INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The reconciliations of income tax expense with federal income taxes at the statutory rate are as follows (in millions of dollars):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Federal income tax	$	39		$	77		$	69		$	151
States income taxes, net of federal benefit	6			9			11			19
Foreign rate difference	4			5			6			10
Fabory Tax Impact, non operating	5			—			(76)			—
Change in valuation allowance	2			2			4			3
Other, net	(1)			1			(2)			—
Income tax expense	$	55		94			$	12		$	183
Effective tax rate	30.2		%	25.6		%	3.9		%	25.5		%