Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes.

Provision (benefit) for income taxes calculated based on components of earnings (loss) before income taxes

	2024		2023		2022
U.S.	$	(284)	$	(455)	$	1
Non-U.S.		322		522		804
	$	38	$	67	$	805

Provision (benefit) for income taxes

	2024		2023		2022
Current:
U.S.	$	13	$	13	$	14
Non-U.S.		106		114		142
		119		127		156
Deferred:
U.S.		—		(16)		(1)
Non-U.S.		7		41		23
		7		25		22
Total:
U.S.		13		(3)		13
Non-U.S.		113		155		165
	$	126	$	152	$	178

Reconciliation of the provision for income taxes

	2024		2023		2022
Tax provision on pretax earnings at statutory U.S. Federal tax rate	$	8	$	14	$	169
Increase (decrease) in provision for income taxes due to:
Non-U.S. tax rates		12		5		34
Global intangible low taxed income and Foreign-derived intangible income, net of applicable GILTI credits		6		12		48
Goodwill impairment				85
Divestitures and sale leasebacks of land and building						(34)
Tax law changes		(1)		3		(1)
Tax impact of Brazil indirect tax ruling						(6)
Change in valuation allowance		34		85		(36)
Tax attribute expiration		17		7		6
Withholding tax		12		14		24
Non-deductible expenses and taxable gains		36		13		11
Tax credits and incentives		(24)		(34)		(25)
Changes in tax reserves and audit settlements		4		(14)		(4)
Mexico inflationary adjustments		(1)		(5)		(2)
Equity earnings		(17)		(23)		(20)
Intercompany financing		18		(13)		4
Other taxes based on income		6		6		5
Other items		16		(3)		5
Provision for income taxes	$	126	$	152	$	178

Significant components of deferred tax assets and liabilities and deferred taxes included in the Consolidated Balance Sheets

	2024		2023
Deferred tax assets:
Accrued postretirement benefits	$	23	$	23
Foreign tax credit carryovers		144		148
Operating, capital loss and interest carryovers		357		339
Other credit carryovers		29		27
Accrued liabilities		75		75
Pension liabilities		10		28
Operating lease liabilities		50		55
Other		61		86
Total deferred tax assets		749		781
Deferred tax liabilities:
Property, plant and equipment		113		119
Intangibles and deferred software		39		50
Operating lease right-of-use assets		48		53
Total deferred tax liabilities		200		222
Valuation allowance		(544)		(538)
Net deferred taxes	$	5	$	21

Deferred taxes are included in the Consolidated Balance Sheets at December 31, 2024 and 2023 as follows:

	2024		2023
Other assets	$	79	$	107
Deferred taxes		(74)		(86)
Net deferred taxes	$	5	$	21

Reconciliation of the gross unrecognized tax benefits

	2024		2023		2022
Balance at January 1	$	41	$	53	$	95
Additions and reductions for tax positions of prior years				(15)		(10)
Additions based on tax positions related to the current year		5
Reductions due to the lapse of the applicable statute of limitations
Reductions due to settlements		(24)		(1)		(31)
Foreign currency translation		(1)		4		(1)
Balance at December 31	$	21	$	41	$	53
Unrecognized tax benefits, which if recognized, would impact the Company’s effective income tax rate	$	10	$	25	$	37
Accrued interest and penalties at December 31	$	2	$	9	$	8
Interest and penalties included in tax expense for the years ended December 31	$	(8)	$	1	$	(8)