Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective tax rate on earnings (loss) from Cont Ops for the 2022 Quarter was 35.4% compared to (6.5)% for the 2021 Quarter. A reconciliation of U.S. statutory federal income tax expense (benefit) to income tax expense follows:

(In millions)
3ME MARCH 31	2022		2021
U.S statutory federal income tax expense (benefit)	$	18	$	(10)
Increase (decrease) in taxes resulting from:
State and local income taxes	1		—
Valuation allowance, net	16		10
Foreign tax impact	2		2
Noncontrolling interest	(2)		(6)
Other	(4)		7
Total income tax expense (benefit)	$	31	$	3