v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Shareholders' Equity
Note 6: Shareholders’ Equity
Accumulated Other Comprehensive Loss
Presented in the table below are the changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2025 and 2024, respectively:
 Defined Benefit Pension PlansGain (Loss) on Cash Flow HedgesGain (Loss) on Fixed-Income SecuritiesAccumulated Other Comprehensive Income (Loss)
 Employee Benefit Plan Funded StatusAmortization of Prior Service CostAmortization of Actuarial Loss
Balance as of December 31, 2024$(95)$1 $74 $30 $2 $12 
Other comprehensive income (loss) before reclassifications— — — (8)2 (6)
Amounts reclassified from accumulated other comprehensive income (loss)— — — — (4)(4)
Net other comprehensive loss— — — (8)(2)(10)
Balance as of March 31, 2025$(95)$1 $74 $22 $— $2 
Balance as of December 31, 2023$(96)$1 $74 $(9)$4 $(26)
Other comprehensive income (loss) before reclassifications— — — 19 (1)18 
Net other comprehensive income (loss)— — — 19 (1)18 
Balance as of March 31, 2024$(96)$1 $74 $10 $3 $(8)
The Company does not reclassify the amortization of defined benefit pension cost components from accumulated other comprehensive income (loss) directly to net income in its entirety, as a portion of these costs have been deferred as a regulatory asset. These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost.
The amortization of the gain (loss) on cash flow hedges is reclassified to net income during the period incurred and is included in Interest expense in the accompanying Consolidated Statements of Operations.
An unrealized gain (loss) on available-for-sale fixed-income securities is reclassified to net income upon sale of the securities as a realized gain or loss and is included in Other, net in the accompanying Consolidated Statements of Operations.
Dividends
On March 4, 2025, the Company paid a quarterly cash dividend of $0.7650 per share to shareholders of record as of February 7, 2025.
On April 30, 2025, the Company’s Board of Directors declared a quarterly cash dividend payment of $0.8275 per share, payable on June 3, 2025, to shareholders of record as of May 13, 2025. Future dividends, when and as declared at the discretion of the Board of Directors, will be dependent upon future earnings and cash flows, compliance with various regulatory, financial and legal requirements, and other factors. See Note 9—Shareholders’ Equity in the Notes to Consolidated Financial Statements in the Company’s Form 10-K for additional information regarding the payment of dividends on the Company’s common stock.