Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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):



	2015			2016			2017
Current
Federal	$	(454	)	$	(41	)	$	(6	)
Non-U.S.	161			222			241
State and local	(26		)	(15		)	(9		)
Total current	(319		)	166			226
Deferred
Federal	893			284			(1,016		)
Non-U.S.	93			1			30
State and local	56			55			63
Total deferred	1,042			340			(923		)
Provision for / (Benefit from) income taxes	$	723		$	506		$	(697	)

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 for the years ended December 31 is as follows:



	2015		2016		2017
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	(3.0	)	(3.8	)	(4.0	)
State and local income taxes	1.0		1.3		1.5
U.S. tax on non-U.S. earnings	0.2		(4.9	)	15.6
Enacted change in tax laws	—		—		(78.1	)
Other	(0.2	)	(0.7	)	(0.2	)
Valuation allowance	1.7		—		—
Effective tax rate	34.7	%	26.9	%	(30.2	)%

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

The components of deferred tax assets and liabilities at December 31 were as follows (in millions):



	2016			2017
Deferred tax assets
Net operating loss carryforwards	$	1,207		$	1,310
Provision for credit losses	191			204
Other foreign	83			79
Employee benefit plans	34			33
Foreign tax credits	803			1,244
Other	89			51
Total gross deferred tax assets	2,407			2,921
Less: Valuation allowance	(42		)	(68		)
Total net deferred tax assets	2,365			2,853
Deferred tax liabilities
Leasing transactions	4,479			4,017
Finance receivables	594			523
Other foreign	303			391
Other	14			61
Total deferred tax liabilities	5,390			4,992
Net deferred tax liability	$	3,025		$	2,139

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):



	2015			2016			2017
Beginning balance	$	111		$	91		$	80
Increase - tax positions in prior periods	9			2			18
Increase - tax positions in current period	1			—			1
Decrease - tax positions in prior periods	(22		)	(1		)	(2		)
Settlements	(8		)	(12		)	(7		)
Lapse of statute of limitations	—			—			(7		)
Foreign currency transaction adjustments	—			—			7
Ending balance	$	91		$	80		$	90