Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense
Income tax expense consisted of the following:
  For the Years Ended December 31,
  2022 2021 2020
Current taxes:      
Federal $ (140) $ (31) $ — 
State (50) (50) (61)
Total current taxes (190) (81) (61)
Deferred taxes:      
Federal (163) (210) (219)
State (39) 79  (19)
Total deferred taxes (202) (131) (238)
Total income tax expense $ (392) $ (212) $ (299)
Schedule of Effective Income Tax Rate Reconciliation
The following table presents a reconciliation of the U.S. federal statutory tax rate and our effective tax rate:
  For the Years Ended December 31,
  2022 2021 2020
Federal tax expense, at statutory rate 21.0  % 21.0  % 21.0  %
State income tax expense, net of federal benefit 4.1  % 4.1  % 4.2  %
Change in valuation allowance 2.2  % 1.5  % 0.7  %
Tax credits (1.5) % (4.7) % (10.2) %
Share-based compensation (0.8) % (1.0) % (3.5) %
Impact of nondeductible compensation 0.8  % 0.6  % 2.6  %
Automatic worthless stock deduction —  % —  % (3.5) %
Goodwill impairment —  % —  % 53.7  %
Uncertain tax positions (0.8) % (0.1) % 4.4  %
Audit Settlements —  % (7.6) % —  %
Other, net (0.6) % 0.1  % 0.1  %
Effective tax rate 24.4  % 13.9  % 69.5  %
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities, shown before jurisdictional netting, are presented below:
  For the Years Ended December 31,
  2022 2021
Deferred tax assets:    
Net operating loss carryforwards and tax credits $ 405  $ 681 
Deferred revenue 45  52 
Accrued bonus 28  35 
Expensed costs capitalized for tax 66  9 
Investments 23  20 
Stock based compensation 54  57 
Operating lease liability 94  104 
Other 17  12 
Total deferred tax assets 732  970 
Deferred tax liabilities:    
Depreciation of property and equipment (206) (286)
FCC license (520) (522)
Other intangible assets (234) (263)
Right of use asset (77) (89)
Other —  (5)
Total deferred tax liabilities (1,037) (1,165)
Net deferred tax assets before valuation allowance (305) (195)
Valuation allowance (113) (83)
Total net deferred tax (liability) asset $ (418) $ (278)
Schedule of Uncertain Income Tax Positions
Changes in our unrecognized tax benefits and uncertain tax positions from January 1 through December 31 are set forth below:
  2022 2021
Balance, beginning of year $ 179  $ 433 
Increases in tax positions for prior years 3  9 
Increases in tax positions for current year 31  13 
Decreases in tax positions for prior years (15) (24)
Decreases related to settlement with taxing authorities —  (252)
Balance, end of year $ 198  $ 179