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Income Taxes (Tables)

12 Months Ended

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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