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Income Taxes | 9 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | 15. Income Taxes The components of income tax (benefit) expense were as follows:
| Successor |  |  | Predecessor
| Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019 |  | Two Months Ended September 30, 2018 |  |  | One Month Ended July 31, 2018 |  | Seven Months Ended July 31, 2018
Income (loss) before income tax expense (benefit) | $ | 107 |  |  | $ | (243 | ) |  | $ | 41 |  |  |  | $ | (83 | ) |  | $ | 202 |
Income tax expense (benefit) | $ | 24 |  |  | $ | (52 | ) |  | $ | (979 | ) |  |  | $ | (19 | ) |  | $ | 48 |
Effective tax rate(1) | 22.3 | % |  | 21.5 | % |  | (2,377.1 | )% |  |  | 23.1 | % |  | 23.8 | %
(1) | Effective tax rate is calculated using whole numbers.
For the three and nine months ended September 30, 2019, the effective tax rate differed from the statutory federal rate of 21% primarily due to permanent differences including executive compensation disallowed under Internal Revenue Code Section 162(m) and nondeductible meals and entertainment expenses, as well as other recurring items such as the state tax benefit. For the two months ended September 30, 2018, the effective tax rate differed from the statutory federal rate of 21% primarily due to the reversal of the valuation allowance associated with the net operating loss (“NOL”) carryforwards of WMIH, permanent differences including executive compensation disallowed under Internal Revenue Code Section 162(m) and nondeductible meals and entertainment expenses. For the one and seven months ended July 31, 2018 in the predecessor period, the effective tax rate differed slightly from the statutory federal rate of 21% primarily due to state tax provision, adjustments in connection with the remediation of the Predecessor’s uncertain tax position and various permanent differences, including nondeductible transaction costs in connection with the Merger.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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