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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of pretax income and income tax provision (benefit) for continuing operations | The income tax provision was as follows for the years ended December 31:
(In millions) | 2022 |  | 2021 |  | 2020
Components of income tax provision (benefit): |  |  |  |  |
Current: |  |  |  |  |
Federal | $ | 802 |  |  | $ | 378 |  |  | $ | (25) |
State | 175 |  |  | 138 |  |  | 71 |
Foreign | 132 |  |  | 109 |  |  | 79 |
| 1,109 |  |  | 625 |  |  | 125 |
Deferred: |  |  |  |  |
Federal | (339) |  |  | (186) |  |  | 189 |
State | (84) |  |  | (106) |  |  | (34) |
Foreign | (135) |  |  | 30 |  |  | (84) |
| (558) |  |  | (262) |  |  | 71 |
Income tax provision | $ | 551 |  |  | $ | 363 |  |  | $ | 196 |
Reconciliation of statutory federal income tax rate to effective income tax rate | A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows for the years ended December 31:
| 2022 |  | 2021 |  | 2020
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal effect | 2.5 | % |  | 1.6 | % |  | 2.0 | %
Foreign tax law changes | — | % |  | 8.0 | % |  | 2.8 | %
Foreign derived intangibles income deduction | (0.9) | % |  | (3.1) | % |  | (3.2) | %
Excess tax benefit from share-based awards | (0.8) | % |  | (2.2) | % |  | (3.9) | %
Sale of businesses and subsidiary restructuring | (2.2) | % |  | (2.1) | % |  | 0.7 | %
Unrecognized tax benefits | (0.5) | % |  | (2.7) | % |  | (1.0) | %
Nondeductible executive compensation | 0.4 | % |  | 0.7 | % |  | 2.0 | %
Valuation allowance | (0.5) | % |  | (1.3) | % |  | (1.7) | %
Other, net | (0.1) | % |  | 1.9 | % |  | (2.0) | %
Effective income tax rate | 18.9 | % |  | 21.8 | % |  | 16.7 | %
Schedule of deferred tax assets and liabilities | Significant components of deferred tax assets and liabilities consisted of the following at December 31:
(In millions) | 2022 |  | 2021
Accrued expenses | $ | 170 |  |  | $ | 171 |
Share-based compensation | 116 |  |  | 134 |
Net operating loss and credit carry-forwards | 805 |  |  | 804 |
Leasing liabilities | 170 |  |  | 194 |
Other | 163 |  |  | 194 |
Subtotal | 1,424 |  |  | 1,497 |
Valuation allowance | (620) |  |  | (697) |
Total deferred tax assets | 804 |  |  | 800 |
Capitalized software development costs | (481) |  |  | (633) |
Intangible assets | (2,319) |  |  | (2,676) |
Property and equipment | (308) |  |  | (280) |
Capitalized commissions | (106) |  |  | (95) |
Investments in joint ventures | (597) |  |  | (630) |
Leasing right-of-use assets | (134) |  |  | (142) |
Other | (405) |  |  | (474) |
Total deferred tax liabilities | (4,350) |  |  | (4,930) |
Total | $ | (3,546) |  |  | $ | (4,130) |
Deferred tax assets and liabilities are reported in the consolidated balance sheets as follows at December 31:
(In millions) | 2022 |  | 2021
Noncurrent assets | $ | 56 |  |  | $ | 42 |
Noncurrent liabilities | (3,602) |  |  | (4,172) |
Total | $ | (3,546) |  |  | $ | (4,130) |
Schedule of operating loss carryforwards and general business credit carryforwards | The following table presents the amounts of federal, state and foreign net operating loss carryforwards and general business credit carryforwards at December 31:
(In millions) | 2022 |  | 2021
Net operating loss carryforwards: (1) |  |  |
Federal | $ | 214 |  |  | $ | 178 |
State | 2,810 |  |  | 3,763 |
Foreign | 2,373 |  |  | 2,580 |
General business credit carryforwards (2) | 17 |  |  | 12 |
(1)At December 31, 2022, the Company had federal net operating loss carryforwards of $214 million, most of which do not expire, state net operating loss carryforwards of $2.8 billion, most of which expire in 2023 through 2042, and foreign net operating loss carryforwards of $2.4 billion, of which $276 million expire in 2023 through 2041, and the remainder of which do not expire. (2)Substantially all of the general business credit carryforwards relate to foreign tax credits.
Schedule of operating loss carryforwards and general business credit carryforwards | The following table presents the amounts of federal, state and foreign net operating loss carryforwards and general business credit carryforwards at December 31:
(In millions) | 2022 |  | 2021
Net operating loss carryforwards: (1) |  |  |
Federal | $ | 214 |  |  | $ | 178 |
State | 2,810 |  |  | 3,763 |
Foreign | 2,373 |  |  | 2,580 |
General business credit carryforwards (2) | 17 |  |  | 12 |
(1)At December 31, 2022, the Company had federal net operating loss carryforwards of $214 million, most of which do not expire, state net operating loss carryforwards of $2.8 billion, most of which expire in 2023 through 2042, and foreign net operating loss carryforwards of $2.4 billion, of which $276 million expire in 2023 through 2041, and the remainder of which do not expire. (2)Substantially all of the general business credit carryforwards relate to foreign tax credits.
Schedule of unrecognized tax benefits | Unrecognized tax benefits were as follows at December 31:
(In millions) | 2022 |  | 2021 |  | 2020
Unrecognized tax benefits - Beginning of year | $ | 124 |  |  | $ | 171 |  |  | $ | 145 |
Increases for tax positions taken during the current year | 3 |  |  | 16 |  |  | 9 |
Increases for tax positions taken in prior years | — |  |  | 5 |  |  | 53 |
Decreases for tax positions taken in prior years | (18) |  |  | (41) |  |  | (23) |
Decreases for settlements | (2) |  |  | (1) |  |  | (2) |
Lapse of the statute of limitations | (11) |  |  | (26) |  |  | (11) |
Unrecognized tax benefits - End of year | $ | 96 |  |  | $ | 124 |  |  | $ | 171 |

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