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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) from continuing operations before income taxes were:



	Year Ended December 31,
(In millions)		2019		2018		2017
United States		$	43	$	642	$	(783	)
Foreign		349		785		329
Total		$	392	$	1,427	$	(454	)

Schedule of Components of Income Tax Expense (Benefit)

Income tax provisions (benefits) for continuing operations were:



	Year Ended December 31,
	2019									2018									2017
(In millions)	Current			Deferred			Total			Current			Deferred			Total			Current			Deferred			Total
Federal	$	(116	)	$	(3	)	$	(119	)	$	6		$	—		$	6		$	(32	)	$	41		$	9
State and local	4			3			7			(1		)	(23		)	(24		)	(14		)	2			(12		)
Foreign	58			(34		)	24			274			75			349			483			(104		)	379
Total	$	(54	)	$	(34	)	$	(88	)	$	279		$	52		$	331		$	437		$	(61	)	$	376

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate applied to income (loss) from continuing operations before income taxes to the provision (benefit) for income taxes follows:



	Year Ended December 31,
(In millions)	2019			2018			2017
Total pre-tax income (loss) from continuing operations	$	392		$	1,427		$	(454	)
Total income tax expense (benefit)	$	(88	)	$	331		$	376
Effective income tax rate (benefit) on continuing operations	(22		)%	23		%	83		%

Income taxes at the statutory tax rate^(a)(b)	$	83		$	300		$	(159	)
Effects of foreign operations	(29		)	214			140
Adjustments to valuation allowances	(28		)	(177		)	446
State income taxes	11			(17		)	(19		)
Tax law change	—			—			(35		)
Other federal tax effects	(125		)	11			3
Income tax expense (benefit) on continuing operations	$	(88	)	$	331		$	376

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities resulted from the following:



	Year Ended December 31,
(In millions)	2019			2018
Deferred tax assets:
Employee benefits	$	90		$	75
Operating loss carryforwards	1,685			1,304
Capital loss carryforwards	1			2
Foreign tax credits	611			611
Other	27			4
Subtotal	2,414			1,996
Valuation allowance	(699		)	(721		)
Total deferred tax assets	1,715			1,275
Deferred tax liabilities:
Property, plant and equipment	1,861			1,018
Accrued revenue	40			60
Other	—			3
Total deferred tax liabilities	1,901			1,081
Net deferred tax liabilities	$	186		$	—
Net deferred tax assets	$	—		$	194

Net Deferred Tax Assets Liabilities Table

Net deferred tax assets and liabilities were classified in the consolidated balance sheets as follows:



	December 31,
(In millions)	2019		2018
Assets:
Other noncurrent assets	$	—	$	393
Liabilities:
Noncurrent deferred tax liabilities	186		199
Net deferred tax liabilities	$	186	$	—
Net deferred tax assets	$	—	$	194

Income Tax Returns Remaining Subject To Examination Table

As of December 31, 2019, our income tax returns remain subject to examination in the following major tax jurisdictions for the tax years indicated:



United States^(a)	2008-2018
Equatorial Guinea	2007-2018

^(a)

Includes federal and state jurisdictions.

Summary Of Activity In Unrecognized Tax Benefits Table

The following table summarizes the activity in unrecognized tax benefits:



(In millions)	2019			2018			2017
Beginning balance	$	263		$	126		$	66
Additions for tax positions of prior years	13			152			83
Reductions for tax positions of prior years	(152		)	(15		)	(3		)
Settlements	(111		)	—			(20		)
Ending balance	$	13		$	263		$	126