INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

The provision for income taxes consisted of the following for the years ended December 31, 2015, 2014 and 2013:



	2015			2014			2013
	(in millions)
Current provision:
Federal	$	1,067		$	1,006		$	595
States and Puerto Rico	90			81			53
Total current provision	1,157			1,087			648
Deferred (benefit) provision	(2		)	(64		)	42
Provision for income taxes	$	1,155		$	1,023		$	690

Provision for Income Taxes Using Federal Statutory Rate

The provision for income taxes was different from the amount computed using the federal statutory rate for the years ended December 31, 2015, 2014 and 2013 due to the following:



	2015			2014			2013
	(in millions)
Income tax provision at federal statutory rate	$	851		$	759		$	672
States, net of federal benefit, and Puerto Rico	44			48			32
Tax exempt investment income	(24		)	(27		)	(26		)
Health insurer fee	314			204			—
Nondeductible executive compensation	18			22			6
Concentra sale	(67		)	—			—
Other, net	19			17			6
Provision for income taxes	$	1,155		$	1,023		$	690

Principal Components of Net Deferred Tax Balances

Principal components of our net deferred tax balances at December 31, 2015 and 2014 were as follows, excluding Concentra amounts classified as held-for-sale at December 31, 2014 for comparative purposes. The net deferred tax liability associated with Concentra and classified as held-for sale at December 31, 2014 was $55 million.



	Assets (Liabilities)
	2015			2014
	(in millions)
Future policy benefits payable	$	200		$	320
Compensation and other accrued expenses	130			168
Benefits payable	267			138
Net operating loss carryforward	47			52
Deferred acquisition costs	64			57
Unearned revenues	22			21
Other	13			17
Total deferred income tax assets	743			773
Valuation allowance	(42		)	(48		)
Total deferred income tax assets, net of valuation allowance	701			725
Depreciable property and intangible assets	(363		)	(346		)
Investment securities	(37		)	(168		)
Prepaid expenses	(45		)	(55		)
Total deferred income tax liabilities	(445		)	(569		)
Total net deferred income tax assets	$	256		$	156
Amounts recognized in the consolidated balance sheets:
Other current assets	$	—		$	79
Other long-term assets	256			77
Total net deferred income tax assets	$	256		$	156