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TAXES ON INCOME
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
TAXES ON INCOME TAXES ON INCOME
    The Company's pre-tax income from continuing operations before equity in earnings of equity method investees consisted of approximately 2.5 billion, $1.9 billion and $1.1 billion from U.S. operations and pre-tax income (loss) of $148 million, $(7) million and $15 million from foreign operations for the years ended December 31, 2021, 2020 and 2019, respectively.

    Pre-tax income from continuing operations before equity in earnings of equity method investees for U.S. and foreign operations include pre-tax gains of $171 million and $143 million, respectively, from the sale of the Company's 40% ownership interest in Q2 Solutions. During the year ended December 31, 2021, the Company also recorded $55 million of income tax expense related to the gain, consisting of $127 million of current income tax expense, partially offset by $72 million of deferred income tax benefit.    
        
    The components of income tax expense (benefit) for 2021, 2020 and 2019 were as follows:
202120202019
Current:
Federal$528 $300 $176 
State and local123 74 53 
Foreign3 1 3 
Deferred:
Federal(61)55 21 
State and local5 29 (4)
Foreign(1)1 (2)
Total$597 $460 $247 

    A reconciliation of the federal statutory income tax rate to the Company's effective income tax rate for 2021, 2020 and 2019 was as follows:
202120202019
Tax provision at statutory rate21.0 %21.0 %21.0 %
State and local income taxes, net of federal benefit4.1 4.5 4.6 
Impact of noncontrolling interests(0.8)(0.9)(1.1)
Excess tax benefits on stock-based compensation arrangements(0.7)(1.2)(1.2)
Return to provision true-ups (0.8)(0.7)(1.4)
Impact of equity earnings0.6 0.8 1.1 
Changes in reserves for uncertain tax positions0.4 0.9 1.7 
Change in valuation allowances associated with certain net operating losses— 0.2 (1.1)
Other, net(0.8)(0.1)(0.6)
Effective tax rate23.0 %24.5 %23.0 %
    For the year ended December 31, 2019, the Company recognized a $12 million net income tax benefit due to the release of valuation allowances associated with certain net operating loss carryforwards.

    The tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) as of December 31, 2021 and 2020 were as follows:
20212020
Non-current deferred tax assets (liabilities):
Accounts receivable reserves$89 $71 
Liabilities not currently deductible180 146 
Stock-based compensation32 47 
Basis differences in investments, joint ventures and subsidiaries (12)(81)
Net operating loss carryforwards, net of valuation allowance42 61 
Operating lease right-of-use assets(150)(151)
Operating lease liabilities162 161 
Depreciation and amortization(633)(604)
Total non-current deferred tax liabilities, net$(290)$(350)
    
    As of December 31, 2021 and 2020, non-current deferred tax liabilities of $290 million and $350 million, respectively, are included in other liabilities in the consolidated balance sheet.

    As of December 31, 2021, the Company had estimated net operating loss carryforwards for federal and state income tax purposes of $31 million and $676 million, respectively, which expire at various dates through 2041. Estimated net operating loss carryforwards for foreign income tax purposes are $70 million as of December 31, 2021, some of which can be carried forward indefinitely while others expire at various dates through 2041. As of December 31, 2021 and 2020, deferred tax assets associated with net operating loss carryforwards of $71 million and $94 million, respectively, have each been reduced by valuation allowances of $29 million and $33 million, respectively.
    
    Income taxes payable, including those classified as long-term in other liabilities in the consolidated balance sheet as of December 31, 2021 and 2020, were $106 million and $135 million, respectively. Prepaid income taxes were $36 million and $2 million as of December 31, 2021 and 2020, respectively, and were recorded in prepaid expenses and other current assets in the consolidated balance sheet.

    The total amount of unrecognized tax benefits as of and for the years ended December 31, 2021, 2020 and 2019 consisted of the following:
202120202019
Balance, beginning of year$93 $88 $107 
Additions:
For tax positions of current year1 2 2 
For tax positions of prior years30 25 16 
Reductions:
Changes in judgment(6)(9)(3)
Expirations of statutes of limitations(8)(4)(2)
Settlements— (9)(32)
Balance, end of year$110 $93 $88 

    The contingent liabilities for tax positions primarily relate to uncertainties associated with the realization of tax benefits derived from the allocation of income and expense among state jurisdictions, the characterization and timing of certain tax deductions associated with business combinations, certain tax credits and the deductibility of certain expenses and settlement payments.
    The total amount of unrecognized tax benefits as of December 31, 2021, that, if recognized, would affect the effective income tax rate is $90 million. Based upon the expiration of statutes of limitations, settlements and/or the conclusion of tax examinations, the Company believes it is reasonably possible that the total amount of unrecognized tax benefits may decrease by up to $15 million within the next twelve months.

    Accruals for interest expense on contingent tax liabilities are classified in income tax expense in the consolidated statements of operations. Accruals for penalties have historically been immaterial. Interest (income) expense included in income tax expense in each of the years ended December 31, 2021, 2020 and 2019 was approximately $(2) million, $6 million and $5 million, respectively. As of December 31, 2021 and 2020, the Company had approximately $20 million and $21 million, respectively, accrued, net of the benefit of a federal and state deduction, for the payment of interest on uncertain tax positions.

    The recognition and measurement of certain tax benefits includes estimates and judgment by management and inherently involves subjectivity. Changes in estimates may create volatility in the Company's effective tax rate in future periods and may be due to settlements with various tax authorities (either favorable or unfavorable), the expiration of the statute of limitations on certain tax positions and obtaining new information about particular tax positions that may cause management to change its estimates.

    In the regular course of business, various federal, state, local and foreign tax authorities conduct examinations of the Company's income tax filings and the Company generally remains subject to examination until the statute of limitations expires for the respective jurisdiction. The Internal Revenue Service has either completed its examinations of the Company's consolidated federal income tax returns or the statute of limitations has expired up through and including the 2016 tax year. At this time, the Company does not believe that there will be any material additional payments beyond its recorded contingent liability reserves that may be required as a result of these tax audits. As of December 31, 2021, a summary of the tax years that remain subject to examination, awaiting approval, are under appeal, or are otherwise unresolved for the Company's major jurisdictions are:
    
    United States - federal        2017 - 2020
    United States - various states    2002 - 2020