Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income before Provision for Income Taxes, Classified by Source of Income

Income before provision for income taxes, classified by source of income, was as follows:

In millions	2022		2021		2020
U.S.	$	1,845.6	$	2,413.9	$	1,390.4
Outside the U.S.	5,979.8		6,714.0		4,750.3
Income before provision for income taxes *	$	7,825.4	$	9,127.9	$	6,140.7

*Income before provision for income taxes decreased in 2022 primarily due to current and prior year charges and gains detailed in the Net Income and Diluted Earnings Per Share section on page 12 of this Form 10-K, which offset strong operating performance.

Provision for Income Taxes, Classified by Timing and Location of Payment

The provision for income taxes, classified by the timing and location of payment, was as follows:

In millions	2022		2021		2020
U.S. federal	$	517.3	$	887.6	$	554.1
U.S. state	246.3		228.1		119.1
Outside the U.S.	1,230.1		895.3		730.6
Current tax provision	1,993.7		2,011.0		1,403.8
U.S. federal	(80.0)		(177.4)		870.3
U.S. state	(46.2)		(24.1)		73.3
Outside the U.S.	(219.5)		(226.8)		(937.2)
Deferred tax provision	(345.7)		(428.3)		6.4
Provision for income taxes	$	1,648.0	$	1,582.7	$	1,410.2

Net Deferred Tax Liabilities

Net deferred tax (assets) liabilities consisted of:

In millions	December 31, 2022			2021
Lease right-of-use asset		$	3,045.0	$	3,462.7
Property and equipment		1,706.3		1,648.6
Intangible assets		296.7		696.0
Other		595.4		490.8
Total deferred tax liabilities		5,643.4		6,298.1
Lease liability		(3,099.9)		(3,516.9)
Intangible assets		(2,658.9)		(2,524.6)
Property and equipment		(676.3)		(647.1)
Deferred foreign tax credits		(74.5)		(311.5)
Employee benefit plans		(180.6)		(153.6)
Deferred revenue		(165.8)		(121.4)
Operating loss carryforwards		(76.6)		(96.1)
Other		(267.4)		(284.4)
Total deferred tax assets before valuation allowance		(7,200.0)		(7,655.6)
Valuation allowance		1,077.1		1,076.1
Net deferred tax (assets) liabilities		$	(479.5)	$	(281.4)
Balance sheet presentation:
Deferred income taxes		$	1,997.5	$	2,075.6
Other assets-miscellaneous		(2,477.0)		(2,357.0)
Net deferred tax (assets) liabilities		$	(479.5)	$	(281.4)

Statutory U.S. Federal Income Tax Rate Reconciliation to Effective Income Tax Rates

The statutory U.S. federal income tax rate reconciles to the effective income tax rates as follows:

	2022		2021		2020
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of related federal income tax benefit	2.0		1.8		1.8
Foreign income taxed at different rates	1.1		0.9		0.4
Tax impact of intercompany transactions	0.2		0.1		2.1
Global intangible low-tax income ("GILTI")	0.4		0.3		1.2
Foreign-derived intangible income ("FDII")	(4.2)		(2.6)		(3.4)
U.S./Foreign tax law changes	—		(3.9)		(1.8)
Nonoperating expense related to France audit settlement	1.4		—		—
Other, net	(0.8)		(0.3)		1.7
Effective income tax rates	21.1	%	17.3	%	23.0	%

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:

In millions	2022		2021
Balance at January 1	$	1,504.9	$	1,479.2
Decreases for positions taken in prior years	(579.4)		(31.9)
Increases for positions taken in prior years	49.8		26.1
Increases for positions related to the current year	100.3		60.7
Settlements with taxing authorities	(428.1)		(16.8)
Lapsing of statutes of limitations	(0.5)		(12.4)
Balance at December 31(1)	$	647.0	$	1,504.9

(1)Of this amount, $619.6 million and $1,157.5 million are included in Long-term income taxes for 2022 and 2021, respectively, and $27.3 million and $332.0 million are included in Prepaid expenses and other current assets for 2022 and 2021, respectively, on the Consolidated Balance Sheet. The remainder is included in Deferred income taxes on the Consolidated Balance Sheet.