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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit) included in Consolidated Statement of Earnings from continuing operations

The income tax expense (benefit) components recognized in Cont Ops follow:

			Year Ended December 31,
(in millions)			2022						2021						2020
Current:
Federal (a)			$	1					$	1					$	(122)
Foreign			148						47						141
State and local			5						(5)						5
Total current			154						43						24
Deferred:
Federal			—						—						18
Foreign			17						(23)						(19)
State and local			—						—						—
Total deferred			17						(23)						(1)
Total income tax expense			$	171					$	20					$	23

(a)    We have filed a claim with the IRS and expect to receive a refund of $145 million in 2023, of which $72 million relates to the CARES Act.

Schedule of reconciliation of U.S. statutory federal income tax expense to income tax expense

A reconciliation of U.S. statutory federal income tax expense (benefit) to income tax expense (benefit) from Cont Ops follows:

			Year Ended December 31,
(in millions)			2022						2021						2020
U.S. statutory federal tax expense (benefit)			$	51					$	(73)					$	(58)
Increase (decrease) in taxes resulting from:
State and local income taxes			—						12						(12)
Goodwill Impairment			10						36						—
NCI			15						(7)						(9)
Foreign tax differential, net			(106)						(11)						38
Valuation allowance, net			194						103						167
Other changes to uncertain tax positions			—						1						7
Stranded tax effects from AOCI			—						(52)						—
CARES Act benefit			2						2						(125)
Other, net			5						9						15
Total income tax expense			$	171					$	20					$	23

Schedule of tax effects of significant temporary differences giving rise to deferred tax assets and liabilities

The tax effects of significant temporary differences giving rise to deferred tax assets and liabilities are as follows:

			December 31,
(in millions)			2022						2021
Deferred tax assets:
Accrued liabilities not currently deductible:
Employee compensation and benefits			$	107					$	138
Project and non-project reserves			33						68
Net operating loss carryforward			397						347
Tax basis of investment in excess of book basis, net			66						144
U.S. foreign tax credit carryforward			567						456
AOCI			21						27
Other			57						27
Total deferred tax assets			1,248						1,207
Valuation allowance			(1,211)						(1,115)
Deferred tax assets, net			$	37					$	92
Deferred tax liabilities:
Book basis of property and equipment in excess of tax basis			(10)						(31)
Dividend withholding on unremitted non-U.S. earnings			(46)						(55)
Other			(20)						(22)
Total deferred tax liabilities			(76)						(108)
Deferred tax assets, net of deferred tax liabilities			$	(39)					$	(16)

Summary of Tax Credit Carryforwards

As of December 31, 2022, tax credit carryforwards, principally federal, and tax loss carryforwards, principally federal, state, and foreign, were as follows:

(in millions)			Federal FTC						Federal NOLs						State NOLs						Foreign NOLs
Expiration periods:
2023-2027			$	21					$	—					$	8					$	25
2028-2032			462						—						68						54
2033-2042			84						—						266						5
Indefinite			—						217						314						1,171

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

A summary of unrecognized tax benefits follows:

(in millions)			2022						2021
Balance at beginning of year			$	48					$	48
Change in tax positions of prior years			1						—
Change in tax positions of current year			—						—
Reduction in tax positions for statute expirations			—						—
Reduction in tax positions for audit settlements			—						—
Balance at end of year			$	49					$	48

Schedule of U.S. and foreign earnings from continuing operations before taxes

U.S. and foreign earnings (loss) from Cont Ops before taxes are as follows:

			Year Ended December 31,
(in millions)			2022						2021						2020
United States			$	(465)					$	(394)					$	(269)
Foreign			709						48						(9)
Total			$	244					$	(346)					$	(278)

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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.

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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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Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances.

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