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Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Taxes on income

Income Taxes	Year ended December 31
	2019					2018				2017
Income tax expense (benefit)
U.S. federal
Current	$	(73	)			$	(181	)		$	(382	)
Deferred	(1,074		)			738				(2,561		)
State and local
Current	153					183				(97		)
Deferred	(172		)			(16		)		66
Total United States	(1,166		)			724				(2,974		)
International
Current	4,577					4,662				3,634
Deferred	(720		)			329				(708		)
Total International	3,857					4,991				2,926
Total income tax expense (benefit)	$	2,691				$	5,715			$	(48	)

Reconciliation between the U.S. statutory federal income tax rate and the company's effective income tax rate

The reconciliation between the U.S. statutory federal income tax rate and the company’s effective income tax rate is detailed in the table on the following page:

	2019					2018				2017
Income (loss) before income taxes
United States	$	(5,483	)			$	4,730			$	(441	)
International	11,019					15,845				9,662
Total income (loss) before income taxes	5,536					20,575				9,221
Theoretical tax (at U.S. statutory rate of 21% - 2019 & 2018, 35% - 2017)	1,163					4,321				3,227
Effect of U.S. tax reform	3					(26		)		(2,020		)
Equity affiliate accounting effect	(687		)			(1,526		)		(1,373		)
Effect of income taxes from international operations*	2,196					3,132				(130		)
State and local taxes on income, net of U.S. federal income tax benefit	(18		)			162				39
Prior year tax adjustments, claims and settlements	192					(51		)		(39		)
Tax credits	(18		)			(163		)		(199		)
Other U.S.*	(140		)			(134		)		447
Total income tax expense (benefit)	$	2,691				$	5,715			$	(48	)
Effective income tax rate	48.6		%			27.8		%		(0.5		)%

^* Includes one-time tax costs (benefits) associated with changes in uncertain tax positions and valuation allowances.

Composition of deferred tax balances

The reported deferred tax balances are composed of the following:

						At December 31
	2019					2018
Deferred tax liabilities
Properties, plant and equipment	$	17,251				$	20,159
Investments and other*	5,372					4,943
Total deferred tax liabilities	22,623					25,102
Deferred tax assets
Foreign tax credits	(9,840		)			(10,536		)
Asset retirement obligations/environmental reserves	(4,329		)			(5,328		)
Employee benefits	(3,454		)			(2,787		)
Deferred credits	(1,083		)			(1,373		)
Tax loss carryforwards	(5,262		)			(4,948		)
Other accrued liabilities	(441		)			(595		)
Inventory	(662		)			(505		)
Operating leases *	(1,211		)			—
Miscellaneous	(2,796		)			(3,481		)
Total deferred tax assets	(29,078		)			(29,553		)
Deferred tax assets valuation allowance	15,965					15,973
Total deferred taxes, net	$	9,510				$	11,522

* Beginning in 2019, the deferred taxes that are the consequence of ASU 2016-02 are included in the “Investments and other” and “Operating lease” balances above. Refer to Note 5, “Lease Commitments” beginning on page 62.

Classification of deferred taxes

At December 31, 2019 and 2018, deferred taxes were classified on the Consolidated Balance Sheet as follows:

	At December 31
	2019					2018
Deferred charges and other assets	$	(4,178	)			$	(4,399	)
Noncurrent deferred income taxes	13,688					15,921
Total deferred income taxes, net	$	9,510				$	11,522

Changes to the Company's unrecognized tax benefits

The following table indicates the changes to the company’s unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017. The term “unrecognized tax benefits” in the accounting standards for income taxes refers to the differences between a tax position taken or expected to be taken in a tax return and the benefit measured and recognized in the financial statements. Interest and penalties are not included.

	2019					2018				2017
Balance at January 1	$	5,070				$	4,828			$	3,031
Foreign currency effects	1					(6		)		43
Additions based on tax positions taken in current year	94					239				1,853
Additions for tax positions taken in prior years	313					153				1,166
Reductions for tax positions taken in prior years	(194		)			(131		)		(90		)
Settlements with taxing authorities in current year	(78		)			(13		)		(1,173		)
Reductions as a result of a lapse of the applicable statute of limitations	(219		)			—				(2		)
Balance at December 31	$	4,987				$	5,070			$	4,828

Taxes other than on income

Taxes Other Than on Income
	Year ended December 31
	2019					2018				2017
United States
Excise and similar taxes on products and merchandise*	$	4,990				$	4,830			$	4,398
Consumer excise taxes collected on behalf of third parties*	(4,990		)			(4,830		)		—
Import duties and other levies	2					15				11
Property and other miscellaneous taxes	1,785					1,577				1,824
Payroll taxes	254					246				241
Taxes on production	355					325				206
Total United States	2,396					2,163				6,680
International
Excise and similar taxes on products and merchandise*	2,801					3,031				2,791
Consumer excise taxes collected on behalf of third parties*	(2,801		)			(3,031		)		—
Import duties and other levies	35					37				45
Property and other miscellaneous taxes	1,435					2,370				2,563
Payroll taxes	125					132				137
Taxes on production	145					165				115
Total International	1,740					2,704				5,651
Total taxes other than on income	$	4,136				$	4,867			$	12,331

^* Beginning in 2018, these taxes are netted in “Taxes other than on income” in accordance with ASU 2014-09. Refer to Note 24, “Revenue” beginning on page 89.

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