INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes components of income tax expense:

	Three months ended March 31,
millions	2024			2023
Income before income taxes	$	1,010		$	1,734
Current
Federal	(243)			(265)
State and Local	(12)			(18)
Foreign	(140)			(171)
Total current tax expense	$	(395)		$	(454)
Deferred
Federal	81			(14)
State and Local	2			(3)
Foreign	8			—
Total deferred tax benefit (expense)	$	91		$	(17)
Total income tax expense	$	(304)		$	(471)
Net income	$	706		$	1,263
Worldwide effective tax rate	30		%	27		%