INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes components of income tax expense for the three months ended March 31, 2023 and 2022:

	Three months ended March 31,
millions	2023			2022
Income before income taxes	$	1,734		$	3,083
Current
Federal	(265)			(215)
State and Local	(18)			(34)
Foreign	(171)			(198)
Total current tax expense	$	(454)		$	(447)
Deferred
Federal	(14)			2,213
State and Local	(3)			73
Foreign	—			(46)
Total deferred tax benefit (expense)	$	(17)		$	2,240
Total income tax benefit (expense)	$	(471)		$	1,793
Net income	$	1,263		$	4,876
Worldwide effective tax rate	27		%	(58)		%