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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income Before Income Tax Provision

The following table presents the domestic and foreign components of income (loss) before income tax provision:

	Year Ended December 31,
	2018				2017				2016
	(in millions)
Domestic	$	636			$	556			$	(153	)
Foreign	428				316				286
Income before income tax provision	$	1,064			$	872			$	133

Schedule of Components of Income Tax Expense (Benefit)

The income tax provision consists of the following amounts:

	Year Ended December 31,
	2018				2017				2016
Current income tax provision:	(in millions)
Federal	$	103			$	51			$	37
State	56				17				21
Foreign	146				68				106
Total current income tax provision	305				136				164
Deferred income tax provision (benefit):
Federal	185				(16		)		(98		)
State	116				24				(35		)
Foreign	—				(1		)		(4		)
Total deferred income provision (benefit)	301				7				(137		)
Total income tax provision	$	606			$	143			$	27

Reconciliation of Provision of Income Taxes

A reconciliation of the income tax provision, based on the U.S. federal statutory rate, to our actual income tax provision for the years ended December 31, 2018, 2017 and 2016 is as follows:

	Year Ended December 31,
	2018			2017			2016
Federal income tax provision at the statutory rate	21.0	%		35.0	%		35.0	%
State income tax provision, net of federal effect	3.7	%		2.6	%		(6.7	)%
Change in deferred taxes due to change in law	27.0	%		(9.9	)%		(1.2	)%
Excess tax benefits related to employee share-based compensation	(0.7	)%		(4.0	)%		—	%
Non-U.S. subsidiary earnings	0.1	%		(6.0	)%		(7.3	)%
Tax credits and deductions	(0.2	)%		(1.0	)%		(5.1	)%
Change in unrecognized tax benefits	4.7	%		(0.8	)%		4.2	%
Other, net	1.4	%		0.5	%		1.4	%
Actual income tax provision	57.0	%		16.4	%		20.3	%

Schedule of Deferred Tax Assets and Liabilities

The temporary differences, which give rise to our deferred tax assets and (liabilities), consisted of the following:

	December 31,
	2018				2017
Deferred tax assets:	(in millions)
Deferred revenues	$	19			$	25
U.S. federal net operating loss	—				1
Foreign net operating loss	23				30
State net operating loss	4				4
Compensation and benefits	33				42
Foreign currency translation	—				292
Tax credits	—				7
Federal benefit of uncertain tax positions	17				—
Other	25				20
Gross deferred tax assets	121				421
Less: valuation allowance	(23		)		(30		)
Total deferred tax assets, net of valuation allowance	$	98			$	391
Deferred tax liabilities:
Amortization of software development costs and depreciation	$	(41	)		$	(47	)
Amortization of acquired intangible assets	(498		)		(510		)
Investments	(34		)		(26		)
Other	(22		)		(19		)
Gross deferred tax liabilities	(595		)		(602		)
Net deferred tax liabilities	$	(497	)		$	(211	)
Reported as:
Non-current deferred tax assets(1)	4				14
Deferred tax liabilities, net	(501		)		(225		)
Net deferred tax liabilities	$	(497	)		$	(211	)

____________

⁽¹⁾ Included in other non-current assets in the Consolidated Balance Sheets.

Summary of Net Operating Losses and Credits

As of December 31, 2018, the expiration dates for the NOLs are as follows:

Jurisdiction	Amount			Expiration Date
	(in millions)
Foreign NOL	$	3		2019-2025
Foreign NOL	20			No expiration date
State NOL	4			2025-2036

Summary of Tax Credit Carryforwards

As of December 31, 2018, the expiration dates for the NOLs are as follows:

Jurisdiction	Amount			Expiration Date
	(in millions)
Foreign NOL	$	3		2019-2025
Foreign NOL	20			No expiration date
State NOL	4			2025-2036

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Year Ended December 31,
	2018				2017				2016
	(in millions)
Beginning balance	$	45			$	48			$	40
Additions as a result of tax positions taken in prior periods	28				2				9
Additions as a result of tax positions taken in the current period	6				5				3
Reductions related to settlements with taxing authorities	(23		)		—				(4		)
Reductions as a result of lapses of the applicable statute of limitations	(4		)		(10		)		—
Ending balance	$	52			$	45			$	48

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