance of Mains
863
330303
1067441
45028880
5
6
7
8
9
10
Station 313 - Coudersport, PA
Underground Storage Compressor Stations
4
5280
10683357
PT16974H
4
2025-04-19
Ellisburg, PA
Underground Storage Compressor Stations
28341587
Harrison, PA
Underground Storage Compressor Stations
23207186
Other Underground Storage
Underground Storage Compressor Stations
1746980
587015
Subtotal Underground Storage Compressor Stations
4
5280
62232130
1746980
587015
PT16974H
4
Station 1 - Agua Dulce, TX
Transmission Compressor Stations
12
17800
25566758
585208
2043788
195327
PT17880H
5
2025-09-26
Station 3A - Sinton, TX
Transmission Compressor Stations
1
10915
41053300
3080
477282
1183
PT19H
1
2025-05-20
Station 9 - Victoria, TX
Transmission Compressor Stations
8
14000
73452456
51160
756412
18683
PT671H
6
2025-04-23
Station 11A - Edna, TX
Transmission Compressor Stations
1
20500
48914056
406292
503258
154791
PT1643H
1
2025-10-21
Station 17 - East Bernard, TX
Transmission Compressor Stations
2
22700
39958425
838056
825228
179788
PT1657H
2
2025-02-20
Station 25 - Cleveland, TX (Electric)
Transmission Compressor Stations
3
25600
73011759
1934002
836961
9288000
PT2012H
2
2025-11-05
Station 32 - Jasper, TX
Transmission Compressor Stations
20
26750
66236609
1395174
2561781
345558
PT28643H
17
2025-11-05
Station 40 - Natchitoches, LA
Transmission Compressor Stations
3
30400
118527305
1647478
2414547
474691
PT8101H
2
2025-12-27
Station 47 - West Monroe, LA
Transmission Compressor Stations
11
38510
81792476
1761226
2559910
417250
PT13475H
7
2025-02-20
Station 54 - Greenville, MS (Electric/Gas)
Transmission Compressor Stations
16
38970
60753291
236585
2350702
1689561
42792
9983456
PT4326H
10
2025-02-18
Station 63 - Batesville, MS
Transmission Compressor Stations
23
38150
63223469
1222773
2513927
242158
PT16226H
14
2025-02-18
Station 71 - Middleton, TN
Transmission Compressor Stations
23
34350
55122920
973642
1691288
178959
PT12467H
16
2025-02-18
Station 79 - Lobelville, TN
Transmission Compressor Stations
3
39099
75910383
2307
469746
531
PT11H
2
2025-09-29
Station 87 - Portland, TN
Transmission Compressor Stations
22
49700
69173170
4729130
3256675
1428113
PT68907H
12
2025-12-13
Station 96 - Campbellsville, KY (Electric/Gas)
Transmission Compressor Stations
21
41200
68108398
1972108
4722436
2752221
588593
92584494
PT63881H
10
2025-12-03
Station 106 - Clay City, KY (Winchester)
Transmission Compressor Stations
18
59800
178735706
7192256
4204129
2246620
PT57701H
12
2025-05-05
Station 107A - North Means, KY
Transmission Compressor Stations
2
4390
8357032
36
142323
11
PT3H
2
2025-12-16
Station 110 - Morehead, KY (Electric)
Transmission Compressor Stations
4
37100
95584722
8010231
617561
147008691
PT20974H
4
2025-12-02
Station 114 - Catlettsburg, KY (Electric/Gas)
Transmission Compressor Stations
11
34801
106967165
4248017
2283500
1403265
1270237
5617500
PT9567H
1
2025-10-17
Station 118A - Tyler Mountain, WV
Transmission Compressor Stations
1
10771
87429592
1312577
357805
417235
PT5612H
1
2025-11-10
Station 119A - Rocky Fork, WV
Transmission Compressor Stations
1
20500
80141816
3644205
605554
1090528
PT7261H
1
2025-01-14
Station 200 - Greenup, KY
Transmission Compressor Stations
13
24200
51195217
3911131
2363083
1242610
PT82434H
13
2025-05-17
Station 204 - Albany, OH
Transmission Compressor Stations
12
22970
32624759
3891772
2920339
1217577
PT73388H
12
2025-05-16
Station 209 - Cambridge, OH (Cumberland)
Transmission Compressor Stations
13
21000
34876963
3435035
2919232
1066859
PT79801H
13
2025-04-04
Station 214 - Carrollton, OH
Transmission Compressor Stations
13
19880
35486755
1764632
2431056
591899
PT42117H
12
2025-07-10
Station 219 - Mercer, PA
Transmission Compressor Stations
14
21550
51618086
2793577
2738514
855420
PT67109H
13
2025-08-15
Station 224 - Clymer, NY
Transmission Compressor Stations
4
8000
17255934
100359
739829
29024
PT978H
4
2025-12-09
Station 229 - Hamburg, NY
Transmission Compressor Stations
6
8400
30363439
691288
1160207
174257
PT12370H
3
2025-12-31
Station 230C - Lockport, NY
Transmission Compressor Stations
4
18000
25347410
3943797
147450
1204094
PT25383H
3
2025-03-13
Station 233 - Geneseo, NY
Transmission Compressor Stations
2
7000
16260864
1780
185523
777
PT15H
2
2025-09-10
Station 237 - Clifton Springs, NY
Transmission Compressor Stations
3
8000
21222030
439069
1120279
99106
PT3996H
3
2025-01-21
Station 241 - Lafayette, NY
Transmission Compressor Stations
5
18400
54997169
2524901
2162306
715390
PT25989H
5
2025-02-27
Station 245 - West Winfield, NY
Transmission Compressor Stations
9
20219
86703054
2918314
1579041
797425
PT16618H
5
2025-01-07
Station 249 - Carlisle, NY
Transmission Compressor Stations
4
16200
47701023
2457480
1445542
688730
PT23797H
4
2025-01-09
Station 254 - Nassau, NY
Transmission Compressor Stations
7
18710
66796450
2024139
926397
480270
PT17706H
7
2025-02-05
Station 260A - Southwick, MA (Northampton Lateral) (Electric)
Transmission Compressor Stations
1
2100
16087169
472433
180992
1383656
PT1952H
1
2025-10-24
Station 261 - Agawam, MA (Electric/Gas)
Transmission Compressor Stations
4
22717
71901181
2104125
997577
910969
485312
3875200
PT11419H
4
2025-12-27
Station 264 - Charlton City, MA
Transmission Compressor Stations
2
12552
41342689
2213388
426026
598187
PT11511H
2
2025-02-01
Station 265E - Burrillville, RI (Rise)
Transmission Compressor Stations
1
7170
19937245
1305978
414548
380857
PT7756H
1
2025-01-06
Station 266A - Mendon, MA
Transmission Compressor Stations
3
9170
31213850
1031501
344112
271430
PT7231H
1
2025-07-18
Station 267 - Hopkinton, MA
Transmission Compressor Stations
5
5000
22767328
523480
606776
107273
PT7041H
3
2025-12-05
Station 270B1 - Concord, NH (Pelham)
Transmission Compressor Stations
1
6053
22330614
415
214232
73
PT1H
1
2025-01-31
Station 303 - Seneca, PA 303A
Transmission Compressor Stations
1
16000
40308697
1444089
230925
466595
PT4235H
1
2025-01-21
Station 307 - Pigeon, PA (Marienville)
Transmission Compressor Stations
6
15500
50506985
2440698
1879907
774129
PT38876H
6
2025-07-31
Station 310 - Smethport, PA
Transmission Compressor Stations
1
16000
43377733
935796
323742
316711
PT2892H
1
2025-06-14
Station 313 - Coudersport, PA (Electric/Gas)
Transmission Compressor Stations
10
24170
82774804
341
2124020
2871433
90
19571970
PT31237H
9
2025-10-01
Station 313A Elllisburg, PA
Transmission Compressor Stations
2
4730
15108627
1538936
246998
458576
PT4H
2
2025-09-03
Station 315 - Wellsboro, PA
Transmission Compressor Stations
2
28630
76055325
4440479
665553
1429893
PT13055H
2
2025-08-07
Station 317 - Troy, PA (Electric/Gas)
Transmission Compressor Stations
2
28900
72054093
190103
188095
432544
73597
1290762
PT779H
1
2025-10-08
Station 319 - Wyalusing, PA
Transmission Compressor Stations
1
20500
74993737
2708
328543
1120
PT21H
1
2025-10-08
Station 321 - West Clifford, PA
Transmission Compressor Stations
5
36320
123551869
3404687
855567
779846
PT13553H
5
2025-01-24
Station 323A - Hawley, PA (Lackawaxen) (Electric)
Transmission Compressor Stations
2
25400
67741091
8938134
497655
124602000
PT15885H
2
2025-01-11
Station 325 - Sussex, NJ
Transmission Compressor Stations
3
40872
139202062
5565223
1425340
1547204
PT15022H
3
2025-12-27
Station 327 - West Milford, NJ
Transmission Compressor Stations
1
19000
128913331
5048044
207781
26875580
PT2693H
1
2025-01-07
Station 405A - Connexion, NY (Avoca)
Transmission Compressor Stations
1
7700
18335302
1200055
274372
327758
PT5248H
1
2025-01-22
Station 409 Edinburg, TX (Rio Bravo)
Transmission Compressor Stations
3
14320
42870129
1001867
903589
340527
PT14350H
2
2025-11-25
Station 409A Edinburg, TX (Alamo)
Transmission Compressor Stations
2
4450
14186130
618
325362
195
PT2H
1
2025-12-16
Station 500 - Natchitoches, LA
Transmission Compressor Stations
1
4498
9998111
953615
367263
279695
PT6802H
1
2025-02-10
Station 504 - Pitkin, LA
Transmission Compressor Stations
2
6900
12532689
707404
364248
212510
PT6327H
1
2025-02-13
Station 523R - Cocodrie Lirette, LA
Transmission Compressor Stations
1
3594
34552495
131654
250
49173
PT2085H
1
2025-12-08
Station 527 - Port Sulfur, LA (Electric/Gas)
Transmission Compressor Stations
4
42214
168878332
1221689
3225993
3113220
441739
34840000
PT15504H
1
2025-04-15
Station 529: Yscloskey, LA
Transmission Compressor Stations
1
23470
85805203
965466
577903
360320
PT3106H
1
2025-11-02
Station 530 - Bay St. Louis, MS
Transmission Compressor Stations
9
25100
67742153
550626
1846306
169522
PT6990H
6
2025-07-31
Station 534 - Purvis, MS
Transmission Compressor Stations
7
26000
36358011
918404
2924164
302312
PT16322H
5
2025-12-16
Station 538 - Heidelberg, MS
Transmission Compressor Stations
9
27107
61288211
1850373
2281408
559586
PT17880H
6
2025-09-25
Station 542 - Dekalb, MS
Transmission Compressor Stations
5
29500
52146363
4098991
3124585
1230403
PT24437H
4
2025-12-02
Station 546 - Columbus, MS
Transmission Compressor Stations
8
30000
36857846
4308138
1553010
1262781
PT42468H
7
2025-12-31
Station 550 - Hamilton, AL
Transmission Compressor Stations
5
29500
49301196
4329563
2599346
1302342
PT24423H
4
2025-11-27
Station 555 - Collinwood, TN
Transmission Compressor Stations
7
25000
27879312
5095449
1993884
1503716
PT47995H
7
2025-12-14
Station 563 - Joelton, TN
Transmission Compressor Stations
2
60000
135639001
7794982
1036456
2338239
PT15334H
2
2025-11-16
Station 703A - Mansfield, LA
Transmission Compressor Stations
1
7700
21108899
1697
178304
579
PT14H
1
2025-07-14
Station 820 - Starks, LA
Transmission Compressor Stations
2
9150
12283484
37
230991
13
Station 823 - Kinder, LA
Transmission Compressor Stations
13
32650
73662761
2489493
3765981
766161
PT33602H
5
2025-08-15
Station 827 - Alexandria, LA
Transmission Compressor Stations
1
15900
30819668
1696133
451674
614593
PT6147H
1
2025-04-06
Station 834 - Winnsboro, LA
Transmission Compressor Stations
7
11350
41409717
1169707
2591596
389495
PT25762H
6
2025-11-25
Station 836A - Delhi, LA
Transmission Compressor Stations
1
15900
42238427
336067
489589
121205
PT1295H
1
2025-11-17
Station 838 - Lake Providence, LA
Transmission Compressor Stations
8
16350
15266095
348440
Station 843 - Isola, MS
Transmission Compressor Stations
9
14350
11628440
303277
821861
59956
PT667H
6
2025-12-14
Station 847 - Coffeeville, MS (Electric)
Transmission Compressor Stations
2
13400
30872888
1136863
380403
101712
PT1H
2
2025-02-20
Station 851 - New Albany, MS
Transmission Compressor Stations
8
13600
15611298
82292
599394
15132
PT1191H
4
2025-02-20
Station 856 - Savannah, TN
Transmission Compressor Stations
2
12500
17512718
170222
Station 860 - Centerville, TN
Transmission Compressor Stations
10
31600
112772704
3989494
2359892
1239044
PT37102H
6
2025-07-22
Station 871 - Campbellsville, KY
Transmission Compressor Stations
3
13500
22441613
1291080
1667262
412101
PT13428H
2
2025-06-03
Station 871A - Dry Creek, KY
Transmission Compressor Stations
2
2400
4387574
4309
359853
912
PT195H
1
2025-01-09
Station 875 - Richmond, KY
Transmission Compressor Stations
1
16000
59975333
1991736
481796
703201
PT6391H
1
2025-04-01
Subtotal Transmission Compressor Stations
505
1775022
4597000494
138744747
41432030
106768287
41150589
477023021
PT1372969H
360
4659232624
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
00 FT-A
721379
643864
141160648
125009984
141882027
125653848
508531328
459902471
00 FT-G
2072
745
155262
55080
157334
55825
1453156
532014
00 FT-GS
24
25
4327
4591
4351
4616
17319
17986
00 FTPS
2853
2725
8462
7839
11315
10564
2014727
1946144
00 IT
33551
39593
1456034
1573526
1489585
1613119
23925509
28280487
00 LMSMA
216
80
54339
41802
54555
41882
152809
57502
00 PAL-T
32980296
25510335
32980296
25510335
01 FT-A
1485949
1468965
285464813
275011487
286950762
276480452
1049649677
1049259483
01 FT-G
32871
35052
7674083
8165753
7706954
8200805
23265177
25037143
01 FT-GS
12921
12699
3465655
3621492
3478576
3634191
9133049
9070053
01 FTPS
12203
15164
2471724
2500000
2483927
2515164
8626380
10833100
01 IT
2223
4558
356419
783824
358642
788382
1555243
3255446
01 LMSMA
-1228
-818
292174
299957
290946
299139
-885164
-583285
01 LMSPL
-151
347
-935
2006
-1086
2353
-115477
247475
01 PAL-T
32681770
25906698
32681770
25906698
02 FT-A
87590
92920
34879995
27188421
34967585
27281341
61935883
66371210
02 FT-G
6345
6037
2785304
2818697
2791649
2824734
4482974
4312053
02 FT-GS
255
206
87837
73284
88092
73490
180253
147276
02 IT
510
1055
61042
229284
61552
230339
363908
753269
02 LMSMA
-457
-243
126251
99301
125794
99058
-326781
-173572
02 PAL-T
749800
523152
749800
523152
03 FT-A
11260
11814
45102007
17881761
45113267
17893575
7952236
8438733
03 IT
1333
869
120146
86977
121479
87846
944434
620674
03 LMSMA
-48
-46
60702
66248
60654
66202
-33922
-32839
04 FT-A
1264460
1204580
183030407
181818053
184294867
183022633
893108998
860413796
04 FT-G
1457
690
280893
265320
282350
266010
1028225
492898
04 FT-GS
54439
55386
54439
55386
04 IT
3626
2469
232576
220908
236202
223377
2556426
1763791
04 LMSMA
-1270
-99
290560
536681
289290
536582
-913726
-70425
04 PAL-T
21494838
23064688
21494838
23064688
05 FT-A
1072574
1040987
361486841
360478169
362559415
361519156
757470935
743561599
05 FT-G
509
621
592307
608155
592816
608776
359138
443297
05 IT
146
163
20248
23548
20394
23711
103319
116671
05 LMSMA
3893
2090
334821
285831
338714
287921
2732581
1492573
05 LMSPL
19
1
19
1
103
5
05 PAL-T
1377343
392663
1377343
392663
06 FT-A
531979
477115
306124248
299630298
306656227
300107413
375690527
340793045
06 FT-BH
1051
716
528237
525464
529288
526180
744427
510453
06 FT-GS
87
87
27650
28409
27737
28496
61608
62016
06 FT-IL
2027
2266
481169
475168
483196
477434
1437840
1618101
06 IT
1423
217
158169
26386
159592
26603
1014992
155122
06 LMSMA
-2618
-598
-288596
156569
-291214
155971
-1906822
-427451
06 PAL-T
36637427
8219357
36637427
8219357
0L FT-A
1674174
963438
458084112
365145245
459758286
366108683
1177642881
688169446
0L FT-G
6902
2079
278985
72676
285887
74755
4899127
1485025
0L FT-GS
251
234
40038
38717
40289
38951
177114
167304
0L IT
10784
819
899635
82611
910419
83430
7613400
584832
0L LMSMA
-55
-64
46174
42815
46119
42751
-38530
-45855
0L PAL-D
28772
28772
0L PAL-T
31880431
26969032
31880431
26969032
Estimates
177374
13744
12192161
18529800
12369535
18543544
91357620
9819188
Bus Interrupt Ins
5401207
6098793
5401207
6098793
00
760095
687032
175819368
152203157
176579463
152890189
536094848
490736604
01
1544788
1535967
332405703
316291217
333950491
317827184
1091228885
1097119415
02
94243
99975
38690229
30932139
38784472
31032114
66636237
71410236
03
12545
12637
45282855
18034986
45295400
18047623
8862748
9026568
04
1268273
1207640
205383713
205961036
206651986
207168676
895779923
862600060
05
1077122
1043861
363811579
361788367
364888701
362832228
760666076
745614145
06
533949
479803
343668304
309061651
344202253
309541454
377042572
342711286
0L
1692056
966506
491229375
392379868
492921431
393346374
1190293992
690360752
Estimates
177374
13744
12192161
18529800
12369535
18543544
91357620
9819188
Bus Inter Ins
5401207
6098793
5401207
6098793
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
6383322
14726435
21109757
14526201
23308675
37834876
15694492
15709985
31404477
18667304
7465606
26132910
17405615
2368515
19774130
22052013
1556265
23608278
16748082
1316462
18064544
26880054
3020773
29900827
19132308
2142214
21274522
14489673
1078217
15567890
20353837
2040401
22394238
20359985
4356045
24716030
212692886
79089593
291782479
7380971
4615782
11996753
21319711
1785760
23105471
25136873
3083932
28220805
18476136
8213872
26690008
13874446
12326053
26200499
20820612
11180186
32000798
16249483
8926166
25175649
27165914
5213206
32379120
18320288
6239154
24559442
16612364
8147905
24760269
17047822
8409181
25457003
18894629
5267508
24162137
221299249
83408705
304707954
00 FT-A
280546
53202
01 FT-A
156678
29712
00 FT-G
8506
1614
538
102
01 FT-G
26492
5027
7262
1378
00 FT-PS
1002
190
00 IT
32668
6195
01 IT
1552816
294652
43767
8305
00 LMMA
933328
177102
01 LMMA
8258238
1567028
4015229
761903
02 LMMA
1012609
192146
119481
22672
03 LMMA
132672
25175
128526
24578
04 LMMA
10368124
1967386
34865398
6615825
05 LMMA
23795046
4515189
9065870
1720279
06 LMMA
10659202
2022619
2011206
381633
0L LMMA
300864
57090
59862
11359
00 LMPA
11598501
2200854
4129256
783540
01 LMPA
240481
45632
101774
19312
02 LMPA
14089282
2673488
18519
3514
04 LMPA
7901264
1499291
33745006
6403227
06 LMPA
65691
12465
34935
6629
0L LMPA
82228
15603
49422
9378
00 LMPL
10724671
2035042
3137468
595345
01 LMPL
31696768
6014567
337283167
64000601
02 LMPL
2148869
407755
2386873
452917
03 LMPL
8901936
1689172
2842006
539280
04 LMPL
4620541
876763
3046692
578120
05 LMPL
1977209
375182
7737266
1468172
06 LMPL
2008381
381097
1357083
257511
0L LMPL
404115387
76682273
99273228
18838455
00 SA
881650
167296
01 SA
1172644
222513
System Inventory
376772
Transportation By Others
