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Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxes on income

Income Taxes			Year ended December 31
			2021									2020						2019
Income tax expense (benefit)
U.S. federal
Current			$	174								$	(182)					$	(73)
Deferred			1,004									(1,315)						(1,074)
State and local
Current			222									65						153
Deferred			202									(152)						(172)
Total United States			1,602									(1,584)						(1,166)
International
Current			4,854									1,833						4,577
Deferred			(506)									(2,141)						(720)
Total International			4,348									(308)						3,857
Total income tax expense (benefit)			$	5,950								$	(1,892)					$	2,691

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 following table:

			2021									2020						2019
Income (loss) before income taxes
United States			$	9,674								$	(5,700)					$	(5,483)
International			11,965									(1,753)						11,019
Total income (loss) before income taxes			21,639									(7,453)						5,536
Theoretical tax (at U.S. statutory rate of 21% )			4,544									(1,565)						1,163
Effect of U.S. tax reform			—									—						3
Equity affiliate accounting effect			(890)									211						(687)
Effect of income taxes from international operations			2,692									(39)						2,196
State and local taxes on income, net of U.S. federal income tax benefit			216									(65)						(18)
Prior year tax adjustments, claims and settlements 1			362									(236)						192
Tax credits			(173)									(33)						(18)
Other U.S. 1, 2			(801)									(165)						(140)
Total income tax expense (benefit)			$	5,950								$	(1,892)					$	2,691
Effective income tax rate			27.5		%							25.4		%				48.6		%

1 Includes one-time tax costs (benefits) associated with changes in uncertain tax positions.

2 Includes one-time tax costs (benefits) associated with changes in valuation allowances (2021 - $(624); 2020 - $0; 2019 - $0).

Composition of deferred tax balances

The reported deferred tax balances are composed of the following:

												At December 31
			2021									2020
Deferred tax liabilities
Properties, plant and equipment			$	17,169								$	16,603
Investments and other			4,105									5,617
Total deferred tax liabilities			21,274									22,220
Deferred tax assets
Foreign tax credits			(11,718)									(10,585)
Asset retirement obligations/environmental reserves			(4,553)									(4,721)
Employee benefits			(3,037)									(3,856)
Deferred credits			(996)									(1,056)
Tax loss carryforwards			(4,175)									(6,701)
Other accrued liabilities			(239)									(228)
Inventory			(289)									(633)
Operating leases			(1,255)									(1,234)
Miscellaneous			(3,657)									(3,685)
Total deferred tax assets			(29,919)									(32,699)
Deferred tax assets valuation allowance			17,651									17,762
Total deferred taxes, net			$	9,006								$	7,283

Classification of deferred taxes

At December 31, 2021 and 2020, deferred taxes were classified on the Consolidated Balance Sheet as follows:

			At December 31
			2021									2020
Deferred charges and other assets			$	(5,659)								$	(5,286)
Noncurrent deferred income taxes			14,665									12,569
Total deferred income taxes, net			$	9,006								$	7,283

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, 2021, 2020 and 2019. 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.

			2021									2020						2019
Balance at January 1			$	5,018								$	4,987					$	5,070
Foreign currency effects			(1)									2						1
Additions based on tax positions taken in current year			194									253						94
Additions for tax positions taken in prior years			218									437						313
Reductions for tax positions taken in prior years			(36)									(216)						(194)
Settlements with taxing authorities in current year			(18)									(429)						(78)
Reductions as a result of a lapse of the applicable statute of limitations			(87)									(16)						(219)
Balance at December 31			$	5,288								$	5,018					$	4,987

Taxes other than on income

Taxes Other Than on Income
			Year ended December 31
			2021									2020						2019
United States
Import duties and other levies			7									7						2
Property and other miscellaneous taxes			3,378									2,248						1,785
Payroll taxes			302									235						254
Taxes on production			628									317						355
Total United States			4,315									2,807						2,396
International
Import duties and other levies			49									39						35
Property and other miscellaneous taxes			2,225									1,461						1,435
Payroll taxes			113									117						125
Taxes on production			138									75						145
Total International			2,525									1,692						1,740
Total taxes other than on income			$	6,840								$	4,499					$	4,136

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