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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Total income tax expense for the years ended December 31, 2016, 2015 and 2014 is allocated as follows (in millions):

	2016				2015				2014
Tax expense per statements of earnings	$	317			$	379			$	335
Tax expense attributable to discontinued operations	1				(2		)		(3		)
Unrealized (loss) gain on foreign currency translation	30				—				(5		)
Other components of other comprehensive income	1				(5		)		(2		)
Total income tax expense (benefit) allocated to other comprehensive income	31				(5		)		(7		)
Tax benefit from exercise of stock options	(32		)		(29		)		(40		)
Total income tax expense	$	317			$	343			$	285

Income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2016, 2015 and 2014 consists of the following (in millions):

	2016				2015				2014
Current provision:
Federal	$	308			$	248			$	248
State	54				33				32
Foreign	131				52				64
Total current provision	$	493			$	333			$	344
Deferred provision (benefit):
Federal	$	(147	)		$	50			$	(4	)
State	(12		)		5				(2		)
Foreign	(17		)		(9		)		(3		)
Total deferred provision	(176		)		46				(9		)
Total provision for income taxes	$	317			$	379			$	335

Schedule of Pre-tax Income from Continuing Operations

The provision for income taxes is based on pre-tax income from continuing operations, which is as follows for the years ended December 31, 2016, 2015 and 2014 (in millions):

	2016				2015				2014
United States	$	571			$	864			$	789
Foreign	335				173				264
Total	$	906			$	1,037			$	1,053

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate for the years ended December 31, 2016, 2015 and 2014 is as follows:

	2016			2015			2014
Federal statutory income tax rate	35.0	%		35.0	%		35.0	%
State income taxes	3.0			4.6			4.6
Federal benefit of state taxes	(1.0	)		(1.6	)		(1.6	)
Foreign rate differential	(3.0	)		(2.6	)		(2.6	)
Other	1.0			1.1			(3.6	)
Effective income tax rate	35.0	%		36.5	%		31.8	%

Schedule of Deferred Income Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities as of December 31, 2016 and 2015 consist of the following (in millions):

	2016				2015
Deferred income tax assets:
Net operating loss carryforwards	$	223			$	228
Employee benefit accruals	111				98
Other deferred tax assets	151				112
Total gross deferred income tax assets	485				438
Less valuation allowance	(177		)		(167		)
Total deferred income tax assets	308				271
Deferred income tax liabilities:
Amortization of goodwill and intangible assets	2,464				2,606
Deferred contract costs	131				103
Other deferred tax liabilities	75				100
Total deferred income tax liabilities	2,670				2,809
Net deferred income tax liability	$	2,362			$	2,538

Deferred income taxes have been classified in the Consolidated Balance Sheets as of December 31, 2016 and 2015 as follows (in millions):

	2016				2015
Current assets	$	101			$	100
Noncurrent assets (included in other noncurrent assets)	25				22
Total deferred income tax assets	126				122
Current liabilities (included in accounts payable and accrued liabilities)	(4		)		(2		)
Noncurrent liabilities	(2,484		)		(2,658		)
Total deferred income tax liabilities	(2,488		)		(2,660		)
Net deferred income tax liability	$	(2,362	)		$	(2,538	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table reconciles the gross amounts of unrecognized tax benefits at the beginning and end of the period (in millions):

	Gross Amount
Amounts of unrecognized tax benefits as of January 1, 2015	$	18
Amount of decreases due to lapse of the applicable statute of limitations	(5		)
Assumed in SunGard acquisition	82
Increases as a result of tax positions taken in the current period	1
Increases as a result of tax positions taken in a prior period	2
Amount of unrecognized tax benefit as of December 31, 2015	98
Amount of decreases due to lapse of the applicable statute of limitations	(4		)
Amount of decreases due to settlements	(23		)
Increases as a result of tax positions taken in the current period	2
Increases as a result of tax positions taken in a prior period	14
Amount of unrecognized tax benefit as of December 31, 2016	$	87

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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