INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) From Continuing Operations Before Income Taxes, Domestic and Foreign

Income (loss) from continuing operations before income taxes includes the following components:

	(In Millions)
	2021		2020		2019
United States	$	3,827	$	(201)	$	313
Foreign	(24)		8		—
	$	3,803	$	(193)	$	313

Components of the Income Tax Provision (Benefit) on Continuing Operations

The components of the income tax provision (benefit) on continuing operations consist of the following:

	(In Millions)
	2021		2020		2019
Current provision (benefit):
United States federal	$	14	$	(2)	$	(1)
United States state & local	55		—		—
Foreign	—		(1)		—
	69		(3)		(1)
Deferred provision (benefit):
United States federal	683		(95)		19
United States state & local	31		(11)		—
Foreign	(10)		(2)		—
Total income tax provision (benefit) from continuing operations	$	773	$	(111)	$	18

The components of income taxes for other than continuing operations consisted of the following:

	(In Millions)
	2021		2020		2019
Other comprehensive income (loss):
Pension and OPEB	$	(206)	$	(52)	$	11
Derivative financial instruments	(21)		(1)		—
Total	$	(227)	$	(53)	$	11

Reconciliation of Income Tax Attributable to Continuing Operations Computed at Statutory Rate

Reconciliation of our income tax attributable to continuing operations computed at the U.S. federal statutory rate is as follows:

	(In Millions)
	2021				2020				2019
Tax at U.S. statutory rate	$	799	21	%	$	(41)	21	%	$	66	21	%
Increase (decrease) due to:
Percentage depletion in excess of cost depletion	(99)		(3)		(42)		22		(49)		(16)
Non-taxable income related to noncontrolling interests	(9)		—		(9)		4		—		—
Luxembourg legal entity reduction	—		—		—		—		846		271
Valuation allowance release:
Luxembourg legal entity reduction	—		—		—		—		(846)		(271)
State taxes, net	86		2		(11)		6		—		—
Other items, net	(4)		—		(8)		4		1		1
Provision for income tax expense (benefit) and effective income tax rate including discrete items	$	773	20	%	$	(111)	57	%	$	18	6	%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

	(In Millions)
	2021		2020
Deferred tax assets:
Operating loss and other carryforwards	$	379	$	1,236
Pension and OPEB liabilities	584		228
State and local	109		132
Other liabilities	287		190
Total deferred tax assets before valuation allowance	1,359		1,786
Deferred tax asset valuation allowance	(409)		(836)
Net deferred tax assets	950		950
Deferred tax liabilities:
Investment in partnerships	(191)		(144)
Property, plant and equipment and mineral rights	(641)		(246)
Other assets	(216)		(68)
Total deferred tax liabilities	(1,048)		(458)
Net deferred tax assets (liabilities)	$	(98)	$	492

Summary of Changes in the Valuation Allowance

The changes in the valuation allowance are presented below:

	(In Millions)
	2021		2020		2019
Balance at beginning of year	$	836	$	441	$	1,287
Change in valuation allowance:
Included in income tax benefit	(82)		(3)		(846)
Increase (decrease) from acquisitions	(345)		398		—
Balance at end of year	$	409	$	836	$	441

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	(In Millions)
	2021		2020		2019
Unrecognized tax benefits balance as of January 1	$	107	$	29	$	29
Increase for tax positions in current year	4		7		—
Decrease for tax positions of prior year	(66)		(4)		—
Lapses in statutes of limitations	(10)		—		—
Increases from acquisitions	—		75		—
Unrecognized tax benefits balance as of December 31	$	35	$	107	$	29