Shares available under the program to purchase outstanding common stock (in shares)

[Table of Contents](#ifb4765332bfb410ba6ce53d196f7d99d_7)Intangible AssetsThe Company held finite-lived intangible assets, including customer relationships and other intangible assets prior to the sale of HOS during the fourth quarter of 2021. All of the Company’s finite-lived intangible assets were sold as part of the HOS sale transaction. As a result, there was no gross carrying value or net book value of customer relationships and other intangible assets remaining as of December 31, 2021. The gross carrying value of customer relationships and other intangible assets as of December 31, 2020 was $78 million and $13 million, respectively. Accumulated amortization of customer relationships and other intangible assets was $29 million and $7 million, respectively, as of December 31, 2020. Intangible asset amortization expense amounted to $9 million, $12 million and $14 million for the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense related to customer relationships and other intangible assets was $7 million and $2 million, respectively, for the year ended December 31, 2021.Note 10: Shareholders’ EquityCommon StockUnder the Company’s dividend reinvestment and direct stock purchase plan (the “DRIP”), shareholders may reinvest cash common stock dividends and purchase additional shares of Company common stock, up to certain limits, through the plan administrator without paying brokerage commissions. Shares purchased by participants through the DRIP may be newly issued shares, treasury shares, or at the Company’s election, shares purchased by the plan administrator in the open market or in privately negotiated transactions. Purchases generally will be made and credited to DRIP accounts once each week. As of December 31, 2021, there were approximately 5.1 million shares available for future issuance under the DRIP.Anti-dilutive Stock Repurchase ProgramIn February 2015, the Company’s Board of Directors authorized an anti-dilutive stock repurchase program, which allows the Company to purchase up to 10 million shares of its outstanding common stock from time to time over an unrestricted period of time. The Company did not repurchase shares of common stock during the years ended December 31, 2021 and 2020. As of December 31, 2021, there were 5.1 million shares of common stock available for purchase under the program.Accumulated Other Comprehensive LossPresented in the table below are the changes in accumulated other comprehensive loss by component, net of tax, for the years ended December 31, 2021 and 2020:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Defined Benefit Plans |  | Gain (Loss) on Cash Flow Hedge |  | Accumulated Other Comprehensive Loss |
|   | Employee Benefit Plan Funded Status |  | Amortization of Prior Service Cost |  | Amortization of Actuarial Loss |  |  |
| Beginning balance as of January 1, 2020 | $ | (94) |  |  | $ | 1  |  |  | $ | 60  |  |  | $ | (3) |  |  | $ | (36) |  |
| Other comprehensive income (loss) before reclassification | (12) |  |  | —  |  |  | —  |  |  | (4) |  |  | (16) |  |
| Amounts reclassified from accumulated other comprehensive loss | —  |  |  | —  |  |  | 3  |  |  | —  |  |  | 3  |  |
| Net other comprehensive income (loss) | (12) |  |  | —  |  |  | 3  |  |  | (4) |  |  | (13) |  |
| Ending balance as of December 31, 2020 | $ | (106) |  |  | $ | 1  |  |  | $ | 63  |  |  | $ | (7) |  |  | $ | (49) |  |
| Other comprehensive income (loss) before reclassification | (1) |  |  | —  |  |  | —  |  |  | 1  |  |  | —  |  |
| Amounts reclassified from accumulated other comprehensive loss | —  |  |  | —  |  |  | 4  |  |  | —  |  |  | 4  |  |
| Net other comprehensive income (loss) | (1) |  |  | —  |  |  | 4  |  |  | 1  |  |  | 4  |  |
| Ending balance as of December 31, 2021 | $ | (107) |  |  | $ | 1  |  |  | $ | 67  |  |  | $ | (6) |  |  | $ | (45) |  |

The Company does not reclassify the amortization of defined benefit pension cost components from accumulated other comprehensive 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 loss components are included in the computation of net periodic pension cost. See Note 16—Employee Benefits for additional information.The amortization of the gain (loss) on cash flow hedges is reclassified to net income during the period incurred and is included in interest, net in the accompanying Consolidated Statements of Operations.108
