INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Provision (benefit) For Income Taxes

The provision (benefit) for income taxes consisted of the following for the years ended December 31, 2022, 2021, and 2020 (in millions):

	2022		2021		2020
Current provision (benefit) for income taxes:
Federal	$	6	$	(78)	$	(126)
State	3		2		9
	9		(76)		(117)
Deferred provision (benefit) for income taxes:
Federal	868		(93)		(584)
State	36		(4)		(19)
	904		(97)		(603)
Provision (benefit) for income taxes	$	913	$	(173)	$	(720)

Schedule of Reconciliation of Federal Income Taxes At The Applicable Statutory Rate To The Recorded Provision From Continuing Operations

The following is a reconciliation of federal income taxes at the applicable statutory rate to the recorded provision:

	2022		2021		2020
Federal statutory rate	21.0	%	21.0	%	21.0	%
Adjustments:
State income taxes, net of federal tax benefit (a)	2.0	%	(4.2)	%	4.0	%
Valuation allowance (b)	1.6	%	(1.5)	%	(6.1)	%
Noncontrolling interest (c)	0.2	%	2.6	%	0.7	%
Federal tax credits (d)	(0.2)	%	10.6	%	1.7	%
Net Operating Loss Carryback (e)	—	%	7.5	%	1.9	%
Other	0.7	%	(1.3)	%	(0.3)	%
Effective income tax rate	25.3	%	34.7	%	22.9	%

(a)Included in state income taxes are deferred income tax effects related to certain acquisitions, intercompany mergers, tax elections, law changes and/or impact of changes in apportionment.

(b)Our 2022 income tax provision includes a net $56 million addition related to an increase in valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j) and primarily offset by a decrease in valuation allowance on certain state deferred tax assets resulting from the Deconsolidation. Our 2021 income tax provision includes a net $8 million addition related to an increase in valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j) and primarily offset by a decrease in valuation allowance on certain state deferred tax assets as a result of the changes in estimate of the state apportionment. Our 2020 income tax provision includes a $192 million addition related to an increase in valuation allowance primarily due to the change in judgement in the realizability of certain deferred tax assets resulting from the reduction in forecast of future operating income and the RSN impairment.

(c)Our 2022, 2021, and 2020 income tax provisions include a $9 million expense and a $13 million and a $23 million benefit, respectively, related to noncontrolling interest of various partnerships.

(d)Our 2021 and 2020 income tax provisions include a benefit of $40 million and $42 million, respectively, related to investments in sustainability initiatives whose activities qualify for federal income tax credits through 2021.

(e)Our 2021 and 2020 income tax provisions include a benefit of $38 million and $61 million, respectively, as result of the CARES Act allowing for the 2020 federal net operating loss to be carried back to the pre-2018 years when the federal tax rate was 35%.

Schedule of Total Deferred Tax Assets And Deferred Tax Liabilities

Total deferred tax assets and deferred tax liabilities as of December 31, 2022 and 2021 were as follows (in millions):

	2022		2021
Deferred Tax Assets:
Net operating losses:
Federal	$	14	$	16
State	131		120
Goodwill and intangible assets	2		6
Basis in DSH	—		704
DSH's interest expense carryforward	212		110
Investment in Bally's securities	70		28
Tax Credits	79		87
Other	96		80
	604		1,151
Valuation allowance for deferred tax assets	(312)		(256)
Total deferred tax assets	$	292	$	895
Deferred Tax Liabilities:
Goodwill and intangible assets	$	(384)	$	(397)
Property & equipment, net	(110)		(165)
Basis in DSH	(356)		—
Other	(52)		(40)
Total deferred tax liabilities	(902)		(602)
Net deferred tax (liabilities) assets	$	(610)	$	293

Schedule of Activity Related To Accrued Unrecognized Tax Benefits

The following table summarizes the activity related to our accrued unrecognized tax benefits (in millions):

	2022		2021		2020
Balance at January 1,	$	15	$	11	$	11
Additions related to prior year tax positions	2		1		5
Additions related to current year tax positions	1		3		3
Reductions related to prior year tax positions	—		—		(1)
Reductions related to settlements with taxing authorities	—		—		(4)
Reductions related to expiration of the applicable statute of limitations	(1)		—		(3)
Balance at December 31,	$	17	$	15	$	11