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INCOME TAXES
3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES NOTE 15. INCOME TAXES. Our consolidated effective income tax rate was (38.8)% and 59.7% for the three months ended March 31, 2022 and 2021, respectively. The tax rate for 2022 reflects a tax provision on a pre-tax loss. The rate was negative primarily due to losses in foreign jurisdictions where they are not likely to be utilized and the global intangible minimum tax provisions, non-tax benefited asset impairment charges and the net unrealized loss on our interest in AerCap and Baker Hughes for which the loss could not be tax benefited. The rate for 2021 is higher than the U.S. statutory rate primarily due to the cost of global activities, including the base erosion and global minimum tax provisions and from tax expense associated with the unrealized gain in our remaining interest in Baker Hughes. This was partially offset by an adjustment to decrease the 2021 three-month tax rate to be in-line with the lower expected full-year rate and by U.S. business credits.The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2016-2018.