XML 67 R35.htm IDEA: XBRL DOCUMENT v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Contingency [Line Items]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The components of the provision for income taxes for the years ended December 31 are as follows:
(in millions)202220212020
Current Provision:  
Federal$4,842 $3,451 $4,098 
State and local855 481 392 
Foreign680 516 491 
Total current provision6,377 4,448 4,981 
Deferred (benefit) provision(673)130 (8)
Total provision for income taxes$5,704 $4,578 $4,973 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows:
(in millions, except percentages)202220212020
Tax provision at the U.S. federal statutory rate$5,532 21.0 %$4,685 21.0 %$4,356 21.0 %
State income taxes, net of federal benefit621 2.4 419 1.9 315 1.5 
Share-based awards - excess tax benefit(110)(0.4)(100)(0.4)(130)(0.6)
Non-deductible compensation150 0.6 144 0.6 134 0.7 
Health insurance tax— — — — 626 3.0 
Foreign rate differential(265)(1.0)(246)(1.1)(164)(0.8)
Other, net(224)(0.9)(324)(1.5)(164)(0.8)
Provision for income taxes$5,704 21.7 %$4,578 20.5 %$4,973 24.0 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] The components of deferred income tax assets and liabilities as of December 31 are as follows:
(in millions)20222021
Deferred income tax assets:  
Accrued expenses and allowances$707 $723 
U.S. federal and state net operating loss carryforwards540 287 
Share-based compensation
154 117 
Nondeductible liabilities
341 296 
Non-U.S. tax loss carryforwards
631 435 
Lease liability
972 1,284 
  Net unrealized losses on investments829 — 
Other-domestic
291 228 
Other-non-U.S.
423 376 
Subtotal4,888 3,746 
Less: valuation allowances(291)(198)
Total deferred income tax assets4,597 3,548 
Deferred income tax liabilities:
U.S. federal and state intangible assets(3,520)(2,658)
Non-U.S. goodwill and intangible assets(550)(512)
Capitalized software
(548)(833)
Depreciation and amortization
(520)(349)
Prepaid expenses(275)(256)
Outside basis in partnerships
(653)(565)
Lease right-of-use asset
(958)(1,267)
Net unrealized gains on investments— (125)
Other-non-U.S.
(342)(248)
Total deferred income tax liabilities(7,366)(6,813)
Net deferred income tax liabilities$(2,769)$(3,265)
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows:
(in millions)202220212020
Gross unrecognized tax benefits, beginning of period$2,310 $1,829 $1,423 
Gross increases:   
Current year tax positions
586 538 416 
Prior year tax positions
206 10 120 
Gross decreases:   
Prior year tax positions
(21)(47)(130)
Statute of limitations lapses
— (20)— 
Gross unrecognized tax benefits, end of period$3,081 $2,310 $1,829