Income Taxes

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s effective income tax rate on income from continuing operations for the first nine months of 2015 was 109.1% as compared to 24.4% for the first nine months of 2014. The components of the effective tax rates for both periods were as follows:

	Nine Months Ended September 30,
	2015					2014
(dollars in millions)	Tax Provision			Tax Rate		Tax Provision			Tax Rate
Provision (benefit) based on international income (loss) distribution	$	27		20.5	%	$	167		22.7	%
Adjustments to income tax provision:
Impairments with no tax benefit	113			86.0		9			1.3
Asset impairments	(5		)	(3.8	)	—			—
Finalization of prior year returns	—			—		4			0.5
Changes in valuation allowances	8			6.3		3			0.4
Accrual adjustments and other	1			0.1		(4		)	(0.5	)
Tax provision	$	144		109.1	%	$	179		24.4	%