Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

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

Components of Income/(Loss) Before Income Taxes from Continuing Operations
	Years Ended December 31,
(In millions)	2016			2015			2014
United States	$	(6,098	)	$	5,780		$	(3,331	)
Outside of the U.S.	(2		)	(2		)	12
	$	(6,100	)	$	5,778		$	(3,319	)

Income Tax Benefit/(Provision)

Income Tax Benefit/(Provision)
	Years Ended December 31,
(In millions)	2016			2015			2014
United States
Current
Federal	$	(2	)	$	—		$	—
State	—			—			110
Deferred
Federal	(33		)	128			601
State	7			(10		)	(109		)
Outside of the U.S.
Current	1			1			(5		)
Deferred	—			—			(1		)
	$	(27	)	$	119		$	596

Allocation of Income Tax Benefit/(Provision)

Allocation of Income Tax Benefit/(Provision)
	Years Ended December 31,
(In millions)	2016			2015			2014
Income tax benefit/(provision) applicable to:
Income/(loss) from continuing operations	$	(27	)	$	119		$	596
Discontinued operations	(730		)	(64		)	(32		)
Accumulated other comprehensive income/(loss)	—			—			(16		)
Deconsolidation and restructuring of CEOC and other	—			1,176			—
Additional paid-in capital	—			—			(15		)

Effective Income Tax Rate Reconciliation

Effective Income Tax Rate Reconciliation
	Years Ended December 31,
	2016		2015		2014
Statutory tax rate	35.0	%	35.0	%	35.0	%
Increases/(decreases) in tax resulting from:
State taxes, net of federal tax benefit	—		—		1.6
Valuation allowance	(22.5	)	3.5		(5.7	)
Foreign income taxes	—		—		0.1
Goodwill	—		—		(9.1	)
Deconsolidation of CEOC	—		(40.1	)	—
Stock-based compensation	(0.8	)	0.2		(0.5	)
Acquisition and integration costs	—		—		(0.4	)
Reserves for uncertain tax positions	—		—		0.3
Sale of stock of subsidiary	—		—		(0.5	)
Disallowed losses on sale to related party	—		—		(3.8	)
Nondeductible restructuring expenses	(16.8	)	—		—
Noncontrolling interests	4.8		(0.7	)	0.9
Other	(0.1	)	—		0.1
Effective tax rate	(0.4	)%	(2.1	)%	18.0	%

Temporary Differences Resulting in Deferred Tax Assets and Liabilities

Temporary Differences Resulting in Deferred Tax Assets and Liabilities
	As of December 31,
(In millions)	2016		2015
Deferred tax assets:
State net operating losses	$	3	$	5
Federal net operating loss	51		44
Compensation programs	42		52
Allowance for doubtful accounts	17		10
Self-insurance reserves	7		7
Accrued restructuring and support expenses	1,278		317
Accrued expenses	27		6
Federal tax credits	17		13
Federal indirect tax benefits of uncertain state tax positions	4		—
Investment in CGP LLC	—		115
Capital loss carryover	—		15
Deferred revenue	1		1
Other	8		7
Subtotal	1,455		592
Less: valuation allowance	949		205
Total deferred tax assets	$	506	$	387
Deferred tax liabilities:
Depreciation and other property-related items	914		921
Deferred cancellation of debt income and other debt-related items	98		152
Investment in CGP LLC	211		—
Investment in non-consolidated affiliates	909		170
Intangibles	87		134
Prepaid expenses	9		10
Total deferred tax liabilities	2,228		1,387
Net deferred tax liability	$	1,722	$	1,000

Reconciliation of Unrecognized Tax Benefits

Reconciliation of Unrecognized Tax Benefits
	Years Ended December 31,
(In millions)	2016			2015			2014
Balance as of beginning of year	$	3		$	81		$	142
Additions based on tax positions related to the current year	19			—			20
Additions for tax positions of prior years	—			—			—
Reductions for tax positions for prior years	(1		)	—			(1		)
Deconsolidation of CEOC	—			(78		)	—
Settlements	—			—			—
Expiration of statutes	—			—			(80		)
Balance as of end of year	$	21		$	3		$	81