Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.3.1.900
Income Tax (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Summary of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) include the following as of December 31:

 

         2015              2014      
     (dollars in millions)  

Financing receivable basis difference

    $ (6 )     $ (6 ) 

Other

      (2 )       (0 ) 
  

 

 

     

 

 

  

Gross deferred tax liabilities

      (8 )       (6 ) 
  

 

 

     

 

 

  

Net operating loss (NOL) carryforwards

      9         4   

Equity-based compensation

      2         1   

Other

      0         1   

Valuation allowance

      (3 )       —     
  

 

 

     

 

 

  

Gross deferred tax assets

      8         6   
  

 

 

     

 

 

  

Net deferred tax liabilities

    $ —         $ —     
  

 

 

     

 

 

  
Cash Dividends Paid for Federal Income Tax Purposes

For federal income tax purposes, the cash dividends paid for the years ended December 31, 2015 and 2014 are characterized as follows:

 

     2015     2014  

Common distributions

     

Ordinary income

      23 %      5 % 

Return of capital

      77 %      95 % 
  

 

 

    

 

 

  
     100 %      100 %