XML 143 R98.htm IDEA: XBRL DOCUMENT v3.22.4
Taxes on Income - Reconciliation Between Effective Tax Rate and US Statutory Rate (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Amount      
U.S. statutory rate applied to income from continuing operations before taxes $ 3,453 $ 2,915 $ 1,231
Differential arising from:      
Foreign earnings (1,835) (1,446) (965)
GILTI and the foreign-derived intangible income deduction 462 (75) 349
State taxes (110) 2 57
R&D tax credit (81) (81) (108)
Tax settlements (10) (275) (13)
Valuation allowances 108 102 37
Restructuring 11 61 105
Acquisition of VelosBio 0 (9) 559
Acquisition of Pandion 0 356 0
Acquisition of OncoImmune 0 0 97
Other (80) (29) (9)
Taxes on income $ 1,918 $ 1,521 $ 1,340
Tax Rate      
U.S. statutory rate applied to income from continuing operations before taxes 21.00% 21.00% 21.00%
Differential arising from:      
Foreign earnings (11.10%) (10.40%) (16.50%)
GILTI and the foreign-derived intangible income deduction 2.80% (0.50%) 6.00%
State taxes (0.70%) 0.00% 1.00%
R&D tax credit (0.50%) (0.60%) (1.80%)
Tax settlements (0.10%) (2.00%) (0.20%)
Valuation allowances 0.70% 0.70% 0.60%
Restructuring 0.10% 0.40% 1.80%
Acquisition of VelosBio 0.00% (0.10%) 9.50%
Acquisition of Pandion 0.00% 2.60% 0.00%
Acquisition of OncoImmune 0.00% 0.00% 1.70%
Other (0.50%) (0.10%) (0.20%)
Total, Tax Rate 11.70% 11.00% 22.90%