47
558149457
105839210
547431490
103878145
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Federal Income Tax
Federal Tax
Federal
174666
159904249
-143930700
16148215
150453121
9451128
Subtotal Federal Tax
174666
159904249
-143930700
16148215
150453121
9451128
State Income Tax - Alabama
State Tax
Alabama
13450
1640433
-1597544
56339
1567688
72745
0.0020
State Income Tax - Arizona
State Tax
Arizona
75
8018
-7818
275
7662
356
0.0000
State Income Tax - Arkansas
State Tax
Arkansas
1286
166769
-162328
5727
159374
7395
0.0002
State Income Tax - Connecticut
State Tax
Connecticut
1075
119465
-116437
4103
114167
5298
0.0001
State Income Tax - Kentucky
State Tax
Kentucky
47295
5570733
-5426712
191316
5323703
247030
0.0069
State Income Tax - Louisiana
State Tax
Louisiana
65962
5764762
-5632744
197980
5509128
255634
0.0072
State Income Tax - Massachusetts
State Tax
Massachusetts
20559
1587514
-1553553
54520
1517117
70397
0.0020
State Income Tax - Mississippi
State Tax
Mississippi
31600
3996848
-3891184
137264
3819611
177237
0.0050
State Income Tax - New Hampshire
State Tax
New Hampshire
857
96213
-93766
3304
91947
4266
0.0001
State Income Tax - New Jersey
State Tax
New Jersey
11878
1793571
-1743852
61597
1714036
79535
0.0022
State Income Tax - New Mexico
State Tax
New Mexico
170
4810
-4815
165
4597
213
0.0000
State Income Tax - New York
State Tax
New York
37349
4495553
-4378511
154391
4296201
199352
0.0056
State Income Tax - Pennsylvania
State Tax
Pennsylvania
86654
9474575
-9235844
325385
9054432
420143
0.0118
State Income Tax - Rhode Island
State Tax
Rhode Island
667
74566
-72672
2561
71259
3307
0.0001
State Income Tax - Tennessee
State Tax
Tennessee
23015
2780556
-2708078
95493
2657254
123302
0.0035
State Income Tax - West Virginia
State Tax
West Virginia
7504
902799
-879298
31005
862765
40034
0.0011
Texas Margin Tax
State Tax
Texas
2024
1898652
-158760
1739892
-158760
Texas Margin Tax
State Tax
Texas
2025
2080620
2080620
2080620
Subtotal State Tax
2248048
40399045
1739892
-37505156
3402045
38692801
1706244
Ad Valorem Tax - Alabama
Ad Valorem Tax
Alabama
2025
662490
662490
662490
Ad Valorem Tax - Arkansas
Ad Valorem Tax
Arkansas
2024
256000
-499
208501
47000
-499
Ad Valorem Tax - Arkansas
Ad Valorem Tax
Arkansas
2025
264000
264000
264000
Ad Valorem Tax - Colorado
Ad Valorem Tax
Colorado
2024
46
46
46
Ad Valorem Tax - Connecticut
Ad Valorem Tax
Connecticut
2024
1470255
1013332
456923
Ad Valorem Tax - Connecticut
Ad Valorem Tax
Connecticut
2025
1242000
1242000
1242000
Ad Valorem Tax - Kentucky
Ad Valorem Tax
Kentucky
2024
13915000
-1300000
11765000
850000
-1300000
Ad Valorem Tax - Kentucky
Ad Valorem Tax
Kentucky
2025
11717091
678
11716413
11717091
Ad Valorem Tax - Louisiana
Ad Valorem Tax
Louisiana
2024
Ad Valorem Tax - Louisiana
Ad Valorem Tax
Louisiana
2025
22307563
23741563
-1434000
22307563
Ad Valorem Tax - Massachusetts
Ad Valorem Tax
Massachusetts
2024
3302923
-427458
2832465
43000
-427458
Ad Valorem Tax - Massachusetts
Ad Valorem Tax
Massachusetts
2025
6592000
3050455
3541545
6592000
Ad Valorem Tax - Mississippi
Ad Valorem Tax
Mississippi
2024
16937382
776615
17713997
776615
Ad Valorem Tax - Mississippi
Ad Valorem Tax
Mississippi
2025
21546000
21546000
21546000
Ad Valorem Tax - New Hampshire
Ad Valorem Tax
New Hampshire
2024
27526
27526
Ad Valorem Tax - New Hampshire
Ad Valorem Tax
New Hampshire
2025
1710076
1710076
1710076
Ad Valorem Tax - New Jersey
Ad Valorem Tax
New Jersey
2025
3919477
3919477
3919477
Ad Valorem Tax - New York
Ad Valorem Tax
New York
2024
6275000
-465478
5809522
-465478
Ad Valorem Tax - New York
Ad Valorem Tax
New York
2025
17749000
12269304
5479696
17749000
Ad Valorem Tax - Ohio
Ad Valorem Tax
Ohio
2024
9084000
107776
9191776
107776
Ad Valorem Tax - Ohio
Ad Valorem Tax
Ohio
2025
9231000
9231000
9231000
Ad Valorem Tax - Oklahoma
Ad Valorem Tax
Oklahoma
2024
Ad Valorem Tax - Pennsylvania
Ad Valorem Tax
Pennsylvania
2024
Ad Valorem Tax - Pennsylvania
Ad Valorem Tax
Pennsylvania
2025
587000
532569
54431
587000
Ad Valorem Tax - Rhode Island
Ad Valorem Tax
Rhode Island
2024
Ad Valorem Tax - Rhode Island
Ad Valorem Tax
Rhode Island
2025
364068
364068
364068
Ad Valorem Tax - Tennessee
Ad Valorem Tax
Tennessee
2024
5165000
-552425
4612575
-552425
Ad Valorem Tax - Tennessee
Ad Valorem Tax
Tennessee
2025
4715000
4715000
4715000
Ad Valorem Tax - Texas
Ad Valorem Tax
Texas
2024
6322812
-263283
6059529
-263283
Ad Valorem Tax - Texas
Ad Valorem Tax
Texas
2025
7359031
989354
6369677
7359031
Ad Valorem Tax - West Virginia
Ad Valorem Tax
West Virginia
2024
1662368
1662368
Ad Valorem Tax - West Virginia
Ad Valorem Tax
West Virginia
2025
3492439
1746220
1746219
3492439
Subtotal Ad Valorem Tax
64418266
111333529
109882891
65868904
111333529
Use Tax - Alabama
Sales And Use Tax
Alabama
2025
-293
56261
54212
1756
56261
Use Tax - Arkansas
Sales And Use Tax
Arkansas
2025
4377
4377
4377
Use Tax - Connecticut
Sales And Use Tax
Connecticut
2025
12210
20782
17148
15844
20782
Use Tax - Kentucky
Sales And Use Tax
Kentucky
2025
5451
153362
153362
5451
393
152969
Use Tax - Louisiana
Sales And Use Tax
Louisiana
2025
18524
669469
666787
21206
273796
395673
Use Tax - Massachusetts
Sales And Use Tax
Massachusetts
2025
36104
36104
128
35976
Use Tax - Mississippi
Sales And Use Tax
Mississippi
2025
261770
261770
108923
152847
Use Tax - New Jersey
Sales And Use Tax
New Jersey
2025
820
4742
4079
1483
4742
Use Tax - New York
Sales And Use Tax
New York
2025
311197
311197
72556
238641
Use Tax - Ohio
Sales And Use Tax
Ohio
2025
12828
19531
19301
13058
19531
Use Tax - Pennsylvania
Sales And Use Tax
Pennsylvania
2025
9247
9247
9247
Use Tax - Rhode Island
Sales And Use Tax
Rhode Island
2025
-26911
8583
-18328
8583
Use Tax - Tennessee
Sales And Use Tax
Tennessee
2025
511766
511766
3877
507889
Use Tax - Texas
Sales And Use Tax
Texas
2025
726425
726425
353462
372963
Use Tax - West Virginia
Sales And Use Tax
West Virginia
2025
10791
10791
10791
Subtotal Sales And Use Tax
22629
2804407
2768238
58798
813135
1991272
Payroll - FICA Tax
Payroll Tax
Federal
2025
8320943
8320943
8320943
Payroll - Unemployment Tax
Payroll Tax
Federal
2025
249299
249299
249299
Subtotal Payroll Tax
8570242
8570242
8570242
Franchise and Occupation Tax
Franchise Tax
Various
2025
899831
5731193
6216980
414044
5731193
Subtotal Franchise Tax
899831
5731193
6216980
414044
5731193
328742665
129178243
-181435856
315594021
11157372
1991272
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
<div><p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">1. Construction Overhead</font></p>
<p class="MsoNormal"><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">(a) Overhead charges are intended to cover those indirect costs pertaining to construction activities for departments such as engineering, operations and accounting for their labor and related employee </font><font style="font-size: 18.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-weight: bold;">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></div>
2234876475
Tennessee Gas Pipeline Company, L.L.C
0.3349
0.0549
4439283956
Tennessee Gas Pipeline Company, L.L.C
0.6651
0.1271
6674160431
234071713
0.0184
0.0845
0.0184
0.0845
12742830
Contributions in Aid of Construction
4879965
Capitalized Overhead - Tax
8663964
Capitalized Interest - Tax
34451135
Tax Gain on Disposition of Assets
60737894
159904249
Current Federal Income Tax
49153145
Deferred Federal Income Tax
2663450
Deferred State Income Tax
254807441
Book Depreciation and Amortization
806687
Meals and Entertainment
45436
Non-Deductible Contributions
196441
Revenue Reserve
30807502
Linepack and Storage Revaluation
1767332
Enviromental Regulatory Liability
10028768
Offshore Regulatory Asset
2569155
Park and Loan
1370000
Litigation Reserve
514119606
4382689
AFUDC - Book Capitalized Interest
20462304
AFUDC Equity - Book Capitalized Amount
33947999
Capitalized Overhead - Book
158332
Environmental Reserve
780788
Cashout Tracker
4490098
AFUDC Equity - Regulatory Asset
37165
Bad Debt
1116666
Reservation Charge Prepayment
1412987
ASC 715 Post Retirement Benefits
530226
Contributions in Aid of Construction - Expense
67319254
534845605
Tax Depreciation and Amortization
10207608
Cost of Removal
3261030
Partnership Income
548314243
762736868
160174742
21% of Taxable Income
-270493
Return to Provision
159904249
Federal Income Tax - Current
5
6
7
8
11
12
13
14
15
16
17
18
19
20
21
22
25
26
27
28
29
30
31
32
33
34
37
38
39
43
44
45
46
47
48
170547
0.0200
11098828
0.0000
143362
0.0000
Intangible Plant (footnote details)
72984
0.0000
Other Gas Storage (footnote details)
9
10
Tennessee Gas Pipeline Company, L.L.C.
39368549
7496769
5017962901
1355833536
78153659
7336974
105839210
17853829
257796993
115513928
212692886
55203495
39463850
10394783
6762214
2275674
Reconciling Financial and Physical Balancing
124616
13435
System Supply - Net Park & Loan
3884259
-8661924
Receipts of Contract Storage
83408705
21824594
5845457842
1585085093
3000250
310000
5017962901
1355833536
83408705
21824594
103878145
18721511
257796974
115513928
221299249
52554815
44875409
12970505
Gas Used in Utility Operations
1505352
242197
Adjustments for Storage Fuel - Not a pipeline use of gas
-1938285
-289270
Operational TBO Fuel
2443127
771964
Gas of Others Delivered for Contract Storage
78153659
7336974
Operational Cashout Tracker Sales
12510155
2692195
Cashout Sales
15401953
3859730
Change in Line Inventory
-386238
101616
Net Park and Loan
3884259
-8661924
5843795615
1583782371
1662227
1302722
5845457842
1585085093
16
17
18
33
34
35
36
37
38
39
40
<div><!--?xml version="1.0" encoding="utf-8" standalone="no"?-->
<div>
<div class="Section_1">
<h3 style="margin-top: 0pt; margin-bottom: 0pt; page-break-inside: avoid; page-break-after: avoid; font-size: 16pt;"><font style="font-family: Arial; color: #1f3763;">1. General</font></h3>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are a Delaware limited liability company, originally formed in 1947 as a corporation. When we refer to "us," "we," "our," "the Company," or "TGP," we are describing Tennessee Gas Pipeline Company, L.L.C. We are an indirect wholly owned subsidiary of Kinder Morgan, Inc. (KMI). 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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our primary business consists of the interstate transportation and storage of natural gas. Our natural gas pipeline system consists of approximately 11,780 miles of pipeline with a design capacity of approximately 14.6 billion cubic feet (Bcf) per day. This multiple-line system begins in the natural gas producing regions of Louisiana and South Texas and extends to the northeast region of the United States (U.S.), including the metropolitan areas of New York City and Boston. Our system connects with multiple pipelines (including interconnects at the U.S. and Mexico border and the U.S. and Canada border) and connects to four major shale formations, providing customers with access to diverse resources of supply and various natural gas markets. Along our pipeline system, we have approximately 76 Bcf of underground working natural gas storage capacity through partially owned facilities or long-term contracts. Of this total storage capacity, approximately 29.6 Bcf is contracted from Bear Creek Storage Company, L.L.C. (Bear Creek), located in Bienville Parish, Louisiana. Bear Creek is a joint venture equally owned by us and Southern Natural Gas Company, L.L.C. (SNG), an affiliate. The Bear Creek facility has approximately 59.2 Bcf of working natural gas storage capacity that is committed equally between SNG and us.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-left: 18.35pt; margin-bottom: 0pt; text-indent: -18.35pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2.</font><font style="font-size: 7pt;">  </font>  <font style="font-family: Arial; font-weight: bold;">Summary of Significant Accounting Policies</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </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; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We have prepared our accompanying financial statements in accordance with the accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (GAAP).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The most significant differences between GAAP and the financial statements presented herein are: (i) the deferral of certain costs and revenues, (ii) the classification of certain accounts on the balance sheet and statement of income, (iii) subsidiaries are reflected on the equity method whereas GAAP requires that all controlled subsidiaries be consolidated, and (iv) the inclusion and classification of income taxes in a limited liability company's financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Management has evaluated subsequent events through April 16, 2026, the date the financial statements were available to be issued.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Use of Estimates</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Certain amounts included in or affecting our financial statements and related disclosures must be estimated, requiring us to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time our financial statements are prepared. These estimates and assumptions affect the amounts we report for assets and liabilities, our revenues and expenses during the reporting period, and our disclosures, including those related to contingent assets and liabilities at the date of our financial statements. We evaluate these estimates on an ongoing basis, utilizing historical experience, consultation with experts, and other methods we consider reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from our estimates. Any effects on our business, financial position, or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Certain accounting policies are of more significance in our financial statement preparation process than others, and set out below are the principal accounting policies we apply in the preparation of our financial statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Cash Equivalents</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; 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; font-size: 16pt;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We evaluate our financial assets measured at amortized cost and off-balance sheet credit exposures for expected credit losses over the contractual term of the asset or exposure. We consider available information relevant to assessing the collectability of cash flows including the expected risk of credit loss even if that risk is remote. We measure expected credit losses on a collective (pool) basis when similar risk characteristics exist and we reflect the expected credit losses on the amortized cost basis of the financial asset as of the reporting date.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our financial instruments primarily consist of our accounts receivable from customers. We utilized historical analysis of credit losses experienced over the previous five years along with current conditions and reasonable and supportable forecasts of future conditions in our evaluation of collectability of our financial assets.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Inventories</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Natural Gas Imbalances</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Natural gas imbalances occur when the amount of natural gas delivered from or received by a pipeline system or storage facility differs from the scheduled amount of gas to be delivered or received. We value these imbalances due to or from our shippers and operators at current index prices. Imbalances are settled in cash or made up in-kind, subject to the terms of our FERC tariff. Imbalances due from others are reported on our balance sheets as part of Account 174 "Miscellaneous Current and Accrued Assets." Imbalances owed to others are reported on our balance sheets as part of Account 242 "Miscellaneous Current and Accrued Liabilities." We classify all imbalances due from or owed to others as current as we expect to settle them within a year.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Property, Plant, and Equipment</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our property, plant, and equipment is recorded at its original cost of construction or, upon acquisition, at either the fair value of the assets acquired or the cost to the entity that first placed the asset in utility service. For constructed assets, we capitalize all construction-related direct labor and material costs, as well as indirect construction costs. Our indirect construction costs primarily include an interest and equity return component (as more fully described below) and labor and related costs associated with supporting construction activities. The indirect capitalized labor and related costs are based upon estimates of time spent supporting construction projects. We expense costs for routine maintenance and repairs in the period incurred.