Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for continuing operations were as follows:


	Year Ended December 31,
Total Income Tax Expense (Benefit) on continuing operations	2021		2020		2019
Current Income Taxes
Federal	$	7	$	(3)	$	19
State	113		92		74
Total current income taxes	120		89		93

Deferred Income Taxes
Federal	376		87		(303)
State	(25)		(83)		(68)
Total deferred income taxes	351		4		(371)
Total income tax expense (benefit)	$	471	$	93	$	(278)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:


	Year Ended December 31,
Reconciliation of the Income Tax Provision	2021				2020				2019
Tax Expense (Benefit) at Federal Statutory Rate	$	407	21.0	%	$	84	21.0	%	$	(5)	21.0	%
Effect of:
State taxes, net of federal benefit	70		3.6	%	8		1.7	%	3		(17.5)	%
Non-controlling interests	—		—	%	—		—	%	1		(3.1)	%
Change in valuation allowance	—		—	%	—		—	%	(285)		1,172.8	%
Deferred adjustments	(6)		(0.3)	%	(5)		(1.1)	%	2		(9.3)	%
Nondeductible items	2		0.1	%	7		1.7	%	5		(19.9)	%
Other, net	(2)		(0.1)	%	(1)		(0.3)	%	1		(0.8)	%
Total income tax expense (benefit)	$	471	24.3	%	$	93	23.0	%	$	(278)	1,143.2	%

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:


Deferred Tax Assets and Liabilities	December 31, 2021		December 31, 2020
Deferred Tax Assets
Effect of:
Goodwill and intangible assets	$	998	$	728
Loss carryforwards (federal, state & capital)	134		558
Loss reserves	104		115

Lease liability	30		26
Accruals	16		24
Other, net	20		52
Total deferred tax assets	1,302		1,503

Deferred Tax Liabilities
MSR amortization and mark-to-market, net	(240)		(117)
Right-of-use assets	(27)		(23)
Depreciation and amortization, net	(19)		(13)
Prepaid assets	(2)		(2)
Other, net	(14)		—
Total deferred tax liabilities	(302)		(155)
Valuation allowance	(9)		(9)
Deferred tax assets, net	$	991	$	1,339