v3.25.3
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes  
Schedule of components of income tax (expense) benefit

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Years ended December 31,

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2024

    

2023

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amounts in millions

Current:

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Federal

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$

(12)

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—

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State and local

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(5)

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(2)

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(17)

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(2)

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Deferred:

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Federal

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(6)

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(16)

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State and local

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(4)

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(6)

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(10)

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(22)

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Income tax (expense) benefit

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$

(27)

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(24)

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Reconciliation of income tax (expense) benefit

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Years ended December 31,

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2024

    

2023

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amounts in millions

Computed expected tax benefit (expense)

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$

(20)

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(14)

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State and local income taxes, net of federal income taxes

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(7)

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(6)

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Executive compensation

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(1)

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(3)

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Stock compensation

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—

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(1)

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Non-deductible expenses

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—

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(4)

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Federal income tax credits

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2

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3

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Other, net

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(1)

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1

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Income tax (expense) benefit

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$

(27)

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(24)

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Schedule of deferred income tax assets and deferred income tax liabilities

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December 31, 

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2024

    

2023

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amounts in millions

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Deferred tax assets:

 

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Tax loss and credit carryforwards

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$

2

 

31

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Deferred revenue

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44

 

27

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Operating lease liability

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30

 

28

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Other accrued liabilities

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8

 

7

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Asset retirement obligations

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25

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24

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Other future deductible amounts

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23

 

26

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Deferred tax assets

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132

 

143

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Valuation allowance

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(1)

 

(1)

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Net deferred tax assets

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131

 

142

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Deferred tax liabilities

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Fixed assets

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207

 

196

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Intangible assets

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252

 

266

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Operating lease ROU assets

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31

 

29

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Deferred tax liabilities

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490

 

491

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Net deferred tax liabilities

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$

359

 

349

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