Income Taxes (Notes) |
6 Months Ended |
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Jun. 27, 2015 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax |
Income Taxes
In the second quarter of 2015, the Company recorded an income tax provision of $1 million due principally to foreign taxes in profitable locations. For the six months ended June 27, 2015, the Company recorded an income tax provision of $4 million due to foreign taxes in profitable locations.
In the second quarter of 2014, the Company recorded an income tax provision of $4 million, consisting of $5 million of foreign taxes in profitable locations, partially offset by $1 million of tax benefits arising from other comprehensive income and Canadian tax credits. For the six months ended June 28, 2014, the Company recorded an income tax provision of $6 million arising from $8 million of foreign taxes in profitable locations, partially offset by $2 million of tax benefits arising from other comprehensive income and Canadian tax credits.
As of June 27, 2015, substantially all of the Company’s U.S. and Canadian deferred tax assets, net of deferred tax liabilities, continue to be subject to a valuation allowance. The realization of these assets is dependent on substantial future taxable income which, as of June 27, 2015, in management’s estimate, is not more likely than not to be achieved.
The Company's total gross unrecognized tax benefits as of June 27, 2015 were $29 million. The Company does not believe it is reasonably possible that other unrecognized tax benefits will materially change in the next 12 months. However, the settlement, resolution or closure of its tax audits is highly uncertain.
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