Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

The components of Income before income taxes are as follows for the years ended December 31:

	2024		2023		2022
United States	$	1,084	$	692	$	1,169
International	2,872		2,700		1,491
Total Income before income taxes	$	3,956	$	3,392	$	2,660

Schedule of Provision for Income Taxes

The Provision for income taxes consists of the following for the years ended December 31:

	2024		2023		2022
United States	$	188	$	72	$	199
International	719		865		494
Total Provision for income taxes	$	907	$	937	$	693

Schedule of Components of Deferred Income Tax Benefit

Temporary differences between accounting for financial statement purposes and accounting for tax purposes result in the current provision for taxes being higher (lower) than the total provision for income taxes as follows:

	2024		2023		2022
Goodwill and intangible assets	$	3	$	1	$	106
Property, plant and equipment	12		(13)		2
Pension and other retiree benefits	(6)		68		(1)
Stock-based compensation	(14)		2		(3)
Right-of-use assets/lease liabilities	2		1		(5)
Tax credits and tax loss carryforwards, net of valuation allowance	37		29		8
Deferred withholding tax	(14)		7		8
Research and Experimentation Capitalization	21		29		58
Other, net	(8)		11		(10)
Total deferred tax benefit (provision)	$	33	$	135	$	163

Schedule of Effective Tax Rate Reconciliation

The difference between the statutory U.S. federal income tax rate and the Company’s global effective tax rate as reflected in the Consolidated Statements of Income is as follows:

	2024		2023		2022
Percentage of Income before income taxes
Tax at United States statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	0.5		(0.1)		0.8
Earnings taxed at other than United States statutory rate	4.1		5.4		5.4
Non-deductible goodwill impairment charges	—		—		1.9
Foreign-derived intangible income benefit	(2.6)		(2.4)		(2.6)
Foreign tax matter	—		3.7		—
Other, net	(0.1)		—		(0.4)
Effective tax rate	22.9	%	27.6	%	26.1	%

Schedule of Components of Deferred Tax Assets (Liabilities)

The components of deferred tax assets (liabilities) are as follows at December 31:

	2024		2023
Deferred tax liabilities:
Goodwill and intangible assets	$	(389)	$	(412)
Property, plant and equipment	(397)		(420)
Right-of-use assets	(126)		(126)
Deferred withholding tax	(110)		(96)
Other	(130)		(34)
Total deferred tax liabilities	(1,152)		(1,088)
Deferred tax assets:
Pension and other retiree benefits	272		295
Tax credits and tax loss carryforwards	430		356
Lease liabilities	137		134
Accrued liabilities	223		221
Stock-based compensation	61		75
Research and Experimentation Capitalization	108		87
Other	101		60
Total deferred tax assets	1,332		1,228
Valuation Allowance	$	(328)	$	(287)
Net deferred tax assets	$	1,004	$	941
Net deferred income taxes	$	(148)	$	(147)

The changes in valuation allowance for deferred tax assets are as follows:

	2024		2023		2022
Balance, January 1	$	287	$	129	$	120
Additions
Charged to costs and expenses	56		158		14
Deductions	15		—		5
Balance, December 31	$	328	$	287	$	129

Schedule of Unrecognized Tax Benefits Activity

Unrecognized tax benefits activity for the years ended December 31, 2024, 2023 and 2022 is summarized below:

	2024		2023		2022
Unrecognized tax benefits:
Balance, January 1	$	314	$	298	$	245
Increases as a result of tax positions taken during the current year	37		73		32
Decreases of tax positions taken during prior years	(53)		(61)		(21)
Increases of tax positions taken during prior years	10		6		46
Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations	(3)		(2)		(2)
Effect of foreign currency rate movements	(9)		—		(2)
Balance, December 31	$	296	$	314	$	298