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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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			2024						2023						2022
U.S.			$	3,282					$	3,665					$	1,846
Outside the U.S.			7,062						6,857						5,980
Income before provision for income taxes			$	10,345					$	10,522					$	7,825

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			2024						2023						2022
U.S. federal			$	1,412					$	1,340					$	517
U.S. state			269						263						246
Outside the U.S.			1,014						1,137						1,230
Current tax provision			2,695						2,740						1,994
U.S. federal			(76)						(146)						(80)
U.S. state			(20)						(30)						(46)
Outside the U.S.			(478)						(511)						(220)
Deferred tax (benefit) provision			(574)						(686)						(346)
Provision for income taxes			$	2,121					$	2,053					$	1,648

Net Deferred Tax Liabilities

Net deferred tax (assets) liabilities consisted of:

In millions			December 31, 2024												2023
Lease right-of-use asset									$	3,213					$	3,323
Property and equipment									1,568						1,669
Intangible assets									187						264
Other									437						285
Total deferred tax liabilities									5,405						5,541
Lease liability									(3,292)						(3,384)
Intangible assets									(3,495)						(3,018)
Property and equipment									(469)						(642)
Deferred foreign tax credits									(50)						(82)
Employee benefit plans									(168)						(192)
Deferred revenue									(113)						(167)
Operating loss carryforwards									(195)						(267)
Other									(170)						(281)
Total deferred tax assets before valuation allowance									(7,951)						(8,033)
Valuation allowance									917						1,150
Net deferred tax (assets) liabilities									$	(1,629)					$	(1,342)
Balance sheet presentation:
Deferred income taxes									$	1,914					$	1,681
Other assets-miscellaneous									(3,543)						(3,023)
Net deferred tax (assets) liabilities									$	(1,629)					$	(1,342)

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:

			2024						2023						2022
Statutory U.S. federal income tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net of related federal income tax benefit			1.9						1.8						2.0
Foreign income taxed at different rates			2.4						1.9						1.1
Tax impact of intercompany transactions			(1.1)						(0.7)						0.2
Global intangible low-tax income ("GILTI")			0.5						0.5						0.4
Foreign-derived intangible income ("FDII")			(3.4)						(2.7)						(4.2)
Nonoperating expense related to France audit settlement			—						—						1.4
Other, net			(0.8)						(2.3)						(0.8)
Effective income tax rates			20.5		%				19.5		%				21.1		%

Schedule of Unrecognized Tax Benefits Roll Forward

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:

In millions			2024						2023
Balance at January 1			$	588					$	647
Decreases for positions taken in prior years			(133)						(82)
Increases for positions taken in prior years			131						28
Increases for positions related to the current year			47						41
Settlements with taxing authorities			(172)						(45)
Lapsing of statutes of limitations			—						—
Balance at December 31(1)			$	461					$	588

(1)Of this amount, $421 million and $319 million are included in Long-term income taxes for 2024 and 2023, respectively, and $40 million and $269 million are included in Income taxes for 2024 and 2023, respectively, on the Consolidated Balance Sheet.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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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