Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes from Continuing Operations

The components of the income tax provision are as follows:

Provision (benefit) for income taxes	Year ended Dec. 31,
(in millions)	2015			2014			2013
Current taxes:
Federal	$	551		$	1,273		$	714
Foreign	306			337			286
State and local	109			155			66
Total current tax expense	966			1,765			1,066
Deferred tax expense (benefit):
Federal	114			(672		)	536
Foreign	(1		)	(98		)	(30		)
State and local	(66		)	(83		)	20
Total deferred tax expense (benefits)	47			(853		)	526
Provision for income taxes	$	1,013		$	912		$	1,592

Components of Income (Loss) before Taxes

The components of income before taxes are as follows:

Components of income before taxes	Year ended Dec. 31,
(in millions)	2015		2014		2013
Domestic	$	2,698	$	2,456	$	2,428
Foreign	1,537		1,107		1,349
Income before taxes	$	4,235	$	3,563	$	3,777

Components of Net Deferred Tax Liability Included in Accrued Taxes and Other Expenses

The components of our net deferred tax liability are as follows:

Net deferred tax liability	Dec. 31,
(in millions)	2015			2014
Depreciation and amortization	$	2,631		$	2,646
Lease financings	569			761
Securities valuation	156			230
Pension obligation	155			117
Equity investments	113			115
Employee benefits	(470		)	(616		)
Reserves not deducted for tax	(274		)	(536		)
Credit losses on loans	(102		)	(113		)
Other assets	(109		)	(99		)
Other liabilities	110			277
Net deferred tax liability	$	2,779		$	2,782

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate

The statutory federal income tax rate is reconciled to our effective income tax rate below:

Effective tax rate	Year ended Dec. 31,
	2015		2014		2013
Federal rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefit	0.6		1.3		1.6
Leverage lease adjustment	(1.3	)	(1.1	)	(2.1	)
Tax-exempt income	(2.5	)	(3.3	)	(3.1	)
Foreign operations	(6.6	)	(3.0	)	(4.4	)
Tax credits	(1.4	)	(0.8	)	(2.0	)
Tax litigation	—		—		16.5
Carryback claim	—		(4.7	)	—
Nondeductible litigation expense	—		2.1		—
Other – net	0.1		0.1		0.6
Effective tax rate	23.9	%	25.6	%	42.1	%

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block]

Unrecognized tax positions
(in millions)	2015			2014			2013
Beginning balance at Jan. 1, – gross	$	669		$	866		$	340
Prior period tax positions:
Increases	13			58			570
Decreases	(21		)	(257		)	(19		)
Current period tax positions	14			19			21
Settlements	(26		)	(17		)	(46		)
Ending balance at Dec. 31, – gross	$	649		$	669		$	866