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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
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 | 2022 |  | 2021 |  | 2020
U.S. | $ | 1,845.6 |  |  | $ | 2,413.9 |  |  | $ | 1,390.4 |
Outside the U.S. | 5,979.8 |  |  | 6,714.0 |  |  | 4,750.3 |
Income before provision for income taxes * | $ | 7,825.4 |  |  | $ | 9,127.9 |  |  | $ | 6,140.7 |
*Income before provision for income taxes decreased in 2022 primarily due to current and prior year charges and gains detailed in the Net Income and Diluted Earnings Per Share section on page 12 of this Form 10-K, which offset strong operating performance.
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 | 2022 |  | 2021 |  | 2020
U.S. federal | $ | 517.3 |  |  | $ | 887.6 |  |  | $ | 554.1 |
U.S. state | 246.3 |  |  | 228.1 |  |  | 119.1 |
Outside the U.S. | 1,230.1 |  |  | 895.3 |  |  | 730.6 |
Current tax provision | 1,993.7 |  |  | 2,011.0 |  |  | 1,403.8 |
U.S. federal | (80.0) |  |  | (177.4) |  |  | 870.3 |
U.S. state | (46.2) |  |  | (24.1) |  |  | 73.3 |
Outside the U.S. | (219.5) |  |  | (226.8) |  |  | (937.2) |
Deferred tax provision | (345.7) |  |  | (428.3) |  |  | 6.4 |
Provision for income taxes | $ | 1,648.0 |  |  | $ | 1,582.7 |  |  | $ | 1,410.2 |
Net Deferred Tax Liabilities | Net deferred tax (assets) liabilities consisted of:
In millions | December 31, 2022 |  | 2021
Lease right-of-use asset |  |  | $ | 3,045.0 |  |  | $ | 3,462.7 |
Property and equipment |  |  | 1,706.3 |  |  | 1,648.6 |
Intangible assets |  |  | 296.7 |  |  | 696.0 |
Other |  |  | 595.4 |  |  | 490.8 |
Total deferred tax liabilities |  |  | 5,643.4 |  |  | 6,298.1 |
Lease liability |  |  | (3,099.9) |  |  | (3,516.9) |
Intangible assets |  |  | (2,658.9) |  |  | (2,524.6) |
Property and equipment |  |  | (676.3) |  |  | (647.1) |
Deferred foreign tax credits |  |  | (74.5) |  |  | (311.5) |
Employee benefit plans |  |  | (180.6) |  |  | (153.6) |
Deferred revenue |  |  | (165.8) |  |  | (121.4) |
Operating loss carryforwards |  |  | (76.6) |  |  | (96.1) |
Other |  |  | (267.4) |  |  | (284.4) |
Total deferred tax assets before valuation allowance |  |  | (7,200.0) |  |  | (7,655.6) |
Valuation allowance |  |  | 1,077.1 |  |  | 1,076.1 |
Net deferred tax (assets) liabilities |  |  | $ | (479.5) |  |  | $ | (281.4) |
Balance sheet presentation: |  |  |  |  |
Deferred income taxes |  |  | $ | 1,997.5 |  |  | $ | 2,075.6 |
Other assets-miscellaneous |  |  | (2,477.0) |  |  | (2,357.0) |
Net deferred tax (assets) liabilities |  |  | $ | (479.5) |  |  | $ | (281.4) |
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:
| 2022 |  | 2021 |  | 2020
Statutory U.S. federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of related federal income tax benefit | 2.0 |  |  | 1.8 |  |  | 1.8 |
Foreign income taxed at different rates | 1.1 |  |  | 0.9 |  |  | 0.4 |
Tax impact of intercompany transactions | 0.2 |  |  | 0.1 |  |  | 2.1 |
Global intangible low-tax income ("GILTI") | 0.4 |  |  | 0.3 |  |  | 1.2 |
Foreign-derived intangible income ("FDII") | (4.2) |  |  | (2.6) |  |  | (3.4) |
U.S./Foreign tax law changes | — |  |  | (3.9) |  |  | (1.8) |
Nonoperating expense related to France audit settlement | 1.4 |  |  | — |  |  | — |
Other, net | (0.8) |  |  | (0.3) |  |  | 1.7 |
Effective income tax rates | 21.1 | % |  | 17.3 | % |  | 23.0 | %
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 | 2022 |  | 2021
Balance at January 1 | $ | 1,504.9 |  |  | $ | 1,479.2 |
Decreases for positions taken in prior years | (579.4) |  |  | (31.9) |
Increases for positions taken in prior years | 49.8 |  |  | 26.1 |
Increases for positions related to the current year | 100.3 |  |  | 60.7 |
Settlements with taxing authorities | (428.1) |  |  | (16.8) |
Lapsing of statutes of limitations | (0.5) |  |  | (12.4) |
Balance at December 31(1) | $ | 647.0 |  |  | $ | 1,504.9 |
(1)Of this amount, $619.6 million and $1,157.5 million are included in Long-term income taxes for 2022 and 2021, respectively, and $27.3 million and $332.0 million are included in Prepaid expenses and other current assets for 2022 and 2021, respectively, on the Consolidated Balance Sheet. The remainder is included in Deferred income taxes on the Consolidated Balance Sheet.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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