Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Components of Income/(Loss) Before Income Taxes from Continuing Operations

	Years Ended December 31,
(In millions)	2014			2013			2012
United States	$	(3,351	)	$	(4,446	)	$	(1,889	)
Outside of the U.S.	134			196			85
	$	(3,217	)	$	(4,250	)	$	(1,804	)

Income Tax (Benefit)/Provision

	Years Ended December 31,
(In millions)	2014			2013			2012
United States
Current
Federal	$	—		$	(7	)	$	(69	)
State	(110		)	(83		)	6
Deferred
Federal	(593		)	(1,388		)	(572		)
State	109			(51		)	(76		)
Outside of the U.S.
Current	56			29			13
Deferred	(5		)	(17		)	(3		)
	$	(543	)	$	(1,517	)	$	(701	)

Allocation of Income Tax (Benefit)/Provision

	Years Ended December 31,
(In millions)	2014			2013			2012
Income tax (benefit)/provision applicable to:
Loss from continuing operations, before income taxes	$	(543	)	$	(1,517	)	$	(701	)
Discontinued operations	(21		)	(32		)	(120		)
Accumulated other comprehensive income/(loss)	—			16			11
Additional paid in capital	—			15			(2		)

Effective Income Tax Rate Reconciliation

	Years Ended December 31,
	2014		2013		2012
Statutory tax rate	35.0	%	35.0	%	35.0	%
Increases/(decreases) in tax resulting from:
State taxes, net of federal tax benefit	1.7		6.6		4.0
Valuation allowance	(5.9	)	(8.9	)	(2.0	)
Foreign income taxes	(0.1	)	0.1		(0.1	)
Goodwill	(9.3	)	(0.4	)	(1.7	)
Stock-based compensation	(0.8	)	(0.2	)	(0.2	)
Officers’ life insurance/insurance proceeds	—		—		0.2
Acquisition and integration costs	(0.4	)	0.1		(0.2	)
Reserves for uncertain tax positions	0.3		—		3.9
Sale of stock of subsidiary	(0.5	)	—		—
Capital loss tax benefit	—		4.2		—
Disallowed losses on sale to related party	(3.9	)	(0.3	)	—
Deferred tax adjustment upon contribution of CIE to CGP LLC	—		(0.5	)	—
Noncontrolling interests	1.0		—		—
Other	(0.2	)	—		—
Effective tax rate	16.9	%	35.7	%	38.9	%

Temporary Differences Resulting in Deferred Tax Assets and Liabilities

(In millions)	2014		2013
Deferred tax assets:
State net operating losses	$	294	$	253
Foreign net operating losses	23		24
Federal net operating loss	1,466		1,281
Compensation programs	145		142
Allowance for doubtful accounts	89		77
Self-insurance reserves	16		17
Accrued expenses	52		45
Federal tax credits	52		35
Federal indirect tax benefits of uncertain state tax positions	1		27
Investment in CGP LLC	—		23
Investments in non-consolidated affiliates	28		39
Capital loss carryover	134		136
Deferred revenue	93		41
Other	—		10
Subtotal	2,393		2,150
Less: valuation allowance	970		740
Total deferred tax assets	1,423		1,410

Deferred tax liabilities:
Depreciation and other property-related items	1,143		1,189
Deferred cancellation of debt income and other debt-related items	1,508		1,834
Investment in CGP LLC	21		—
Intangibles	998		1,118
Prepaid expenses	28		25
Other	2		—
Total deferred tax liabilities	3,700		4,166
Net deferred tax liability	$	2,277	$	2,756

Deferred Tax Assets and Liabilities Presented in our Consolidated Balance Sheets

(In millions)	2014		2013
Assets:
Deferred income taxes (current)	$	5	$	9
Deferred income taxes (non-current)	14		—
Total deferred tax assets	19		9
Liabilities:
Deferred income taxes (current)	$	217	$	289
Deferred income taxes (non-current)	2,079		2,476
Net deferred tax liability	$	2,277	$	2,756

Reconciliation of Unrecognized Tax Benefits

	Years Ended December 31,
(In millions)	2014			2013			2012
Balance at beginning of year	$	142		$	333		$	532
Additions based on tax positions related to the current year	20			1			10
Additions for tax positions of prior years	—			7			3
Reductions for tax positions for prior years	(2		)	(50		)	(204		)
Settlements	—			(82		)	(8		)
Expiration of statutes	(80		)	(67		)	—
Balance at end of year	$	80		$	142		$	333