v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
4. Income Taxes
Effective Tax Rate Reconciliations
The reconciliations of the effective tax rate for the periods were:
 Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Income (loss) before income taxes$97 $570 $(90)$958 
Income tax benefit (expense)(25)(112)27 (181)
Effective tax rate25.8 %19.6 %30.0 %18.9 %
Federal income tax statutory tax rate21 %21 %21 %21 %
Income tax benefit (expense) computed at the federal income tax statutory tax rate$(20)$(120)$19 $(201)
Income tax increase (decrease) due to:
NDT taxes(12)(4)(10)(15)
State income taxes, net of federal benefit(2)(17)3 (29)
Other permanent differences9 6 15 12 
Change in valuation allowance— 14 — 34 
Nuclear PTC— 9 — 18 
Income tax benefit (expense)$(25)$(112)$27 $(181)
One Big Beautiful Bill Act
On July 4, 2025, the One Big Beautiful Bill Act (the “OBBB”) was signed into law. The OBBB, among other things, makes key elements of the Tax Cuts and Jobs Act permanent, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. The Company is in the process of evaluating the financial effects of the OBBB to its income tax provision.