Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of income tax benefit (expense)

Years ended December 31,

 

2023

2022

2021

 

amounts in millions

 

Current:

    

    

    

Federal

$

(30)

 

(222)

 

(233)

State and local

 

(2)

 

(1)

 

 

(32)

 

(223)

 

(233)

Deferred:

Federal

 

(160)

 

(51)

 

4

State and local

 

(8)

 

(3)

 

11

 

(168)

 

(54)

 

15

Income tax benefit (expense)

$

(200)

 

(277)

 

(218)

Schedule of income tax benefit (expense) reconciliation to the effective tax rate

Years ended December 31,

2023

2022

2021

 

amounts in millions

 

Computed expected tax benefit (expense)

$

(186)

(322)

(200)

State and local taxes, net of federal income taxes

 

(8)

 

(4)

 

(8)

Nontaxable equity contribution

 

4

 

41

 

2

Change in valuation allowance

 

 

1

 

4

Sale of consolidated subsidiary

 

2

 

15

 

Change in tax rate - other

 

 

 

14

Executive compensation

(5)

(7)

(14)

Litigation settlement

(22)

Other

 

(7)

 

(1)

 

6

Income tax (expense) benefit

$

(200)

 

(277)

 

(218)

Schedule of deferred tax assets and liabilities

December 31,

 

2023

2022

 

amounts in millions

 

Deferred tax assets:

    

    

    

    

Tax loss and tax credit carryforwards

$

36

 

32

Accrued stock-based compensation

 

15

 

16

Deferred revenue

 

27

 

20

Operating lease liabilities

28

31

Other accrued liabilities

7

28

Other future deductible amounts

 

35

 

41

Total deferred tax assets

 

148

 

168

Less: valuation allowance

 

(1)

 

(1)

Net deferred tax assets

 

147

 

167

Deferred tax liabilities:

Investments

 

(1,871)

 

(1,688)

Fixed assets

(196)

(201)

Intangible assets

(262)

(276)

Debt

(5)

(10)

Operating lease ROU assets

 

(29)

 

(32)

Total deferred tax liabilities

 

(2,363)

 

(2,207)

Net deferred tax asset (liability)

$

(2,216)

 

(2,040)