Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Reconciliation of Total Provision for Income Taxes with Amounts Computed at Federal Tax Rate of 35%

The following table reconciles the total provision for income taxes recorded in the consolidated statement of income with the amounts computed at the statutory federal tax rate of 35%.

TABLE 82: INCOME TAXES	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2014			2013			2012
Tax at Statutory Rate	$	416.6		$	376.4		$	347.3
Tax Exempt Income		(4.9	)		(6.2	)		(8.0	)
Leveraged Lease Adjustments		(3.4	)		(2.3	)		(12.0	)
Foreign Tax Rate Differential		(44.1	)		(27.6	)		(27.1	)
State Taxes, net		29.6			26.3			20.4
Other		(15.4	)		(22.4	)		(15.6	)
Provision for Income Taxes	$	378.4		$	344.2		$	305.0

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

TABLE 83: UNRECOGNIZED TAX BENEFITS
(In Millions)	2014			2013
Balance at January 1	$	15.6		$	19.4
Additions for Tax Positions Taken in Prior Years		3.0			2.4
Reductions for Tax Positions Taken in Prior Years		(5.5	)		(4.4	)
Reductions Resulting from Expiration of Statutes		(1.2	)		(1.8	)
Balance at December 31	$	11.9		$	15.6

Components of Consolidated Provision for Income Taxes

The components of the consolidated provision for income taxes for each of the three years ended December 31 are as follows:

TABLE 84: PROVISION FOR INCOME TAXES	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2014			2013			2012
Current Tax Provision:
Federal	$	291.5		$	185.6		$	140.5
State		47.2			24.6			21.4
Non-U.S.		76.1			67.4			63.4
Total		414.8			277.6		$	225.3
Deferred Tax Provision:
Federal		(31.1	)		53.9		$	66.0
State		(1.6	)		14.1			10.6
Non-U.S.		(3.7	)		(1.4	)		3.1
Total		(36.4	)		66.6			79.7
Provision for Income Taxes	$	378.4		$	344.2		$	305.0

Tax Charges (Benefits) Recorded Directly to Stockholders' Equity

In addition to the amounts shown above, tax charges (benefits) have been recorded directly to stockholders’ equity for the following items:

TABLE 85: TAX CHARGES (BENEFITS) RECORDED DIRECTLY TO STOCKHOLDERS’ EQUITY	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2014		2013		2012
Current Tax Benefit for Employee Stock Options and Other Stock-Based Plans	$	8.8	$	3.0	$	2.3
Tax Effect of Other Comprehensive Income		18.6		4.3		18.7

Deferred Tax Liabilities and Assets

Deferred tax liabilities and assets have been computed as follows:

TABLE 86: DEFERRED TAX LIABILITIES	DECEMBER 31,
(In Millions)	2014			2013			2012
Deferred Tax Liabilities:
Lease Financing	$	388.6		$	392.0		$	409.1
Software Development		316.1			299.0			277.8
Accumulated Depreciation		24.1			22.0			19.7
Compensation and Benefits		63.5			112.2			29.7
State Taxes, net		62.3			63.3			54.7
Other Liabilities		157.5			104.0			170.9
Gross Deferred Tax Liabilities		1,012.1			992.5			961.9
Deferred Tax Assets:
Allowance for Credit Losses		103.5			107.8			114.7
Other Assets		126.7			85.0			118.4
Gross Deferred Tax Assets		230.2			192.8			233.1
Valuation Reserve		(3.9	)		(3.9	)		(3.9	)
Deferred Tax Assets, net of Valuation Reserve		226.3			188.9			229.2
Net Deferred Tax Liabilities	$	785.8		$	803.6		$	732.7