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We use the composite method to depreciate property, plant, and equipment. Under this method, assets with similar economic characteristics are grouped and depreciated as one asset. The FERC-accepted depreciation rate is applied to the total cost of the group until the net book value equals the salvage value. For certain general plant, the asset is depreciated to zero. As part of periodic filings with the FERC, we also re-evaluate and receive approval for our depreciation rates. When property, plant, and equipment is retired, accumulated depreciation and amortization is charged for the original cost of the assets in addition to the cost to remove, sell, or dispose of the assets, less salvage value. We do not recognize gains or losses unless we sell land or an entire operating unit (as approved by the FERC). In those instances where we receive recovery in rates related to losses on dispositions of operating units, we record a regulatory asset for the estimated recoverable amount. Refer to Note 8 for additional information on our regulatory asset associated with the sale of certain of our assets.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Included in our property balances are base gas and working gas at our storage facilities. We periodically evaluate natural gas volumes at our storage facilities for gas losses. When events or circumstances indicate a loss has occurred, we recognize a loss on our income statements or defer the loss as a regulatory asset on our balance sheets if deemed probable of recovery through future rates charged to our customers.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize a carrying cost (an allowance for funds used during construction or AFUDC) on debt and equity funds related to the construction of long-lived assets. This carrying cost consists of a return on the investment financed by debt and a return on the investment financed by equity. The debt portion is calculated based on our average cost of debt. Interest costs capitalized are included as a reduction to interest charges in Account 432 "Allowance for Borrowed Funds Used During Construction - Credit" on our income statements. The equity portion is calculated based on our most recent FERC-approved rate of return. Equity amounts capitalized are included in Account 419.1 "Allowance for Other Funds Used During Construction" on our income statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Asset Retirement Obligations (ARO)</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record liabilities for obligations related to the retirement and removal of long-lived assets used in our business. We record, as liabilities, the fair value of ARO on a discounted basis when they are incurred and can be reasonably estimated, which is typically at the time the assets are installed or acquired. Amounts recorded for the related assets are increased by the amount of these obligations. Over time, the liabilities increase due to the change in their present value, and the initial capitalized costs are depreciated over the useful lives of the related assets. The liabilities are eventually extinguished when the asset is taken out of service.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are required to operate and maintain our natural gas pipelines and storage systems, and intend to do so as long as demand for our services exists, which we expect for the foreseeable future. Therefore, we believe that we cannot reasonably estimate the ARO for our assets because these assets have indeterminate lives. We continue to evaluate our ARO and future developments could impact the amounts we record. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Long-lived Asset and Investment Impairments</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the carrying values may not be recoverable through the regulatory process, and evaluate our investments for other-than-temporary impairment. These events include changes in the manner in which we intend to use a long-lived asset, decisions to sell an asset or investment, and adverse changes in market conditions or in the legal or business environment such as adverse actions by regulators. If an event occurs and if an impairment is indicated, or if we decide to sell a long-lived asset or group of assets, we adjust the carrying value of the asset downward, if necessary and upon regulatory approval, to its estimated fair value.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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="font-family: Arial; font-style: italic;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Equity Method of Accounting</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We use the equity method of accounting for investments in subsidiaries. Under this method, our equity investments are carried originally at our acquisition cost, increased by our proportionate share of the investee's net income and by contributions made, and decreased by our proportionate share of the investee's net losses and by distributions received.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Revenue Recognition</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We segregate each class of revenue by account pursuant to the FERC's guidance under Code of Federal Regulations Title 18, Part 201.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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 goods or services is transferred to customers and in an amount that reflects the consideration we expect to receive for those goods or 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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our revenues are primarily generated from the transportation and storage of natural gas under firm and/or fee-based service contracts and natural gas sales contracts. The natural gas we receive under our transportation and storage 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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Service Contracts. </font><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;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Natural Gas Sales Contracts.</font><font style="font-family: Arial;"> Our natural gas sales contracts typically include a specified quantity of natural gas to be delivered and sold to the customer at a specified delivery point. Generally, under these contracts, each unit of natural gas sold is a separate performance obligation, and the transaction price is variable, typically based on a market-indexed per unit rate, for the value of the natural gas sold. The transaction price is allocated to each performance obligation based on the standalone price of natural gas sold. Revenue is recognized upon delivery of the natural gas and generally accounted for on a gross basis with the related cost reported in Operation Expense on our income statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Contract Balances.</font><font style="font-family: Arial;"> Contract assets and contract liabilities are the result of timing differences between revenue recognition, billings, and cash collections. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental Matters</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We capitalize certain environmental expenditures required to obtain rights-of-way, regulatory approvals, or permitting as part of the construction of facilities we use in our business operations. We accrue and expense environmental costs that relate to an existing condition caused by past operations, which do not contribute to current or future revenue generation. We generally do not discount environmental liabilities to a net present value, and we record environmental liabilities when environmental assessments and/or remedial efforts are probable and we can reasonably estimate the costs, such as after the completion of a feasibility study or commitment to a formal plan of action. We recognize receivables for anticipated associated insurance recoveries when such recoveries are deemed to be probable.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We routinely conduct reviews of potential environmental issues and claims that assist us in identifying environmental issues and estimating the costs and timing of remediation efforts. We also routinely adjust our environmental liabilities to reflect changes in previous estimates. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us, and potential third-party liability claims we may have against others. Often, as the remediation evaluation and effort progresses, additional information is obtained, requiring revisions to estimated costs. Refer to Note 9 “Litigation, Environmental and Commitments - </font><font style="font-family: Arial; font-style: italic;">Environmental Matters</font><font style="font-family: Arial;">” for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement Benefits</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We participate in KMI's postretirement benefit plan covering certain of our former employees that we have made contributions to in the past. These contributions are invested until the benefits are paid to plan participants. The net benefit cost (credit) of this plan is recorded on our income statements and is a function of many factors including expected returns on plan assets and amortization of certain deferred gains and losses. Refer to Note 6 for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">In accounting for our postretirement benefit plan, we record an asset or liability based on the difference between the fair value of the plan's assets and the plan's benefit obligation. Any deferred amounts related to unrecognized gains and losses or changes in actuarial assumptions are recorded on our balance sheets in Account 219 "Accumulated Other Comprehensive Income" (AOCI) until those gains or losses are recognized on our income statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Regulatory Assets and Liabilities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that are expected to be recovered from or returned to customers through the ratemaking process. Refer to Note 8 for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </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;"> </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;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We record current income taxes based on our taxable income and we provide for deferred income taxes to reflect estimated future tax payments and receipts. Deferred taxes represent the tax impacts of differences between the financial statement and tax bases of assets and liabilities and carryovers at each year end. We account for tax credits under the flow-through method, which reduces the provision for income taxes in the year the tax credits first become available. We reduce deferred tax assets by a valuation allowance when, based on our estimates, it is more likely than not that a portion of those assets will not be realized in a future period. The estimates utilized in the recognition of deferred tax assets are subject to revision, either up or down, in future periods based on new facts or circumstances. Income taxes charged to us are reflected in the accompanying comparative balance sheet in Account 236 "Taxes Accrued" and Accounts 190, 282, and 283 "Accumulated Deferred Income Taxes." A portion of the activity in Account 211 "Miscellaneous Paid-In Capital" reflects the income taxes assigned or advanced to our Member. Current income taxes assigned to our Member are transferred into Account 211 from Account 236. Deferred income taxes advanced to our Member are transferred into Account 211 with an offsetting adjustment to Account 186 "Miscellaneous Deferred Debits." For more information, see Note 7. 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;">“Income Taxes (Topic 740): Improvements to Income Tax Disclosures,”</font><font style="font-family: Arial;"> and the effects of our early adoption are reflected for all periods below.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects the components of income tax expense included in net income (in millions):</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Current:</font></p>
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<p style="margin-top: 0pt; margin-left: 21.6pt; 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-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">160</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-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">118</font></p>
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<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">40</font></p>
</td>
<td style="width: 136.3pt; 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: 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;">32</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;"> </p>
</td>
<td style="width: 131.8pt; border-top: 3pt solid #000000; 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: 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;">200</font></p>
</td>
<td style="width: 136.3pt; border-top: 3pt solid #000000; 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: 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;">150</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 496.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 2.9pt; vertical-align: bottom; -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;"> </p>
</td>
<td style="width: 130.9pt; border-top: 3pt 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; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 136.3pt; border-top: 3pt 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="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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:</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 136.3pt; 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: 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;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Federal</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">49</font></p>
</td>
<td style="width: 136.3pt; 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: 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;">61</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">State</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 3pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p>
</td>
<td style="width: 136.3pt; 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: 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;">14</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;"> </p>
</td>
<td style="width: 131.8pt; border-top: 3pt solid #000000; 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: 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;">52</font></p>
</td>
<td style="width: 136.3pt; border-top: 3pt solid #000000; 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: 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;">75</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;">Total income tax expense</font></p>
</td>
<td style="width: 22.9pt; 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: 3.92pt; 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: 107.12pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">252</font></p>
</td>
<td style="width: 18.4pt; 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: 3.92pt; 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: 116.12pt; border-top: 3pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">225</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The differences between our actual income tax expense and the amount computed by applying the statutory federal income tax rate of 21% are summarized as follows (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="width: 864.38pt; -aw-border-insideh: 0.5pt single #000000; -aw-border-insidev: 0.5pt single #000000; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border-right: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.9pt; vertical-align: top; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"> </p>
</td>
<td style="width: 443.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;" colspan="6">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.9pt; vertical-align: top; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 16pt;"> </p>
</td>
