Rendering

Component: (Network and Table)
Network
2305301 - Disclosure - Income Taxes (Tables)
(http://www.caesars.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Provision for income taxes
The components of income before income taxes and the related provision for U.S. and other income taxes were as follows:
 
Year Ended December 31,
(In millions)
2016
 
2015
 
2014
Income before income taxes
 
 
 
 
 
United States
$
790.6

 
$
66.2

 
$
54.0

Outside of the United States
—

 
—

 
—

Total income before income taxes
$
790.6

 
$
66.2

 
$
54.0


 
Year Ended December 31,
(In millions)
2016
 
2015
 
2014
Provision for income taxes
 
 
 
 
 
Current
 
 
 
 
 
Federal
$
378.9

 
$
—

 
$
—

State
3.1

 
—

 
—

Deferred
 
 
 
 
 
Federal
(207.8
)
 
34.2

 
38.4

State
(2.7
)
 
—

 
1.0

Total provision for income taxes
$
171.5

 
$
34.2

 
$
39.4

 
 
Schedule of effective income tax rate reconciliation
The differences between the United States statutory federal income tax rate and the effective tax rate expressed as a percentage of income before taxes were as follows:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Statutory tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Increases/(decreases) in tax resulting from:
 
 
 
 
 
State tax, net of federal tax benefit
0.2

 
0.1

 
1.2

Change in valuation allowance
(11.0
)
 
16.7

 
36.5

Dividends received deduction
(2.6
)
 
—

 
—

Nondeductible expenses from CGP LLC
0.1

 
0.3

 
0.4

Federal tax credits from CGP LLC
(0.1
)
 
(0.4
)
 
(0.5
)
Other
0.1

 
—

 
0.3

Effective tax rate
21.7
 %
 
51.7
 %
 
72.9
 %
 
 
Schedule of deferred tax assets and liabilities
The major components of the Deferred tax assets and liabilities in our Balance Sheets were as follows:
 
December 31,
(In millions)
2016
 
2015
Deferred tax assets
 
 
 
Federal net operating loss carryover
$
—

 
$
2.4

State net operating loss carryovers
0.6

 
1.4

Federal tax credit carryover
—

 
0.8

Indirect tax benefits of state uncertain tax positions
1.0

 
—

Compensation programs
2.3

 
2.1

Investment in CGP LLC
44.9

 
—

Investment in notes from related party
91.1

 
89.6

Other
2.3

 
1.4

Total deferred tax assets
142.2

 
97.7

Less: valuation allowance
(0.9
)
 
(87.7
)
      Total deferred tax assets, less valuation allowance
141.3

 
10.0

 
 
 
 
Deferred tax liabilities
 
 
 
Investment in CGP LLC
—

 
79.1

Prepaid expenses
0.7

 
0.8

Total deferred tax liabilities
0.7

 
79.9

Net deferred tax asset/(liability)
$
140.6

 
$
(69.9
)
 
 
Summary of tax uncertainties
Reserve amounts related to potential income tax liabilities resulting from uncertain tax positions were as follows:
(In millions)
 
Balance at January 1, 2016
$
—

  Additions for tax positions of current year
94.6

  Additions for tax positions of prior years
—

  Reductions for tax positions of prior years
—

  Expiration of statutes
—

Balance at December 31, 2016
$
94.6