Income Taxes

The following table presents the Company's income tax expense and effective income tax rate for the periods presented:



	Three months ended June 30,						Six months ended June 30,
(in millions)	2016			2015			2016			2015
Income tax expense	$	28		$	10		$	33		$	13
Effective income tax rate	12		%	23		%	14		%	(77		)%

The effective tax rates for the three months ended June 30, 2016 and 2015 and the six months ended June 30, 2016 were different from the statutory rate as a result of the Company recording tax expense on its foreign earnings, but not on its domestic earnings, as a result of the valuation allowance recorded in the U.S. The effective tax rate for the six months ended June 30, 2015 was different from the statutory rate as a result of the Company’s inability to recognize tax benefits attributable to its domestic losses while at the same time recording tax expense on its foreign earnings. The Company’s tax expense in all periods was also impacted by the Company not recording tax expense on noncontrolling interests from pass through entities.

The Company's liability for unrecognized tax benefits was approximately $249 million as of June 30, 2016. The Company anticipates it is reasonably possible that the liability for unrecognized tax benefits may decrease by up to $123 million over the next twelve months beginning June 30, 2016 as a result of the possible closure of federal tax audits, potential settlements with certain states and foreign countries and the lapse of the statute of limitations in various state and foreign jurisdictions.