Income Taxes (Tables)

9 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Reconciliation of Income Tax Expense

The table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision.

	Three months ended September 30,						Nine months ended September 30,
(in millions)	2012			2011			2012			2011
Income from continuing operations before income taxes	$	477		$	658		$	781		$	1,218
Provision for income tax at federal statutory rate of 35%	167			230			273			426
Increase (decrease) in income tax from:
State tax – net of federal benefit	60			28			56			40
Production and housing credits	(12		)	(12		)	(48		)	(48		)
Property-related	(20		)	(18		)	(39		)	(38		)
Other	(14		)	4			(25		)	(10		)
Total income tax expense from continuing operations	$	181		$	232		$	217		$	370
Effective tax rate	38		%	35		%	28		%	30		%

Reconciliation of Unrecognized Tax Benefits

The following table provides a reconciliation of unrecognized tax benefits:

(in millions)	2012			2011
Balance at January 1,	$	631		$	565
Tax positions taken during the current year:
Increases	22			53
Tax positions taken during a prior year:
Increases	207			60
Decreases	(29		)	(37		)
Decreases for settlements during the period	—			—
Balance at September 30,	$	831		$	641