Income Taxes |
6 Months Ended |
|---|---|
Jun. 29, 2019 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes
For the three months ended June 29, 2019, the Company recorded an income tax provision of $2 million, consisting primarily of foreign income taxes in profitable locations. For the three months ended June 30, 2018, the Company recorded an income tax provision of $6 million, consisting primarily of $5 million for U.S. income taxes.
For the six months ended June 29, 2019, the Company recorded an income tax benefit of $11 million, consisting primarily of a $13 million credit to U.S. income taxes due to the completion of certain internal tax structuring and $2 million of foreign income taxes in profitable locations. For the six months ended June 30, 2018, the Company recorded an income tax provision of $14 million consisting primarily of $10 million for U.S. taxes and $4 million of foreign income taxes in profitable locations.
As of June 29, 2019, 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 29, 2019, in management’s estimate, is not more likely than not to be achieved.
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