Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

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

Components of Income Taxes

Components of income taxes for the years ended December 31 were as follows:

	2022			2023			2024
Income before income taxes (in millions)
United States	$	1,532		$	797		$	773
Non-United States	905			525			881
Total	$	2,437		$	1,322		$	1,654
Provision for/(Benefit from) income taxes (in millions)
Current
Federal	$	81		$	190		$	(43)
Non-United States	31			361			156
State and local	12			10			9
Total current	124			561			122
Deferred
Federal	(17)			65			239
Non-United States (a)	341			(627)			37
State and local	—			(1)			—
Total deferred	324			(563)			276
Total	$	448		$	(2)		$	398
Reconciliation of effective tax rate
United States statutory tax rate	21.0		%	21.0		%	21.0		%
United States disregarded entities	(8.9)			4.8			0.5
Non-United States tax rate differential	0.7			(0.9)			0.2
State and local income taxes	0.4			0.5			0.4
Nontaxable foreign currency gains and losses	4.5			(1.5)			(0.7)
Dispositions and restructurings (a)	—			(25.9)			—
United States tax on non-United States earnings	—			—			3.6
Prior year settlements and claims	0.8			(0.8)			—
Other	(0.1)			2.6			(0.9)
Effective tax rate	18.4		%	(0.2)		%	24.1		%

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):

	2023		2024
Deferred tax assets
Net operating loss carryforwards	$	490	$	611
Tax credit carryforwards	—		119
Provision for credit losses	139		99
Other foreign	73		111
Employee benefit plans	14		12
Other	54		56
Total gross deferred tax assets	770		1,008
Less: Valuation allowances	(42)		(45)
Total net deferred tax assets	728		963
Deferred tax liabilities
Leasing transactions	359		692
Other foreign	510		431
Other	6		26
Total deferred tax liabilities	875		1,149
Net deferred tax liability	$	147	$	186

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

	2023		2024
Beginning balance	$	58	$	69
Increase - tax positions in prior periods	24		14
Decrease - tax positions in prior periods	(15)		—
Settlements	(2)		(7)
Lapse of statute of limitations	(1)		(1)
Foreign currency translation adjustments	5		(10)
Ending balance	$	69	$	65