v2.4.1.9

Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Consolidated Income Tax Expense

The consolidated income tax expense consists of the following for the years ended December 31 ($ in millions):

	2014				2013				2012
Current provision:
Federal	$	225			$	121			$	47
State and local	13				6				(4		)
Total current provision	238				127				43
Deferred provision	(42		)		(20		)		4
Total provision for income taxes	$	196			$	107			$	47

Reconciliation Of The Tax Provision At The U.S. Federal Statutory Rate To The Provision For Income Taxes

The reconciliation of the tax provision at the U.S. Federal Statutory Rate to the provision for income taxes for the years ended December 31 is as follows ($ in millions):

	2014				2013				2012
Earnings from continuing operations, before income tax expense	$	457			$	269			$	123
(Earnings) loss attributable to flow through noncontrolling interest	4				(1		)		2
Earnings from continuing operations, less noncontrolling interest, before income tax expense	461				268				125
Tax provision at the U.S. federal statutory rate	162				94				44
State income taxes, net of federal income tax benefit	6				3				(2		)
Nondeductible compensation	1				12				1
Benefit from reversal of prior years impact of 162(m)(6) regulations	(14		)		—				—
ACA Health Insurer Fee	44				—				—
Nondeductible goodwill impairment	—				—				8
Other, net	(3		)		(2		)		(4		)
Income tax expense	$	196			$	107			$	47

Tax Effects Of Temporary Differences Which Give Rise To Deferred Tax Assets And Liabilities

The tax effects of temporary differences which give rise to deferred tax assets and liabilities are presented below for the years ended December 31 ($ in millions):

	2014				2013
Deferred tax assets:
Medical claims liability	$	27			$	20
Accrued expenses	11				5
Net operating loss carryforward	21				16
Compensation accruals	53				31
Premium and related receivables	35				20
Other	9				16
Deferred tax assets	156				108
Valuation allowance	(12		)		(8		)
Net deferred tax assets	$	144			$	100
Deferred tax liabilities:
Intangible assets	$	25			$	18
Prepaid assets	6				6
Depreciation and amortization	26				30
Other	4				2
Deferred tax liabilities	61				56
Net deferred tax assets	$	83			$	44

Reserve For Uncertain Tax Positions

As of December 31, 2014 and 2013, the Company maintained reserves for uncertain tax positions of $4 million and $3 million, respectively, that may be challenged by a tax authority.

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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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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 tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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