<td style="width: 218.7pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">2025</font></p>
</td>
<td style="width: 214.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">Income tax expense at the statutory federal rate</font></p>
</td>
<td style="width: 16.2pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 70.2pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">222</font></p>
</td>
<td style="width: 110.7pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">21.0%</font></p>
</td>
<td style="width: 11.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 79.2pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">190</font></p>
</td>
<td style="width: 101.7pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">21.0%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">State income tax, net of federal income tax benefit </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"> </p>
</td>
<td style="width: 70.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">34</font></p>
</td>
<td style="width: 110.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">3.3%</font></p>
</td>
<td style="width: 11.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"> </p>
</td>
<td style="width: 79.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">39</font></p>
</td>
<td style="width: 101.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">4.3%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">Regulatory liability amortization</font></p>
</td>
<td style="width: 16.2pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"> </p>
</td>
<td style="width: 70.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">(4)</font></p>
</td>
<td style="width: 110.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">-0.4%</font></p>
</td>
<td style="width: 11.7pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"> </p>
</td>
<td style="width: 79.2pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">(4)</font></p>
</td>
<td style="width: 101.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">-0.4%</font></p>
</td>
</tr>
<tr style="height: 21.6pt;">
<td style="width: 398.7pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">  </font><font style="font-family: Arial; font-size: 16pt;">Total</font></p>
</td>
<td style="width: 16.2pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 70.2pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">252</font></p>
</td>
<td style="width: 110.7pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">23.9%</font></p>
</td>
<td style="width: 11.7pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.4pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">$</font></p>
</td>
<td style="width: 79.2pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.4pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">225</font></p>
</td>
<td style="width: 101.7pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; line-height: 16pt;"><font style="font-family: Arial; font-size: 16pt;">24.9%</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1)</font> <font style="font-family: Arial;">The state taxes in Pennsylvania, Kentucky, and New York made up the majority (greater than 50%) of the tax effect in this category for 2025. The state taxes in Louisiana, Pennsylvania, and Kentucky made up the majority of state tax effect in this category for 2024.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 496.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.75pt dash-large-gap; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 275.8pt; 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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 496.15pt; 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: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 131.8pt; 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: 136.3pt; 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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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; font-size: 16pt;"> </p>
</td>
<td style="width: 136.3pt; 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: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Property, plant, and equipment</font></p>
</td>
<td style="width: 13.9pt; border-top: 1pt 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; -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: 116.12pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">743</font></p>
</td>
<td style="width: 9.4pt; border-top: 1pt 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; -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: 125.12pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">678</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">35</font></p>
</td>
<td style="width: 136.3pt; 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: 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;">37</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p>
</td>
<td style="width: 131.8pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">36</font></p>
</td>
<td style="width: 136.3pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">35</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;">Total deferred tax liabilities</font></p>
</td>
<td style="width: 131.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; 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;">814</font></p>
</td>
<td style="width: 136.3pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; 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;">750</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 496.15pt; border-top: 1pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 2.9pt; vertical-align: bottom; -aw-border-right: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 130.9pt; 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; -aw-border-left: 0.75pt dash-large-gap; -aw-border-right: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 136.3pt; border-top: 4.5pt 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="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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 assets:</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"> </p>
</td>
<td style="width: 136.3pt; 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: 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;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p>
</td>
<td style="width: 136.3pt; 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: 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;">41</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p>
</td>
<td style="width: 131.8pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">39</font></p>
</td>
<td style="width: 136.3pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">31</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;">Total deferred tax assets</font></p>
</td>
<td style="width: 131.8pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; 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;">78</font></p>
</td>
<td style="width: 136.3pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; 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;">72</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 497.05pt; 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;">Net deferred tax liability</font></p>
</td>
<td style="width: 13.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 116.12pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">736</font></p>
</td>
<td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 125.12pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">678</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; 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; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Our net utility plant consisted of the following (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 394.5pt; border-right: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 160pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Annual Depreciation</font></p>
</td>
<td style="width: 200.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 394.5pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Rates (%)</font></p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 96pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Transmission and storage facilities</font></p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">2.0 - 10.0</font></p>
</td>
<td style="width: 33.05pt; border-bottom: 1pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; 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: 48.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11,303</font></p>
</td>
<td style="width: 4.75pt; border-bottom: 1pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; 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: 79.25pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">10,651</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">General plant</font></p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.1 - 24.0</font></p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">143</font></p>
</td>
<td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">147</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Intangible plant</font></p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">3.1 - 14.0</font></p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">80</font></p>
</td>
<td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">74</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<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: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"> </p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(4,969)</font></p>
</td>
<td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(4,771)</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 33.05pt; border-bottom: 4.5pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 48.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6,557</font></p>
</td>
<td style="width: 4.75pt; border-bottom: 4.5pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6,101</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Land</font></p>
</td>
<td style="width: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">25</font></p>
</td>
<td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<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: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 94pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">345</font></p>
</td>
<td style="width: 96pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">440</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 395.75pt; 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;">
<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: 160pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 33.05pt; border-bottom: 4.5pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; 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: 48.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6,927</font></p>
</td>
<td style="width: 4.75pt; border-bottom: 4.5pt solid #000000; padding-right: 6.75pt; padding-left: 6.75pt; 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: 79.25pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.25pt; padding-left: 6.75pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">6,563</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Arial;">(1) The composite weighted average depreciation rates for the years ended December 31, 2025 and 2024 were approximately 2.29% and 2.37%, respectively.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">5. Debt</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table provides detail on the principal amount of our outstanding debt balances (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="margin-left: 4.1pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 491.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-bottom: 0.75pt dash-large-gap; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 280.15pt; 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: 31.15pt; -aw-height-rule: exactly;">
<td style="width: 491.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 131.8pt; border-top: 1pt solid #000000; 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;" 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: 140.65pt; border-top: 1pt solid #000000; 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;" 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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">7.0% Debentures due March 2027</font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 13.9pt; 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; -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: 116.12pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p>
</td>
<td style="width: 9.4pt; 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; -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: 129.52pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">7.0% Debentures due October 2028</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">400</font></p>
</td>
<td style="width: 140.65pt; 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: 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;">400</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">2.9% Senior Notes due March 2030</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">1,000</font></p>
</td>
<td style="width: 140.65pt; 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: bottom; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,000</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">8.375% Notes due June 2032</font></p>
</td>
<td style="width: 131.8pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 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: right; font-size: 16pt;"><font style="font-family: Arial;">240</font></p>
</td>
<td style="width: 140.65pt; 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: 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;">240</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">7.625% Debentures due April 2037</font></p>
</td>
<td style="width: 131.8pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p>
</td>
<td style="width: 140.65pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">300</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;"> </p>
</td>
<td style="width: 131.8pt; border-top: 4.5pt 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="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,240</font></p>
</td>
<td style="width: 140.65pt; border-top: 4.5pt 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="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,240</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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;">Less: Unamortized discount</font></p>
</td>
<td style="width: 131.8pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p>
</td>
<td style="width: 140.65pt; border-top: 1pt solid #000000; 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;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 492.7pt; 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: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total debt</font></p>
</td>
<td style="width: 13.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 116.12pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,236</font></p>
</td>
