XML 115 R98.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Taxes Income Taxes - Reconciliation to US Statutory Rate (Details) - USD ($)
$ in Millions
3 Months Ended 4 Months Ended 8 Months Ended 12 Months Ended
Sep. 30, 2018
Mar. 31, 2017
Dec. 31, 2017
Aug. 31, 2017
Dec. 31, 2018
Dec. 31, 2016
Successor [Member]            
Statutory U.S. federal income tax rate     35.00%   21.00%  
Equity earning effect     0.90%   0.20%  
Effective tax rates on international operations - net     (9.50%)   0.50%  
Acquisitions, divestitures, and ownership restructuring activities [1],[2]     15.80%   (1.60%) [3]  
U.S. research and development credit     0.40%   0.60%  
Exchange gains/losses [4]     (1.80%)   (0.50%)  
SAB 118 Impact of Enactment of U.S. Tax Reform     126.10%   (2.50%) [5]  
Excess tax benefits from stock-compensation     0.10%   0.10%  
Tax settlements and expiration of statue of limitations     0.00%   0.20%  
Goodwill impairment [6]         (21.40%)  
Other, net     1.50%   (1.20%)  
Effective Income Tax Rate     168.50%   (4.60%)  
Successor [Member] | Repatriation Accrual [Member]            
Other Tax Expense         $ 74  
Successor [Member] | Tax charge (benefit) related to The Act [Member]            
Other Tax Expense         121  
Successor [Member] | Brazil Valuation Allowance [Member]            
Other Tax Expense $ (75)       75  
Predecessor [Member]            
Statutory U.S. federal income tax rate       35.00%   35.00%
Equity earning effect       (0.50%)   (0.80%)
Effective tax rates on international operations - net       (11.40%)   (9.20%)
Acquisitions, divestitures, and ownership restructuring activities [2]       5.20%   1.90%
U.S. research and development credit       (0.80%)   (0.70%)
Exchange gains/losses [4]       (12.90%)   1.90%
Excess tax benefits from stock-compensation [7]       (1.70%)    
Tax settlements and expiration of statue of limitations       (3.80%) [8]   (1.10%)
Other, net       (0.80%)   (3.50%)
Effective Income Tax Rate       8.30%   23.50%
Continuing Operations [Member] | Successor [Member]            
(Charge) Benefit related to internal legal entity restructuring     $ 261   $ (25)  
Continuing Operations [Member] | Predecessor [Member]            
Tax benefit related to reduction in company's unrecognized tax benefits   $ 53   $ 53    
[1] Includes a net tax charge of $25 million and a net tax benefit of $261 million for the year ended December 31, 2018 and the period September 1 through December 31, 2017, respectively, related to an internal legal entity restructuring associated with the Intended Business Separations.
[2] See Notes 3 and 4 for additional information.
[3] Includes a net tax charge of $74 million related to repatriation activities to facilitate the Intended Business Separations for the year ended December 31, 2018.
[4] 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 8 and Note 20 under the heading Foreign Currency Risk.
[5] Reflects a net tax charge of $121 million associated with the company's completion of the accounting for the tax effects of The Act for the year ended December 31, 2018.
[6] Reflects the impact of the non-tax-deductible impairment charge for the agriculture reporting unit and corresponding $75 million tax charge associated with a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil for the year ended December 31, 2018.
[7] Reflects the impact of the adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, which was adopted January 1, 2017 and resulted in the recognition of excess tax benefits related to equity compensation in the (benefit from) provision for income taxes on continuing operations.
[8] The period January 1 through August 31, 2017 includes a tax benefit of $53 million for accrued interest reversals (recorded in sundry income (expense) - net).