Rendering

Component: (Network and Table)
Network
2305301 - Disclosure - Income Taxes (Tables)
(http://www.caesars.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Provision for income taxes
The components of income before income taxes and the related provision for U.S. and other income taxes were as follows:
 
Year Ended December 31,
(In millions)
2016
 
2015
 
2014
Income before income taxes
 
 
 
 
 
United States
$
790.6

 
$
66.2

 
$
54.0

Outside of the United States

 

 

Total income before income taxes
$
790.6

 
$
66.2

 
$
54.0


 
Year Ended December 31,
(In millions)
2016
 
2015
 
2014
Provision for income taxes
 
 
 
 
 
Current
 
 
 
 
 
Federal
$
378.9

 
$

 
$

State
3.1

 

 

Deferred
 
 
 
 
 
Federal
(207.8
)
 
34.2

 
38.4

State
(2.7
)
 

 
1.0

Total provision for income taxes
$
171.5

 
$
34.2

 
$
39.4

 
 
Schedule of effective income tax rate reconciliation
The differences between the United States statutory federal income tax rate and the effective tax rate expressed as a percentage of income before taxes were as follows:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Statutory tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Increases/(decreases) in tax resulting from:
 
 
 
 
 
State tax, net of federal tax benefit
0.2

 
0.1

 
1.2

Change in valuation allowance
(11.0
)
 
16.7

 
36.5

Dividends received deduction
(2.6
)
 

 

Nondeductible expenses from CGP LLC
0.1

 
0.3

 
0.4

Federal tax credits from CGP LLC
(0.1
)
 
(0.4
)
 
(0.5
)
Other
0.1

 

 
0.3

Effective tax rate
21.7
 %
 
51.7
 %
 
72.9
 %
 
 
Schedule of deferred tax assets and liabilities
The major components of the Deferred tax assets and liabilities in our Balance Sheets were as follows:
 
December 31,
(In millions)
2016
 
2015
Deferred tax assets
 
 
 
Federal net operating loss carryover
$

 
$
2.4

State net operating loss carryovers
0.6

 
1.4

Federal tax credit carryover

 
0.8

Indirect tax benefits of state uncertain tax positions
1.0

 

Compensation programs
2.3

 
2.1

Investment in CGP LLC
44.9

 

Investment in notes from related party
91.1

 
89.6

Other
2.3

 
1.4

Total deferred tax assets
142.2

 
97.7

Less: valuation allowance
(0.9
)
 
(87.7
)
      Total deferred tax assets, less valuation allowance
141.3

 
10.0

 
 
 
 
Deferred tax liabilities
 
 
 
Investment in CGP LLC

 
79.1

Prepaid expenses
0.7

 
0.8

Total deferred tax liabilities
0.7

 
79.9

Net deferred tax asset/(liability)
$
140.6

 
$
(69.9
)
 
 
Summary of tax uncertainties
Reserve amounts related to potential income tax liabilities resulting from uncertain tax positions were as follows:
(In millions)
 
Balance at January 1, 2016
$

  Additions for tax positions of current year
94.6

  Additions for tax positions of prior years

  Reductions for tax positions of prior years

  Expiration of statutes

Balance at December 31, 2016
$
94.6