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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Provision for Income Taxes

Our income tax expense consisted of the following for the years ended December 31 (in millions):

		2018			2017			2016
Current:
Federal		$	256		$	400		$	443
State			132			56			88
Foreign			40			37			38
			428			493			569
Deferred:
Federal			59			(316)			57
State			(32)			62			17
Foreign			(2)			3			(1)
			25			(251)			73
Income tax expense		$	453		$	242		$	642

U.S. Federal Statutory Income Tax Rate Reconciled to Effective Rate

The U.S. federal statutory income tax rate is reconciled to the effective income tax rate for the years ended December 31 as follows:

		2018			2017			2016
Income tax expense at U.S. federal statutory rate		21.00	%		35.00	%		35.00	%
State and local income taxes, net of federal income tax benefit		4.41			3.25			3.31
Impacts of enactment of tax reform		(0.51)			(24.14)			—
Federal tax credits		(2.44)			(2.31)			(3.08)
Taxing authority audit settlements and other tax adjustments		(3.85)			0.03			(0.53)
Tax impact of equity-based compensation transactions		(0.54)			(1.45)			—
Tax impact of impairments		0.03			0.66			0.80
Tax rate differential on foreign income		0.43			(0.55)			(0.63)
Other		0.51			0.55			0.36
Effective income tax rate		19.04	%		11.04	%		35.23	%

Summary of income source

For financial reporting purposes, income before income taxes by source for the years ended December 31 was as follows (in millions):

		2018			2017			2016
Domestic		$	2,235		$	2,040		$	1,681
Foreign			141			151			141
Income before income taxes		$	2,376		$	2,191		$	1,822

Components of Net Deferred Tax Assets (Liabilities)

The components of net deferred tax liabilities as of December 31 are as follows (in millions):

		2018			2017
Deferred tax assets:
Net operating loss, capital loss and tax credit carry-forwards		$	258		$	259
Landfill and environmental remediation liabilities			143			121
Miscellaneous and other reserves, net			175			96
Subtotal			576			476
Valuation allowance			(261)			(264)
Deferred tax liabilities:
Property and equipment			(752)			(595)
Goodwill and other intangibles			(854)			(865)
Net deferred tax liabilities		$	(1,291)		$	(1,248)

Summary of unrecognized tax benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, including accrued interest, is as follows (in millions):

		2018			2017			2016
Balance as of January 1		$	109		$	82		$	71
Additions based on tax positions related to the current year			6			19			19
Additions based on tax positions of prior years			12			11			4
Accrued interest			2			4			2
Reductions for tax positions of prior years			—			—			(7)
Settlements			(88)			(1)			—
Lapse of statute of limitations			(5)			(6)			(7)
Balance as of December 31		$	36		$	109		$	82

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