Annual report pursuant to Section 13 and 15(d)

Income Taxes Income Taxes (Tables)

v3.20.4
Income Taxes Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule Of Impact Of Tax Cuts And Jobs Act Of 2017 The following table presents the impact of the accounting for the enactment of U.S. tax reform on the Company's benefit from income taxes during 2018:
2018
Remeasurement of net deferred income tax and uncertain tax liabilities $ (2)
One-time deemed repatriation tax on undistributed historical earnings of foreign subsidiaries (2)
Total benefit from income taxes impact $ (4)
Schedule of Components of Income Tax Expense (Benefit)
The income tax provision (benefit) consists of the following:
Year Ended December 31,
2020 2019 2018
Current
Federal $ (5) $ 40  $ 34 
State (2) 3  13 
Foreign 4  21  14 
(3) 64  61 
Deferred
Federal (10) (3) 2 
State (8) (10) (2)
Foreign (5) (1) — 
(23) (14) — 
(Benefit from)/provision for income taxes $ (26) $ 50  $ 61 
Schedule of Income before Income Tax, Domestic and Foreign
Pretax income (loss) for domestic and foreign operations consisted of the following:
Year Ended December 31,
2020 2019 2018
Domestic $ (113) $ 175  $ 190 
Foreign (45) 32  33 
Pretax (loss)/income $ (158) $ 207  $ 223 
Schedule of Deferred Tax Assets and Liabilities
Deferred income tax assets and liabilities are comprised of the following:
As of December 31,
2020 2019
Deferred income tax assets:
Accrued liabilities and deferred revenues $ 74  $ 97 
Tax credits (a)
8  6 
Provision for doubtful accounts 9  17 
Net operating loss carryforward (b)
25  18 
Other comprehensive income and other 22  20 
Valuation allowance (c)
(26) (19)
Deferred income tax assets 112  139 
Deferred income tax liabilities:
Depreciation and amortization 446  508 
Other 16  15 
Deferred income tax liabilities 462  523 
Net deferred income tax liabilities $ 350  $ 384 
Reported in:
Other non-current assets $ 9  $ 3 
Deferred income taxes 359  387 
Net deferred income tax liabilities $ 350  $ 384 
_____________________
Schedule of Effective Income Tax Rate Reconciliation
The Company’s effective income tax rate differs from the U.S. federal statutory rate as follows for the years ended December 31:
2020 2019 2018
Federal statutory rate 21.0  % 21.0  % 21.0  %
State and local income taxes, net of federal tax benefits 5.5  (3.8) 2.9 
Taxes on foreign operations at rates different than U.S. federal statutory rates (2.1) 5.0  1.9 
Taxes on foreign income, net of tax credits 1.2  (0.5) 0.3 
Nondeductible executive compensation (1.9) 1.1  0.8 
Nondeductible goodwill impairment (1.8) —  — 
Valuation allowances (5.2) 1.9  1.4 
Impact of U.S. tax reform —  —  (1.8)
Other (0.2) (0.5) 0.9 
16.5  % 24.2  % 27.4  %
Schedule of Unrecognized Tax Benefits
The following table summarizes the activity related to the Company’s unrecognized tax benefits as of December 31:
2020 2019 2018
Beginning balance $ 11  $ 13  $ 12 
Increases related to tax positions taken during a prior period —  2  2 
Increases related to tax positions taken during the current period 1  —  1 
Decreases related to settlements with taxing authorities —  (3) — 
Decreases as a result of a lapse of the applicable statute of limitations (3) (1) (2)
Decreases related to tax positions taken during a prior period —  —  — 
Ending balance $ 9  $ 11  $ 13