Rendering
Component: (Network and Table) |
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Network | 2313301 - Disclosure - Income Tax (Tables) (http://www.caesars.com/role/IncomeTaxTables) |
Table | (Implied) |
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] | 0001610979 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Income Tax Disclosure [Abstract] | |
Components of Income/(Loss) Before Income Taxes | Components of Income/(Loss) Before Income Taxes | | | | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | Income/(loss) before income taxes | $ | (138 | ) | | $ | 11 |
| | $ | (433 | ) |
|
Income Tax Benefit/(Provision) | Income Tax Benefit/(Provision) | | | | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | Current: | | | | | | Federal | $ | (76 | ) | | $ | (99 | ) | | $ | 2 |
| State | — |
| | — |
| | 21 |
| | (76 | ) | | (99 | ) | | 23 |
| Deferred | 128 |
| | 94 |
| | 5 |
| Income tax benefit/(provision) | $ | 52 |
| | $ | (5 | ) | | $ | 28 |
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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: |
|
|
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| Income before income taxes | $ | 52 |
| | $ | (5 | ) | | $ | 28 |
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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 | 1.2 |
| | 17.5 |
| | (6.6 | ) | Nondeductible goodwill impairment | — |
| | — |
| | (23.4 | ) | Change in valuation allowance | — |
| | — |
| | (1.7 | ) | Nondeductible expenses | (0.4 | ) | | 1.5 |
| | (0.1 | ) | Federal tax credits | 1.4 |
| | (11.3 | ) | | 0.3 |
| Reserve for uncertain tax positions | 0.1 |
| | — |
| | 3.0 |
| Other | 0.4 |
| | 2.8 |
| | — |
| Effective tax rate | 37.7 | % | | 45.5 | % | | 6.5 | % |
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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: | | | | Compensation programs | $ | 12 |
| | $ | 10 |
| Accrued restructuring and support expenses and other | 47 |
| | — |
| Allowance for doubtful accounts | 7 |
| | 10 |
| CRDA investment obligation | 5 |
| | 3 |
| Other | 1 |
| | 1 |
| State net operating loss carry forwards | 2 |
| | 3 |
| | 74 |
| | 27 |
| Valuation allowance | (8 | ) | | (8 | ) | | 66 |
| | 19 |
| Deferred tax liabilities: | | | | Depreciation and other property related items | 912 |
| | 919 |
| Intangibles | 88 |
| | 106 |
| Prepaid expenses | 9 |
| | 9 |
| Debt costs | 97 |
| | 152 |
| | 1,106 |
| | 1,186 |
| Net deferred tax liability | $ | 1,040 |
| | $ | 1,167 |
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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 |
| | $ | 3 |
| | $ | 13 |
| Additions based on tax positions related to the current year | — |
| | — |
| | 1 |
| Expiration of statutes | — |
| | — |
| | (11 | ) | Balance as of year end | $ | 3 |
| | $ | 3 |
| | $ | 3 |
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