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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) from continuing operations before income taxes were:



	Year Ended December 31,
(In millions)		2018		2017			2016
United States		$	642	$	(783	)	$	(1,449	)
Foreign		785		329			285
Total		$	1,427	$	(454	)	$	(1,164	)

Schedule of Components of Income Tax Expense (Benefit)

Income tax provisions (benefits) for continuing operations were:



	Year Ended December 31,
	2018									2017									2016
(In millions)	Current			Deferred			Total			Current			Deferred			Total			Current		Deferred			Total
Federal	$	6		$	—		$	6		$	(32	)	$	41		$	9		$	2	$	836		$	838
State and local	(1		)	(23		)	(24		)	(14		)	2			(12		)	2		8			10
Foreign	274			75			349			483			(104		)	379			91		(16		)	75
Total	$	279		$	52		$	331		$	437		$	(61	)	$	376		$	95	$	828		$	923

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate applied to income (loss) from continuing operations before income taxes to the provision (benefit) for income taxes follows:



	Year Ended December 31,
(In millions)	2018			2017			2016
Total pre-tax income (loss) from continuing operations	$	1,427		$	(454	)	$	(1,164	)
Total income tax expense (benefit)	$	331		$	376		$	923
Effective income tax rate on continuing operations	23		%	83		%	79		%

Income taxes at the statutory tax rate^(a)(b)	$	300		$	(159	)	$	(407	)
Effects of foreign operations	214			140			47
Adjustments to valuation allowances	(177		)	446			1,270
State income taxes	(17		)	(19		)	9
Tax law change	—			(35		)	6
Other federal tax effects	11			3			(2		)
Income tax expense (benefit) on continuing operations	$	331		$	376		$	923

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities resulted from the following:



	Year Ended December 31,
(In millions)	2018			2017
Deferred tax assets:
Employee benefits	$	102		$	111
Operating loss carryforwards	1,304			1,030
Capital loss carryforwards	2			3
Foreign tax credits	611			611
Other credit carryforwards	—			—
Investments in subsidiaries and affiliates	—			174
Other	5			69
Subtotal	2,024			1,998
Valuation allowance	(749		)	(926		)
Total deferred tax assets	1,275			1,072
Deferred tax liabilities:
Property, plant and equipment	1,018			1,332
Accrued revenue	60			81
Other	3			3
Total deferred tax liabilities	1,081			1,416
Net deferred tax liabilities	$	—		$	344
Net deferred tax assets	$	194		$	—

Net Deferred Tax Assets Liabilities Table

Net deferred tax assets and liabilities were classified in the consolidated balance sheets as follows:



	December 31,
(In millions)	2018		2017
Assets:
Other noncurrent assets	$	393	$	489
Liabilities:
Noncurrent deferred tax liabilities	199		833
Net deferred tax liabilities	$	—	$	344
Net deferred tax assets	$	194	$	—

Income Tax Returns Remaining Subject To Examination Table

As of December 31, 2018, our income tax returns remain subject to examination in the following major tax jurisdictions for the tax years indicated:



United States^(a)	2008-2017
Equatorial Guinea	2007-2017
United Kingdom	2008-2017


^(a)	Includes federal and state jurisdictions.

Summary Of Activity In Unrecognized Tax Benefits Table

The following table summarizes the activity in unrecognized tax benefits:



(In millions)	2018			2017			2016
Beginning balance	$	126		$	66		$	65
Additions for tax positions of prior years	152			83			6
Reductions for tax positions of prior years	(15		)	(3		)	(5		)
Settlements	—			(20		)	—
Statute of limitations	—			—			—
Ending balance	$	263		$	126		$	66