Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Income before Income Taxes and Equity Income [Table Text Block]

The following table summarizes income before income taxes and equity income (dollars in millions):



	Years Ended December 31,
	2015			2014		2013
U.S. income	$	5,594		$	1,683	$	4,880
Non-U.S. income (loss)	(70		)	469		768
Income before income taxes and equity income	$	5,524		$	2,152	$	5,648

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The following table summarizes Income tax expense (benefit) (dollars in millions):



	Years Ended December 31,
	2015			2014			2013
Current income tax expense (benefit)
U.S. federal	$	5		$	(23	)	$	(34	)
U.S. state and local	(5		)	154			88
Non-U.S.	860			671			512
Total current income tax expense	860			802			566
Deferred income tax expense (benefit)
U.S. federal	1,001			(581		)	1,049
U.S. state and local	199			(60		)	137
Non-U.S.	(3,957		)	67			375
Total deferred income tax expense (benefit)	(2,757		)	(574		)	1,561
Total income tax expense (benefit)	$	(1,897	)	$	228		$	2,127

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table summarizes a reconciliation of Income tax expense (benefit) compared with the amounts at the U.S. federal statutory income tax rate (dollars in millions):



	Years Ended December 31,
	2015			2014			2013
Income tax expense at U.S. federal statutory income tax rate	$	1,933		$	753		$	1,977
State and local tax expense	115			73			145
Non-U.S. income taxed at other than 35%	(28		)	(72		)	(168		)
U.S. tax on Non-U.S. income	(417		)	(8		)	543
Change in valuation allowance	(3,666		)	(402		)	182
Change in tax laws	29			602			146
Research and manufacturing incentives	(367		)	(279		)	(490		)
Goodwill impairment	—			41			124
Settlements of prior year tax matters	—			(275		)	(473		)
Realization of basis differences in affiliates	—			(256		)	—
Foreign currency remeasurement	209			124			(21		)
Financial penalty under the DPA(a)	315
Other adjustments	(20		)	(73		)	162
Total income tax expense (benefit)	$	(1,897	)	$	228		$	2,127

_________


(a)	Refer to Note 15 for additional information on the DPA.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The following table summarizes the components of temporary differences and carryforwards that give rise to deferred tax assets and liabilities (dollars in millions):



	December 31, 2015			December 31, 2014
Deferred tax assets
Postretirement benefits other than pensions	$	2,712		$	2,958
Pension and other employee benefit plans	6,502			7,503
Warranties, dealer and customer allowances, claims and discounts	5,495			5,512
Property, plants and equipment	1,981			2,323
U.S. capitalized research expenditures	7,413			8,588
U.S. operating loss and tax credit carryforwards(a)	8,623			7,631
Non-U.S. operating loss and tax credit carryforwards(b)	5,826			6,505
Miscellaneous	3,316			3,286
Total deferred tax assets before valuation allowances	41,868			44,306
Less: valuation allowances	(5,021		)	(9,659		)
Total deferred tax assets	36,847			34,647
Deferred tax liabilities
Intangible assets	590			416
Net deferred tax assets	$	36,257		$	34,231

_________


(a)	At December 31, 2015 U.S. operating loss and tax credit carryforwards of $8.0 billion expire by 2035 if not utilized and the remaining balance of $607 million may be carried forward indefinitely.


(b)	At December 31, 2015 Non-U.S. operating loss and tax credit carryforwards of $1.7 billion expire by 2035 if not utilized and the remaining balance of $4.1 billion may be carried forward indefinitely.

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table summarizes activity of the total amounts of unrecognized tax benefits (dollars in millions):



	Years Ended December 31,
	2015			2014			2013
Beginning balance	$	1,877		$	2,530		$	2,745
Additions to current year tax positions	54			184			251
Additions to prior years' tax positions	115			149			276
Reductions to prior years' tax positions	(378		)	(603		)	(535		)
Reductions in tax positions due to lapse of statutory limitations	(201		)	(164		)	(73		)
Settlements	(3		)	(138		)	(132		)
Other	(79		)	(81		)	(2		)
Ending balance	$	1,385		$	1,877		$	2,530