Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the net deferred tax assets as reflected on the Consolidated Balance Sheets are as follows:


	December 31,
(in millions)	2025		2024

Deferred tax liabilities
Prepaid assets	$	(4)	$	(4)
Depreciation	(3)		(5)
Software development costs	(2)		—
Tenant improvements	(3)		(3)
Right-of-use leased assets	(19)		(19)
Intangibles	(3)		(3)
Total deferred tax liabilities	(34)		(34)

Deferred tax assets
Accrued incentive compensation	11		12

Workers’ compensation accruals	4		4
Accrued rent	3		2
Software development costs	—		13
Stock-based compensation	15		15
Operating lease liabilities	22		22

Other	2		1
Total deferred tax assets	57		69
Valuation allowance	(1)		(1)
Total net deferred tax assets	56		68
Net deferred tax assets	$	22	$	34

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax expense are as follows:


	Year Ended December 31,
(in millions)	2025		2024		2023

Current income tax expense (benefit)
Federal	$	(7)	$	41	$	49
State	(2)		8		9
Total current income tax expense (benefit)	(9)		49		58

Deferred income tax expense (benefit)
Federal	10		(11)		(3)
State	2		(3)		(1)
Total deferred income tax expense (benefit)	12		(14)		(4)
Total income tax expense	$	3	$	35	$	54

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliation of income tax expense computed at U.S. federal statutory tax rates to the reported income tax expense from continuing operations is as follows:


	Year Ended December 31,
	2025				2024				2023
(in millions)	Amount		Percent		Amount		Percent		Amount		Percent

Expected income tax expense (benefit) at U.S. federal statutory rate	$	(1)	21	%	$	26	21	%	$	47	21	%
State income taxes, net of federal benefit(1)	1		(14)	%	4		3	%	7		3	%



Tax credits
Research and development credit	(3)		70	%	(1)		(1)	%	(1)		(1)	%

Nontaxable or nondeductible Items

Equity compensation	1		(33)	%	1		1	%	(4)		(2)	%
Executive compensation limited under 162(m)	2		(42)	%	3		2	%	2		1	%
Qualified transportation benefits	2		(40)	%	1		1	%	1		1	%
Meals and entertainment	1		(37)	%	1		1	%	2		1	%



Effective tax rate	$	3	(75)	%	$	35	28	%	$	54	24	%

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(1) State and local income taxes in the following states make up the majority (greater than 50%) of the tax effected category:

In 2025, California. In 2024, California, New York, New York City, and Illinois. In 2023, California, New York, and New York City.