Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The Provision for income taxes for the years ended December 31 was estimated as follows (in millions):



	2013			2012			2011
Current
Federal	$	185		$	4		$	680
Non-U.S.	169			55			109
State and local	(55		)	(14		)	32
Total current	299			45			821
Deferred
Federal	—			413			(316		)
Non-U.S.	(29		)	14			63
State and local	7			11			41
Total deferred	(22		)	438			(212		)
Provision for income taxes	$	277		$	483		$	609

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the Provision for income taxes with the United States statutory tax rate as a percentage of Income before income taxes, excluding equity in net income of affiliated companies, net income attributable to noncontrolling interests, and income from discontinued operations, for the years ended December 31 is as follows:



	2013		2012		2011
U.S. statutory tax rate	35.0	%	35.0	%	35.0	%
Effect of (in percentage points):
Non-U.S. tax rates under U.S. rate	(2.3	)	(1.6	)	(1.9	)
State and local income taxes	(1.0	)	(1.0	)	1.1
U.S. tax on non-U.S. earnings	(15.0	)	(1.2	)	(10.3	)
Other	1.9		1.1		1.4
Valuation allowance (a)	(2.8	)	(3.8	)	—
Effective tax rate	15.8	%	28.5	%	25.3	%

________


(a)	During 2013, we released a valuation allowance against certain deferred tax assets in Canada and Mexico, resulting in a favorable impact to the income tax provision of $49 million. In 2012, we released a valuation allowance against certain deferred tax assets in Latin America, resulting in a favorable impact to the income tax provision of $64 million.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred tax assets and liabilities were as follows (in millions):



	December 31, 2013			December 31, 2012
Deferred tax assets
Net operating loss carryforwards	$	308		$	366
Provision for credit losses	131			127
Other foreign	148			175
Employee benefit plans	11			13
Foreign tax credits	58			122
Other	270			209
Total gross deferred tax assets	926			1,012
Less: Valuation allowance	(21		)	(68		)
Total net deferred tax assets	905			944
Deferred tax liabilities
Leasing transactions	1,131			1,138
Finance receivables	721			614
Other foreign	466			647
Other	30			30
Total deferred tax liabilities	2,348			2,429

Net deferred tax liability	$	1,443		$	1,485

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The changes in the unrecognized tax benefits for the years ended December 31 were as follows (in millions):



	2013			2012			2011
Beginning balance	$	491		$	535		$	533
Increase - tax positions in prior periods	28			54			25
Increase - tax positions in current period	1			7			—
Decrease - tax positions in prior periods	(68		)	(54		)	(2		)
Settlements	(293		)	(51		)	(17		)
Lapse of statute of limitations	—			—			(4		)
Ending balance	$	159		$	491		$	535