v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
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):
202320222021
Deferred:
Federal$43 $86 $44 
State(13)44 
Foreign(22)— — 
Deferred income tax benefit27 73 88 
Current:
Federal(3)
State— (5)
Foreign(5)(1)
Current income tax benefit (expense)(3)(7)
Total income tax benefit$24 $75 $81 
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):
202320222021
Income tax benefit at statutory rate$70 $92 $55 
State income tax, net of federal benefit(13)36 
Nondeductible expenses(14)(8)(5)
Foreign rate differential— (4)
Valuation allowance(49)(4)
Unrecognized tax benefit (expense)— (7)
Research & Development tax credits11 — — 
Other, net(1)
Total income tax benefit$24 $75 $81 
Schedule of deferred tax assets and deferred liabilities
The components of our deferred tax assets and liabilities as of December 31 are as follows (in millions):
20232022
Deferred tax assets:
Deferred revenue/gains220 271 
Employee benefits95 72 
Foreign tax credit90 78 
Other credits15 
Net operating loss carryforward914 709 
Interest expense limitation carryforward50 29 
Operating lease liabilities161 194 
Rent expense18 84 
Transaction costs25 13 
Sec. 174 research activities27 16 
Other16 20 
Total deferred tax assets1,631 1,490 
Valuation allowance(153)(90)
Deferred tax assets, net1,478 1,400 
Deferred tax liabilities:
Property and equipment(2,049)(1,963)
Operating lease assets(143)(173)
Other(29)(34)
Total deferred tax liabilities(2,221)(2,170)
Net deferred tax liability$(743)$(770)
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):
202320222021
Unrecognized tax benefits at January 1,$26 $40 $32 
Increases for tax positions taken during the period— 
Decreases for tax positions taken during the period(5)(6)(1)
Increases for tax positions taken during a prior period— 19 
Decreases for tax positions taken during a prior period(1)(13)(12)
Unrecognized tax benefits December 31,$25 $26 $40