Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities at December 31, 2019 and 2018, are as follows:

(in millions)	2019		2018
DEFERRED TAX LIABILITIES:
Accelerated depreciation	$	3,096	$	3,395
Operating lease right-of-use assets	293		—
Other	93		92
Total deferred tax liabilities	3,482		3,487
DEFERRED TAX ASSETS:
Construction obligation	38		355
Accrued employee benefits	346		329
Rapid rewards loyalty liability	305		267
Operating lease liabilities	308		—
Other	121		109
Total deferred tax assets	1,118		1,060
Net deferred tax liability	$	2,364	$	2,427

Components of the Income Tax Provision

The provision (benefit) for income taxes is composed of the following:

(in millions)	2019			2018		2017
CURRENT:
Federal	$	610		$	338	$	904
State	102			60		72
Total current	712			398		976
DEFERRED:
Federal	(18		)	299		200
State	(6		)	2		2
Change in federal statutory tax rate (a)	(31		)	—		(1,270		)
Total deferred	(55		)	301		(1,068		)
	$	657		$	699	$	(92	)

(a) The Tax Cuts and Jobs Act was enacted in December 2017, which reduced the U.S. federal corporate tax rate from the previous rate of 35 percent to 21 percent.

Income Tax Provision Reconciliation To Federal Income Tax Statutory Rate

The effective tax rate on income before income taxes differed from the federal income tax statutory rate for the following reasons:

 

(in millions)	2019			2018			2017
Tax at statutory U.S. tax rates	$	621		$	664		$	1,143
State income taxes, net of federal benefit	76			49			50
Change in federal statutory tax rate (a)	(31		)	—			(1,270		)
Other, net	(9		)	(14		)	(15		)
Total income tax provision (benefit)	$	657		$	699		$	(92	)

(a) The Tax Cuts and Jobs Act was enacted in December 2017, which reduced the U.S. federal corporate tax rate from the previous rate of 35 percent to 21 percent.