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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Domestic |  | $ | 249 |  |  | $ | 113 |  |  | $ | (257 | )
Foreign |  |  | 363 |  |  |  | 125 |  |  |  | 27 |
|  | $ | 612 |  |  | $ | 238 |  |  | $ | (230 | )
Components of Provision (Benefit) for Income Taxes | The components of the provision (benefit) for income taxes consisted of (in millions):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | (4 | ) |  | $ | (1 | ) |  | $ | 4 |
State |  |  | 2 |  |  |  | — |  |  |  | (1 | )
Foreign |  |  | 118 |  |  |  | 86 |  |  |  | 23 |
Total current income tax provision |  |  | 116 |  |  |  | 85 |  |  |  | 26 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (252 | ) |  |  | 3 |  |  |  | (1 | )
State |  |  | (47 | ) |  |  | — |  |  |  | — |
Foreign |  |  | (190 | ) |  |  | (5 | ) |  |  | (10 | )
Total deferred income tax provision |  |  | (489 | ) |  |  | (2 | ) |  |  | (11 | )
Total income tax provision (benefit) |  | $ | (373 | ) |  | $ | 83 |  |  | $ | 15 |
Difference Between Effective Tax Rate | The difference between the effective tax rate reflected in the provision (benefit) for income taxes and the U.S. federal statutory rate was as follows (in millions):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Federal income tax at U.S. statutory rate |  | $ | 129 |  |  | $ | 50 |  |  | $ | (48 | )
Foreign income tax rate differential |  |  | 3 |  |  |  | 1 |  |  |  | (9 | )
Change in deferred tax valuation allowance |  |  | (564 | ) |  |  | 24 |  |  |  | 31 |
Nondeductible expenses |  |  | 18 |  |  |  | 18 |  |  |  | 17 |
Foreign inclusions, net of foreign tax credits |  |  | 5 |  |  |  | (4 | ) |  |  | 38 |
Change in uncertain tax positions |  |  | 12 |  |  |  | 4 |  |  |  | 13 |
Withholding taxes |  |  | 30 |  |  |  | 31 |  |  |  | 16 |
Income tax credits |  |  | (8 | ) |  |  | (5 | ) |  |  | (11 | )
Other |  |  | 2 |  |  |  | (36 | ) |  |  | (32 | )
Total income tax provision (benefit) |  | $ | (373 | ) |  | $ | 83 |  |  | $ | 15 |
Significant Components of Deferred Tax Assets and Liability | Significant components of our deferred tax assets and liabilities were as follows (in millions):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Allowances and operating liabilities |  | $ | 264 |  |  | $ | 276 |
Net operating loss carryforwards |  |  | 249 |  |  |  | 324 |
Stock Compensation |  |  | 48 |  |  |  | 51 |
Tax credit carryforwards |  |  | 301 |  |  |  | 292 |
Other |  |  | 121 |  |  |  | 119 |
Valuation allowance |  |  | (346 | ) |  |  | (920 | )
Total deferred tax assets |  |  | 637 |  |  |  | 142 |
Deferred tax liabilities: |  |  |  |  |  |
Tax over book depreciation |  |  | 43 |  |  |  | 49 |
Capital leases |  |  | 67 |  |  |  | 73 |
Intangible assets |  |  | 39 |  |  |  | 34 |
Deferred income |  |  | 24 |  |  |  | 16 |
Accrued tax on unremitted earnings |  |  | 38 |  |  |  | 32 |
Other |  |  | 8 |  |  |  | 6 |
Total deferred tax liabilities |  |  | 219 |  |  |  | 210 |
Net deferred tax asset (liability) |  | $ | 418 |  |  | $ | (68 | )
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):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Unrecognized tax benefit at beginning of year |  | $ | 62 |  |  | $ | 60 |  |  | $ | 57 |
Gross increase for tax position in current year |  |  | 18 |  |  |  | — |  |  |  | — |
Gross increase for tax positions in prior years |  |  | 1 |  |  |  | 9 |  |  |  | 8 |
Gross decrease for tax positions in prior years |  |  | (3 | ) |  |  | (1 | ) |  |  | (1 | )
Cash Settlements |  |  | (4 | ) |  |  | (1 | ) |  |  | (1 | )
Lapse of statute of limitations |  |  | (7 | ) |  |  | (5 | ) |  |  | (3 | )
Unrecognized tax benefit at end of year |  | $ | 67 |  |  | $ | 62 |  |  | $ | 60 |
Summary of Net Operating Loss Carryforwards | Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2023 were as follows (in millions):
|  | Federal |  |  | State |  |  | Foreign |  |  | Total |
2024 - 2028 Expiration |  | $ | — |  |  | $ | 9 |  |  | $ | 51 |  |  | $ | 60 |
2029 - 2043 Expiration |  |  | 13 |  |  |  | 344 |  |  |  | 212 |  |  |  | 569 |
Unlimited Expiration |  |  | 41 |  |  |  | — |  |  |  | 546 |  |  |  | 587 |
Total Net Operating Loss (NOL) |  | $ | 54 |  |  | $ | 353 |  |  | $ | 809 |  |  | $ | 1,216 |
Tax Effected NOL |  | $ | 11 |  |  | $ | 24 |  |  | $ | 214 |  |  | $ | 249 |

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