Current report filing

Income Taxes (Tables)

v3.8.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Benefit (Provision)
Income tax benefit (provision) included in our reported net loss consisted of the following (in millions): 
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Current:
 
 
 
 
 
 
Federal
 
$

 
$

 
$

State
 

 

 

Foreign
 
(6
)
 

 
(2
)
Total current
 
(6
)



(2
)
 
 
 
 
 
 
 
Deferred:
 
 
 
 
 
 
Federal
 

 

 

State
 

 

 

Foreign
 
3

 
(2
)
 
2

Total deferred
 
3


(2
)

2

Total income tax provision
 
$
(3
)

$
(2
)

$

Schedule of Effective Income Tax Rate Reconciliation
The reconciliation of the federal statutory income tax rate to our effective income tax rate is as follows: 
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
U.S. federal statutory tax rate
 
35.0
 %
 
35.0
 %
 
35.0
 %
Non-controlling interest
 
2.9
 %
 
(2.1
)%
 
(2.3
)%
State tax rate
 
(0.2
)%
 
1.8
 %
 
1.9
 %
U.S. tax reform rate change
 
71.4
 %
 
 %
 
 %
Share-based compensation
 
(6.2
)%
 
 %
 
 %
Nondeductible interest expense
 
8.5
 %
 
(6.6
)%
 
(2.6
)%
Other
 
(1.2
)%
 
(0.9
)%
 
(1.8
)%
Valuation allowance
 
(109.7
)%
 
(27.5
)%
 
(30.1
)%
Effective tax rate
 
0.5
 %
 
(0.3
)%
 
0.1
 %
Schedule of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities at December 31, 2017 and 2016 are as follows (millions): 
 
 
December 31,
 
 
2017
 
2016
Deferred tax assets
 
 
 
 
Net operating loss carryforwards and credits
 
 
 
 
Federal and foreign
 
$
960

 
$
1,060

State
 
188

 
183

Deferred gain
 
46

 
77

Share-based compensation expense
 
16

 
53

Derivative instruments
 
15

 
47

Long-term debt
 
16

 
18

Other
 
30

 
13

Less: valuation allowance
 
(806
)
 
(1,252
)
Total deferred tax assets
 
465

 
199

 
 
 
 
 
Deferred tax liabilities
 
 

 
 

Investment in limited partnership
 
(391
)
 
(76
)
Convertible debt
 
(65
)
 
(118
)
Property, plant and equipment
 
(6
)
 
(5
)
Total deferred tax liabilities
 
(462
)
 
(199
)
 
 
 
 
 
Net deferred tax assets
 
$
3

 
$

Summary of Income Tax Contingencies
Changes in the balance of unrecognized tax benefits are as follows (in millions): 
 
Year Ended December 31,
 
2017
 
2016
Balance at beginning of the year
$
103

 
$
104

Additions based on tax positions related to current year

 

Additions for tax positions of prior years

 

Reductions for tax positions of prior years
(1
)
 
(1
)
Settlements

 

U.S. tax reform rate change
(40
)
 

Balance at end of the year
$
62

 
$
103