Income Taxes

9 Months Ended

Sep. 30, 2014

Note 10: Income Taxes

During the three months ended September 30, 2014, we reduced our accruals for uncertain tax positions and the related accrued interest on these tax positions. The reduction resulted in a decrease of $724 million in income tax expense, which excludes the benefits of uncertain tax positions for which we have been indemnified by GE. The table below presents a reconciliation of our uncertain tax positions from January 1, 2014 to September 30, 2014.


(in millions)
Balance, January 1, 2014	$	1,701
Additions based on tax positions related to the current year		54
Additions based on tax positions related to prior years		31
Reductions for tax positions of prior years		(168)
Reductions due to expiration of statutes of limitations		(436)
Settlements with taxing authorities		(15)
Balance, September 30, 2014	$	1,167

As of September 30, 2014 and December 31, 2013, our accrued interest associated with tax positions was $460 million and $780 million, respectively.

- 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.

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