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Income Taxes | 6 Months Ended
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Jun. 30, 2017
Income Tax Disclosure [Abstract] |
Income taxes | 4. Income taxes Our Provision for income taxes was $430 million and $283 million in the second quarters of 2017 and 2016, respectively. The increase was due to higher income before income taxes. Our Provision for income taxes was $688 million and $522 million in the first six months of 2017 and 2016, respectively. The increase was due to higher income before income taxes, partially offset by discrete tax items, which were primarily related to stock-based compensation. Our estimated annual effective tax rate is about 31 percent, which does not include discrete tax items. This differs from the 35 percent statutory corporate tax rate due to the effect of U.S. tax benefits and lower statutory tax rates applicable to our operations in many of the jurisdictions in which we operate. These lower non-U.S. tax rates are generally statutory in nature, without expiration and available to companies that operate in those taxing jurisdictions. Provision for income taxes is based on the following:
| For Three Months Ended |  |  | For Six Months Ended |
| June 30, |  |  | June 30, |
| 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Taxes calculated using the estimated annual effective tax rate | $ |  | 458 |  |  | $ |  | 325 |  |  | $ |  | 840 |  |  | $ |  | 606 |
Discrete tax items |  |  | (28 | ) |  |  |  | (42 | ) |  |  |  | (152 | ) |  |  |  | (84 | )
Provision for income taxes | $ |  | 430 |  |  | $ |  | 283 |  |  | $ |  | 688 |  |  | $ |  | 522 |
Estimated annual effective tax rate |  |  | 31 | % |  |  |  | 30 | % |  |  |  | 31 | % |  |  |  | 30 | %
Actual effective tax rate |  |  | 29 | % |  |  |  | 26 | % |  |  |  | 25 | % |  |  |  | 25 | %

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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