XML 69 R23.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2019
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of deferred tax assets and liabilities at December 31, 2019 and 2018, are as follows:
(in millions) |  | 2019 |  | 2018
DEFERRED TAX LIABILITIES: |  |  |  |
Accelerated depreciation |  | $ | 3,096 |  |  | $ | 3,395 |
Operating lease right-of-use assets |  | 293 |  |  | — |
Other |  | 93 |  |  | 92 |
Total deferred tax liabilities |  | 3,482 |  |  | 3,487 |
DEFERRED TAX ASSETS: |  |  |  |
Construction obligation |  | 38 |  |  | 355 |
Accrued employee benefits |  | 346 |  |  | 329 |
Rapid rewards loyalty liability |  | 305 |  |  | 267 |
Operating lease liabilities |  | 308 |  |  | — |
Other |  | 121 |  |  | 109 |
Total deferred tax assets |  | 1,118 |  |  | 1,060 |
Net deferred tax liability |  | $ | 2,364 |  |  | $ | 2,427 |
The provision (benefit) for income taxes is composed of the following:
(in millions) |  | 2019 |  | 2018 |  | 2017
CURRENT: |  |  |  |  |  |
Federal |  | $ | 610 |  |  | $ | 338 |  |  | $ | 904 |
State |  | 102 |  |  | 60 |  |  | 72 |
Total current |  | 712 |  |  | 398 |  |  | 976 |
DEFERRED: |  |  |  |  |  |
Federal |  | (18 | ) |  | 299 |  |  | 200 |
State |  | (6 | ) |  | 2 |  |  | 2 |
Change in federal statutory tax rate (a) |  | (31 | ) |  | — |  |  | (1,270 | )
Total deferred |  | (55 | ) |  | 301 |  |  | (1,068 | )
|  | $ | 657 |  |  | $ | 699 |  |  | $ | (92 | )
(a) The Tax Cuts and Jobs Act was enacted in December 2017, which reduced the U.S. federal corporate tax rate from the previous rate of 35 percent to 21 percent. The effective tax rate on income before income taxes differed from the federal income tax statutory rate for the following reasons:
(in millions) |  | 2019 |  | 2018 |  | 2017
Tax at statutory U.S. tax rates |  | $ | 621 |  |  | $ | 664 |  |  | $ | 1,143 |
State income taxes, net of federal benefit |  | 76 |  |  | 49 |  |  | 50 |
Change in federal statutory tax rate (a) |  | (31 | ) |  | — |  |  | (1,270 | )
Other, net |  | (9 | ) |  | (14 | ) |  | (15 | )
Total income tax provision (benefit) |  | $ | 657 |  |  | $ | 699 |  |  | $ | (92 | )
(a) The Tax Cuts and Jobs Act was enacted in December 2017, which reduced the U.S. federal corporate tax rate from the previous rate of 35 percent to 21 percent. The only periods subject to examination for the Company’s federal tax return are the 2018 and 2019 tax years. The Company is also subject to various examinations from state and local income tax jurisdictions in the ordinary course of business. These examinations are not expected to have a material effect on the financial results of the Company.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration