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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of pre-tax income (loss) for domestic and foreign operations

The components of pretax income for domestic and foreign operations consisted of the following:

			Year Ended December 31,
			2021						2020						2019
Domestic			$	486					$	(449)					$	(171)
Foreign			(3)						(11)						—
Pretax income (loss)			$	483					$	(460)					$	(171)

Schedule of income tax provision

The components of income tax expense (benefit) consisted of the following:

			Year Ended December 31,
			2021						2020						2019
Current:
Federal			$	29					$	(5)					$	3
State			30						13						7
Foreign			2						2						1
Total current			61						10						11
Deferred:
Federal			70						(66)						4
State			2						(48)						(1)
Foreign			—						—						—
Total deferred			72						(114)						3
Income tax expense (benefit)			$	133					$	(104)					$	14

Schedule of effective income tax rate

A reconciliation of the Company’s effective income tax rate at the U.S. federal statutory rate of 21% to the actual expense was as follows:

			Year Ended December 31,
			2021						2020						2019
Federal statutory rate			21		%				21		%				21		%
State and local income taxes, net of federal tax benefits			6						3						6
Discontinued operations—establishment/reversal of deferred tax liability (a)			—						10						(26)
Non-deductible equity compensation			1						(2)						(4)
Non-deductible executive compensation			1						(1)						(1)
Goodwill impairment			—						(7)						(3)
Meals & entertainment			—						—						(1)
Net change in valuation allowance			—						(1)						—
Other permanent differences			(1)						—						—
Effective tax rate			28		%				23		%				(8)		%

_______________

(a)This item reflects the tax impact from the 2019 recognition of gain on the pending sale of Cartus Relocation Services (previously recorded in discontinued operations) and the 2020 de-recognition of that gain.

Schedule of deferred income tax assets and liabilities

Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes. The components of the deferred income tax assets and liabilities are as follows:

			December 31,
			2021						2020
Deferred income tax assets:
Net operating loss carryforwards			$	45					$	124
Tax credit carryforwards			27						26
Accrued liabilities and deferred income			91						88
Operating leases			147						151
Minimum pension obligations			15						19
Provision for doubtful accounts			9						9
Liability for unrecognized tax benefits			1						1
Interest rate swaps			12						21
Other			2						—
Total deferred tax assets			349						439
Less: valuation allowance			(20)						(21)
Total deferred income tax assets after valuation allowance			329						418
Deferred income tax liabilities:
Depreciation and amortization			546						553
Operating leases			119						119
Prepaid expenses			9						9
Basis difference in investment in joint ventures			7						11
Other			1						1
Total deferred tax liabilities			682						693
Net deferred income tax liabilities			$	(353)					$	(275)

Schedule of the rollforward of unrecognized tax benefits

The rollforward of unrecognized tax benefits are summarized in the table below:

Unrecognized tax benefits—January 1, 2019			$	20
Gross increases—tax positions in prior periods			1
Reduction due to lapse of statute of limitations			(1)
Unrecognized tax benefits—December 31, 2019			20
Reduction due to lapse of statute of limitations			(1)
Unrecognized tax benefits—December 31, 2020			19
Settlements			(1)
Reduction due to lapse of statute of limitations			(1)
Unrecognized tax benefits—December 31, 2021			$	17

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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.

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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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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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