Basis difference upon disposition of subsidiary

  
The Company estimates the following future benefit payments, which are calculated using the same actuarial assumptions used to measure the accumulated other postretirement benefit obligation as of December 31, 2021: 

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| In millions |  |
| 2022 | $ | 12  |  |
| 2023 | 12  |  |
| 2024 | 12  |  |
| 2025 | 12  |  |
| 2026 | 12  |  |
| 2027-2031 | 60  |  |

  
Pursuant to various collective bargaining agreements, the Company also contributes to multiemployer health and welfare plans that cover certain union-represented employees. The plans provide postretirement health care and life insurance benefits to certain employees who meet eligibility requirements. The Company’s contributions to multiemployer health and welfare plans totaled $60 million, $54 million and $57 million in 2021, 2020 and 2019, respectively.   
10.Income Taxes  
The income tax provision for continuing operations consisted of the following for the years ended December 31, 2021, 2020 and 2019:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| In millions | 2021 |  | 2020 |  | 2019 |
| Current: |  |  |  |  |  |
| Federal | $ | 2,285  |  |  | $ | 2,615  |  |  | $ | 2,450  |  |
| State | 665  |  |  | 518  |  |  | 565  |  |
|  | 2,950  |  |  | 3,133  |  |  | 3,015  |  |
| Deferred: |  |  |  |  |  |
| Federal | (306) |  |  | (450) |  |  | (535) |  |
| State | (122) |  |  | (114) |  |  | (114) |  |
|  | (428) |  |  | (564) |  |  | (649) |  |
| Total | $ | 2,522  |  |  | $ | 2,569  |  |  | $ | 2,366  |  |

  
The following table is a reconciliation of the statutory income tax rate to the Company’s effective income tax rate for continuing operations for the years ended December 31, 2021, 2020 and 2019:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2021 |  | 2020 |  | 2019 |
| Statutory income tax rate | 21.0  | % |  | 21.0  | % |  | 21.0  | % |
| State income taxes, net of federal tax benefit | 4.1  |  |  | 3.2  |  |  | 4.0  |  |
| Health insurer fee | —  |  |  | 2.2  |  |  | —  |  |
| Basis difference upon disposition of subsidiary | —  |  |  | (1.2) |  |  | —  |  |
| Prior year refund claim  | (1.2) |  |  | —  |  |  | —  |  |
| Other | 0.3  |  |  | 1.1  |  |  | 1.3  |  |
| Effective income tax rate | 24.2  | % |  | 26.3  | % |  | 26.3  | % |

  
  
  
  
  
  
  
  
  
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