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Income Taxes | 9 Months Ended
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Sep. 30, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | 6. Income Taxes The components of U.S. and foreign income before income tax and a reconciliation between the federal income tax expense at statutory rates and the actual income tax expense is as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) before income tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | $ 638 |  |  |  | $ 188 |  |  |  | $ 535 |  |  |  | $ 454 |
Foreign |  |  | (82) |  |  |  | 160 |  |  |  | (60) |  |  |  | 294 |
Total |  |  | $ 556 |  |  |  | $ 348 |  |  |  | $ 475 |  |  |  | $ 748 |
Income tax expense at statutory rate |  |  | $ 194 |  |  |  | $ 122 |  |  |  | $ 166 |  |  |  | $ 262 |
Increase (decrease) in income tax expense resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exempt investment income |  |  | (28) |  |  |  | (34) |  |  |  | (92) |  |  |  | (92) |
Foreign related tax differential |  |  | 2 |  |  |  | (27) |  |  |  | 102 |  |  |  | (32) |
Amortization of deferred charges associated with intercompany rig sales to other tax jurisdictions |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 42 |
Taxes related to domestic affiliate |  |  | 1 |  |  |  | 5 |  |  |  | 2 |  |  |  | (1) |
Partnership earnings not subject to taxes |  |  | (9) |  |  |  | (6) |  |  |  | (37) |  |  |  | (26) |
Unrecognized tax benefit |  |  | (2) |  |  |  | (4) |  |  |  | 8 |  |  |  | 1 |
Other |  |  | 5 |  |  |  | 9 |  |  |  | 22 |  |  |  | 16 |
Income tax expense |  |  | $ 163 |  |  |  | $ 66 |  |  |  | $ 171 |  |  |  | $ 170 |
The effective tax rate is impacted by the change in the relative components of earnings or losses generated in foreign tax jurisdictions with lower tax rates. As of September 30, 2016, a valuation allowance of $61 million was established for the future tax benefit of foreign tax credits in the U.S. which Diamond Offshore no longer expects to be able to realize prior to their expiration.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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