Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components Of Earnings Before Income Taxes by Geographic Region

	Year Ended				Six Months Ended				Year Ended
(In millions)	December 31				December 31				June 30
	2013		2012		2012		2011		2012		2011
			(Unaudited)				(Unaudited)
United States	$	1,509	$	1,054	$	611	$	592	$	1,035	$	2,035
Foreign	515		927		386		189		730		980
	$	2,024	$	1,981	$	997	$	781	$	1,765	$	3,015

Significant Components Of Income Taxes

	Year Ended					Six Months Ended				Year Ended
(In millions)	December 31					December 31				June 30
	2013			2012		2012		2011		2012		2011
				(Unaudited)				(Unaudited)
Current
Federal	$	348		$	213	$	92	$	179	$	300	$	251
State	14			11		9		19		21		10
Foreign	146			194		83		7		118		222
Deferred
Federal	112			144		92		14		66		483
State	(5		)	26		20		3		9		43
Foreign	55			1		7		15		9		(12		)
	$	670		$	589	$	303	$	237	$	523	$	997

Significant Components Of Deferred Tax Liabilities And Assets

	December 31, 2013			December 31, 2012
	(In millions)
Deferred tax liabilities
Property, plant, and equipment	$	1,286		$	1,163
Equity in earnings of affiliates	323			329
Debt exchange	123			140
Inventories	132			89
Other	119			141
	$	1,983		$	1,862
Deferred tax assets
Pension and postretirement benefits	$	267		$	373
Stock compensation	60			67
Foreign tax credit carryforwards	26			32
Foreign tax loss carryforwards	329			344
Capital loss carryforwards	24			25
State tax attributes	74			79
Other	205			105
Gross deferred tax assets	985			1,025
Valuation allowances	(329		)	(173		)
Net deferred tax assets	$	656		$	852
Net deferred tax liabilities	$	1,327		$	1,010
The net deferred tax liabilities are classified as follows:
Current assets	$	—		$	36
Current assets (foreign)	17			—
Current liabilities	(8		)	—
Current liabilities (foreign)	(22		)	(97		)
Noncurrent assets (foreign)	134			318
Noncurrent liabilities	(1,404		)	(1,267		)
Noncurrent liabilities (foreign)	(44		)	—
	$	(1,327	)	$	(1,010	)

Reconciliation Of The Statutory Federal Income Tax Rate To The Company's Effective Tax Rate On Earnings

	Year Ended				Six Months Ended				Year Ended
	December 31				December 31				June 30
	2013		2012		2012		2011		2012		2011
			(Unaudited)				(Unaudited)
Statutory rate	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	0.2		1.5		2.4		2.4		1.4		1.1
Foreign earnings taxed at rates other than the U.S. statutory rate	(3.7	)	(5.7	)	(7.6	)	(7.2	)	(4.8	)	(5.0	)
Foreign currency remeasurement	(0.9	)	(1.3	)	2.6		(0.3	)	(3.3	)	0.9
Income tax adjustment to filed returns	0.5		0.6		(1.5	)	(0.7	)	0.9		(0.2	)
Tax benefit on U.S. biodiesel credits	(5.1	)	—		—		—		—		—
Valuation allowances	8.0		—		—		—		—		—
Other	(0.9	)	(0.4	)	(0.5	)	1.1		0.4		1.3
Effective income tax rate	33.1	%	29.7	%	30.4	%	30.3	%	29.6	%	33.1	%

Unrecognized Tax Benefits

	Unrecognized Tax Benefits
	December 31, 2013			December 31, 2012
	(In millions)
Beginning balance	$	77		$	80
Additions related to current year’s tax positions	—			—
Additions related to prior years’ tax positions	7			6
Reductions related to prior years’ tax positions	—			(1		)
Reductions related to lapse of statute of limitations	(6		)	(1		)
Settlements with tax authorities	(12		)	(7		)
Ending balance	$	66		$	77