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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of differences between the U.S. federal income tax rate and the company's effective tax rate | Total income tax provision (benefit) differs from the amounts computed by applying the U.S. federal income tax rate to pre-tax income (loss) as follows:
| Successor |  |  | Predecessor
| November 1, 2020 - December 31, 2020 |  |  | January 1, 2020 - October 31, 2020 |  | Years ended December 31,
|  |  |  | 2019 |  | 2018
U.S. federal statutory tax rate | (21) | % |  |  | 21 | % |  | 21 | % |  | 21 | %
State income taxes, net | (7) |  |  |  | 7 |  |  | 7 |  |  | 6 |
Exclusion of income attributable to noncontrolling interests, net | — |  |  |  | (1) |  |  | (35) |  |  | (5) |
Debt restructuring, net | — |  |  |  | (8) |  |  | — |  |  | — |
Changes in tax attributes, net | — |  |  |  | 7 |  |  | (9) |  |  | (6) |
Nondeductible compensation, net | — |  |  |  | — |  |  | 3 |  |  | — |
Change in valuation allowance, net | 27 |  |  |  | (27) |  |  | 14 |  |  | (17) |
Other, net | 1 |  |  |  | 1 |  |  | — |  |  | 1 |
Effective tax rate | — | % |  |  | — | % |  | 1 | % |  | — | %
Tax effects of temporary differences resulting in deferred income taxes | The tax effects of temporary differences resulting in deferred income tax assets and liabilities at December 31, 2020 and 2019 were as follows:
| Successor |  |  | Predecessor
| 2020 |  |  | 2019
(in millions) | Deferred Tax Assets |  | Deferred Tax Liabilities |  |  | Deferred Tax Assets |  | Deferred Tax Liabilities
Debt | $ | 3 |  |  | $ | — |  |  |  | $ | 176 |  |  | $ | — |
Property, plant and equipment | 209 |  |  | (113) |  |  |  | — |  |  | (517) |
Postretirement benefit accruals | 43 |  |  | — |  |  |  | 40 |  |  | — |
Deferred compensation and benefits | 23 |  |  | — |  |  |  | 55 |  |  | — |
Asset retirement obligations | 178 |  |  | — |  |  |  | 155 |  |  | — |
Net operating loss and tax credit carryforwards | 12 |  |  | — |  |  |  | 457 |  |  | — |
Business interest expense carryforward | 180 |  |  | — |  |  |  | 194 |  |  | — |
Investment in partnerships | — |  |  | — |  |  |  | 110 |  |  | — |
Other | 34 |  |  | (20) |  |  |  | 36 |  |  | (60) |
Subtotal | 682 |  |  | (133) |  |  |  | 1,223 |  |  | (577) |
Valuation allowance | (549) |  |  | — |  |  |  | (646) |  |  | — |
Total deferred taxes | $ | 133 |  |  | $ | (133) |  |  |  | $ | 577 |  |  | $ | (577) |
Reconciliation of unrecognized tax benefits | The following is a reconciliation of unrecognized tax benefits in the Predecessor period:
|  |  |  | Predecessor
|  |  |  | January 1, 2020 - October 31, 2020 |  | Years ended December 31,
(in millions) |  |  |  | 2019 |  | 2018
Unrecognized tax benefits – beginning balance |  |  |  | $ | 101 |  |  | $ | 25 |  |  | $ | 25 |
Gross (decreases) increases – tax positions in prior year |  |  |  | (101) |  |  | 44 |  |  | — |
Gross increases – tax positions in current year |  |  |  | — |  |  | 32 |  |  | — |
Unrecognized tax benefits – ending balance |  |  |  | $ | — |  |  | $ | 101 |  |  | $ | 25 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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