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Income Taxes
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of income before income taxes are as follows:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Domestic
 
$
460

 
$
1,087

 
$
917

Foreign
 
110

 
247

 
164

 
 
$
570

 
$
1,334

 
$
1,081


The Company's provision for (benefit from) income taxes consists of the following:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Current
 
 
 
 
 
 
Federal
 
$
20

 
$
158

 
$
231

State
 
9

 
28

 
18

Foreign
 
25

 
52

 
27

Total current
 
54

 
238

 
276

Deferred
 
 
 
 
 
 
Federal
 
69

 
59

 
(557
)
State
 
11

 
(2
)
 
25

Foreign
 
(26
)
 
5

 
(2
)
Total deferred
 
54

 
62

 
(534
)
Total provision for (benefit from) income taxes
 
$
108

 
$
300

 
$
(258
)

A reconciliation of taxes computed at the statutory rate to the Company's income tax expense is as follows:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Provision for federal income tax, at statutory rate
 
$
120

 
$
280

 
$
378

State income tax provision, net of federal income tax effect
 
10

 
28

 
26

Foreign income tax rate differential
 
(6
)
 
14

 
(36
)
Manufacturing deduction
 
—

 
—

 
(23
)
Depletion
 
(5
)
 
(4
)
 
(7
)
Noncontrolling interests
 
(8
)
 
(6
)
 
(9
)
Tax Act related adjustment
 
—

 
—

 
(591
)
Change in valuation allowance
 
(17
)
 
(9
)
 
3

Changes in state apportionment and other state adjustments
 
11

 
(6
)
 
2

Other, net
 
3

 
3

 
(1
)
Total income tax expense (benefit)
 
$
108

 
$
300

 
$
(258
)

The tax effects of the principal temporary differences between financial reporting and income tax reporting at December 31 are as follows:
 
 
2019
 
2018
Net operating loss carryforward
 
$
209

 
$
50

Credit carryforward
 
25

 
24

Operating lease liabilities
 
96

 
—

Accruals
 
65

 
64

Pension
 
83

 
76

Inventories
 
20

 
13

Other
 
26

 
17

Deferred taxes assets—total
 
524

 
244

Property, plant and equipment
 
(1,017
)
 
(948
)
Intangibles
 
(156
)
 
(148
)
Operating lease right-of-use asset
 
(95
)
 
—

Turnaround costs
 
(21
)
 
(20
)
Consolidated partnerships
 
(194
)
 
(202
)
Equity method investments
 
(220
)
 
(13
)
Other
 
(18
)
 
(14
)
Deferred tax liabilities—total
 
(1,721
)
 
(1,345
)
Valuation allowance
 
(30
)
 
(47
)
Total net deferred tax liabilities
 
$
(1,227
)
 
$
(1,148
)
 
 
 
 
 
Balance sheet classifications
 
 
 
 
Noncurrent deferred tax asset
 
$
28

 
$
11

Noncurrent deferred tax liability
 
(1,255
)
 
(1,159
)
Total net deferred tax liabilities
 
$
(1,227
)
 
$
(1,148
)

At December 31, 2019, the Company had federal, foreign and state net operating loss carryforwards ("NOLs") of approximately $539, $217 and $613, respectively. The increase in the federal and state NOLs is primarily due to bonus tax depreciation from the Company's investment in LACC accounted for as an equity method investment. The federal NOL and certain foreign and state NOLs do not expire, while certain other foreign and state NOLs expire in varying amounts between 2020 and 2039. Certain NOLs are subject to limitations on an annual basis. At December 31, 2019, the Company had various federal, foreign and state credits carryforwards of $2, $4 and $19, respectively, which either do not expire or expire in varying amounts between 2020 and 2033. Management believes the Company will realize the benefit of a portion of the net operating loss carryforwards before they expire, but to the extent that the full benefit may not be realized, a valuation allowance has been recorded. The valuation allowance decreased by $17 in 2019, primarily due to a $19 release in valuation allowance resulting from a change in management judgment regarding the realizability of certain foreign deferred tax assets, including net operating loss and credit carryforwards, as a result of the change in expectations of income in future years.
As result of the Tax Act, the Company recognized an income tax benefit of $591 in the 2017 consolidated financial statements for items such as a revaluation of deferred tax assets and liabilities, partially offset by a one-time U.S. tax on the mandatory deemed repatriation of the Company's post-1986 foreign earnings. The Company did not record any material measurement period adjustment in 2018. The accounting for the income tax effects of the Tax Act was completed in 2018.
The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. The Company is no longer subject to examinations by tax authorities before the year 2012.