Income Taxes Level 3 (Tables)

6 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense detail for the Company for the Successor period July 2, 2019 through December 31, 2019, and the Predecessor periods January 1, 2019 through July 1, 2019 and the years ended December 31, 2018 and 2017 is as follows:

	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			Year Ended December 31,
							2018		2017
Current:
Federal	$	—		$	38		$	—	$	—
State and local	3			13			2		2
Foreign	—			14			26		19
Total current	3			65			28		21
Deferred:
Federal	11			(1		)	1		(5		)
State and local	1			—			—		—
Foreign	(24		)	158			11		2
Total deferred	(12		)	157			12		(3		)
Income tax (benefit) expense	$	(9	)	$	222		$	40	$	18

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the Company’s combined differences between income taxes computed at the federal statutory tax rate of 21% and the provisions for income taxes for the Successor period July 2, 2019 through December 31, 2019, the Predecessor periods January 1, 2019 through July 1, 2019 and the year ended December 31, 2018 and the federal statutory tax rate of 35% and provision for income taxes for the year ended December 31, 2017 is as follows: 

	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			Year Ended December 31,
							2018			2017
Income tax (benefit) expense computed at federal statutory tax rate	$	(21	)	$	654		$	(26	)	$	(77	)
State tax (benefit) expense, net of federal benefit	(2		)	10			1			—
Foreign tax rate (benefit) expense differential	(1		)	2			9			(2		)
Foreign source income (loss) subject to U.S. taxation	3			1			2			(45		)
Non-deductible losses and other expenses	—			14			10			20
Increase (decrease) in the taxes due to changes in valuation allowance	20			(427		)	25			(129		)
Additional expense on foreign unrepatriated earnings	—			—			1			—
Additional expense for uncertain tax positions	1			46			18			5
Tax recognized in other comprehensive income	(1		)	—			—			(3		)
Changes in enacted tax laws and tax rates	—			—			—			167
Transition tax expense	—			—			—			65
Tax benefit for fresh start accounting and reorganization adjustments	—			(87		)	—			—
Other (increase) decrease of deferred tax assets	(8		)	9			—			17
Income tax (benefit) expense	$	(9	)	$	222		$	40		$	18

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The domestic and foreign components of the Company’s loss before income taxes for the Successor period July 2, 2019 through December 31, 2019, the Predecessor periods January 1, 2019 through July 1, 2019 and the years ended December 31, 2018 and 2017 is as follows:

	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019		Year Ended December 31,
						2018			2017
Domestic	$	(44	)	$	2,892	$	(195	)	$	(143	)
Foreign	(55		)	223		69			(77		)
Total	$	(99	)	$	3,115	$	(126	)	$	(220	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The following table summarizes the presentation of the Company’s net deferred tax liability in the Consolidated Balance Sheets at December 31, 2019 and 2018: 

	Successor			Predecessor
	2019			2018
Assets:
Long-term deferred income taxes	$	6		$	—
Liabilities:
Long-term deferred income taxes	(164		)	(15		)
Net deferred tax liability	$	(158	)	$	(15	)

The tax effects of significant temporary differences, net operating losses, interest expense limitation, and credit carryforwards, which comprise the Company’s deferred tax assets and liabilities at December 31, 2019 and 2018 are as follows: 

	Successor			Predecessor
	2019			2018
Assets:
Non-pension post-employment	$	4		$	5
Accrued and other expenses	100			56
Property, plant and equipment	4			4
Loss, expense, and credit carryforwards	165			488
Intangible assets	—			5
Pension and postretirement benefit liabilities	47			37
Gross deferred tax assets	320			595
Valuation allowance	(140		)	(547		)
Net deferred tax asset	180			48
Liabilities:
Property, plant and equipment	(263		)	(47		)
Unrepatriated earnings of foreign subsidiaries	(10		)	(10		)
Intangible assets	(65		)	(6		)
Gross deferred tax liabilities	(338		)	(63		)
Net deferred tax liability	$	(158	)	$	(15	)

Summary of Valuation Allowance [Table Text Block]

The following table summarizes the changes in the valuation allowance for the Successor period July 2, 2019 through December 31, 2019, the Predecessor periods January 1, 2019 through July 1, 2019 and the years ended December 31, 2018 and 2017: 

	Balance at Beginning of Period		Changes in Related Gross Deferred Tax Assets/Liabilities		Charge			Balance at End of Period
Valuation allowance on Deferred tax assets:
Predecessor
Year ended December 31, 2017	$	651	$	—	$	(129	)	$	522
Year ended December 31, 2018	522		—		25			547
January 1, 2019 through July 1, 2019	547		—		(427		)	120
Successor
July 2, 2019 through December 31, 2019	120		—		20			140

Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 

	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			Year Ended December 31, 2018
Balance at beginning of period	$	133		$	94		$	80
Additions based on tax positions related to the current year	2			41			4
Additions for tax positions of prior years	—			5			16
Reductions for tax positions of prior years	(3		)	(6		)	(2		)
Settlements	(4		)	—			—
Foreign currency translation	2			(1		)	(4		)
Balance at end of period	$	130		$	133		$	94