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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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			2021						2020						2019
U.S.			$	2,413.9					$	1,390.4					$	2,159.1
Outside the U.S.			6,714.0						4,750.3						5,859.0
Income before provision for income taxes *			$	9,127.9					$	6,140.7					$	8,018.1

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			2021						2020						2019
U.S. federal			$	887.6					$	554.1					$	521.8
U.S. state			228.1						119.1						194.7
Outside the U.S.			895.3						730.6						1,126.5
Current tax provision			2,011.0						1,403.8						1,843.0
U.S. federal			(177.4)						870.3						38.5
U.S. state			(24.1)						73.3						20.0
Outside the U.S.			(226.8)						(937.2)						91.2
Deferred tax provision			(428.3)						6.4						149.7
Provision for income taxes			$	1,582.7					$	1,410.2					$	1,992.7

Net Deferred Tax Liabilities

Net deferred tax (assets) liabilities consisted of:

In millions			December 31, 2021												2020
Lease right-of-use asset									$	3,462.7					$	3,427.3
Property and equipment									1,648.6						1,600.4
Intangible assets									696.0						1,046.2
Other									490.8						322.4
Total deferred tax liabilities									6,298.1						6,396.3
Lease liability									(3,516.9)						(3,462.0)
Intangible assets									(2,524.6)						(2,095.9)
Property and equipment									(647.1)						(593.8)
Deferred foreign tax credits									(311.5)						(289.3)
Employee benefit plans									(153.6)						(190.8)
Deferred revenue									(121.4)						(154.8)
Operating loss carryforwards									(96.1)						(86.8)
Other									(284.4)						(449.0)
Total deferred tax assets before valuation allowance									(7,655.6)						(7,322.4)
Valuation allowance									1,076.1						816.0
Net deferred tax (assets) liabilities									$	(281.4)					$	(110.1)
Balance sheet presentation:
Deferred income taxes									$	2,075.6					$	2,025.6
Other assets-miscellaneous									(2,357.0)						(2,135.7)
Net deferred tax (assets) liabilities									$	(281.4)					$	(110.1)

Statutory U.S. Federal Income Tax Rate Reconciliation to Effective Income Tax Rates

			2021						2020						2019
Statutory U.S. federal income tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net of related federal income tax benefit			1.8						1.8						1.8
Foreign income taxed at different rates			0.9						0.4						1.6
Tax impact of intercompany transactions			0.1						2.1						—
Global intangible low-tax income ("GILTI")			0.3						1.2						1.3
Foreign-derived intangible income ("FDII")			(2.6)						(3.4)						(1.3)
U.S./Foreign tax law changes			(3.9)						(1.8)						—
Foreign tax credit redetermination regulations			—						—						(1.0)
Other, net			(0.3)						1.7						1.5
Effective income tax rates			17.3		%				23.0		%				24.9		%

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			2021						2020
Balance at January 1			$	1,479.2					$	1,439.1
Decreases for positions taken in prior years			(31.9)						(71.4)
Increases for positions taken in prior years			26.1						38.5
Increases for positions related to the current year			60.7						89.6
Settlements with taxing authorities			(16.8)						(3.9)
Lapsing of statutes of limitations			(12.4)						(12.7)
Balance at December 31(1)			$	1,504.9					$	1,479.2

(1)Of this amount, $1,157.5 million and $1,137.8 million are included in Long-term income taxes for 2021 and 2020, respectively, and $332.0 million and $325.0 million are included in Prepaid expenses and other current assets for 2021 and 2020, respectively, on the Consolidated Balance Sheet. The remainder is included in Deferred income taxes on the Consolidated Balance Sheet.

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Unrecognized Tax Benefits Reconciliation, Table

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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 the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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

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