Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Provision for Income Taxes

(In millions)	2013		2012		2011
Current tax expense (benefit)	$	(268)	$	1,379	$	783
Deferred tax expense (benefit) from temporary differences		(724)		(858)		123
Total	$	(992)	$	521	$	906

Unrecognized tax benefits

December 31 (In millions)	2013		2012
Unrecognized tax benefits	$	3,223	$	3,106
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		2,346		2,253
Accrued interest on unrecognized tax benefits		570		559
Accrued penalties on unrecognized tax benefits		97		101
Reasonably possible reduction to the balance of unrecognized
tax benefits in succeeding 12 months		0-800		0-400
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		0-250		0-350

• Some portion of such reduction might be reported as discontinued operations.

Reconciliation of Unrecognized Tax Benefits

(In millions)	2013		2012
Balance at January 1	$	3,106	$	2,932
Additions for tax positions of the current year		79		181
Reductions for tax positions of the current year		(1)		(9)
Additions for tax positions of prior years		657		522
Reductions for tax positions of prior years		(617)		(377)
Settlements with tax authorities		(1)		(141)
Expiration of the statute of limitations		–		(2)
Balance at December 31	$	3,223	$	3,106

Reconciliation of Income Tax Rate

	2013			2012			2011
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
Increase (reduction) in rate resulting from
Tax on global activities including exports(a)		(45.0)			(18.4)			(14.7)
U.S. business credits(b)		(4.6)			(4.3)			(4.7)
Business Property disposition		-			(4.2)			-
All other - net		1.0			(1.5)			(3.5)
		(48.6)			(28.4)			(22.9)
Actual income tax rate		(13.6)	%		6.6	%		12.1	%

• Included (13.3)% related to the sale of 68.5% of our Swiss consumer finance bank, Cembra Money Bank AG (Cembra), through an initial public offering in 2013.
• U.S. general business credits, primarily the credit for energy produced from renewable sources, the advanced energy project credit and the low-income housing credit.

Schedule of Deferred Tax Assets and Liabilities

December 31 (In millions)	2013		2012
Assets
Non-U.S. loss carryforwards(a)	$	(3,791)	$	(3,049)
Allowance for losses		(2,640)		(1,975)
Investment in global subsidiaries		(1,883)		(1,689)
Other - net		(4,910)		(5,163)
Total deferred income tax assets		(13,224)		(11,876)
Liabilities
Operating leases		6,284		6,141
Financing leases		4,075		4,506
Intangible assets		1,943		1,666
Net unrealized gains on securities		145		314
Cash flow hedges		163		115
Other - net		5,400		5,134
Total deferred income tax liabilities		18,010		17,876
Net deferred income tax liability	$	4,786	$	6,000

(a)Net of valuation allowances of $862 million and $628 million for 2013 and 2012, respectively. Of the net deferred tax asset as of December 31, 2013, of $3,791 million, $17 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2014, through December 31, 2016; $427 million relates to net operating losses that expire in various years ending from December 31, 2017 through December 31, 2028 and $3,347 million relates to net operating loss carryforwards that may be carried forward indefinitely.