Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions

The components of Loss before income taxes were:

Years ended December 31,	2024	2023	2022
U.S.	($12,813)	($2,512)	($5,457)
Non-U.S.	603	507	435
Total	($12,210)	($2,005)	($5,022)

Schedule of Income Tax Expense/(Benefit)

Income tax (benefit)/expense consisted of the following:

Years ended December 31,	2024	2023	2022
Current tax (benefit)/expense
U.S. federal	($277)	$9	($58)
Non-U.S.	184	179	142
U.S. state	14	19	(42)
Total current	(79)	207	42
Deferred tax (benefit)/expense
U.S. federal	(71)	6	(62)
Non-U.S.	3	5	(3)
U.S. state	(234)	19	54
Total deferred	(302)	30	(11)
Total income tax (benefit)/expense	($381)	$237	$31

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the U.S. federal statutory tax to actual income tax (benefit)/expense:

Years ended December 31,	2024			2023			2022
	Amount	Rate		Amount	Rate		Amount	Rate
U.S. federal statutory tax	($2,564)	21.0	%	($421)	21.0	%	($1,054)	21.0	%
Valuation allowance	3,145	(25.8)		1,150	(57.3)		1,199	(23.9)
Federal audit settlement(1)	(490)	4.0
Research and development credits	(409)	3.3		(472)	23.6		(204)	4.1
State income tax provision, net of effects on U.S. federal tax	(223)	1.8		(75)	3.7		(90)	1.8
Tax on non-U.S. activities	113	(0.9)		35	(1.8)		64	(1.3)
Impact of subsidiary shares purchased from noncontrolling interests				(29)	1.5
Other provision adjustments	47	(0.3)		49	(2.5)		116	(2.3)
Income tax (benefit)/expense	($381)	3.1	%	$237	(11.8)	%	$31	(0.6)	%

(1)     In the second quarter of 2024, we recorded a tax benefit of $490 related to the settlement of the 2018-2020 federal tax audit, which excludes an associated $155 valuation expense that is recorded in the Valuation allowance line.

Significant Components of Deferred Tax Assets Net of Deferred Tax Liabilities

Significant components of our deferred tax assets/(liabilities) at December 31 were as follows:

	2024	2023
Inventory and long-term contract methods of income recognition	($4,765)	($5,115)
Federal net operating loss, credit, interest and other carryovers(1)	4,719	2,551
Research expenditures	3,936	2,873
Fixed assets, intangibles and goodwill	(1,526)	(1,566)
State net operating loss, credit, interest and other carryovers(2)	1,353	1,137
Other employee benefits	1,049	1,162
Pension benefits	1,045	1,178
Accrued expenses and reserves	1,029	956
Other postretirement benefit obligations	587	590
Other	473	614
Gross deferred tax assets/(liabilities) before valuation allowance	$7,900	$4,380
Valuation allowance	(7,837)	(4,550)
Net deferred tax assets/(liabilities) after valuation allowance	$63	($170)

(1)     Of the deferred tax asset for federal net operating loss, credit, interest and other carryovers, $1,848 expires on or before December 31, 2044 and $2,871 may be carried over indefinitely.

(2)     Of the deferred tax asset for state net operating loss, credit, interest and other carryovers, $686 expires on or before December 31, 2044 and $667 may be carried over indefinitely.

Net Deferred Tax Assets and Liabilities

Net deferred tax assets/(liabilities) at December 31 were as follows:

	2024	2023
Deferred tax assets	$17,991	$14,743
Deferred tax liabilities	(10,091)	(10,363)
Valuation allowance	(7,837)	(4,550)
Net deferred tax assets/(liabilities)	$63	($170)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2024	2023	2022
Unrecognized tax benefits – January 1	$1,131	$915	$858
Gross increases – tax positions in prior periods		38	17
Gross decreases – tax positions in prior periods	(453)	(3)	(51)
Gross increases – current period tax positions	216	181	91
Gross decreases – current period tax positions
Settlements	(206)
Unrecognized tax benefits – December 31	$688	$1,131	$915