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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Reconciliation Between Effective Tax Rate and U.S. Statutory Rate

A reconciliation between the effective tax rate and the U.S. statutory rate is as follows:

	2017							2016							2015
	Amount				Tax Rate			Amount				Tax Rate			Amount				Tax Rate
U.S. statutory rate applied to income before taxes	$	2,282			35.0	%		$	1,631			35.0	%		$	1,890			35.0	%
Differential arising from:
Provisional impact of the TCJA	2,625				40.3			—				—			—				—
Impact of purchase accounting adjustments, including amortization	713				10.9			623				13.4			797				14.8
Valuation allowances	632				9.7			(5		)		(0.1	)		39				0.7
Restructuring	142				2.2			145				3.1			167				3.1
State taxes	77				1.2			173				3.7			159				2.9
U.S. health care reform legislation	74				1.1			68				1.4			66				1.2
Foreign currency devaluation related to Venezuela	—				—			—				—			321				5.9
Foreign earnings	(1,725		)		(26.5	)		(1,646		)		(35.3	)		(2,144		)		(39.7	)
Tax settlements	(356		)		(5.5	)		—				—			(417		)		(7.7	)
Unremitted foreign earnings	—				—			(30		)		(0.6	)		260				4.8
Other (1)	(361		)		(5.5	)		(241		)		(5.2	)		(196		)		(3.6	)
	$	4,103			62.9	%		$	718			15.4	%		$	942			17.4	%

⁽¹⁾  Other includes the tax effect of contingency reserves, research credits, losses on foreign subsidiaries and miscellaneous items.

Income Before Taxes

Income before taxes consisted of:

Years Ended December 31	2017				2016				2015
Domestic	$	3,483			$	518			$	2,247
Foreign	3,038				4,141				3,154
	$	6,521			$	4,659			$	5,401

Taxes on Income

Taxes on income consisted of:

Years Ended December 31	2017				2016				2015
Current provision
Federal	$	5,585			$	1,166			$	732
Foreign	1,229				916				844
State	(90		)		157				130
	6,724				2,239				1,706
Deferred provision
Federal	(2,958		)		(1,255		)		(552		)
Foreign	75				(225		)		(163		)
State	262				(41		)		(49		)
	(2,621		)		(1,521		)		(764		)
	$	4,103			$	718			$	942

Deferred Income Taxes

Deferred income taxes at December 31 consisted of:

	2017								2016
	Assets				Liabilities				Assets				Liabilities
Intangibles	$	307			$	2,435			$	86			$	3,854
Inventory related	29				499				30				660
Accelerated depreciation	28				642				28				927
Unremitted foreign earnings	—				33				—				2,044
Pensions and other postretirement benefits	498				192				727				109
Compensation related	314				—				438				—
Unrecognized tax benefits	156				—				383				—
Net operating losses and other tax credit carryforwards	654				—				437				—
Other	1,088				19				1,248				46
Subtotal	3,074				3,820				3,377				7,640
Valuation allowance	(900		)						(268		)
Total deferred taxes	$	2,174			$	3,820			$	3,109			$	7,640
Net deferred income taxes					$	1,646							$	4,531
Recognized as:
Other assets	$	573							$	546
Deferred income taxes					$	2,219							$	5,077

Unrecognized Tax Benefits

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

	2017				2016				2015
Balance January 1	$	3,494			$	3,448			$	3,534
Additions related to current year positions	146				196				198
Additions related to prior year positions	520				75				53
Reductions for tax positions of prior years (1)	(1,038		)		(90		)		(59		)
Settlements (1)	(1,388		)		(92		)		(184		)
Lapse of statute of limitations	(11		)		(43		)		(94		)
Balance December 31	$	1,723			$	3,494			$	3,448

⁽¹⁾  Amounts reflect the settlements with the IRS as discussed below.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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