<td style="width: 9.4pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; 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;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 129.52pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; -aw-border-left: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2,235</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1) We intend to satisfy this debt obligation through issuance of bank or bond debt, issuance of notes to our Member, contributions from our Member, or a combination of these options.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">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; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Debt Covenants</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Under our various financing documents, we are subject to certain restrictions and covenants. The most restrictive of these include limitations on the incurrence of liens and limitations on sale-leaseback transactions. For the years ended December 31, 2025 and 2024, we were in compliance with our debt-related covenants.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">6. Retirement Benefits</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">KMI maintains a pension plan and a retirement savings plan covering substantially all of its U.S. employees, including certain of our former employees. KMI is responsible for benefits accrued under its plans and allocates certain costs based on a benefit allocation rate applied on payroll charged to its affiliates.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We also provide postretirement benefits, including medical benefits for a closed group of retirees. Our postretirement benefit plan costs were prefunded and were recoverable under prior rate case settlements. There is no cost recovery or related funding that is required as part of our current FERC approved rates; however, we can seek to recover any funding shortfall that may be required in the future. There were no contributions made in 2025 and 2024, and we do not expect to make any contributions to our postretirement benefit plan in 2026.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2025 and 2024, our postretirement benefit plan net assets were $32 million and $31 million, respectively, included in Account 128 "Other Special Funds" on our balance sheets, which is net of our postretirement benefit obligation of $6 million as of each balance sheet date. Our postretirement benefit plan net benefit credit for each of the years ended December 31, 2025 and 2024 was approximately $1 million.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The amounts included in AOCI as of December 31, 2025 and 2024 of $7 million and $6 million, respectively, net of income taxes of $2 million as of each balance sheet date, are related to unrecognized gains.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Our plan assets' fair values are based on the net asset value per share, or its equivalent (NAV), as a practical expedient to measure fair value, as reported by the issuers. The fair values are determined based on the fair value of the underlying securities as of the valuation date and include common/collective trust funds. Plan assets measured at NAV are not categorized within the fair value hierarchy.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">7. Related Party Transactions</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Proprietary Capital</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table reflects changes to our proprietary capital accounts resulting from distributions paid to our Member, as well as other changes in certain proprietary capital accounts (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.7pt; border-top: 1pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt dashed #bbbbbb; padding-right: 3.4pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-bottom: 1pt dash-large-gap; -aw-border-left: 1pt dash-large-gap; -aw-border-top: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 434.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="8">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.7pt; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt dashed #bbbbbb; padding-right: 3.4pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-bottom: 1pt dash-large-gap; -aw-border-left: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 206.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 218.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.7pt; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt dashed #bbbbbb; padding-right: 3.4pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-bottom: 1pt dash-large-gap; -aw-border-left: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 98.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p>
</td>
<td style="width: 98.45pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p>
</td>
<td style="width: 107.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p>
</td>
<td style="width: 102.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Account</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.7pt; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 98.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p>
</td>
<td style="width: 98.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p>
</td>
<td style="width: 107.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">211</font></p>
</td>
<td style="width: 102.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">216</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - Beginning of Year</font></p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt 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: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,283</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">126</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3,888</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt 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: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Net Income, less equity in earnings of Bear Creek</font></p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">797</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">673</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<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: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">754</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(754)</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">609</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(609)</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<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: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">181</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">162</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<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: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">83</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<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: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,018</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(754)</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">830</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(609)</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Distributions to Member</font></p>
</td>
<td style="width: 17.2pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(1,018)</font></p>
</td>
<td style="width: 12.45pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 16.95pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">(830)</font></p>
</td>
<td style="width: 17.3pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-top: 1pt solid #000000; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Cash distributions of earnings from Bear Creek</font></p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">3</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Capital contributions from Member</font></p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 71.2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">409</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">395</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.75pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 499.2pt; border-right: 1pt dashed #bbbbbb; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom; -aw-border-left: 1pt dash-large-gap; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 70.7pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 75.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 79.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 74.25pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 500.2pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Balance - End of Year</font></p>
</td>
<td style="width: 17.2pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt 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: 71.2pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,692</font></p>
</td>
<td style="width: 12.45pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 75.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">174</font></p>
</td>
<td style="width: 16.95pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 80.1pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4,283</font></p>
</td>
<td style="width: 17.3pt; border-right: 1pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 6.4pt; vertical-align: bottom; -aw-border-right: 1pt 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: 74.75pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">126</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Arial;">(1) Settlements of these amounts are made within equity and are considered non-cash financing activities.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Affiliate Balances and Activities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We participate 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, we had no balance with KMI under the cash management program. The interest rate on this note is variable and was 3.9% and 4.7% as of December 31, 2025 and 2024, respectively. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The following table summarizes our other balance sheet affiliate balances (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.42pt; 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: 429.2pt; border-top: 0.75pt 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;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 275.4pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 3.42pt; padding-left: 3.8pt; vertical-align: bottom; -aw-border-bottom: 0.5pt single;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 140.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.02pt; padding-left: 3.8pt; vertical-align: bottom; -aw-border-right: 0.5pt single; -aw-border-top: 0.5pt single;" 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: 127.35pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.42pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-left: 0.5pt single; -aw-border-top: 0.5pt single;" 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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.42pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">146</font></p>
</td>
<td style="width: 429.2pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts receivable from associated companies</font></p>
</td>
<td style="width: 13.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; 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: 117.85pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p>
</td>
<td style="width: 9.85pt; 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 108.9pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.42pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.42pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">174</font></p>
</td>
<td style="width: 429.2pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalances receivable from associated companies</font></p>
</td>
<td style="width: 13.9pt; border-top: 1pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
<td style="width: 9.85pt; border-top: 1pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.42pt; padding-left: 3.92pt; 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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p>
</td>
<td style="width: 429.2pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Park and loan with associated companies</font></p>
</td>
<td style="width: 13.9pt; border-top: 1pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 9.85pt; border-top: 1pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.3pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">186</font></p>
</td>
<td style="width: 429.2pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Advance of deferred income taxes to Member</font></p>
</td>
<td style="width: 13.9pt; border-top: 1pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">736</font></p>
</td>
<td style="width: 9.85pt; border-top: 1pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.3pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">654</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 64pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">234</font></p>
</td>
<td style="width: 429.2pt; border: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.75pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Accounts payable to associated companies</font></p>
</td>
<td style="width: 13.9pt; border-top: 1pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7</font></p>
</td>
<td style="width: 9.85pt; border-top: 1pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.3pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p>
</td>
</tr>
<tr style="height: 20.25pt;">
<td style="width: 64pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">242</font></p>
</td>
<td style="width: 429.2pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalances payable to associated companies</font></p>
</td>
<td style="width: 13.9pt; border-top: 0.75pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
<td style="width: 9.85pt; border-top: 0.75pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.3pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="width: 64pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.3pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial;">252</font></p>
</td>
<td style="width: 429.2pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Customer advances for construction</font></p>
</td>
<td style="width: 13.9pt; border-top: 0.75pt solid #000000; border-right: 0.75pt dashed #bbbbbb; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.92pt; padding-left: 3.8pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"> </p>
</td>
<td style="width: 117.85pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.02pt; padding-left: 3.92pt; vertical-align: bottom; -aw-border-right: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p>
</td>
<td style="width: 9.85pt; border-top: 0.75pt 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: bottom; -aw-border-left: 0.5pt single;">
<p style="margin-top: 0pt; margin-bottom: 0pt;"> </p>
</td>
<td style="width: 108.9pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.3pt; padding-left: 3.92pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-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;"> </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;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 503.6pt; border-top: 1pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt dashed #bbbbbb; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 274.95pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 503.6pt; border-right: 1pt solid #000000; border-left: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 138.95pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2025</font></p>
</td>
<td style="width: 126.45pt; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.4pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 503.6pt; 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: 23.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 118.1pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">7</font></p>
</td>
<td style="width: 10.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 118.6pt; 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;">5</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 503.6pt; 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><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 23.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 118.1pt; 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;">233</font></p>
</td>
<td style="width: 10.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 118.6pt; 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;">197</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 503.6pt; 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: 23.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 118.1pt; 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;">44</font></p>
</td>
