Income Taxes

The income tax provision relating to continuing operations consists of the following:



	Three Months Ended September 30,						Nine Months Ended September 30,
(millions)	2014			2013			2014			2013
Current	$	120		$	53		$	213		$	161
Deferred	37			63			61			169
Total Income Tax Provision	$	157		$	116		$	274		$	330
Effective Tax Rate	27.2		%	37.2		%	25.3		%	29.6		%

Our effective tax rate (ETR) for the three and nine months ended September 30, 2014 decreased as compared with the three and nine months ended September 30, 2013 primarily due to our ability to benefit from previously unrecognized foreign tax credits, increased earnings in our foreign jurisdictions with rates that vary from the US statutory rate, and a decrease in our Israeli oil profits tax. Additionally, in July 2013, the Israeli government increased the corporate income tax rate from 25% to 26.5%. The change increased the deferred tax expense for 2013, which resulted in a higher rate for the three months ended September 30, 2013 as compared to the same period of 2014.

In our major tax jurisdictions, the earliest years remaining open to examination are as follows: US – 2011, Equatorial Guinea – 2009 and Israel – 2009.

See Note 3. Divestitures for income taxes associated with discontinued operations.