Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

7. INCOME TAXES

Income tax provisions for interim (quarterly) periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent, or unusual items. Income tax benefit from continuing operations was $7 million for the three months ended March 31, 2025, compared to income tax benefit of $5 million for the three months ended March 31, 2024. The change was primarily driven by a favorable change in discrete tax expenses and benefits partially offset by the impact of a lower loss from continuing operations before taxes in the three months ended March 31, 2025 compared to the prior year.

The Company’s current tax liability was $331 million and $336 million as of March 31, 2025, and December 31, 2024, respectively, presented within Other current liabilities on the Condensed Consolidated Balance Sheets. Of the current tax liability as of March 31, 2025, $281 million relates to taxes for the Digital Banking Sale which were paid during April 2025.