Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year ended December 31,
	2021		2020			2019
U.S. companies	$	1,254	$	(71	)	$	504
Non-U.S. companies		1,143		694			712
Income before income taxes	$	2,397	$	623		$	1,216

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

	Year ended December 31,
	2021			2020			2019
Current:
Federal	$	(172	)	$	88		$	(82	)
State and municipal		(13	)		(16	)		(12	)
Foreign		(290	)		(203	)		(354	)
Deferred:
Federal		(97	)		7			64
State and municipal		(7	)		3			13
Foreign		88			10			115
Provision for income taxes	$	(491	)	$	(111	)	$	(256	)

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

	Year ended December 31,
	2021			2020			2019
Statutory U.S. income tax rate		21.0	%		21.0	%		21.0	%
State income tax, net of federal effect		1.0			1.4			0.6
Global intangible low-taxed income		0.2			(0.5	)		1.2
Foreign derived intangible income		(1.3	)					(8.5	)
Remeasurement of deferred tax assets and liabilities					(13.4	)		(0.6	)
Differential arising from foreign earnings (1)		2.0			15.2			5.4
IRS settlements & change in reserve		1.6			12.1			8.5
Valuation allowance		(0.5	)		2.5			(3.7	)
Tax credits		(2.6	)		(29.7	)		(2.8	)
Stock compensation		(1.5	)		(1.7	)		(0.6	)
Legal entity rationalization					(2.2	)
Intercompany loan adjustment					6.2			(0.5	)
Non-deductible expenses		1.4			7.0			2.1
Other items, net		(0.8	)		(0.1	)		(1.0	)
Effective income tax rate		20.5	%		17.8	%		21.1	%

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

	December 31,
	2021			2020
Loss and tax credit carryforwards	$	375		$	637
Other assets		281			269
Asset impairments and restructuring reserves		30			29
Postretirement medical and life benefits		154			171
Other accrued liabilities		354			162
Other employee benefits		329			337
Gross deferred tax assets		1,523			1,605
Valuation allowances		(138	)		(167	)
Total deferred tax assets		1,385			1,438
Intangible and other assets		(103	)		(95	)
Fixed assets		(300	)		(375	)
Finance leases		(174	)		(160	)
Total deferred tax liabilities		(577	)		(630	)
Net deferred tax assets	$	808		$	808

Schedule of Net Deferred Tax Assets [Table Text Block]

	December 31,
	2021			2020
Deferred tax assets	$	1,066		$	1,121
Other liabilities		(258	)		(313	)
Net deferred tax assets	$	808		$	808

Summary of Tax Credit Carryforwards [Table Text Block]

			Expiration
	Amount			2022-2026		2027-2031		2032-2041	Indefinite
Net operating losses	$	303	$	102	$	16	$	41	$	144
Tax credits		72		7		1		59		5
Balance as of December 31, 2021	$	375	$	109	$	17	$	100	$	149

Summary of Valuation Allowance [Table Text Block]

Deferred Tax Valuation Allowance	Balance at beginning of period		Additions		Net deductions and other		Balance at end of period
Year ended December 31, 2021	$	167	$	13	$	42	$	138
Year ended December 31, 2020	$	215	$	27	$	75	$	167
Year ended December 31, 2019	$	317	$	10	$	112	$	215

Summary of Income Tax Contingencies [Table Text Block]

	2021			2020			2019
Balance at January 1	$	131		$	62		$	435
Additions based on tax positions related to the current year		54			19			3
Additions for tax positions of prior years		17			53			2
Reductions for tax positions of prior years		(21	)
Settlements and lapse of statute of limitations		(3	)		(3	)		(378	)
Balance at December 31	$	178		$	131		$	62