Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Income Before Income Taxes

	Years ended December 31,
	2019		2018		2017
U.S. companies	$	504	$	472	$	653
Non-U.S. companies		712		1,031		1,004
Income before income taxes	$	1,216	$	1,503	$	1,657

Current and Deferred Amounts of Provision

	Years ended December 31,
	2019		2018		2017
Current:
Federal	$	(82)	$	(256)	$	(20)
State and municipal		(12)		(22)		(21)
Foreign		(354)		(196)		(317)
Deferred:
Federal		64		(34)		(1,617)
State and municipal		13		4		(109)
Foreign		115		67		(70)
Provision for income taxes	$	(256)	$	(437)	$	(2,154)

Reconciliation of the U.S. Statutory Income Tax Rate to Effective Tax Rate

	Years ended December 31,
	2019		2018		2017
Statutory U.S. income tax rate	21.0	%	21.0	%	35.0	%
State income tax, net of federal effect	0.6		0.9		0.8
Global intangible low-taxed income (1)	1.2		3.6
Foreign derived intangible income (1)	(8.5)		(0.6)
Repatriation tax on accumulated previously untaxed ‎  foreign earnings			(1.2)		67.4
Remeasurement of deferred tax assets and liabilities	(0.6)		(0.1)		21.0
Impact of foreign earnings	5.4		(2.3)		(3.9)
IRS settlements & change in reserve	8.5		11.5
Valuation allowance	(3.7)		(3.8)		6.8
Tax credit (1)	(2.8)		(0.7)		(0.4)
Non-deductible expenses	2.1
Other items, net	(2.1)		0.8		3.3
Effective income tax rate	21.1	%	29.1	%	130.0	%

(1)Including a change in estimate from prior year.

Tax Effects of Temporary Differences and Carryforwards of Deferred Tax Assets and Liabilities

	December 31,
	2019		2018
Loss and tax credit carryforwards	$	388	$	479
Other assets		345		45
Asset impairments and restructuring reserves		30		33
Postretirement medical and life benefits		168		162
Other accrued liabilities		218		265
Other employee benefits		345		289
Gross deferred tax assets		1,494		1,273
Valuation allowances		(215)		(317)
Total deferred tax assets		1,279		956
Intangible and other assets		(110)		(96)
Fixed assets		(216)		(256)
Financing leases		(121)
Total deferred tax liabilities		(447)		(352)
Net deferred tax assets	$	832	$	604

Net Deferred Tax Assets

	December 31,
	2019		2018
Deferred tax assets	$	1,157	$	951
Other liabilities		(325)		(347)
Net deferred tax assets	$	832	$	604

Deferred Tax Assets for Loss and Tax Credit Carryforwards

			Expiration
	Amount		2019-2023		2024-2028		2029-2038		Indefinite
Net operating losses	$	340	$	137	$	30	$	28	$	145
Tax credits		48				24		19		5
Totals as of December 31, 2019	$	388	$	137	$	54	$	47	$	150

Reconciliation of Unrecognized Tax Benefits

	2019		2018		2017
Balance at January 1	$	435	$	252	$	243
Additions based on tax positions related to the current year		3		204		1
Additions for tax positions of prior years		2				13
Reductions for tax positions of prior years				(10)
Settlements and lapse of statute of limitations		(378)		(11)		(5)
Balance at December 31	$	62	$	435	$	252