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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Operating Loss, Capital Loss and General Business Credit Carryforwards | Set forth below is a table that documents our domestic and foreign income tax attributes at December 31, 2024:
Type |  | Jurisdiction |  | Amount (in millions) |  | Tax Year Expiration
Net operating loss |  | U.S. Federal |  | $ | 576 |  |  | None
Capital loss |  | U.S. Federal and States |  | 2 |  |  | 2028
Net operating loss |  | U.S. States |  | 901 |  |  | Various
Net operating loss |  | Brazil |  | 19 |  |  | None
Net operating loss |  | Canada |  | 7 |  |  | Through 2042
Capital loss |  | Canada |  | 5 |  |  | None
General business credit |  | U.S. Federal |  | 4 |  |  | 2044
Summary of Primary Components of Net Deferred Tax Asset | The primary components of our net deferred tax assets are as follows (in millions):
| As of December 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Net operating losses, general business credits, and capital loss carryovers | $ | 182 |  |  | $ | 205 |
Investments in domestic affiliates | 1 |  |  | — |
Property and equipment | 2 |  |  | 3 |
Deferred revenue and expenses | 30 |  |  | 20 |
Foreign exchange net losses (AOCI) | 12 |  |  | 12 |
Total gross deferred tax assets | 227 |  |  | 240 |
Less: Valuation allowance | (10) |  |  | (18) |
Total deferred tax assets, net of valuation allowance | $ | 217 |  |  | $ | 222 |
Deferred tax liabilities |  |  |
Investments in domestic affiliates | — |  |  | (1) |
Total gross deferred tax liabilities | — |  |  | (1) |
Net deferred tax assets | $ | 217 |  |  | $ | 221 |
Summary of Income (Loss) from Continuing Operations Before Income Taxes | Our U.S. and foreign income from continuing operations before income taxes were as follows (in millions):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
U.S. income | $ | 697 |  |  | $ | 768 |  |  | $ | 659 |
Foreign income | 24 |  |  | 20 |  |  | 10 |
Total | $ | 721 |  |  | $ | 788 |  |  | $ | 669 |
Summary of Provision for Income Taxes from Continuing Operations | Income tax provision for continuing operations consists of (in millions):
|  | Year ended December 31,
|  | 2024 |  | 2023 |  | 2022
Current | —Federal | $ | — |  |  | $ | 3 |  |  | $ | 3 |
| —State | 2 |  |  | 3 |  |  | 2 |
| —Foreign | 4 |  |  | 4 |  |  | 1 |
|  | 6 |  |  | 10 |  |  | 6 |
Deferred | —Federal | 4 |  |  | 15 |  |  | 13 |
| —State | 3 |  |  | 10 |  |  | 5 |
| —Foreign | 1 |  |  | 1 |  |  | 2 |
|  | 8 |  |  | 26 |  |  | 20 |
Income tax provision - continuing operations | $ | 14 |  |  | $ | 36 |  |  | $ | 26 |
Summary of Income Tax Provision Calculated at Statutory U.S. Federal Corporate Income Tax Rate and Actual Income Tax Provision Recorded | The differences between the income tax provision calculated at the statutory U.S. federal corporate income tax rate of 21% and the actual income tax provision recorded for continuing operations are as follows (in millions):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Statutory federal income tax provision | $ | 151 |  |  | $ | 165 |  |  | $ | 140 |
Adjustment for nontaxable income of Host Inc. | (147) |  |  | (147) |  |  | (124) |
State income tax provision, net | 5 |  |  | 13 |  |  | 7 |
Foreign income tax provision | 5 |  |  | 5 |  |  | 3 |
Total | $ | 14 |  |  | $ | 36 |  |  | $ | 26 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
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