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Income Taxes Income Taxes - Reconciliation to US Statutory Rate (Details) - Continuing Operations [Member] - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statutory U.S. federal income tax rate 21.00% 21.00% 21.00%
Effective tax rates on international operations - net [1] (3.50%) (2.50%) (13.90%)
Acquisitions, divestitures, and ownership restructuring activities [2] (5.40%) (0.10%) (0.30%)
U.S. research and development credit (2.20%) (2.40%) (2.90%)
Exchange gains/losses [3] 3.70% 1.90% 3.50%
State and Local Income Taxes 0.30% 2.10% 4.00%
Impact of Swiss Tax Reform [4] 0.00% 0.20% (27.00%)
Excess tax benefits (tax deficiency) from stock-compensation (0.70%) (0.20%) 1.00%
Tax settlements and expiration of statue of limitations 0.10% 0.00% 0.40%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount [5],[6] $ 0.017 $ 0.010 $ 0.010
Other, net [6] (0.30%) 1.30% 1.20%
Effective Income Tax Rate 14.70% 22.30% (12.00%)
[1] Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results. Includes a tax benefit of $(36) million for the year ended December 31, 2022, relating to the release of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil. Includes a tax benefit of $(51) million for the year ended December 31, 2020, related to a return to accrual adjustment associated with an elective change in accounting method for the 2019 tax year impact of foreign tax provisions.
[2] Includes net tax benefit of $(55) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S. entity's tax characterization, as well as a net tax benefit of $(42) million for the year ended December 31, 2022, related to worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure.
[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 - Supplementary Information, and Note 19 - Financial Instruments, under the heading Foreign Currency Risk.
[4] Reflects tax benefits of $(182) million primarily driven by the recognition of an elective cantonal component of the enactment of the Federal Act on Tax Reform and AHV Financing ("Swiss Tax Reform") for the year ended December 31, 2020.
[5] Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.
[6] Prior year amounts in "other - net" and "repatriation of foreign earnings" for the years ended December 31, 2021 and 2020 have been reclassified from their previous presentation to conform to the current year's presentation.