v3.26.1
RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure RELATED PARTY TRANSACTIONS
We may incur charges from Fortis and other affiliates of Fortis that are not subsidiaries of ITC Holdings (“Fortis and Fortis affiliates”) for general corporate expenses incurred. In addition, we may perform additional services for, or receive additional services from, Fortis and such subsidiaries. These transactions are in the normal course of business and payments for these services are settled through accounts receivable and accounts payable, as necessary.
Periodically, we pay dividends to ITC Investment Holdings as shown in the condensed consolidated statements of cash flows.
We are organized as a corporation for tax purposes and subject to a tax sharing agreement as a wholly-owned subsidiary of ITC Investment Holdings. Additionally, we record income taxes based on our separate company tax position and make or receive tax-related payments with ITC Investment Holdings. See Note 13 for information on income tax payments made to ITC Investment Holdings.
March 31,December 31,
(In millions of USD)20262025
Statements of financial position activity:
Accounts receivable from Fortis and Fortis affiliates$— $1 
Net income tax receivable from ITC Investment Holdings (a)4 2 
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(a)Recorded in prepaid and other current assets on the condensed consolidated statements of financial position.
Three Months Ended
March 31,
(In millions of USD)20262025
Statements of comprehensive income activity:
Billed from Fortis and Fortis affiliates (a)$4 $4 
Billed to Fortis and Fortis affiliates (b)2 1 
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(a)Recorded in general and administrative expenses in the condensed consolidated statements of comprehensive income.
(b)Recorded as an offset to general and administrative expenses in the condensed consolidated statements of comprehensive income.