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Income Taxes (Tables)

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate

A reconciliation of U.S. statutory federal income tax expense to income tax expense follows:

			3ME March 31,
(In millions)			2024						2023
U.S statutory federal income tax expense			$	19					$	(21)
Increase (decrease) in taxes resulting from:
State and local income taxes, net of federal income tax effects			1						(3)
Valuation allowance, net			(4)						52
Foreign tax impacts			7						8
Noncontrolling interest			4						5
Sale of AMECO South America			—						(10)
Reserve for uncertain tax positions			17						—
Other adjustments			7						(1)
Total income tax expense			$	51					$	30

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- References

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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
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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