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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income taxes were as follows (in millions):

		Years Ended December 31,
		2019				2018				2017
Domestic		$	(4,501	)		$	(168	)		$	(470	)
Foreign			(1,961	)			209				78
		$	(6,462	)		$	41			$	(392	)

Components of Provision for Income Taxes

The components of the provision for income taxes consisted of (in millions):

		Years Ended December 31,
		2019				2018				2017
Current:
Federal		$	(7	)		$	(5	)		$	23
State			4				(3	)			1
Foreign			60				134				161
Total current income tax provision			57				126				185
Deferred:
Federal			(344	)			11				(332	)
State			(18	)			-				(2	)
Foreign			(64	)			(74	)			(7	)
Total deferred income tax provision			(426	)			(63	)			(341	)
Total income tax provision		$	(369	)		$	63			$	(156	)

Difference Between Effective Tax Rate

The difference between the effective tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows (in millions):

		Years Ended December 31,
		2019				2018				2017
Federal income tax at U.S. statutory rate		$	(1,357	)		$	9			$	(137	)
Foreign income tax rate differential			(40	)			(3	)			(21	)
Goodwill impairment			666				—				—
Nondeductible expenses			61				20				38
Foreign dividends, net of foreign tax credits			163				27				(132	)
Tax rate change on timing differences			1				(7	)			(245	)
Change in uncertain tax positions			(60	)			(5	)			81
Prior years taxes			3				(13	)			(26	)
Tax impact on foreign exchange			(2	)			(3	)			5
Change in deferred tax valuation allowance			218				49				280
State income taxes - net of federal benefit			(16	)			(3	)			(1	)
Tax exempt income			(6	)			(5	)			—
Income tax credits			—				(3	)			(4	)
Other			—				—				6
Total income tax provision		$	(369	)		$	63			$	(156	)

Significant Components of Deferred Tax Assets and Liability

Significant components of our deferred tax assets and liabilities were as follows (in millions):

		December 31,
		2019				2018
Deferred tax assets:
Allowances and operating liabilities		$	395			$	293
Net operating loss carryforwards			270				182
Stock Compensation			69				66
Tax credit carryforwards			702				768
Other			60				59
Valuation allowance			(1,175	)			(955	)
Total deferred tax assets			321				413
Deferred tax liabilities:
Tax over book depreciation			115				139
Capital leases			86				-
Intangible assets			110				688
Deferred income			65				70
Accrued tax on unremitted earnings			33				17
Other			52				52
Total deferred tax liabilities			461				966
Net deferred tax liability		$	140			$	553

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

		2019				2018				2017
Unrecognized tax benefit at beginning of year		$	98			$	132			$	78
Gross increase for current period tax positions			—				15				10
Gross increase for tax positions in prior years			10				31				64
Gross decrease for tax positions in prior years			(60	)			(10	)			(14	)
Cash Settlements			(3	)			(69	)			—
Lapse of statute of limitations			(7	)			(1	)			(6	)
Unrecognized tax benefit at end of year		$	38			$	98			$	132

Summary of Net Operating Loss Carryforwards

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2019 were as follows (in millions):

		Federal				State				Foreign				Total
2020 - 2024 Expiration		$	6			$	4			$	73			$	83
2025 - 2039 Expiration			30				150				346				526
Unlimited Expiration			198				—				406				604
Total Net Operating Loss (NOL)		$	234			$	154			$	825			$	1,213
Tax Effected NOL		$	49			$	9			$	212				270
Valuation Allowance (VA)			(49	)			(9	)			(211	)			(269	)
Tax Effected NOL Net of VA		$	—			$	—			$	1			$	1

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