XML 66 R40.htm IDEA: XBRL DOCUMENT v3.22.0.1
Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Taxes  
Income before income taxes

​

​

​

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

​

​

​

For the year ended December 31:

    

2021

    

2020

    

2019

Income/(loss) from continuing operations before income taxes

​

​

​

​

​

​

​

​

​

U.S. operations

 

$

(2,654)

​

$

(2,349)

​

$

(874)

Non-U.S. operations

​

​

7,491

​

​

4,921

​

​

8,080

Total income from continuing operations before income taxes

 

$

4,837

​

$

2,572

​

$

7,206

​

​

​

​

​

​

​

​

​

​

Components of the provision for income taxes by geographic operations and taxing jurisdiction

​

​

​

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

​

​

​

For the year ended December 31:

    

2021

    

2020

    

2019

U.S. operations

 

$

(969)

​

$

1,913

​

$

(419)

Non-U.S. operations

​

​

1,093

​

​

(3,273)

​

​

479

Total continuing operations provision for/(benefit from) income taxes

 

$

124

​

$

(1,360)

​

$

60

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

​

​

​

For the year ended December 31:

    

2021

    

2020

    

2019

U.S. federal

​

​

​

​

​

​

​

​

​

Current

 

$

374

​

$

312

​

$

327

Deferred

​

​

(1,358)

​

​

1,102

​

​

(873)

​

 

$

(984)

​

$

1,414

​

$

(546)

U.S. state and local

​

​

​

​

​

​

​

​

​

Current

 

$

161

​

$

345

​

$

(55)

Deferred

​

​

(370)

​

​

(358)

​

​

(85)

​

 

$

(209)

​

$

(13)

​

$

(140)

Non-U.S.

​

​

​

​

​

​

​

​

​

Current

 

$

1,342

​

$

1,208

​

$

1,376

Deferred

​

​

(25)

​

​

(3,969)

​

​

(630)

​

 

$

1,317

​

$

(2,761)

​

$

746

Total continuing operations provision for/(benefit from) income taxes

 

$

124

​

$

(1,360)

​

$

60

Discontinued operations provision for/(benefit from) income taxes

​

​

714

​

​

484

​

​

670

Provision for social security, real estate, personal property and other taxes

​

​

3,227

​

​

3,199

​

​

3,304

Total taxes included in net income

 

$

4,065

​

$

2,322

​

$

4,034

​

​

​

​

​

​

​

​

​

​

Effective income tax rate reconciliation

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the year ended December 31:

    

2021

    

2020

    

2019

​

Statutory rate

 

21

%

21

%

21

%

Enactment of U.S. tax reform

 

—

​

—

​

2

​

Tax differential on foreign income

 

(10)

​

(31)

​

(14)

​

Intra-entity IP sale

 

—

​

(37)

​

—

​

Domestic incentives

 

(5)

​

(9)

​

(6)

​

State and local

 

(3)

​

0

​

(2)

​

Other

 

0

​

3

​

0

​

Effective rate

 

3

%

(53)

%

1

%

​

​

​

​

​

​

​

​

Percentages rounded for disclosure purposes.

Components of deferred tax assets and liabilities

Deferred Tax Assets

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

 

At December 31:

    

2021

    

2020

​

Retirement benefits

 

$

3,142

​

$

3,700

​

Leases

​

​

1,061

​

​

1,149

​

Share-based and other compensation

​

​

661

​

​

579

​

Domestic tax loss/credit carryforwards

​

​

1,619

​

​

1,746

​

Deferred income

​

​

630

​

​

661

​

Foreign tax loss/credit carryforwards

​

​

983

​

​

818

​

Bad debt, inventory and warranty reserves

​

​

390

​

​

324

​

Depreciation

​

​

249

​

​

139

​

Hedging losses

​

​

26

​

​

576

​

Restructuring charges

​

​

216

​

​

253

​

Accruals

​

​

305

​

​

483

​

Intangible assets

​

​

2,929

​

​

3,540

​

Capitalized research and development

​

​

2,161

​

​

1,387

​

Other

​

​

1,280

​

​

1,352

​

Gross deferred tax assets

​

​

15,652

​

​

16,707

​

Less: valuation allowance

​

​

883

​

​

850

​

Net deferred tax assets

 

$

14,769

​

$

15,857

​

​

​

​

​

​

​

​

​

*

Deferred Tax Liabilities

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

​

At December 31:

    

2021

    

2020

    

Goodwill and intangible assets

 

$

2,290

​

$

2,635

​

GILTI deferred taxes

​

​

3,257

​

​

4,119

​

Leases and right-of-use assets

​

​

1,314

​

​

1,584

​

Depreciation

​

​

518

​

​

646

​

Retirement benefits

​

​

1,971

​

​

1,209

​

Software development costs

​

​

1,016

​

​

1,007

​

Deferred transition costs

​

​

42

​

​

200

​

Undistributed foreign earnings

​

​

131

​

​

276

​

Other

​

​

817

​

​

734

​

Gross deferred tax liabilities

 

$

11,356

​

$

12,410

​

​

​

​

​

​

​

​

​

Reconciliation of the beginning and ending amount of unrecognized tax benefits

​

​

​

​

​

​

​

​

​

​

​

($ in millions)

​

​

​

​

​

​

​

​

​

​

​

2021

    

2020

    

2019

Balance at January 1

​

$

8,568

​

$

7,146

​

$

6,759

Additions based on tax positions related to the current year

​

​

934

​

​

1,690

​

​

816

Additions for tax positions of prior years

​

​

247

​

​

159

​

​

779

Reductions for tax positions of prior years (including impacts due to a lapse of statute)

​

​

(688)

​

​

(408)

​

​

(922)

Settlements

​

​

(352)

​

​

(19)

​

​

(286)

Balance at December 31

​

$

8,709

​

$

8,568

​

$

7,146

​

​

​

​

​

​

​

​

​

​