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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income before Income Taxes

The components of income before income taxes for the periods were as follows (in millions):

			Years Ended December 31,
			2024						2023						2022
Domestic			$	302					$	443					$	426
Foreign			(11)						4						8
Income before income taxes			$	291					$	447					$	434

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

			Years Ended December 31,
			2024						2023						2022
Current:
Federal			$	8					$	—					$	—
Foreign			4						4						5
State and local			9						7						15
Total current			21						11						20
Deferred:
Federal			63						86						82
Foreign			(6)						(1)						—
State and local			2						4						2
Total deferred			59						89						84
Total income tax provision			$	80					$	100					$	104

Schedule of U.S. and Foreign Net Deferred Tax Assets (Liabilities)

The principal items of the U.S. and foreign net deferred tax assets (liabilities) are as follows (in millions):

			December 31, 2024						December 31, 2023
Deferred tax assets:
Employee benefit plans			$	4					$	6
Tax credit carryforwards			5						3
Right-of-use assets			230						185
Deferred interest			80						58
Accrued expenses			59						55
Net operating loss carryforwards			42						108
Total deferred tax assets			420						415
Less: valuation allowance			(5)						(2)
Total net deferred tax assets			415						413
Deferred tax liabilities:
Lease liabilities			(218)						(179)
Prepaid expenses			(4)						(3)
Depreciation on tangible assets			(913)						(899)
Intangible assets			(80)						(75)
Total deferred tax liabilities			(1,215)						(1,156)
Net deferred tax liability			$	(800)					$	(743)

Schedule of Statutory Federal Income Tax Rate to Income Before Income Taxes

The income tax in the accompanying consolidated statements of operations differs from the income tax calculated by applying the statutory federal income tax rate to income before income taxes due to the following (in millions):

			Years Ended December 31,
			2024						2023						2022
Income tax provision at statutory rate			$	61					$	93					$	91
Increases (decreases) resulting from:
Foreign taxes			—						5						—
State and local income taxes, net of federal income tax			9						10						14
Federal and foreign permanent items			2						(1)						(1)
Change in valuation allowance			—						(2)						—
Goodwill impairment(a)			14						—						—
Tax credits			(6)						(6)						(1)
All other items, net			—						1						1
Income tax provision			$	80					$	100					$	104

(a) Relates to non-deductible goodwill impairment on Cinelease assets held for sale.

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
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