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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of provision for income tax benefit (expense) | Our income tax benefit (expense) consisted of the following for the years ended December 31 (in millions):
|  | 2024 |  | 2023 |  | 2022
Deferred: |  |  |  |  |  |
Federal |  | $ | 93 |  |  | $ | 43 |  |  | $ | 86 |
State |  | 28 |  |  | 6 |  |  | (13) |
Foreign |  | (11) |  |  | (22) |  |  | — |
Deferred income tax benefit |  | 110 |  |  | 27 |  |  | 73 |
Current: |  |  |  |  |  |
Federal |  | — |  |  | 1 |  |  | 3 |
State |  | — |  |  | 1 |  |  | — |
Foreign |  | (8) |  |  | (5) |  |  | (1) |
Current income tax benefit (expense) |  | (8) |  |  | (3) |  |  | 2 |
Total income tax benefit |  | $ | 102 |  |  | $ | 24 |  |  | $ | 75 |
Schedule of income taxes differed from the federal income tax statutory rate | Our income tax benefit reconciles to the amount computed below by applying the U.S. federal statutory income tax rate to our loss before income taxes for the years ended December 31 as follows (in millions):
|  | 2024 |  | 2023 |  | 2022
Income tax benefit at statutory rate |  | $ | 188 |  |  | $ | 70 |  |  | $ | 92 |
State income tax, net of federal benefit |  | 28 |  |  | 7 |  |  | (13) |
Nondeductible expenses |  | (13) |  |  | (14) |  |  | (8) |
Foreign rate differential |  | 1 |  |  | — |  |  | (4) |
Valuation allowance |  | (108) |  |  | (49) |  |  | 2 |
Unrecognized tax benefit (expense) |  | — |  |  | — |  |  | 3 |
Research & Development tax credits |  | (1) |  |  | 11 |  |  | — |
Foreign income tax deduction |  | 12 |  |  | — |  |  | — |
Other, net |  | (5) |  |  | (1) |  |  | 3 |
Total income tax benefit |  | $ | 102 |  |  | $ | 24 |  |  | $ | 75 |
Schedule of deferred tax assets and deferred liabilities | The components of our deferred tax assets and liabilities as of December 31 are as follows (in millions):
|  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Deferred revenue/gains |  | 242 |  |  | 220 |
Employee benefits |  | 106 |  |  | 95 |
Foreign tax credit |  | 44 |  |  | 90 |
Other credits |  | 13 |  |  | 15 |
Net operating loss carryforward |  | 1,082 |  |  | 914 |
Interest expense limitation carryforward |  | 110 |  |  | 50 |
Operating lease liabilities |  | 145 |  |  | 161 |
Rent expense |  | 12 |  |  | 18 |
Transaction costs |  | — |  |  | 25 |
Capital loss carryforward |  | 125 |  |  | — |
Sec. 174 research activities |  | 34 |  |  | 27 |
Other |  | 18 |  |  | 16 |
Total deferred tax assets |  | 1,931 |  |  | 1,631 |
Valuation allowance |  | (238) |  |  | (153) |
Deferred tax assets, net |  | 1,693 |  |  | 1,478 |
Deferred tax liabilities: |  |  |  |
Property and equipment |  | (2,168) |  |  | (2,049) |
Operating lease assets |  | (131) |  |  | (143) |
Other |  | (27) |  |  | (29) |
Total deferred tax liabilities |  | (2,326) |  |  | (2,221) |
Net deferred tax liability |  | $ | (633) |  |  | $ | (743) |
Schedule of reconciliation of the 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):
|  | 2024 |  | 2023 |  | 2022
Unrecognized tax benefits at January 1, |  | $ | 25 |  |  | $ | 26 |  |  | $ | 40 |
Increases for tax positions taken during the period |  | 8 |  |  | — |  |  | 5 |
Decreases for tax positions taken during the period |  | (1) |  |  | (5) |  |  | (6) |
Increases for tax positions taken during a prior period |  | — |  |  | 5 |  |  | — |
Decreases for tax positions taken during a prior period |  | (1) |  |  | (1) |  |  | (13) |
Unrecognized tax benefits December 31, |  | $ | 31 |  |  | $ | 25 |  |  | $ | 26 |

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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://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 + Details
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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 + 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://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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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