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Income Taxes (Tables)

12 Months Ended

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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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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.

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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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.

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-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of the change in unrecognized tax benefits.

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