Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule Of Earnings From Continuing Operations Before Income Taxes

Earnings from continuing operations before income taxes for the years ended December 31 were as follows ($ in millions):

	2020		2019		2018
United States	$	1,655	$	854	$	801
International	2,840		2,451		2,161
Total	$	4,495	$	3,305	$	2,962

Schedule Of Provision For Income Taxes

The provision for income taxes from continuing operations for the years ended December 31 were as follows ($ in millions):

	2020		2019		2018
Current:
Federal U.S.	$	(321)	$	453	$	283
Non-U.S.	580		800		461
State and local	72		35		64
Deferred:
Federal U.S.	530		(297)		(201)
Non-U.S.	(16)		(128)		(12)
State and local	4		10		(39)
Income tax provision	$	849	$	873	$	556

Schedule Of Deferred Income Tax

Deferred income tax assets and liabilities as of December 31 were as follows ($ in millions):

	2020		2019
Deferred tax assets:
Allowance for doubtful accounts	$	24	$	19
Inventories	99		73
Pension and postretirement benefits	259		231
Environmental and regulatory compliance	27		22
Other accruals and prepayments	341		195
Stock-based compensation expense	68		69
Operating lease liabilities	215		194
Tax credit and loss carryforwards	569		703
Valuation allowances	(264)		(261)
Total deferred tax asset	1,338		1,245
Deferred tax liabilities:
Property, plant and equipment	(50)		(113)
Insurance, including self-insurance	(713)		(272)
Basis difference in LYONs	(11)		(14)
Operating lease ROU assets	(204)		(186)
Goodwill and other intangibles	(3,814)		(2,312)
Total deferred tax liability	(4,792)		(2,897)
Net deferred tax liability	$	(3,454)	$	(1,652)

Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Tax Rate

The effective income tax rate from continuing operations for the years ended December 31 varies from the U.S. statutory federal income tax rate as follows:

	Percentage of Pretax Earnings
	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in tax rate resulting from:
State income taxes (net of federal income tax benefit)	1.1	%	0.8	%	0.9	%
Foreign rate differential	(1.6)	%	(1.4)	%	(0.9)	%
Resolution and expiration of statutes of limitation of uncertain tax positions	(0.7)	%	(2.1)	%	(1.7)	%
Research credits, uncertain tax positions and other	0.7	%	9.3	%	0.3	%
Excess tax benefits from stock-based compensation	(1.6)	%	(1.2)	%	(1.0)	%
TCJA - revaluation of U.S. deferred income taxes	—	%	—	%	(1.6)	%
TCJA - Transition Tax	—	%	—	%	1.8	%
Effective income tax rate	18.9	%	26.4	%	18.8	%

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding amounts accrued for potential interest and penalties related to both continuing and discontinued operations, is as follows ($ in millions):

	2020		2019		2018
Unrecognized tax benefits, beginning of year	$	1,181	$	986	$	737
Additions based on tax positions related to the current year	47		71		43
Additions for tax positions of prior years	24		197		325
Reductions for tax positions of prior years	(20)		(16)		(22)
Acquisitions, divestitures and other	(30)		7		9
Lapse of statute of limitations	(13)		(51)		(53)
Settlements	(38)		(12)		(42)
Effect of foreign currency translation	24		(1)		(11)
Unrecognized tax benefits, end of year	$	1,175	$	1,181	$	986