The following table sets forth the components of the Company’s provision for (benefit from) income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Current tax expense (benefit):
U.S. federal	$	4		$	13		$	23
U.S. state and local		1			(1	)		4
International		75			79			110
Total current tax expense		80			91			137
Deferred tax expense (benefit):
U.S. federal		(86	)		(77	)		20
U.S. state and local		(12	)		(5	)		3
International		(22	)		(81	)		(1	)
Total deferred tax (benefit) expense		(120	)		(163	)		22
Total (benefit from) provision for income taxes	$	(40	)	$	(72	)	$	159

The following table sets forth the components of the Company’s deferred tax assets and liabilities at December 31, 2020 and 2019.

	December 31,
	2020			2019
Deferred tax assets:
Environmental and other liabilities	$	103		$	99
Accrued litigation		21			37
Stock-based compensation and accrued employee benefits		50			29
Other assets and other accrued liabilities		43			19
Tax attribute carryforwards		134			96
Operating lease liability		60			75
Foreign tax credit carryforwards		7			18
Total deferred tax assets		418			373
Less: Valuation allowance		(24	)		(10	)
Total deferred tax assets, net		394			363
Deferred tax liabilities:
Pension and other liabilities		(12	)		(7	)
Property, plant, and equipment		(258	)		(320	)
Operating lease asset		(56	)		(71	)
Inventories and other assets		(8	)		(43	)
Total deferred tax liabilities		(334	)		(441	)
Deferred tax assets (liabilities), net	$	60		$	(78	)

The following table sets forth an analysis of the Company’s effective tax rates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020						2019						2018
	$			%			$			%			$			%
Statutory U.S. federal income tax rate	$	38			21.0	%	$	(26	)		21.0	%	$	243			21.0	%
State income taxes, net of federal benefit		(11	)		(6.1	)%		(7	)		5.6	%		7			0.6	%
Lower effective tax rate on international operations, net		(34	)		(19.0	)%		(28	)		22.7	%		(44	)		(3.8	)%
Depletion		(6	)		(3.4	)%		(5	)		4.0	%		(6	)		(0.5	)%
Exchange gains		—			—	%		(7	)		5.6	%		(4	)		(0.3	)%
Provision to return and other adjustments		(37	)		(20.6	)%		(4	)		3.2	%		(9	)		(0.8	)%
Valuation allowance		13			7.3	%		8			(6.5	)%		(15	)		(1.3	)%
Net impact of U.S. tax reform		—			—	%		—			—	%		(10	)		(0.9	)%
Stock-based compensation		—			—	%		(14	)		11.4	%		(14	)		(1.2	)%
Executive compensation limitation		1			0.6	%		9			(7.3	)%		4			0.3	%
R&D credit		(7	)		(3.8	)%		(6	)		4.8	%		(5	)		(0.4	)%
Uncertain tax positions		(1	)		(0.5	)%		7			(5.6	)%		2			0.2	%
Other, net		4			2.2	%		1			(0.8	)%		10			0.9	%
Total effective tax rate	$	(40	)		(22.3	)%	$	(72	)		58.1	%	$	159			13.8	%

The following table sets forth the Company’s income (loss) before income taxes for its U.S. and international operations for the years ended December 31, 2020, 2019, and 2018.

With respect to U.S. tax reform, while management has completed its analysis within the applicable measurement period, pursuant to Staff Accounting Bulletin No. 118 as issued by the SEC, the Company accounts for the tax impacts of new provisions based on interpretation of existing statutory law, including proposed regulations issued by the U.S. Treasury and the Internal Revenue Service (“IRS”). While there can be no assurances as to the effect of any final regulations on the Company’s provision for (benefit from) income taxes, management will continue to evaluate the impacts as any issued regulations become final and adjust our estimates, as appropriate.

Management believes there is sufficient liquidity available in the U.S. As a result, management asserts that it is indefinitely reinvested with respect to all undistributed earnings prior to 2018 and, therefore, has not recorded deferred tax liabilities with respect to those earnings. Beginning in 2018, management determined that the Company’s earnings from certain foreign subsidiaries are not indefinitely reinvested and presumed such earnings will be distributed to the U.S. At December 31, 2020 and 2019, deferred tax liabilities for the foreign subsidiaries that are not indefinitely reinvested were not material to the Company’s consolidated financial statements. The potential tax implications of the repatriation of unremitted earnings are driven by the facts at the time of distribution; however, due to U.S. tax reform and the U.S. Transition Tax, the incremental cost to repatriate earnings is not expected to be material. At December 31, 2020, the amount of unremitted earnings where the Company is indefinitely reinvested was approximately $619.

In the United States, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed on March 27, 2020. This legislative relief, as well as other government relief programs, include measures that could impact direct and indirect tax provisions. Management has analyzed the relief in jurisdictions in which the Company operates, and the applicable impacts, which are not material to the Company’s benefit from income taxes for the year ended December 31, 2020.

For the year ended December 31, 2020, the Company recorded $12 of valuation allowance on certain foreign subsidiary net deferred tax assets and $2 of valuation allowance on certain foreign tax credits. For the year ended December 31, 2019, the Company recorded $5 of valuation allowance on certain foreign subsidiary net deferred tax assets and $3 of valuation allowance on certain foreign tax credits.

Under the tax laws of various jurisdictions in which the Company operates, deductions or credits that cannot be fully utilized for tax purposes during the current year may be carried forward or back, subject to statutory limitations, to reduce taxable income or taxes payable in future or prior years. At December 31, 2020, the Company’s U.S federal and state tax losses amounted to $10, which substantially expire between 2036 and 2039. The Company has $31 in R&D tax credits, which expire between 2035 and 2040, foreign net operating losses of $12, which expire between 2026 and 2030, and $7 of certain foreign tax credits, which expire between 2025 and 2030.

Each year, Chemours and/or its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and non-U.S. jurisdictions.

The following table sets forth the Company’s significant jurisdictions’ tax returns that are subject to examination by their respective taxing authorities for the open years listed.

Positions challenged by the taxing authorities may be settled or appealed by Chemours and/or EID in accordance with the tax matters agreement. As a result, income tax uncertainties are recognized in the Company’s consolidated financial statements in accordance with accounting for income taxes, when applicable.

The following table sets forth the change in the Company’s unrecognized tax benefits for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019		2018
Balance at January 1,	$	9		$	2	$	—
Gross amounts of decreases in unrecognized tax benefits as a result of adjustments to tax provisions taken during the prior period		(2	)		—		—
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken during the current period		1			7		2
Reduction to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(1	)		—		—
Balance at December 31,	$	7		$	9	$	2

Total unrecognized tax benefits, if recognized, that would impact the effective tax rate	$	8		$	9	$	2
Total amount of interest and penalties recognized in the consolidated statements of operations		1			—		—
Total amount of interest and penalties recognized in the consolidated balance sheets		1			—		—

The following table sets forth a rollforward of the Company’s deferred tax asset valuation allowance for the years ended December 31, 2020, 2019, and 2018.