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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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):

		Year Ended December 31,
		2022				2021				2020
Domestic		$	113			$	(257	)		$	(2,169	)
Foreign			125				27				(610	)
		$	238			$	(230	)		$	(2,779	)

Components of Provision for Income Taxes

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

		Year Ended December 31,
		2022				2021				2020
Current:
Federal		$	(1	)		$	4			$	(279	)
State			-				(1	)			(4	)
Foreign			86				23				106
Total current income tax provision			85				26				(177	)
Deferred:
Federal			3				(1	)			7
State			—				—				—
Foreign			(5	)			(10	)			(72	)
Total deferred income tax provision			(2	)			(11	)			(65	)
Total income tax provision		$	83			$	15			$	(242	)

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):

		Year Ended December 31,
		2022				2021				2020
Federal income tax at U.S. statutory rate		$	50			$	(48	)		$	(584	)
Foreign income tax rate differential			1				(9	)			(30	)
Goodwill impairment			—				—				271
Reduction of FTC carryforwards			—				—				184
Tax Benefit from CARES Act			—				—				(83	)
Change in deferred tax valuation allowance			24				31				(83	)
Nondeductible expenses			18				17				44
Foreign dividends, net of foreign tax credits			27				54				28
Change in uncertain tax positions			4				13				20
State income taxes - net of federal benefit			—				(1	)			(4	)
Income tax credits			(5	)			(11	)			—
Other			(36	)			(31	)			(5	)
Total income tax provision		$	83			$	15			$	(242	)

Significant Components of Deferred Tax Assets and Liability

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

		December 31,
		2022				2021
Deferred tax assets:
Allowances and operating liabilities		$	276			$	297
Net operating loss carryforwards			324				446
Stock Compensation			51				56
Tax credit carryforwards			292				398
Other			119				135
Valuation allowance			(920	)			(1,127	)
Total deferred tax assets			142				205
Deferred tax liabilities:
Tax over book depreciation			49				56
Capital leases			73				76
Intangible assets			34				52
Deferred income			16				51
Accrued tax on unremitted earnings			32				33
Other			6				3
Total deferred tax liabilities			210				271
Net deferred tax liability		$	68			$	66

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):

		2022				2021				2020
Unrecognized tax benefit at beginning of year		$	60			$	57			$	38
Gross increase for tax positions in prior years			9				8				25
Gross decrease for tax positions in prior years			(1	)			(1	)			(2	)
Cash Settlements			(1	)			(1	)			(1	)
Lapse of statute of limitations			(5	)			(3	)			(3	)
Unrecognized tax benefit at end of year		$	62			$	60			$	57

Summary of Net Operating Loss Carryforwards

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2022 were as follows (in millions):

		Federal				State				Foreign				Total
2023 - 2027 Expiration		$	15			$	4			$	63			$	82
2028 - 2042 Expiration			16				425				314				755
Unlimited Expiration			320				—				498				818
Total Net Operating Loss (NOL)		$	351			$	429			$	875			$	1,655
Tax Effected NOL		$	74			$	28			$	222			$	324

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