INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes components of income tax expense:

	Three months ended September 30,						Nine months ended September 30,
millions	2023			2022			2023			2022
Income before income taxes	$	1,809		$	3,648		$	4,870		$	11,717
Current
Federal	(243)			(297)			(689)			(1,152)
State and Local	(21)			(43)			(53)			(127)
Foreign	(120)			(290)			(482)			(826)
Total current tax expense	$	(384)		$	(630)		$	(1,224)		$	(2,105)
Deferred
Federal	(56)			(264)			(75)			1,718
State and Local	(2)			5			(8)			83
Foreign	8			(13)			(65)			(36)
Total deferred tax benefit (expense)	$	(50)		$	(272)		$	(148)		$	1,765
Total income tax expense	$	(434)		$	(902)		$	(1,372)		$	(340)
Net income	$	1,375		$	2,746		$	3,498		$	11,377
Worldwide effective tax rate	24		%	25		%	28		%	3		%