Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

	2023			2022			2021
Current
U.S. federal and state	$	38		$	19		$	(31	)
Non-U.S.		187			112			104
Total current		225			131			73
Deferred
U.S. federal and state		(94	)		160			54
Non-U.S.		(10	)		(7	)		(55	)
Total deferred		(104	)		153			(1	)
Total expense	$	121		$	284		$	72

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	2023			2022			2021
U.S. operations	$	(246	)	$	(343	)	$	(170	)
Non-U.S. operations		424			312			414
Earnings (loss) before income taxes	$	178		$	(31	)	$	244

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

	2023						2022						2021
	$			%			$			%			$			%
U.S. federal income tax rate		37			21			(7	)		21			51			21
Adjustments resulting from:
State and local income taxes, net of federal benefit		(5	)		(3	)		(6	)		19
Non-U.S. income / expense		35			20			(2	)		7			15			6
Credits and tax incentives		9			5			(27	)		87			1
U.S. foreign derived intangible income														(1	)
U.S. tax and withholding tax on non-US earnings		41			23			42			(135	)		14			6
Intercompany sale of certain operating assets		(54	)		(30	)		(1	)		3			(1	)
Settlement and return adjustments		23			13			(7	)		23			5			2
Enacted change in tax rates								(4	)		13			(5	)		(2	)
Goodwill impairment								47			(151	)
Miscellaneous items		7			4			(6	)		19			(7	)		(3	)
Valuation allowance adjustments		28			15			255			(822	)
Effective income tax rate		121			68			284			(916	)		72			30

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

	2023			2022
Net operating loss carryforwards	$	218		$	181
Postretirement benefits, including pensions		65			49
Research and development costs		238			208
Expense accruals		65			49
Other tax credits recoverable		217			241
Capital loss carryforwards		53			51
Inventory reserves		37			32
Postemployment and other benefits		5			4
Intangibles		56
Leasing activities		77			69
Other		75			71
Total		1,106			955
Valuation allowances		(550	)		(512	)
Deferred tax assets		556			443
Unremitted earnings		(16	)		(9	)
Intangibles					(1	)
Depreciation		(58	)		(66	)
Deferred tax liabilities		(74	)		(76	)
Net deferred tax assets	$	482		$	367

Summary of Operating Loss Carryforwards [Table Text Block]

	Deferred						Earliest
	Tax		Valuation			Carryforward	Year of
	Asset		Allowance			Period	Expiration
Net operating losses
U.S. state	$	55	$	(55	)	Various	2023
Brazil		17		(5	)	Unlimited
France		6				Unlimited
Australia		18				Unlimited
Italy		18		(18	)	Unlimited
Germany		5		(5	)	Unlimited
Sweden		3		(3	)	Unlimited
South Africa		8		(8	)	Unlimited
U.K.		16		(10	)	Unlimited
Canada		67		(57	)	20	2026
India		3				5	2028
China		2		(1	)	5	2025
Total	$	218	$	(162	)

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

	2023			2022			2021
Balance, beginning of period	$	102		$	126		$	104
Decrease related to expiration of statute of limitations		(8	)		(6	)		(5	)
Decrease related to prior years tax positions		(5	)		(43	)		(2	)
Increase related to prior years tax positions		5			7			16
Increase related to current year tax positions		18			18			13
Balance, end of period	$	112		$	102		$	126