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Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Federal and State Components of Income Tax Expense (Benefit)

The components of the federal and state income tax expense (benefit) are summarized as follows:

			Year Ended December 31,
			2023						2022						2021
Current:
Federal			$	16					$	—					$	15
State			7						(2)						5
Total current income tax expense (benefit)			23						(2)						20
Deferred:
Federal			9						24						7
State			4						4						3
Total deferred tax expense			13						28						10
Income tax expense			$	36					$	26					$	30

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense at the U.S. federal statutory rate to net income tax expense is as follows:

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Income tax expense at United States statutory rate			$	90					$	105					$	116
Increase (reduction) in income taxes resulting from:
Partnership earnings not subject to tax			(64)						(74)						(96)
State and local tax, including federal expense			10						1						7
Other			—						(6)						3
Income tax expense			$	36					$	26					$	30

Schedule of Principal Components of Deferred Tax Assets (Liabilities)

Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. Principal components of deferred tax assets and liabilities were as follows:

			December 31, 2023						December 31, 2022
Deferred tax assets:
Net operating and other loss carry forwards			$	3					$	3
Other			21						22
Total deferred tax assets			24						25
Deferred tax liabilities:
Property and equipment			55						52
Trademarks and other intangibles			91						89
Investments in unconsolidated affiliates			44						39
Other			—						1
Total deferred tax liabilities			190						181
Net deferred income tax liabilities			$	166					$	156

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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://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

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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://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
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