Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

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

Provision for / (Benefit from) income taxes for the years ended December 31 was estimated as follows (in millions):

	2017			2018			2019
Current
Federal	$	(6	)	$	72		$	396
Non-U.S.	241			153			168
State and local	(9		)	(81		)	169
Total current	226			144			733
Deferred
Federal	(1,016		)	283			(12		)
Non-U.S.	30			(125		)	104
State and local	63			101			(55		)
Total deferred	(923		)	259			37
Provision for / (Benefit from) income taxes	$	(697	)	$	403		$	770

	2017		2018		2019
Income before income taxes (in millions)
U.S.	$	1,331	$	1,717	$	2,160
Non-U.S.	979		910		838
Total	$	2,310	$	2,627	$	2,998

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

A reconciliation of the Provision for / (Benefit from) income taxes with the United States statutory tax rate as a percentage of Income before income taxes for the years ended December 31 is as follows:

	2017		2018		2019
U.S. statutory tax rate	35.0	%	21.0	%	21.0	%
Effect of (in percentage points):
Non-U.S. tax rates under U.S. rate	(4.0	)	1.7		1.3
State and local income taxes	1.5		0.6		2.7
Dispositions and restructurings	—		(8.9	)	—
U.S. tax on non-U.S. earnings	15.6		0.4		(0.1	)
Enacted change in tax laws	(78.1	)	—		—
Other	(0.2	)	0.5		0.8
Effective tax rate	(30.2	)%	15.3	%	25.7	%

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

omponents of deferred tax assets and liabilities at December 31 were as follows (in millions):

	2018			2019
Deferred tax assets
Net operating loss carryforwards	$	339		$	378
Provision for credit losses	175			141
Other foreign	106			190
Employee benefit plans	28			24
Foreign tax credits	1,297			669
Other	50			46
Total gross deferred tax assets	1,995			1,448
Less: Valuation allowance	(81		)	(43		)
Total net deferred tax assets	1,914			1,405
Deferred tax liabilities
Leasing transactions	3,126			2,674
Finance receivables	639			584
Other foreign	524			568
Other	4			1
Total deferred tax liabilities	4,293			3,827
Net deferred tax liability	$	2,379		$	2,422

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

	2018			2019
Beginning balance	$	90		$	115
Increase - tax positions in prior periods	28			40
Increase - tax positions in current period	7			—
Decrease - tax positions in prior periods	(6		)	(8		)
Settlements	(1		)	(36		)
Lapse of statute of limitations	—			—
Foreign currency translation adjustments	(3		)	(2		)
Ending balance	$	115		$	109