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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Components of income tax expense | Components of income tax expense are as follows (in millions):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current income tax expense: |  |  |  |  |
State income tax | $ | — |  |  | $ | 3 |  |  | $ | 3 |
Canadian federal and provincial income tax | 51 |  |  | 109 |  |  | 63 |
Total current income tax expense | $ | 51 |  |  | $ | 112 |  |  | $ | 66 |
Deferred income tax expense/(benefit): |  |  |  |  |
Federal income tax | $ | (149) |  |  | $ | 89 |  |  | $ | 90 |
State income tax | 1 |  |  | 21 |  |  | 14 |
Canadian federal and provincial income tax | (70) |  |  | (46) |  |  | 132 |
Total deferred income tax expense/(benefit) | $ | (218) |  |  | $ | 64 |  |  | $ | 236 |
Total income tax expense/(benefit) | $ | (167) |  |  | $ | 176 |  |  | $ | 302 |
Summary of differences between income tax expense based on the statutory federal income tax rate and the effective income tax expense | The difference between income tax expense based on the statutory federal income tax rate and our effective income tax expense is summarized as follows (in millions):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Income/(loss) before tax | $ | (2,607) |  |  | $ | 2,238 |  |  | $ | 2,409 |
Net (income)/loss attributable to noncontrolling interests | 1,872 |  |  | (1,731) |  |  | (1,773) |
Income taxes attributable to noncontrolling interests | 19 |  |  | (66) |  |  | (198) |
| $ | (716) |  |  | $ | 441 |  |  | $ | 438 |
Federal statutory income tax rate | 21 | % |  | 21 | % |  | 21 | %
Income tax expense/(benefit) at statutory rate | $ | (150) |  |  | $ | 93 |  |  | $ | 92 |
Deferred tax rate adjustment | 11 |  |  | 10 |  |  | 3 |
State income tax, net of federal benefit | (9) |  |  | 7 |  |  | 9 |
Income taxes attributable to noncontrolling interests: |  |  |  |  |
Canadian federal and provincial income tax | (19) |  |  | 63 |  |  | 195 |
State income tax | — |  |  | 3 |  |  | 3 |
Total income tax expense/(benefit) | $ | (167) |  |  | $ | 176 |  |  | $ | 302 |
Deferred tax assets and liabilities | Deferred tax assets and liabilities are aggregated by the applicable tax paying entity and jurisdiction and result from the following (in millions):
| December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Investment in partnerships | $ | 917 |  |  | $ | 874 |
Net operating losses | 527 |  |  | 406 |
Derivative instruments | 45 |  |  | — |
Lease liabilities | 39 |  |  | 55 |
Other | 16 |  |  | 16 |
Total deferred tax assets | 1,544 |  |  | 1,351 |
Deferred tax liabilities: |  |  |
Property and equipment in excess of tax values | (475) |  |  | (472) |
Derivative instruments | — |  |  | (22) |
Lease assets | (38) |  |  | (53) |
Other | (3) |  |  | (5) |
Total deferred tax liabilities | (516) |  |  | (552) |
Net deferred tax assets | $ | 1,028 |  |  | $ | 799 |
Balance sheet classification of deferred tax assets/(liabilities): |  |  |
Deferred tax asset | $ | 1,444 |  |  | $ | 1,280 |
Other long-term liabilities and deferred credits | (416) |  |  | (481) |
| $ | 1,028 |  |  | $ | 799 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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