Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Net Provision For Income Taxes For Continuing Operations

The following is a summary of our net provision for income taxes for continuing operations:

Year Ended December 31	2020		2019		2018
Current:
U.S. federal	$	558	$	471	$	587
State	8		36		48
Foreign	132		119		95
Total current	698		626		730
Deferred:
U.S. federal	(130)		49		(37)
State	(2)		1		8
Foreign	5		42		26
Total deferred	(127)		92		(3)
Provision for income taxes, net	$	571	$	718	$	727
Net income tax payments	$	764	$	572	$	532

Schedule of Reconciliation From Statutory Federal Income Tax Rate To Effective Income Tax Rate

The reconciliation from the statutory federal income tax rate to our effective income tax rate follows:

Year Ended December 31	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Domestic tax credits	(4.6)		(2.0)		(1.1)
Equity-based compensation	(0.2)		(1.1)		(1.1)
Contract close-outs	—		—		(0.5)
Foreign derived intangible income	(2.1)		(1.4)		(1.2)
State tax on commercial operations, net of federal benefits	0.1		0.7		1.1
Global impact of international operations	1.9		0.2		0.6
Other, net	(0.8)		(0.3)		(1.0)
Effective income tax rate	15.3	%	17.1	%	17.8	%

Schedule of Tax Effects Of Temporary Differences Between Reported Earnings And Taxable Earnings

The tax effects of temporary differences between reported earnings and taxable income consisted of the following:

December 31	2020		2019
Retirement benefits	$	1,042	$	990
Lease liabilities	373		418
Tax loss and credit carryforwards	311		323
Salaries and wages	259		167
Workers’ compensation	167		148
Other	373		367
Deferred assets	2,525		2,413
Valuation allowances	(273)		(291)
Net deferred assets	$	2,252	$	2,122
Intangible assets	$	(1,067)	$	(1,070)
Lease right-of-use assets	(379)		(418)
Contract accounting methods	(311)		(375)
Property, plant and equipment	(270)		(291)
Capital Construction Fund qualified ships	(59)		(164)
Other	(590)		(359)
Deferred liabilities	$	(2,676)	$	(2,677)
Net deferred tax liability	$	(424)	$	(555)

Schedule of Net Deferred Tax Asset (Liability)

Our net deferred tax liability consisted of the following:

December 31	2020		2019
Deferred tax asset	$	37	$	33
Deferred tax liability	(461)		(588)
Net deferred tax liability	$	(424)	$	(555)