<td style="width: 10.6pt; border-right: 1pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 118.6pt; 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;">49</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1)</font> <font style="font-family: Arial;">Includes costs associated with transportation and storage agreements. Refer to Note 9 "Litigation, Environmental and Commitments - </font><font style="font-family: Arial; font-style: italic;">Commitments - Purchase Obligations</font><font style="font-family: Arial;">" for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Subsequent Events</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Subsequent to December 31, 2025 and through the issuance of this report, we made a distribution to our Member of $283 million, inclusive of amounts representing income taxes, and received a capital contribution from our Member of $141 million.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">8. Rate and Regulatory Matters</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Regulatory Assets and Liabilities</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">As of December 31, 2025, the regulatory assets are subject to recovery in our rates, over a period of approximately one year to 26 years. Below are the details of our regulatory assets and liabilities (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<table style="width: 787.88pt; margin-left: 4.5pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489pt; border-right: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 275.05pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="6">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489pt; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 130.95pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.9pt; padding-left: 5.03pt; 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: 132.5pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 4.9pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="3">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">2024</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory assets (Account 182.3)</font></p>
</td>
<td style="width: 9.35pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 17pt; border-top: 2.25pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 2.25pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Taxes on capitalized funds used during construction</font></p>
</td>
<td style="width: 8.9pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; 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: 109.15pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">64</font></p>
</td>
<td style="width: 15.75pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 104.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">59</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Unamortized loss on sale of assets</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">77</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">87</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Gas imbalance cash out</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">56</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">55</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Difference between fuel retained and fuel consumed in operations</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Pipeline safety and greenhouse gas costs</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">4</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">5</font></p>
</td>
</tr>
<tr style="height: 24pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total regulatory assets </font><font style="font-family: Arial; font-size: 10.67pt; vertical-align: super;">(1)</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 108.75pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">216</font></p>
</td>
<td style="width: 17pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 103.5pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">207</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 9.35pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 17pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Regulatory liabilities (Account 254)</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Income tax related</font></p>
</td>
<td style="width: 9.35pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">113</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">119</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Environmental</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">21</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">19</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Postretirement benefits</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">19</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">22</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Difference between fuel retained and fuel consumed in operations</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">11</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Other</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 108.75pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">2</font></p>
</td>
<td style="width: 17pt; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"> </p>
</td>
<td style="width: 103.5pt; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">-</font></p>
</td>
</tr>
<tr style="height: 24pt; -aw-height-rule: exactly;">
<td style="width: 489.85pt; border: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total regulatory liabilities</font></p>
</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 108.75pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">155</font></p>
</td>
<td style="width: 17pt; border-top: 4.5pt solid #000000; border-left: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 6.4pt; padding-left: 5.03pt; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 103.5pt; border-top: 4.5pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 5.03pt; padding-left: 6.4pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">171</font></p>
</td>
</tr>
<tr style="height: 0pt;">
<td style="width: 512.6pt;"> </td>
<td style="width: 32.5pt;"> </td>
<td style="width: 0.75pt;"> </td>
<td style="width: 132.35pt;"> </td>
<td style="width: 39.35pt;"> </td>
<td style="width: 0.75pt;"> </td>
<td style="width: 69.2pt;"> </td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-size: 12pt;">  </font><font style="font-family: Arial; font-size: 12pt;">(1) Includes approximately $135 million and $119 million as of December 31, 2025 and 2024, respectively, of regulatory assets</font> <font style="font-family: Arial; font-size: 12pt;">which are recoverable without earning a return.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Our significant regulatory assets and liabilities include:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Taxes on capitalized funds used during construction. </font><font style="font-family: Arial;">Amounts represent the deferred income taxes on AFUDC equity funds. These amounts are recoverable in our tariff rates over the depreciable lives of the assets to which they apply.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Unamortized loss on sale of assets. </font><font style="font-family: Arial;">Amounts represent deferred losses on the sale of certain assets and are allowed for recovery in our rates.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Gas imbalance cash out. </font><font style="font-family: Arial;">Amounts reflect the revenue or cost from cash out activity net of the revenue or cost from operational sales or purchases of gas to offset the net cash out activity.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Difference between fuel retained and fuel consumed in operations. </font><font style="font-family: Arial;">The cost of energy used in our operations is collected from our shippers in accordance with our tariff and applicable contract terms. Pursuant to our fuel adjustment mechanism, which is comprised of a fuel and loss cost recovery component and an electric power cost recovery component, we obtain natural gas quantities from our shippers as reimbursement for fuel consumed at compressor stations and other locations on our system as well as for natural gas quantities lost and otherwise unaccounted for. In addition, we collect from our shippers an electric power cost surcharge as reimbursement for the electric power costs we incur at compressor stations and other locations on our system as well as pursuant to transportation and/or storage agreements we enter into with third parties. On an annual basis, we file to update the prospective fuel and lost and unaccounted for retention rates and the electric power cost surcharges based on historical information. Over- or under-collections of fuel and lost and unaccounted for quantities from prior periods are trued-up through either an addition or reduction to the prospective fuel and lost and unaccounted for retention rates. Similarly, over- or under-collections of electric power costs from prior periods are trued-up through either an addition or reduction to the prospective electric power cost surcharges.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">For the years ended December 31, 2025 and 2024, we recorded a net regulatory benefit of approximately $22 million (a net regulatory benefit of $11 million for the fuel and loss cost recovery component, and a net regulatory benefit of $11 million for the electric power cost recovery component) and a net regulatory benefit of approximately $11 million (a net regulatory benefit of $8 million for the fuel and loss cost recovery component and a net regulatory benefit of $3 million for the electric power cost recovery component), respectively, related to the provisions of this tracker.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Pipeline safety and greenhouse gas costs. </font><font style="font-family: Arial;">Certain costs incurred by us to comply with new pipeline safety and/or greenhouse gas legislation or certain pre-defined pipeline safety initiatives implemented by us are collected from our shippers via a surcharge in accordance with our tariff and applicable contract terms. Under this cost recovery mechanism, we collect from our shippers a reservation and a commodity surcharge to compensate us for certain eligible costs incurred and/or expected to be incurred during the next annual period. On an annual basis, we file to update the prospective reservation and commodity cost surcharges based on historical information. Over- or under-collections of pipeline safety and greenhouse gas costs from prior periods are trued-up through either an addition or reduction to the prospective reservation and commodity surcharges. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">For the years ended December 31, 2025 and 2024, we recorded a net regulatory benefit of $3 million and a net regulatory expense of less than $1 million, respectively, related to the pipeline safety initiatives provisions of this tracker.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Income tax related. </font><font style="font-family: Arial;">Amounts represent the anticipated return to ratepayers of deferred income taxes as a result of the Tax Cuts and Jobs Act of 2017, which lowered the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018. These amounts are amortized to Account 411.1 “Provision for Deferred Income Taxes – Credit” over the remaining depreciable lives of the assets to which they apply. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental. </font><font style="font-family: Arial;">Includes amounts collected through a surcharge to our customers in excess of certain environmental remediation costs incurred to date under a settlement approved by the FERC in November of 1995.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Postretirement benefits. </font><font style="font-family: Arial;">Amounts represent the utilization of excess plan assets to fund KMI’s retiree medical costs as permitted by our rate settlement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">  </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Rate Proceedings</font></p>
<p style="margin-top: 12pt; margin-bottom: 12pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">Pursuant to our FERC approved settlement in Docket No. RP19-351 (2019 Settlement), we filed a cost and revenue study on November 1, 2023. On January 8, 2024, we reached a settlement in principle with our customers on rates and other matters related to our 2019 Settlement and the subsequent cost and revenue study. On March 20, 2024, we filed an uncontested settlement with the FERC in Docket No. RP24-333 (2024 Settlement), which was approved by the FERC on May 30, 2024 and went into effect on July 1, 2024.</font></p>
<p style="margin-top: 12pt; margin-bottom: 12pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">The 2024 Settlement provides for a phased 8% cumulative reduction from our then effective rates. Pursuant to the settlement in principle, the initially agreed upon 2% rate reduction was implemented on an interim basis effective January 1, 2024 and approved by the FERC on February 21, 2024. An additional 2% rate reduction was effective on January 1, 2025, and the final 4% rate reduction was effective on January 1, 2026. The 2024 Settlement also establishes a moratorium on Natural Gas Act (NGA) section 4 filings and NGA section 5 complaints seeking to change the settlement rates through December 31, 2026, and requires us to submit a cost and revenue study on or before November 2, 2026. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Certificate Proceedings</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </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;">Evangeline Pass Expansion Project (CP20-50-000). </font><font style="font-family: Arial;">On February 7, 2020, we filed an application with the FERC requesting authority to construct the Evangeline Pass Expansion Project. The application includes the replacement of certain facilities located in Plaquemines Parish, Louisiana and acquisition of leased capacity from SNG. Installation of these facilities and the acquisition of the leased capacity enable us to provide incremental firm transportation services to Venture Global Plaquemines LNG, LLC's facility. The FERC order approving the project was issued on March 25, 2022. In February 2025, we placed certain project facilities in-service to provide the project shipper with 400,000 dekatherms per day (Dth/d) of interim capacity. The remaining project facilities were placed into service on July 1, 2025. The total cost of the project was approximately $335 million.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Cumberland Project (CP22-493-000). </font><font style="font-family: Arial;">On January 18, 2024, the FERC approved our application requesting authority to construct the Cumberland Project, which is designed to create additional firm transportation capacity from our mainline to a new combined-cycle combustion turbine natural gas plant constructed and operated by Tennessee Valley Authority to replace an existing coal-fired power plant at the Cumberland Fossil Plant Reservation Site. The filed cost of the project is approximately $185 million with an original anticipated in-service date of September 2025. On October 11, 2024, in response to motions filed by Sierra Club and Appalachian Voices, the U.S. Court of Appeals for the 6th Circuit (6th Circuit Court of Appeals) issued a stay of the Tennessee Department of Environment & Conservation's Clean Water Act Section 401 Water Quality Certification (Section 401 Water Quality Certification) issued for the project and the U.S. Army Corps of Engineers' Clean Water Act Section 404 Individual Permit (Section 404 Individual Permit) issued for the project. Following the December 10, 2024 oral argument, the 6th Circuit Court of Appeals issued two decisions on April 4, 2025 that upheld the Section 401 Water Quality Certification and the Section 404 Individual Permit, respectively, and issued an order on April 15, 2025 lifting the stay. We commenced construction activities for the Cumberland Project in April 2025, and anticipate an in-service date of April 2026. Oral argument before the U.S. Court of Appeals for the DC Circuit (DC Circuit) regarding a FERC certificate order appeal filed by Sierra Club and Appalachian Voices was held on March 4, 2025. On September 30, 2025, the DC Circuit denied the appeal of the Cumberland Project FERC Certificate by Sierra Club and Appalachian Voices.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </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;">Mississippi Crossing (MSX) Project (CP25-514-000). </font><font style="font-family: Arial;">On November 8, 2024, we submitted a request to the FERC to use the pre-filing process for the MSX Project, which includes the construction and installation of approximately 206 miles of new pipeline and lateral facilities, new compressor stations, and new meter stations in Mississippi and Alabama. This proposed $1.7 billion project will provide up to 2.1 Bcf per day of additional natural gas transportation capacity to meet growing energy needs in the southeast U.S. The FERC approved the request on December 6, 2024. The certificate application was filed on June 30, 2025, and we requested issuance of a certificate order authorizing the project by July 1, 2026. The FERC issued a notice in December 2025, with an anticipated date for issuing the certificate order no later than July 31, 2026. With the timely receipt of all permits and approvals, the project is expected to be in service as early as the second quarter of 2028.