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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Income before Provision for Income Taxes, Classified by Source of Income | Income before provision for income taxes, classified by source of income, was as follows:
In millions | 2019 |  |  | 2018 |  |  | 2017 |
U.S. | $ | 2,159.1 |  |  | $ | 2,218.0 |  |  | $ | 2,242.0 |
Outside the U.S. | 5,859.0 |  |  | 5,598.1 |  |  | 6,331.5 |
Income before provision for income taxes | $ | 8,018.1 |  |  | $ | 7,816.1 |  |  | $ | 8,573.5 |
Provision for Income Taxes, Classified by Timing and Location of Payment | The provision for income taxes, classified by the timing and location of payment, was as follows:
In millions | 2019 |  |  | 2018 |  |  | 2017 |
U.S. federal | $ | 521.8 |  |  | $ | 292.9 |  |  | $ | 2,030.8 |
U.S. state | 194.7 |  |  | 183.9 |  |  | 169.8 |
Outside the U.S. | 1,126.5 |  |  | 1,312.4 |  |  | 1,217.0 |
Current tax provision | 1,843.0 |  |  | 1,789.2 |  |  | 3,417.6 |
U.S. federal | 38.5 |  |  | 145.7 |  |  | (120.1 | )
U.S. state | 20.0 |  |  | 18.7 |  |  | 12.8 |
Outside the U.S. | 91.2 |  |  | (61.8 | ) |  | 70.9 |
Deferred tax provision | 149.7 |  |  | 102.6 |  |  | (36.4 | )
Provision for income taxes | $ | 1,992.7 |  |  | $ | 1,891.8 |  |  | $ | 3,381.2 |
Net Deferred Tax Liabilities | Net deferred tax liabilities consisted of:
In millions | December 31, 2019 |  |  | 2018 |
Lease right-of-use asset |  |  | $ | 3,296.8 |  |  | $ | — |
Property and equipment |  |  | 1,316.4 |  |  | 1,288.9 |
Intangible assets |  |  | 334.8 |  |  | 312.3 |
Other |  |  | 511.1 |  |  | 347.9 |
Total deferred tax liabilities |  |  | 5,459.1 |  |  | 1,949.1 |
Lease liability |  |  | (3,331.1 | ) |  | — |
Intangible assets |  |  | (1,051.0 | ) |  | (1,081.5 | )
Property and equipment |  |  | (585.6 | ) |  | (658.9 | )
Deferred foreign tax credits |  |  | (311.2 | ) |  | (216.6 | )
Employee benefit plans |  |  | (192.3 | ) |  | (213.3 | )
Deferred revenue |  |  | (145.5 | ) |  | (138.9 | )
Operating loss carryforwards |  |  | (81.5 | ) |  | (45.7 | )
Other |  |  | (323.6 | ) |  | (269.2 | )
Total deferred tax assets before valuation allowance |  |  | (6,021.8 | ) |  | (2,624.1 | )
Valuation allowance |  |  | 741.9 |  |  | 671.1 |
Net deferred tax (assets) liabilities |  |  | $ | 179.2 |  |  | $ | (3.9 | )
Balance sheet presentation: |  |  |  |  |
Deferred income taxes |  |  | $ | 1,318.1 |  |  | $ | 1,215.5 |
Other assets-miscellaneous |  |  | (1,138.9 | ) |  | (1,219.4 | )
Net deferred tax (assets) liabilities |  |  | $ | 179.2 |  |  | $ | (3.9 | )
Statutory U.S. Federal Income Tax Rate Reconciliation to Effective Income Tax Rates | The statutory U.S. federal income tax rate reconciles to the effective income tax rates as follows:
| 2019 |  |  | 2018 |  |  | 2017 |
Statutory U.S. federal income tax rate | 21.0 | % |  | 21.0 | % |  | 35.0 | %
State income taxes, net of related federal income tax benefit | 1.8 |  |  | 1.8 |  |  | 1.2 |
Foreign income taxed at different rates | 1.6 |  |  | 1.5 |  |  | (4.6 | )
Transition tax | — |  |  | 1.0 |  |  | 13.7 |
US net deferred tax liability remeasurement | — |  |  | — |  |  | (6.0 | )
Foreign tax credit redetermination regulations | (1.0 | ) |  | — |  |  | — |
Other, net | 1.5 |  |  | (1.1 | ) |  | 0.1 |
Effective income tax rates | 24.9 | % |  | 24.2 | % |  | 39.4 | %
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits | The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:
In millions | 2019 |  |  | 2018 |
Balance at January 1 | $ | 1,342.8 |  |  | $ | 1,180.4 |
Decreases for positions taken in prior years | (18.3 | ) |  | (64.1 | )
Increases for positions taken in prior years | 107.1 |  |  | 180.8 |
Increases for positions related to the current year | 88.3 |  |  | 75.1 |
Settlements with taxing authorities | (68.6 | ) |  | (24.1 | )
Lapsing of statutes of limitations | (12.2 | ) |  | (5.3 | )
Balance at December 31(1) | $ | 1,439.1 |  |  | $ | 1,342.8 |
(1) Of this amount, $1,285.3 million and $1,313.7 million are included in Long-term income taxes for 2019 and 2018, respectively, and $138.8 million and $12.5 million are included in Prepaid expenses and other current assets for 2019 and 2018, respectively, on the Consolidated Balance Sheet. The remainder is included in Deferred income taxes on the Consolidated Balance Sheet.

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