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Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Deferred Income Tax Assets and Liabilities
The significant components of deferred income tax assets and liabilities consisted of the following.
($ millions)2024 2023 
Gross deferred income tax assets
Regulatory liabilities659 636 
Tax loss and credit carryforwards629 600 
Employee future benefits123 136 
Other216 144 
1,627 1,516 
Valuation allowance (50)(23)
Net deferred income tax asset1,577 1,493 
Gross deferred income tax liabilities
PPE(5,993)(5,355)
Regulatory assets(432)(372)
Intangible assets(172)(165)
(6,597)(5,892)
Net deferred income tax liability(5,020)(4,399)

Income Tax Expense
($ millions)2024 2023 
Canadian
Earnings before income tax expense518 526 
Current income tax154 71 
Deferred income tax(87)17 
Total Canadian67 88 
Foreign
Earnings before income tax expense1,656 1,544 
Current income tax38 17 
Deferred income tax241 255 
Total Foreign279 272 
Income tax expense346 360 

Income tax expense differs from the amount that would be expected to be generated by applying the enacted combined Canadian federal and provincial statutory income tax rate to earnings before income tax expense.
The following is a reconciliation of consolidated statutory taxes to consolidated effective taxes.
($ millions, except as indicated)2024 2023 
Earnings before income tax expense2,174 2,070 
Combined Canadian federal and provincial statutory income tax rate (%)
30.0 30.0 
Expected federal and provincial taxes at statutory rate652 621 
(Decrease)/Increase resulting from:
Foreign and other statutory rate differentials(169)(166)
Effects of rate-regulated accounting(97)(98)
Tax credits(36)(14)
Enactment of new tax laws, change in tax rate2 12 
Other(6)5 
Income tax expense346 360 
Effective tax rate (%)
15.9 17.4 

Income Tax Carryforwards(1)
($ millions)
Expiring Year2024 
Canadian
Non-capital loss2028-2044155 
Other tax credits and restricted interest and financing expenses(2)
2026-204477 
232 
Foreign
Federal and state net operating loss(3)
2029-2044315 
Other tax credits2027-204482 
397 
Total income tax carryforwards recognized629 
(1)    Income tax carryforwards presented on an after-tax basis
(2)    Indefinite carryforward for restricted interest and financing expenses
(3)    Indefinite carryforward for Federal net operating losses, and for states that have adopted the Federal provisions, effective for tax years beginning after December 31, 2017

The Corporation and certain of its subsidiaries are subject to taxation in Canada, the United States and other foreign jurisdictions. The material jurisdictions in which the Corporation is subject to potential income tax compliance examinations include the United States (Federal, Arizona, Kansas, Iowa, Michigan, Minnesota and New York) and Canada (Federal, British Columbia and Alberta). The Corporation's 2020 to 2024 taxation years are still open for audit in Canadian jurisdictions, and its 2020 to 2024 taxation years are still open for audit in United States jurisdictions.