Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2016

Taxes on Income [Abstract]

Income Tax Expense

Year Ended December 31,		2016		2015		2014
Current:
Federal	$	980	$	740	$	747
State		109		99		72
Total current		1,089		839		819
Deferred:
Federal		13		(6)		(23)
State		2		(1)		(2)
Total deferred		15		(7)		(25)
Taxes on income	$	1,104	$	832	$	794

Temporary Differences That Created Deferred Tax Assets and Liabilities

December 31,		2016		2015
Deferred tax assets:
Employee compensation, severance, and benefits	$	216	$	221
Net unrealized loss on available for sale securities		97		80
Facilities lease commitments		25		28
Reserves and allowances		25		28
State and local taxes		17		14
Net operating loss carryforwards		5		6
Other		-		1
Total deferred tax assets		385		378
Valuation allowance		(3)		(4)
Deferred tax assets – net of valuation allowance		382		374
Deferred tax liabilities:
Depreciation and amortization		(114)		(115)
Capitalized internal-use software development costs		(118)		(97)
Other		(7)		(17)
Total deferred tax liabilities		(239)		(229)
Deferred tax asset – net (1)	$	143	$	145

(1) Amounts are included in other assets at December 31, 2016 and 2015, respectively.

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

Year Ended December 31,	2016		2015		2014
Federal statutory income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.4		2.6		2.3
Other (1)	(0.5)		(1.1)		0.2
Effective income tax rate	36.9	%	36.5	%	37.5	%

(1) Includes the impact of the recognition of net tax benefits attributable to changes in estimates for positions taken for tax years 2011 to 2014 in 2015 and 2016.

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

December 31,		2016		2015
Balance at beginning of year	$	48	$	11
Additions for tax positions related to the current year		16		15
Additions for tax positions related to prior years		32		26
Reductions for tax positions related to prior years		(2)		-
Reductions due to lapse of statute of limitations		-		(4)
Reductions for settlements with tax authorities		(1)		-
Balance at end of year	$	93	$	48