Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Geographic Allocation of Income and Provision for Income Taxes

Geographic Allocation of Income and Provision for Income Taxes	Successor			Predecessor
(In millions)	For the Period September 1 through December 31, 2017			For the Period January 1 through August 31, 2017			Year Ended 2016			Year Ended 2015
(Loss) Income from continuing operations before income taxes
Domestic	$	(811	)	$	409		$	1,415		$	1,301
Foreign	(775		)	1,382			1,308			721
(Loss) Income from continuing operations before income taxes	$	(1,586	)	$	1,791		$	2,723		$	2,022
Current tax expense (benefit)
Federal	$	216		$	(563	)	$	4		$	155
State and local	22			(11		)	9			2
Foreign	187			282			539			420
Total current tax expense (benefit)	$	425		$	(292	)	$	552		$	577
Deferred tax (benefit) expense
Federal	$	(2,790	)	$	476		$	22		$	135
State and local	(48		)	(8		)	(29		)	4
Foreign	(260		)	(27		)	96			(141		)
Total deferred tax (benefit) expense	$	(3,098	)	$	441		$	89		$	(2	)
(Benefit from) Provision for income taxes on continuing operations	(2,673		)	149			641			575
Net Income from continuing operations	$	1,087		$	1,642		$	2,082		$	1,447

Reconciliation to US Statutory Rate

Reconciliation to U.S. Statutory Rate	Successor		Predecessor
	For the Period September 1 through December 31, 2017		For the Period January 1 through August 31, 2017		Year Ended 2016		Year Ended 2015
Statutory U.S. federal income tax rate	35.0	%	35.0	%	35.0	%	35.0	%
Equity earning effect	0.9		(0.5	)	(0.8	)	(0.7	)
Lower effective tax rates on international operations - net	(9.5	)	(11.4	)	(9.2	)	(9.7	)
Acquisitions, divestitures and ownership restructuring activities 1, 2	15.8		5.2		1.9		(0.2	)
U.S. research and development credit	0.4		(0.8	)	(0.7	)	(1.5	)
Exchange gains/losses 3	(1.8	)	(12.9	)	1.9		10.2
Impact of U.S. Tax Reform	126.1
Excess tax benefits from stock compensation4	0.1		(1.7	)
Tax settlements and expiration of statute of limitations5	—		(3.8	)	(1.1	)	(1.5	)
Other - net	1.5		(0.8	)	(3.5	)	(3.2	)
Effective tax rate	168.5	%	8.3	%	23.5	%	28.4	%

1. See Notes 3 and 4 for additional information.

2. Includes a net tax benefit of $261 million related to an internal legal entity restructuring associated with the Intended Business Separations.

3. Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 and Note 18 under the heading Foreign Currency Risk.

4. Reflects the impact of the adoption of Accounting Standards Update ("ASU") 2016-09, which resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations. See Note 2 for additional information.

5. The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income - net).

Deferred Tax Balances

Deferred Tax Balances at December 31	2017 (Successor)					2016 (Predecessor)
(In millions)	Assets			Liabilities		Assets			Liabilities
Property	$	—		$	1,160	$	—		$	742
Tax loss and credit carryforwards	1,690			—		1,808			—
Accrued employee benefits	1,988			68		4,529			410
Other accruals and reserves	333			39		617			222
Intangibles	284			6,286		210			1,345
Inventory	130			597		163			138
Long-term debt	109			—		—			—
Investments	23			453		126			230
Unrealized exchange gains/losses	—			71		—			346
Other – net	260			121		257			86
Subtotal	$	4,817		$	8,795	$	7,710		$	3,519
Valuation allowances	(1,378		)	—		(1,308		)	—
Total	$	3,439		$	8,795	$	6,402		$	3,519
Net Deferred Tax (Liability) Asset	$	(5,356	)			$	2,883

Operating Loss and Tax Credit Carryforwards [Table Text Block]

Operating Loss and Tax Credit Carryforwards	Deferred Tax Asset
(In millions)	2017 (Successor)		2016 (Predecessor)
Operating loss carryforwards
Expire within 5 years	$	42	$	41
Expire after 5 years or indefinite expiration	1,483		1,482
Total operating loss carryforwards	$	1,525	$	1,523
Tax credit carryforwards
Expire within 5 years	$	10	$	10
Expire after 5 years or indefinite expiration	155		275
Total tax credit carryforwards	$	165	$	285
Total Operating Loss and Tax Credit Carryforwards	$	1,690	$	1,808

Total Gross Unrecognized Tax Benefits

Total Gross Unrecognized Tax Benefits	Successor			Predecessor
	For the Period September 1 through December 31, 2017			For the Period January 1 through August 31, 2017			Year Ended 2016			Year Ended 2015
(In millions)
Total unrecognized tax benefits as of beginning of period	$	436		$	348		$	558		$	735
Decreases related to positions taken on items from prior years	(2		)	(19		)	(41		)	(98		)
Increases related to positions taken on items from prior years	9			3			32			13
Increases related to positions taken in the current year	19			19			32			32
Settlement of uncertain tax positions with tax authorities	1			(6		)	(205		)	(58		)
Decreases due to expiration of statutes of limitations	(5		)	(81		)	(30		)	(30		)
Exchange loss (gain)	1			1			2			(36		)
Total unrecognized tax benefits as of end of period	$	459		$	265		$	348		$	558
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	76		$	188		$	253		$	386
Total amount of interest and penalties (benefit) recognized in Provision for income taxes on continuing operations	$	1		$	(27	)	$	10		$	(14	)
Total accrual for interest and penalties associated with unrecognized tax benefits	$	25		$	22		$	71		$	88

Tax Year Subject to Examination

Tax Years Subject to Examination by Major Tax Jurisdiction at Dec 31,	Earliest Open Year
Jurisdiction
Brazil	2012
Canada	2011
China	2014
Denmark	2003
Germany	2006
India	2001
The Netherlands	2014
Switzerland	2012
United States:
Federal income tax	2012
State and local income tax	2004