11. Income Tax

Income before taxes which was subject to US and non-US income taxes was as follows:

	(Stated in millions)

	First Quarter
	2014		2013
United States	$	524	$	421
Outside United States		1,553		1,196
	$	2,077	$	1,617

Schlumberger recorded pretax charges of $92 million outside of the US during the first quarter of 2013. These charges are included in the table above and are more fully described in Note 2 — Charges and Credits.

The components of net deferred tax assets (liabilities) were as follows:

	(Stated in millions)

	Mar. 31,			Dec. 31,
	2014			2013
Postretirement benefits	$	240		$	236
Intangible assets		(1,488	)		(1,502	)
Investments in non-US subsidiaries		(282	)		(282	)
Other, net		123			128
	$	(1,407	)	$	(1,420	)

The above deferred tax balances at both March 31, 2014 and December 31, 2013, respectively, were net of valuation allowances relating to net operating losses in certain countries of $249 million.

The components of consolidated Taxes on income were as follows:

	(Stated in millions)

	First Quarter
	2014			2013
Current:
United States - Federal	$	147		$	116
United States - State		7			15
Outside United States		336			248
	$	490		$	379
Deferred:
United States - Federal	$	7		$	18
United States - State		(1	)		-
Outside United States		(27	)		9
	$	(21	)	$	27
	$	469		$	406

A reconciliation of the US statutory federal tax rate of 35% to the consolidated effective income tax rate follows:

	First Quarter
	2014			2013
US federal statutory rate		35	%		35	%
US state income taxes		-			1
Non-US income taxed at different rates		(11	)		(12	)
Charges (See Note 2)		-			1
Other		(1	)		-
		23	%		25	%