Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense for continuing operations were as follows:


	Year Ended December 31,
Total Income Tax Expense on continuing operations	2022		2021		2020
Current Income Taxes
Federal	$	(6)	$	7	$	(3)
State	8		113		92
Total current income taxes	2		120		89

Deferred Income Taxes
Federal	245		376		87
State	44		(25)		(83)
Total deferred income taxes	289		351		4
Total income tax expense	$	291	$	471	$	93

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:


	Year Ended December 31,
Reconciliation of the Income Tax Provision	2022				2021				2020
Tax Expense at Federal Statutory Rate	$	255	21.0	%	$	407	21.0	%	$	84	21.0	%
Effect of:
State taxes, net of federal benefit	39		3.2	%	70		3.6	%	8		1.7	%


Deferred adjustments	2		0.2	%	(6)		(0.3)	%	(5)		(1.1)	%
Nondeductible items	—		—	%	2		0.1	%	7		1.7	%
Other, net	(5)		(0.4)	%	(2)		(0.1)	%	(1)		(0.3)	%
Total income tax expense	$	291	24.0	%	$	471	24.3	%	$	93	23.0	%

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:


Deferred Tax Assets and Liabilities	December 31, 2022		December 31, 2021
Deferred Tax Assets
Effect of:
Goodwill and intangible assets	$	827	$	998
Loss carryforwards (federal, state & capital)	104		134
Loss reserves	84		104

Lease liability	28		30
Accruals	11		16
Other, net	19		20
Total deferred tax assets	1,073		1,302

Deferred Tax Liabilities
MSR amortization and mark-to-market, net	(269)		(240)
Gain/loss on assets, net	(67)		(14)
Right-of-use assets	(24)		(27)
Depreciation and amortization, net	(2)		(19)
Prepaid assets	(1)		(2)
Total deferred tax liabilities	(363)		(302)
Valuation allowance	(7)		(9)
Deferred tax assets, net	$	703	$	991