Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Earnings From Continuing Operations Before Income Taxes

Earnings from continuing operations before income taxes for the years ended December 31 were as follows ($ in millions):

	2022		2021		2020
United States	$	3,054	$	2,500	$	1,655
Non-U.S.	5,238		5,098		2,840
Total	$	8,292	$	7,598	$	4,495

Schedule of Provision for Income Taxes

The provision for income taxes from continuing operations for the years ended December 31 were as follows ($ in millions):

	2022		2021		2020
Current:
Federal U.S.	$	271	$	183	$	(321)
Non-U.S.	1,229		1,134		580
State and local	142		163		72
Deferred:
Federal U.S.	(331)		(156)		530
Non-U.S.	(159)		(23)		(16)
State and local	(69)		(50)		4
Income tax provision	$	1,083	$	1,251	$	849

Schedule of Deferred Income Tax

Deferred income tax assets and liabilities as of December 31 were as follows ($ in millions):

	2022		2021
Deferred tax assets:
Allowance for doubtful accounts	$	17	$	19
Inventories	118		93
Pension and postretirement benefits	17		105
Environmental and regulatory compliance	39		38
Other accruals and prepayments	406		299
Stock-based compensation expense	105		76
Operating lease liabilities	238		252
Research and development expense	243		49
Tax credit and loss carryforwards	479		544
Valuation allowances	(236)		(242)
Total deferred tax asset	1,426		1,233
Deferred tax liabilities:
Property, plant and equipment	(92)		(79)
Insurance, including self-insurance	(803)		(520)
Operating lease right-of-use assets	(219)		(235)
Goodwill and other intangibles	(3,270)		(3,962)
Total deferred tax liability	(4,384)		(4,796)
Net deferred tax liability	$	(2,958)	$	(3,563)

Reconciliation of the Statutory Federal Income Tax Rate to the Effective Tax Rate

The effective income tax rate from continuing operations for the years ended December 31 varies from the U.S. statutory federal income tax rate as follows:

	Percentage of Pretax Earnings
	2022		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in tax rate resulting from:
State income taxes (net of federal income tax benefit)	1.3	%	1.1	%	1.1	%
Non-U.S. rate differential	(2.8)	%	(2.0)	%	(1.6)	%
Resolution and expiration of statutes of limitation of uncertain tax positions	(0.2)	%	(3.0)	%	(0.7)	%
Realignment of businesses	(4.9)	%	—	%	—	%
Research credits, uncertain tax positions and other	(0.8)	%	0.5	%	0.7	%
Excess tax benefits from stock-based compensation	(0.5)	%	(1.1)	%	(1.6)	%
Effective income tax rate	13.1	%	16.5	%	18.9	%

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding amounts accrued for potential interest and penalties related to both continuing and discontinued operations, is as follows ($ in millions):

	2022		2021		2020
Unrecognized tax benefits, beginning of year	$	1,095	$	1,175	$	1,181
Additions based on tax positions related to the current year	44		47		47
Additions for tax positions of prior years	49		166		24
Reductions for tax positions of prior years	(10)		(100)		(20)
Acquisitions, divestitures and other	6		53		(30)
Lapse of statute of limitations	(16)		(219)		(13)
Settlements	(7)		(4)		(38)
Effect of foreign currency translation	(22)		(23)		24
Unrecognized tax benefits, end of year	$	1,139	$	1,095	$	1,175