Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Analysis of the Provision for Income Taxes

An analysis of the provision for income taxes follows:

	Year Ended December 31
	2016			2015			2014
Current income taxes
United States	$	523		$	223		$	350
State	53			56			48
Other countries	361			394			387
Total	937			673			785
Deferred income taxes
United States	(40		)	(180		)	67
State	31			(74		)	(16		)
Other countries	(6		)	(1		)	20
Total	(15		)	(255		)	71
Total provision for income taxes	$	922		$	418		$	856

Income before Income Taxes

Income from continuing operations before income taxes is earned in the following tax jurisdictions:

	Year Ended December 31
	2016		2015		2014
United States	$	2,088	$	451	$	1,571
Other countries	921		884		684
Total income before income taxes	$	3,009	$	1,335	$	2,255

Deferred Income Tax assets (Liabilities)

Deferred income tax assets and liabilities are composed of the following:

	December 31
	2016			2015
Deferred tax assets
Pension and other postretirement benefits	$	499		$	682
Tax credits and loss carryforwards	450			443
Share based compensation	86			82
Other	512			517
	1,547			1,724
Valuation allowances	(225		)	(274		)
Total deferred tax assets	1,322			1,450
Deferred tax liabilities
Pension and other postretirement benefits	15			254
Property, plant and equipment, net	1,079			1,118
Investments in subsidiaries	190			186
Goodwill	83			64
Other	253			217
Total deferred tax liabilities	1,620			1,839
Net deferred tax assets (liabilities)	$	(298	)	$	(389	)

Reconciliation of Income Tax Provision

Presented below is a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:

	Year Ended December 31
	2016		2015		2014
U.S. statutory rate applied to income before income taxes	35.0	%	35.0	%	35.0	%
Rate of state income taxes, net of federal tax benefit	1.8		(0.9	)	0.7
Statutory rates other than U.S. statutory rate	(2.7	)	(6.9	)	(3.0	)
Venezuela deconsolidation, balance sheet remeasurement and inflationary impacts	(0.1	)	4.5		4.9
Uncertain tax positions adjustment(a)	—		3.7		—
Routine tax incentives	(4.0	)	(7.4	)	(3.6	)
Net tax cost on foreign income	0.1		5.1		3.6
Other - net(b)	0.5		(1.8	)	0.4
Effective income tax rate	30.6	%	31.3	%	38.0	%

Unrecognized Income Tax Benefits

Presented below is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits:

	2016			2015			2014
Balance at January 1	$	406		$	416		$	473
Gross increases for tax positions of prior years	20			80			36
Gross decreases for tax positions of prior years	(104		)	(61		)	(91		)
Gross increases for tax positions of the current year	39			59			87
Settlements	(29		)	(63		)	(77		)
Other	(11		)	(25		)	(12		)
Balance at December 31	$	321		$	406		$	416

Summary of Income Tax Examinations

As of December 31, 2016, the following tax years remain subject to examination for the major jurisdictions where we conduct business:

Jurisdiction	Years
United States	2014 to 2016
United Kingdom	2012 to 2016
Brazil	2011 to 2016
Korea	2014 to 2016
China	2007 to 2016