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">On November 5, 2025, we were informed that the Federal Permitting Improvement Steering Committee, established by Title 41 of the Fixing America’s Surface Transportation Act (FAST-41), has added the MSX Project to the FAST-41 program, which aims to streamline federal reviews for large infrastructure projects. The FERC will lead the federal permitting for the MSX Project under FAST-41. A permitting timetable for the MSX Project was posted to the FAST-41 dashboard in January 2026 with the final Environmental Impact Statement scheduled to be issued June 26, 2026.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">9. Litigation, Environmental and Commitments</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Legal Proceedings</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We are party to various legal, regulatory, and other matters arising from the day-to-day operations of our business or certain predecessor operations that may result in claims against the Company. Although no assurance can be given, we believe, based on our experiences to date and taking into account accrued liabilities and insurance, that the ultimate resolution of such items will not have a material adverse impact to our financial position, cash flows, or operating results. We believe we have numerous and substantial defenses to the matters to which we are a party and intend to vigorously defend the Company. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material or, in the judgment of management, we conclude the matter should otherwise be disclosed.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Environmental Matters</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial;">We are subject to environmental cleanup and enforcement actions from time to time. In particular, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a "reasonable basis" for apportionment of costs. Our operations are also subject to federal, state, and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments could result in substantial costs and liabilities to us, such as increasingly stringent environmental laws, regulations, and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations. Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters set forth in this note, and other matters to which we are a party, will not have a material adverse effect on our financial position, cash flows, or operating results.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </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;">Louisiana Governmental Coastal Zone Erosion Litigation. </font><font style="font-family: Arial;">On November 8, 2013, the Parish of Plaquemines, Louisiana and others filed petitions in the state district court for Plaquemines Parish against us and 17 other energy companies, alleging that the defendants' operations in Plaquemines Parish violated the State and Local Coastal Resources Management Act of 1978, as amended and Louisiana law and caused substantial damage to the coastal waters and nearby lands. Plaintiffs seek, among other relief, unspecified money damages, attorney fees, interest and restoration costs. In May 2018, the case was removed to the U.S. District Court for the Eastern District of Louisiana and has been stayed pending the resolution of federal question jurisdictional issues in separate consolidated cases to which we are not a party. At this time, we are not able to reasonably estimate the extent of our potential liability, if any. We intend to vigorously defend this case.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </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;">Superfund Matters</font><font style="font-family: Arial;">. Included in our recorded environmental liabilities are projects where we have received notice that we have been designated or could be designated as a Potentially Responsible Party (PRP) under CERCLA, commonly known as Superfund, or state equivalents for three active sites. Liability under the federal CERCLA statute may be joint and several, meaning that we could be required to pay in excess of our pro rata share of remediation costs. We consider the financial strength of other PRPs in estimating our liabilities. </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Commitments</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Capital Commitments. </font><font style="font-family: Arial;">As of December 31, 2025, we had capital commitments of approximately $953 million. We have other planned capital projects that are discretionary in nature, with no substantial contractual capital commitments made in advance of the actual expenditures.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">Purchase Obligations</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">We have entered into unconditional purchase obligations for transportation, storage, capacity lease, and other services with third parties and our affiliates, including SNG, Kinder Morgan Texas Pipeline LLC, Bear Creek, and Arlington Storage Company, LLC. Future annual obligations as of December 31, 2025 are as follows:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<table style="border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year</font></p>
</td>
<td style="width: 322.8pt; border: 1pt solid #000000; vertical-align: bottom;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Commitments</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 165.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Affiliates </font><font style="font-family: Arial; font-size: 10.67pt; font-weight: bold; vertical-align: super;">(1)</font></p>
</td>
<td style="width: 156.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2026</font></p>
</td>
<td style="width: 22.25pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 143.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">66</font></p>
</td>
<td style="width: 23pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">145</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.25pt; border-top: 1pt solid #000000; border-right: 0.75pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-right: 4.22pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2027</font></p>
</td>
<td style="width: 165.85pt; border: 0.75pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">56</font></p>
</td>
<td style="width: 156.1pt; border: 0.75pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">143</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2028</font></p>
</td>
<td style="width: 165.85pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">54</font></p>
</td>
<td style="width: 156.1pt; border-top: 0.75pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">122</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2029</font></p>
</td>
<td style="width: 165.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">54</font></p>
</td>
<td style="width: 156.1pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">116</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">2030</font></p>
</td>
<td style="width: 165.85pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">53 </font></p>
</td>
<td style="width: 156.1pt; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">113</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Thereafter</font></p>
</td>
<td style="width: 165.85pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">514 </font></p>
</td>
<td style="width: 156.1pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;" colspan="2">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">617</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 164.55pt; border: 1pt solid #000000; padding-right: 3.9pt; padding-left: 3.9pt; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 21.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">Total</font></p>
</td>
<td style="width: 22.25pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 143.75pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">797</font></p>
</td>
<td style="width: 23pt; border-top: 4.5pt solid #000000; border-left: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-left: 3.6pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 133.25pt; border-top: 4.5pt solid #000000; border-right: 1pt solid #000000; border-bottom: 4.5pt solid #000000; vertical-align: bottom;">
<p style="margin-top: 0pt; margin-right: 3.6pt; margin-bottom: 0pt; text-align: right; font-size: 16pt;"><font style="font-family: Arial;">1,256</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify;"><font style="font-family: Arial;">(1) Includes a 20-year capacity lease agreement with SNG. Refer to Note 8 "Rate and Regulatory Matters—</font><font style="font-family: Arial; font-style: italic;">Certificate Proceedings—Evangeline Pass Expansion Project (CP20-50-000)</font><font style="font-family: Arial;"> for further information.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial;">For the years ended December 31, 2025 and 2024, total expenses related to these commitments were $135 million and $107 million, respectively, of which $63 million and $37 million, respectively, were with our affiliates. These expenses are reflected in Account 401 "Operation Expenses" on our income statements.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt; background-color: #ffffff;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt; background-color: #ffffff;"><font style="font-family: Arial; font-weight: bold;">10. Supplemental Cash Flow Information</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt; background-color: #ffffff;"> </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 contains supplemental cash flow information (in millions):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt; background-color: #ffffff;"> </p>
<table style="width: 796.98pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 460.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; background-color: #ffffff; -aw-border-bottom: 0.75pt dash-large-gap; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;" rowspan="2">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 320.65pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; background-color: #ffffff; -aw-border-left: 0.75pt dash-large-gap;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 320.65pt; 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; background-color: #ffffff; -aw-border-left: 0.75pt dash-large-gap;" colspan="4">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">December 31,</font></p>
</td>
</tr>
<tr style="height: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 460.05pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 1pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; background-color: #ffffff; -aw-border-left: 0.75pt dash-large-gap; -aw-border-top: 0.75pt dash-large-gap;">
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
</td>
<td style="width: 163.15pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; padding-right: 2.9pt; padding-left: 3.92pt; vertical-align: bottom; background-color: #ffffff; -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: 156.62pt; border-top: 1pt solid #000000; border-right: 1pt solid #000000; border-left: 0.75pt dashed #bbbbbb; border-bottom: 4.5pt solid #000000; vertical-align: bottom; background-color: #ffffff; -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: 23.75pt; -aw-height-rule: exactly;">
<td style="width: 460.95pt; border-top: 0.75pt dashed #bbbbbb; border-right: 1pt solid #000000; border-left: 1pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom; background-color: #ffffff; -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;">Interest paid, net of capitalized interest</font></p>
</td>
<td style="width: 22.75pt; 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; background-color: #ffffff; -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-left: 3pt; margin-bottom: 0pt; text-indent: -3pt; font-size: 16pt;"><font style="font-family: Arial;">$</font></p>
</td>
<td style="width: 131.8pt; 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; background-color: #ffffff; -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;">120</font></p>
</td>
<td style="width: 31.9pt; 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; background-color: #ffffff; -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: 109.3pt; 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; background-color: #ffffff; -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;">120</font></p>
</td>
</tr>
</table>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"><font style="font-family: Arial; font-weight: bold;">11.</font> <font style="font-family: Arial; font-weight: bold;">Recent Accounting Pronouncement</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 16pt;"> </p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 16pt;"><font style="font-family: Arial; font-style: italic;">ASU No. 2025-06</font></p>
<p style="margin-top: 12pt; margin-bottom: 12pt; text-align: justify; font-size: 16pt;"><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>
FTA
400450252
560631
150417671
150978302
418604149
627908
150941103
151569011
429039979
643562
156730189
157373751
FTBH
40340
40340
40339
40339
88414
133
45458
45591
FTG
1543388
2161
530703
532864
2077328
3116
802889
806005
2886166
4329
1368218
1372547
FTGS
383037
536
145014
145550
606301
910
231999
232909
811817
1218
361730
362948
FTIL
80400
113
39542
39655
60200
91
41856
41947
75200
113
42910
43023
FTPS
947808
1327
206654
207981
1166820
1751
209309
211060
418662
628
201967
202595
IT
842415
1179
134858
136037
2171260
3257
274644
277901
704338
1057
96666
97723
LMSMA
-405699
-568
91116
90548
-55188
-69
186715
186646
1336382
2004
333665
335669
LMSPL
-75199
-105
-609
-714
-24721
-35
-200
-235
102586
154
831
985
PAL-T
10869441
10869441
10313737
10313737
10874815
10874815
ESTIMATE
20856564
71556
513490
585046
11660436
17492
6869778
6887270
59480441
89220
4352498
4441718
424622966
636829
162988221
163625050
436266585
654419
169912171
170566590
494943985
742418
174408947
175151365
1
2
3
4
5
6
7
8
9
10
11
310000
1305977
1305977
5229
5229
2505
2505
59001
59001
59073
59073
58987
58987
1750956
5683364
5683364
941239
3309478
3309478
1750956
5742365
5742365
941239
3368551
3368551
58987
58987
427630268
636829
173539663
174176492
438703987
654419
176810076
177464495
499838450
742418
178104875
178847293
Concord Expansion
CP08-65
Incremental
22527739
18090948
7231
370663
123660
1125413
249475
4384851
Connexion NY/NJ
CP05-355
Incremental
35955657
29112659
-32329
763724
323867
1483640
405336
5277833
DOMAC
CP96-164
Incremental
34135748
34135748
-103941
56868
105777
355464
1874638
Stagecoach
CP00-65
At-Risk/Incremental
48699534
48691834
-1252320
899303
418232
7700
543157
3377100
Tewksbury Lateral
CP04-60
Incremental
12344535
12322486
-434714
40049
74493
617227
129237
483196
300 Line Expansion
CP09-444
Incremental
717741817
247470349
73633783
4310487
2918198
17943523
7612442
85588453
Northampton Expansion
CP11-36
Incremental
16096454
10483909
457816
120934
40346
804823
171958
3511393
Northeast Supply Diversification
CP11-30
Incremental
29807100
12942322
2408003
12384542
94975
992576
310442
43621111
Northeast Upgrade
CP11-161
Incremental
515809803
152855518
57257276
1652973
1015417
12895173
5410596
111044645
Niagara Spur Loop Line
CP11-133
At-Risk
6140657
1434077
790594
98561
32882
101321
67895
Niagara Expansion
CP14-88
Incremental
22274067
7461751
2847305
13309385
43489
741726
231458
26803111
Connecticut Expansion
CP14-529
Incremental
107128262
28171015
6890685
101066
187986
3566933
1112809
16775752
Susquehanna West Expansion
CP15-148
Incremental
114729048
31453210
8145038
1301422
528580
3820477
1244359
23011509
Invenergy/Triad
CP15-520
Incremental
51648819
13744179
3506354
52796
98201
1717048
536653
15411703
Orion
CP16-4
Incremental
96597379
25156150
6699063
97370
181112
3213634
1003641
19875776
Broad Run Expansion
CP15-77
Incremental
411810499
86661575
30900809
7861996
2622897
13684663
4607933
39445918
Line 261 Expansion
CP19-7
Incremental
36926329
5691321
2209134
282982
118584
1229323
394587
15497712
East 300 Expansion
CP20-493
Incremental
264179563
8970679
10291810
3060060
1020889
4218913
2869242
56004155
2544553010
774849730
204221597
46765181
9949585
68164113
27256684
471988856
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
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
$
692,252,484
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, 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
$
29,760,377
Our cost of debt is based on actual costs incurred.
