XML 99 R72.htm IDEA: XBRL DOCUMENT v3.22.4
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Earnings/(Loss) before income taxes:      
U.S. $ (140) $ 1,593 $ (10,106)
Non-U.S. 7,853 6,505 3,235
Earnings/(Loss) Before Income Taxes 7,713 8,098 (6,871)
Effective Income Tax Rate Reconciliation, Amount      
U.S. statutory rate 1,620 1,701 (1,443)
GILTI, net of foreign derived intangible income deduction 634 645 685
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland (416) (143) (86)
Internal transfers of intangible and other assets (93) (983) 853
U.S. Federal, state and foreign contingent tax matters (297) 154 136
U.S. Federal research-based credits (142) (165) (165)
Charitable contributions of inventory (94) (42) (36)
Contingent value rights 0 (108) (363)
Non-deductible R&D charges 0 0 2,461
Puerto Rico excise tax credit (144) (152) (147)
State and local taxes (net of valuation allowance) 103 33 103
Foreign and other 197 144 126
Total Provision for Income Taxes $ 1,368 $ 1,084 $ 2,124
Effective Income Tax Rate Reconciliation, Percent      
U.S. statutory rate 21.00% 21.00% 21.00%
GILTI, net of foreign derived intangible income deduction 8.20% 8.00% (10.00%)
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland (5.40%) (1.80%) 1.30%
Internal transfers of intangible and other assets (1.20%) (12.10%) (12.40%)
U.S. Federal, state and foreign contingent tax matters (3.90%) 1.90% (2.00%)
U.S. Federal research-based credits (1.80%) (2.00%) 2.40%
Charitable contributions of inventory (1.20%) (0.50%) 0.50%
Contingent value rights 0.00% (1.30%) 5.30%
Non-deductible R&D charges 0.00% 0.00% (35.80%)
Puerto Rico excise tax credit (1.90%) (1.90%) 2.10%
State and local taxes (net of valuation allowance) 1.30% 0.40% (1.50%)
Foreign and other 2.60% 1.70% (1.80%)
Total 17.70% 13.40% (30.90%)