Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes.

For the three months ended March 31, 2019, we recorded an income tax expense of $6 million on pre-tax loss from continuing operations of $658 million compared to an income tax expense of $17 million on pre-tax income from continuing operations of $384 million for the three months ended March 31, 2018. Our effective income tax rate was (0.9)% and 4.4% for the three months ended March 31, 2019 and 2018, respectively.

For the three months ended March 31, 2019, the effective tax rate was lower than the statutory federal rate of 21%, primarily due to partnership loss for which there was no tax benefit, as such loss is allocated to the partners.

For the three months ended March 31, 2018, the effective tax rate was lower than the statutory federal rate of 21%, primarily due to partnership income for which there was no tax expense, as such income is allocated to the partners.