We know that either in ideal or practical transformer in no-load condition, the exciting current has two components Ic(core loss component) and Im(magnetizing component). Now since the same current will flow through the winding, how can the two current be out of phase as we learned the current goes out phase when the current is divided into paths, and there is the same voltage between two distinct terminals. You can explain this in an equivalent circuit but in the actual circuit the current division is not possible as there is just single wire winding.
How is this possible? Is it just a theoretical concept just to make it easy for understanding, or am I missing something here?