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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income (Loss) From Continuing Operations Before Income Taxes
Income (loss) before income taxes is comprised of the following:
Year Ended December 31,
202220212020
United Kingdom$(130)$(16)$(12)
International438 390 126 
Income before income taxes$308 $374 $114 
Income Tax (Provision) Benefit The income tax (provision) benefit is summarized below:
Year Ended December 31,
202220212020
United Kingdom:
Current$— $(1)$(1)
Deferred— — (10)
International:
Current(69)(55)(17)
Deferred261 (15)909 
Income tax benefit (provision)$192 $(71)$881 
Effective Income Tax Rate Reconciliation The following table reconciles the applicable statutory income tax rates to our effective income tax rates for “Income tax (provision) benefit” as reflected in the Consolidated Statements of Income.
Year Ended December 31,
202220212020
Statutory tax rate19 %19 %19 %
Increases (decreases) resulting from:
Tax rate differences9 7 10 
Disallowable expenditures8 2 17 
Valuation allowances(100)(27)(849)
Corporate reorganization— 17 (96)
Tax rate changes(3)2 (8)
State and local taxes1 1 5 
Prior year accruals— (2)131 
Branch taxation— — — 
Withholding taxes2 2 — 
Tax credits— (2)(2)
Expiration of net operating loss2 — — 
Other, net— — — 
Effective tax rate(62)%19 %(773)%
Net Deferred Tax Assets (Liabilities) Net deferred tax assets (liabilities) at December 31, 2022 and 2021 were comprised of the following:
December 31,
20222021
Deferred tax assets:
Net operating loss and other carryforwards$1,739 $1,720 
Property, plant and equipment, net200 220 
Reserves for environmental remediation and restoration47 43 
Obligations for pension and other employee benefits46 58 
Investments4 4 
Grantor trusts621 636 
Inventories, net6 8 
Interest190 214 
Lease liabilities 48 23 
Other accrued liabilities 2 3 
Foreign exchange1 9 
Other5 7 
Total deferred tax assets2,909 2,945 
Valuation allowance associated with deferred tax assets(1,527)(1,841)
Net deferred tax assets1,382 1,104 
Deferred tax liabilities:
Inventories, net(3)(5)
Property, plant and equipment, net(228)(216)
Intangible assets, net(15)(22)
Lease assets(38)(24)
Foreign exchange (4)(1)
Other(14)(8)
Total deferred tax liabilities(302)(276)
Net deferred tax asset$1,080 $828 
Balance sheet classifications:
Deferred tax assets — long-term$1,233 $985 
Deferred tax liabilities — long-term$(153)$(157)
Net deferred tax asset$1,080 $828 
Changes in Valuation Allowance by Jurisdiction The table below sets forth the changes, by jurisdiction:
December 31,
20222021
United Kingdom$13 $(1)
United States(5)(19)
Australia(314)(43)
The Netherlands— (24)
Saudi Arabia— (11)
Brazil — — 
Switzerland(8)— 
Belgium — — 
Total (decrease) increase in valuation allowances$(314)$(98)
Expiration of Tax Loss Carryforwards In the United States, the deferred tax assets generated by tax loss carryforwards are partially offset by a valuation allowance to the extent they are subject to expiration. The expiration of these carryforwards at December 31, 2022 is shown below. The Australian, Saudi Arabian, French, Brazilian and United Kingdom tax loss carryforwards do not expire.
202320242025202620272028 - 2040UnlimitedTotal Tax Loss Carryforwards
United Kingdom $— $— $— $— $— $— $(97)$(97)
Australia— — — — — — (436)(436)
The Netherlands— — — — — — (83)(83)
France— — — — — — (180)(180)
Saudi Arabia— — — — — — (6)(6)
Switzerland (80)— — — — — — (80)
China— — — — (5)— — (5)
Brazil— — — — — — (10)(10)
U.S. Federal— — — — — (3,959)(334)(4,293)
U.S. State(14)(12)(40)(75)(27)(4,060)(19)(4,247)
Total tax loss carryforwards$(94)$(12)$(40)$(75)$(32)$(8,019)$(1,165)$(9,437)