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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Provision for (Benefit From) Income Taxes
The provision for (benefit from) income taxes consists of the following:
Year Ended December 31,
202520242023
Current:
Federal$— $14 $— 
State15 11 45 
Foreign75 70 43 
Current income tax provision90 95 88 
Deferred:
Federal37 (644)77 
State(32)(211)47 
Foreign(29)(50)67 
Deferred income tax provision (benefit)(24)(905)191 
Provision for (benefit from) income taxes$66 $(810)$279 
Schedule of Pretax Income (Loss) for Domestic and Foreign Operations
Income (loss) before income taxes is comprised of the following:
Year Ended December 31,
202520242023
United States (U.S.)$(1,082)$(2,642)$1,418 
Foreign153 15 496 
Income (loss) before income taxes
$(929)$(2,627)$1,914 
Schedule of Deferred Income Tax Assets and Liabilities
Deferred income tax assets, net is comprised of the following:
As of December 31,
20252024
Deferred income tax assets:
Net tax loss carryforwards $1,853 $983 
Long-term operating lease liabilities840 807 
Tax credits119 405 
Deferred interest expense85 358 
Accrued liabilities and deferred revenue202 157 
Depreciation and amortization30 24 
Provision for doubtful accounts14 19 
Other26 28 
Valuation allowance (a)
(127)(83)
Deferred income tax assets3,042 2,698 
Deferred income tax liabilities:
Operating lease right-of-use assets826 793 
Depreciation and amortization62 74 
Prepaid expenses36 32 
Other13 13 
Deferred income tax liabilities937 912 
Deferred income tax assets, net$2,105 $1,786 
__________
(a)     The valuation allowance as of December 31, 2025 relates to tax loss carryforwards and certain deferred tax assets of $123 million and $4 million, respectively. The valuation allowance as of December 31, 2024 relates to tax loss carryforwards and certain deferred tax assets of $80 million and $3 million, respectively. The valuation allowances will be reduced when and if we determine it is more likely than not that the related deferred income tax assets will be realized.

Deferred income tax liabilities under vehicle programs is comprised of the following:

As of December 31,
20252024
Deferred income tax assets:
Depreciation and amortization$73 $73 
Other10 20 
Deferred income tax assets83 93 
Deferred income tax liabilities:
Depreciation and amortization2,749 2,513 
Other11 22 
Deferred income tax liabilities2,760 2,535 
Deferred income tax liabilities under vehicle programs, net$2,677 $2,442 
Schedule of Reconciliation of U.S Federal Income Tax Statutory Rate and Effective Income Tax Rate
The reconciliation between the provision for (benefit from) income taxes at the U.S. federal statutory tax rate and our provision for (benefit from) income taxes and effective tax rate is as follows:
Year Ended December 31,
2025
Amount%
Provision for (benefit from) income taxes at U.S. federal statutory tax rate$(195)21.0 %
State and local income taxes, net of federal tax (a)
(13)1.4 
Foreign tax effects18 (2.0)
Tax credits (b)
263 (28.3)
Effect of cross-border tax laws(12)1.3 
Nontaxable or nondeductible items9 (1.0)
Changes in valuation allowances(1)0.1 
Changes in unrecognized tax benefits(5)0.6 
Other adjustments2 (0.2)
Provision for (benefit from) income taxes and effective tax rate$66 (7.1)%
__________
(a)Primarily California, Florida, Michigan and New York.
(b)For the year ended December 31, 2025, certain previously recognized federal tax credits were reversed, with a corresponding restoration of the related asset basis. In addition, we are monetizing a portion of our available tax credits. See Note 2 – Summary of Significant Accounting Policies – Variable Interest Entities (“VIE”) and Non-Controlling Interests for more information related to the Interpace Ventures transaction.

The reconciliation between the U.S. federal statutory tax rate and our effective tax rate for the years ended December 31, 2024 and 2023 previously disclosed in our Consolidated Financial Statements prior to the adoption of ASU 2023-09, “Improvements to Income Tax Disclosures,” is as follows:

Year Ended December 31,
20242023
U.S. federal statutory tax rate21.0 %21.0 %
Adjustments to reconcile to our effective tax rate:
State and local income taxes, net of federal tax benefits6.0 4.0 
Changes in valuation allowances0.2 — 
Statutory rate differences between foreign and U.S.(0.9)2.8 
Tax credits3.6 (11.7)
Stock-based compensation0.1 (1.1)
Other nontaxable or nondeductible items(0.2)0.7 
Other adjustments1.0 (1.1)
Effective tax rate30.8 %14.6 %
Schedule of Unrecognized Tax Benefits Roll Forward
The following is a reconciliation of the gross amount of our unrecognized tax benefits:
202520242023
Balance as of January 1$58 $63 $53 
Additions for tax positions related to current year3 4 5 
Additions for tax positions related to prior years— — 5 
Reductions for tax positions related to prior years(3)(2)— 
Settlements(15)— — 
Statute of limitations(6)(4)(2)
Currency translation adjustments3 (3)2 
Balance as of December 31$40 $58 $63 
Schedule of Unrecognized Tax Benefits
The following table presents our unrecognized tax benefits:
As of December 31,
20252024
Unrecognized tax benefits in current income taxes payable (a)
$— $17 
Unrecognized tax benefits in non-current income taxes payable14 17 
Accrued interest payable on potential tax liabilities (b)
1 47 
__________
(a)Pursuant to the agreements governing the disposition of certain subsidiaries in 2006, we were entitled to indemnification for certain predisposition tax contingencies. As of December 31, 2024, liabilities for unrecognized tax benefits associated with these tax contingencies were included in current income taxes payable within accounts payable and other current liabilities on our Consolidated Balance Sheets.
(b)We recognize potential interest expense related to unrecognized tax benefits within interest expense related to corporate debt, net on the accompanying Consolidated Statements of Operations. Penalties incurred during the years ended December 31, 2025, 2024 and 2023, were not significant and were recognized in the provision for (benefit from) income taxes.
Schedule of Cash Flow Supplemental Disclosures
Income tax payments, net of refunds is comprised of the following:
Year Ended December 31,
2025
Federal$14 
State and local
California17 
Illinois(8)
Other state and local2 
Foreign
Australia68 
Canada6 
New Zealand6 
Other foreign16 
Income tax payments, net of refunds$121