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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income taxes were as follows (in millions):

	Year Ended December 31,
	2022				2021				2020
United States	$	108			$	(9	)		$	(289	)
Foreign		31				21				(141	)
Income (loss) before income taxes	$	139			$	12			$	(430	)

Components of the Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes for 2022, 2021 and 2020 consisted of the following (in millions):

	Year Ended December 31,
	2022				2021				2020
U.S. Federal:
Current	$	—			$	—			$	—
Deferred		—				(1	)			—
		—				(1	)			—
U.S. State:
Current		—				—				—
Deferred		—				—				—
		—				—				—
Foreign:
Current		9				7				1
Deferred		1				1				(4	)
		10				8				(3	)
Income tax provision (benefit)	$	10			$	7			$	(3	)

Reconciliation Between Effective Tax Rate

The reconciliation between the Company’s effective tax rate on income (loss) from continuing operations and the statutory tax rate is as follows (in millions):

	Year Ended December 31,
	2022				2021				2020
Income tax provision (benefit) at federal statutory rate	$	29			$	3			$	(90	)
Foreign tax rate differential		1				2				1
State income tax provision (benefit), net of federal benefit		4				(1	)			(4	)
Nondeductible expenses		2				—				2
Nondeductible goodwill impairment		—				—				25
Currency translation losses		2				—				—
Capital loss carryforward		(2	)			—				—
Change in valuation allowance		(28	)			2				61
Other		2				1				2
Income tax provision (benefit)	$	10			$	7			$	(3	)
Effective tax rate		7.2	%			54.8	%			0.6	%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows (in millions):

	December 31,
	2022				2021				2020
Deferred tax assets:
Allowances and operating liabilities	$	6			$	6			$	3
Net operating loss carryforwards		76				92				79
Foreign tax credit carryforwards		7				7				7
Allowance for doubtful accounts		5				4				5
Inventory reserve		9				10				13
Stock-based compensation		5				5				6
Intangible assets		45				57				66
Capital loss carryforward		12				10				11
Tax over book basis in depreciable assets		4				5				5
Lease liabilities		11				9				12
Other		3				3				4
Total deferred tax assets	$	183			$	208			$	211
Deferred tax liabilities:
ROU assets		(10	)			(7	)			(11	)
Other		(1	)			—				—
Total deferred tax liabilities	$	(11	)		$	(7	)		$	(11	)
Net deferred tax assets before valuation allowance		172				201				200
Valuation allowance		(173	)			(201	)			(199	)
Net deferred tax assets (liabilities)	$	(1	)		$	—			$	1

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
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