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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Taxes

Schedule of income before income taxes

​

​	​	​	​	​	​	​	​	​	​	​
(in millions)		2021			2020			2019
Income before income taxes:	​	​	​	​	​	​	​	​	​	​
U.S.	​	$	39	​	$	(15)	​	$	74	​
Foreign	​	​	209	​	​	521	​	​	508	​
Total income before income taxes	​	​	248	​	​	506	​	​	582	​
Provision for income taxes:	​	​	​	​	​	​	​	​	​	​
Current tax (benefit) expense:	​	​	​	​	​	​	​	​	​	​
U.S. federal	​	​	2	​	​	1	​	​	6	​
State and local	​	​	2	​	​	2	​	​	2	​
Foreign	​	​	180	​	​	156	​	​	147	​
Total current tax expense	​	​	184	​	​	159	​	​	155	​
Deferred tax expense (benefit):	​	​	​	​	​	​	​	​	​	​
U.S. federal	​	​	(57)	​	​	(18)	​	​	(8)	​
State and local	​	​	(2)	​	​	(1)	​	​	—	​
Foreign	​	​	(2)	​	​	12	​	​	11	​
Total deferred tax expense (benefit)	​	​	(61)	​	​	(7)	​	​	3	​
Total provision for income taxes	​	$	123	​	$	152	​	$	158	​

Schedule of tax effects of temporary differences between financial reporting basis and tax basis of assets and liabilities

​

​	​	​	​	​	​	​	​
(in millions)		2021			2020
Deferred tax assets attributable to:	​	​	​	​	​	​	​
Employee benefit accruals	​	$	28	​	$	20	​
Pensions and postretirement plans	​	​	14	​	​	21	​
Lease liabilities	​	​	49	​	​	44	​
Bad debt	​	​	14	​	​	2	​
Inventory reserve	​	​	13	​	​	9	​
Net operating loss carryforwards	​	​	64	​	​	32	​
Tax credit carryforwards	​	​	18	​	​	11	​
Other	​	​	36	​	​	43	​
Total deferred tax assets	​	​	236	​	​	182	​
Valuation allowances	​	​	(67)	​	​	(30)	​
Net deferred tax assets	​	​	169	​	​	152	​
Deferred tax liabilities attributable to:	​	​	​	​	​	​	​
Property, plant and equipment	​	​	175	​	​	173	​
Identified intangibles	​	​	47	​	​	46	​
Right-of-use lease assets	​	​	46	​	​	42	​
Foreign withholding and state taxes on unremitted earnings	​	​	1	​	​	31	​
Goodwill	​	​	27	​	​	20	​
Brazilian indirect tax credits	​	​	5	​	​	18	​
Derivative contracts	​	​	19	​	​	16	​
Total deferred tax liabilities	​	​	320	​	​	346	​
Net deferred tax liabilities	​	$	151	​	$	194	​

Schedule of reconciliation of US federal statutory tax rate to effective tax rate

​

​	​	​	​	​	​	​	​
​		2021		2020		2019
Provision for tax at U.S. statutory rate	​	21.0	%	21.0	%	21.0	%
Tax rate difference on foreign income	​	13.3	​	9.1	​	6.2	​
Foreign currency FX	​	3.2	​	1.2	​	(0.2)	​
Inflation adjustments	​	(4.0)	​	(0.8)	​	(0.3)	​
Tax benefit of intercompany financing	​	(1.6)	​	(0.8)	​	(1.2)	​
U.S. international tax implications	​	0.8	​	0.6	​	2.2	​
Valuation allowance in Argentina	​	(0.4)	​	(0.6)	​	0.3	​
Favorable judgment on the treatment of credits and interest on indirect taxes	​	(4.8)	​	(0.6)	​	—	​
Unremitted earnings	​	(12.1)	​	—	​	—	​
Impairment charge related to Accor joint venture	​	35.5	​	—	​	—	​
Other items, net	​	(1.3)	​	0.9	​	(0.9)	​
Provision at effective tax rate	​	49.6	%	30.0	%	27.1	%

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits, excluding interest and penalties

​

​	​	​	​	​	​	​	​
(in millions)	​	2021			2020
Balance at January 1	​	$	46	​	$	22	​
Additions for tax positions related to prior years	​	​	2	​	​	33	​
Reductions for tax positions related to prior years	​	​	(9)	​	​	—	​
Additions based on tax positions related to the current year	​	​	2	​	​	—	​
Reductions related to a lapse in the statute of limitations	​	​	(12)	​	​	(9)	​
Balance at December 31	​	$	29	​	$	46	​

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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 income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for 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 and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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