Our cost rate percentage of common equity is based on our rate settlement in Docket No. RP95-112 and reaffirmed in our last rate settlement in Docket No. RP24-333. Both of these rate settlements were settled on a black box basis.
See Page 102, "Control over Respondent," for a description of our ownership structure.
All Accumulated Other Comprehensive Income is related to unrecognized gains on postretirement benefit plan assets.
Equity in earnings of subsidiary companies
$
6,919,059
Cash distributions of earnings from Bear Creek Storage Company, L.L.C. (Bear Creek)
(5,300,000)
Total
$
1,619,059
Equity in earnings of subsidiary companies
$
7,236,343
Cash distributions of earnings from Bear Creek
(3,450,000)
Total
$
3,786,343
Many of the natural gas volumes required to be reported on this page are tracked at the entity level rather than by discounted, negotiated or recourse rate contracts; therefore, the amounts reported have been allocated to discounted, negotiated or recourse rate contracts based on reasonable assumptions.
The value of this gas is based on the current month cash-out price 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 lines 4 and 6 for all periods within the quarter.
Accounts 819 and 854 are debited for gas used for compressor station fuel. This footnote applies to all periods within the quarter.
Line 14 Dekatherms do not include electric compressor stations. This footnote applies to all periods within the quarter.
Gas supplied as operational gas for "Transportation by Others." This footnote applies to all periods within the quarter.
Accounts 817, 823, and 825 are recorded for gas used for other operational purposes. 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.
Intangible Plant:
Rates:
Transportation Software
10.00%
Other Software
14.00%
All other intangible plant
3.10%
General Plant Onshore:
Rates:
Computer Equipment & Software
14.00%
Transportation Equip - Autos/Light Trucks
24.00%
Transportation Equipment - Heavy Trucks/Trailers
6.50%
Power Operated Equipment
5.00%
All other general plant
3.10%
Transmission Plant Onshore:
Rates:
Northeast Upgrade
2.50%
Line 261
3.33%
Tewksbury
5.00%
ConneX NY/NJ
5.00%
300 Line
2.50%
Stagecoach
5.00%
Concord Lateral
5.00%
Niagara Expansion
3.33%
Rights-of-Way - 10 Years
10.00%
Rights- of Way - 20 Years
5.00%
Broad Run Expansion
3.33%
Connecticut Expansion
3.33%
Invenergy/Triad
3.33%
Northhampton Expansion
5.00%
Orion
3.33%
Susquehanna West
3.33%
Northeast Supply Diversification
3.33%
All other onshore transmission
2.05%*
*
Includes 0.40% for negative salvage.
Page 204, Line 129, Column (d)
$
46,335,068
Less: Intangible Plant Retirements
6,144,445
Book Cost of Plant Retired
$
40,190,623
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.
In accordance with FERC Order No. 581, we use the fixed asset method.
We had no balance with Kinder Morgan, Inc. (KMI) under the cash management program as of December 31, 2025 and 2024. For further discussion of our participation in KMI's cash management program, see page 122.1 "Notes to Financial Statements," Note 7, "Related Party Transactions."
Account
Amount
407.3
$
114,522,325
407.4
6,911,378
Total
$
121,433,703
Account
Amount
407.3
$
15,396,737
407.4
141,417
431
6,348
Total
$
15,544,502
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
$
28,088,196
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
$
755,790,790
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.
Recorded pursuant to Docket No. AI93-5-000 issued on April 23, 1993 (Accounting for Income Taxes). We estimate approximately $21.5 million of the ending balance is associated with projects granted non-traditional rate treatment that are reported on page 217.
Recorded pursuant to Section 7 (a) (V) of Rate Schedule LMS-MA, Section 5 (e) of Rate Schedule LMS-PA, and Article XXXV of the General Terms and Conditions of our Tariff.
Recorded pursuant to Article XXXV of the General Terms and Conditions of our Tariff.
Recorded pursuant to Docket Nos. RP91-203, and RP92-132 (PCB Phase II Issues), filed on May 15, 1995, as amended on November 20, 2009.
Recorded pursuant to Article XIII, Section A of 2019 Settlement in Docket No. RP19-351-002.
Recorded pursuant to Article XXXVII of the General Terms and Conditions of our Tariff.
Recorded pursuant to Article XXXVII of the General Terms and Conditions of our Tariff.
Information for columns (f), (h) and (i) is included with #313 - Coudersport, PA transmission compressor station.
Ellisburg Compressor Station - 50% jointly owned with and operated by Eastern Gas Transmission and Storage Inc. Information not available for columns (f) - (m).
Harrison Compressor Station - 50% jointly owned with and operated by Eastern Gas Transmission and Storage Inc. Information not available for columns (f) - (m).
Account
Amount
107
$
4,529,045
108
794,832
232
575,701
Total
$
5,899,578
Account
Amount
489.2
$
14,356,010
824
262,282
Total
$
14,618,292
Account
Amount
253
$
231,616
805
25,834
Total
$
257,450
Account
Amount
107
$
6,577,752
108
1,452,797
186
389,891
408.1
7,188,762
817
4,445
818
40,556
820
13,062
821
133,979
833
175,125
834
34,672
835
2,613
836
22,017
850
14,505,053
852
5,112
853
25,461,622
856
14,073,450
857
4,441,995
861
1,723,355
862
204,280
863
13,400,277
864
15,036,060
865
1,830,777
866
173
867
16,622
920
11,765,302
Total
$
118,499,749
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
$
814,346
108
179,723
186
54,945
926
16,811,522
Total
$
17,860,536
Amounts charged by Kinder Morgan, Inc. through shared services are allocated using the modified Massachusetts Formula.
Account
Amount
408.1
$
1,381,480
920
17,919,689
923
3,504,467
925
3,921,182
926
3,483,949
930.2
4,808,123
931
3,381,834
Total
$
38,400,724
Account
Amount
107
$
33,947,999
186
382,837
Total
$
34,330,836
Account
Amount
803
$
(4,797)
853
40,842
Total
$
36,045
Account
Amount
407.4
$
208,042
489.2
2,828,546
Total
$
3,036,588
Account
Amount
407.4
$
107,426
489.2
1,679,392
489.4
1,713,165
Total
$
3,499,983
Account
Amount
407.4
$
43,326
489.2
(3,362,400)
Total
$
(3,319,074)
Account
Amount
407.4
$
6,023
489.2
24,775
489.4
11,779
Total
$
42,577
See Page 332 for additional details on Transmission and Compression of Gas by Others.
Distributions of earnings.
450,000 Mcf (dekatherm equivalent 463,500 by a factor of 1.030) represents our half of Bear Creek's total certified maximum daily delivery capacity.
The Bear Creek Storage Field is owned 50 percent each by Southern Natural Gas Company, L.L.C. and us.
Transferred to retirement work in progress.
See page 218 "General Description of Construction Overhead Procedure" for the basis of allocation.
Miles
Joint Owner
Percentage of Ownership
31.5
Southern Natural Gas Company, L.L.C.
50.00
Miles
Joint Owner
Percentage of Ownership
49.2
Eastern Gas Transmission and Storage, Inc. / National Fuel Gas Supply Corporation
32.63
This project is subject to incremental fuel and electric power rates. Please refer to Fuel Tracker Filing in Docket No. RP26-589 for further detail.
The cost categories reported in columns (g), (h) and (j) of this page have been allocated or assigned to the listed projects based on reasonable assumptions. These may differ from the cost allocation and rate design methodology that we may use in a Section 4 filing.
Volumes converted from Mcf to Dth using a 1.030 BTU conversion factor.
The volume reported is related to account 803 "Natural Gas Transmission Line Purchases".
The volume reported is related to account 803 "Natural Gas Transmission Line Purchases".
Gas withdrawn for operational balancing purposes.
Gas withdrawn for operational balancing purposes.
Volume subject to ACA surcharge.
Gas injected for operational balancing purposes.
Gas injected for operational balancing purposes.
Account
Amount
186
$
231,616
806
20,015,926
Total
$
20,247,542
Account
Amount
232
$
168,713
242
197,070
Total
$
365,783
Account
Amount
131
$
1,930
254
3,693,861
Total
$
3,695,791
Account
Amount
142
$
461,459
146
145
253
17,324
495
925
Total
$
479,853
Account
Amount
142
$
2,345,085
407.4
89
Total
$
2,345,174
Account
Amount
407.3
$
4,884,303
407.4
136,327,912
Total
$
141,212,215
Account
Amount
407.3
$
2,311,748
407.4
11,330,206
Total
$
13,641,954
We also contracted for 32,127,789 Dth from third party storage which is not included in Line 1.
We also contracted for 904,196 Dth from third party storage which is not included in Line 7.
Station cannot exceed 34,801 hp at any given time, which can be achieved using any combination of units at the station.
Pursuant to Docket No. CP20-50-000, in conjunction with the Evangeline Pass 7(c) application, this station was placed in service on May 5, 2025
Station cannot exceed 14,000 hp at any given time
, which can be achieved using any combination of units at the station.
Station cannot exceed 20,219 hp at any given time
, which can be achieved using any combination of units at the station.
On November 1, 2025, pursuant to Docket No. CP25-42-000, we added 1 Solar Titan 130 rated at 15,721 hp (summer site rated), and retired 9 units (Units 1A-9A)
totaling 14,400 hp
, each rated at 1600 hp.
Pursuant to Docket No. CP25-42, summer capability at this station is 31,721 hp, but will be limited using station level controls to meet the currently certificated 30,400 hp in the summer. Certificated winter rating is
32,960 hp,
and can be achieved with existing Units 1C and 2C, and the
Solar Titan 130 installed November 1, 2025.
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.
Use tax is distributed to various accounts based on the accounts charged for the originating invoice.
Transferred to Account 211 "Miscellaneous Paid in Capital."
Excludes storage compression directly deducted by storage partner/operator shown on page 508.
Reconciliation of lost and unaccounted for Dth to page 520, line 32:
Page 331 Line 7 Total
1,546,310
Reversal of 12/2024 Estimated UAF
(253,117)
Recording of 12/2025 Estimated UAF
244,418
Physical to Financial Balancing
124,616
Page 520 Line 32 Total
1,662,227
Underground Storage Plant (in thousands)
Pg 204 Ln 57 Col (g)
$ 170,610
Less: Land
63
$ 170,547
Transmission Plant (in thousands)
Pg 204 Ln 92 Col (g)
$ 11,157,037
Less: Land
24,073
Less: DOMAC Incremental (fully depreciated)
34,136
$ 11,098,828
General Plant (in thousands)
Pg 204 Ln 121 Col (g)
$ 143,818
Less: Land
456
$ 143,362
Intangible Plant (in thousands)
Pg 204 Ln 5 Col (g)
$ 79,877
Less: FERC Certificates (Fully Depr)
13
Less: Franchise & Consents (Fully Depr)
5,303
Less: Misc/Other (Fully Depr)
1,577
$ 72,984
Includes 150,493 Dth of storage compression directly deducted by storage partner/operator and not credited to Account 810. Includes 266,886 Dth of compression credited by storage partner/operator and not recorded to Account 810. Excludes 127,799 Dth of storage compression credited to Account 810. Excludes Arlington, Bear Creek, Caledonia, Freebird, Kinder Morgan Texas, Leaf River, National Fuel, and Pine Prairie compression of 2,054,678 Dth not included in Account 810.
On June 4, 2025, pursuant to Docket No. CP24-495, we added 2 Solar Taurus 70 units, each rated at 8,100 ISO hp (summer site rated) and retired 5 units (Units 8A-12A), each rated at 2700 hp. Unit 7A, a 2,700 hp unit, serves as a backup unit.
Dth
Gas Used for Compressor Station Fuel
44,875,409
Less:
Estimates
5,064,684
Adjustments for Storage Fuel
(1,938,285)
Third Party Fuel
11,406
3,137,805
Page 508, column i, lines 5 & 91
41,737,604
Estimates, adjustments for storage fuel and third party fuel are not included on page 508, column i.
These revenues are associated with park and loan agreements. The activity for park and loan and the net beginning and ending balances for the quarter are as follows:
Dth
Net Park / (Loan) Balance - Beginning of Quarter
11,607,676
Month 1 - net activity
(3,756,918)
Month 2 - net activity
6,802,918
Month 3 - net activity
5,615,924
Net quarterly activity
8,661,924
Net Park/(Loan) Balance - End of Quarter
20,269,600