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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Taxes [Abstract] |
Income Before Income Taxes |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |
﻿ | Years ended December 31,
﻿ | 2018 |  | 2017 |  | 2016
﻿ |  |  |  |  |  |  |  |
﻿U.S. companies | $ | 472 |  | $ | 653 |  | $ | 2,658
﻿Non-U.S. companies |  | 1,031 |  |  | 1,004 |  |  | 1,034
﻿Income before income taxes | $ | 1,503 |  | $ | 1,657 |  | $ | 3,692
﻿
Current and Deferred Amounts of Provision |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |
﻿ | Years ended December 31,
﻿ | 2018 |  | 2017 |  | 2016
﻿Current: |  |  |  |  |  |  |  |
﻿Federal | $ | (256) |  | $ | (20) |  | $ | (1)
﻿State and municipal |  | (22) |  |  | (21) |  |  | (17)
﻿Foreign |  | (196) |  |  | (317) |  |  | (287)
﻿Deferred: |  |  |  |  |  |  |  |
﻿Federal |  | (34) |  |  | (1,617) |  |  | 310
﻿State and municipal |  | 4 |  |  | (109) |  |  | 48
﻿Foreign |  | 67 |  |  | (70) |  |  | (50)
﻿(Provision) benefit for income taxes | $ | (437) |  | $ | (2,154) |  | $ | 3
﻿
Reconciliation of the U.S. Statutory Income Tax Rate to Effective Tax Rate |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |
﻿ | Years ended December 31,
﻿ | 2018 |  | 2017 |  | 2016
﻿Statutory U.S. income tax rate | 21.0 | % |  | 35.0 | % |  | 35.0 | %
﻿State income tax (benefit), net of federal effect | 0.9 |  |  | 0.8 |  |  | (0.3) |
﻿Global intangible low-taxed income | 3.6 |  |  |  |  |  |  |
﻿Repatriation tax on accumulated previously untaxed foreign earnings | (1.2) |  |  | 67.4 |  |  |  |
﻿Remeasurement of deferred tax assets and liabilities | (0.1) |  |  | 21.0 |  |  |  |
﻿Rate difference on foreign earnings | (2.3) |  |  | (3.9) |  |  | (9.2) |
﻿Preliminary IRS settlement of 2013-2014 tax years | 11.5 |  |  |  |  |  |  |
﻿Equity earnings impact |  |  |  | 0.1 |  |  | (0.4) |
﻿Valuation allowance | (3.8) |  |  | 6.8 |  |  | 1.2 |
﻿Realignment of Dow Corning interest |  |  |  |  |  |  | (28.2) |
﻿Other items, net | (0.5) |  |  | 2.8 |  |  | 1.8 |
﻿Effective income tax rate (benefit) | 29.1 | % |  | 130.0 | % |  | (0.1) | %
﻿
Tax Effects of Temporary Differences and Carryforwards of Deferred Tax Assets and Liabilities |
﻿ |  |  |  |  |
﻿ |  |  |  |  |
﻿ | December 31,
﻿ | 2018 |  | 2017
﻿ |  |  |  |  |
﻿Loss and tax credit carryforwards | $ | 479 |  | $ | 652
﻿Other assets |  | 45 |  |  | 43
﻿Asset impairments and restructuring reserves |  | 33 |  |  | 94
﻿Postretirement medical and life benefits |  | 162 |  |  | 191
﻿Other accrued liabilities |  | 265 |  |  |
﻿Other employee benefits |  | 289 |  |  | 278
﻿Gross deferred tax assets |  | 1,273 |  |  | 1,258
﻿Valuation allowance |  | (317) |  |  | (456)
﻿Total deferred tax assets |  | 956 |  |  | 802
﻿Intangible and other assets |  | (96) |  |  | (101)
﻿Other accrued liabilities |  |  |  |  | (94)
﻿Fixed assets |  | (256) |  |  | (245)
﻿Total deferred tax liabilities |  | (352) |  |  | (440)
﻿Net deferred tax assets | $ | 604 |  | $ | 362
﻿
Net Deferred Tax Assets |
﻿ |  |  |  |  |
﻿ |  |  |  |  |
﻿ | December 31,
﻿ | 2018 |  | 2017
﻿ |  |  |  |  |
﻿Deferred tax assets | $ | 951 |  | $ | 813
﻿Deferred tax liabilities |  | (347) |  |  | (451)
﻿Net deferred tax assets | $ | 604 |  | $ | 362
﻿
Deferred Tax Assets for Loss and Tax Credit Carryforwards |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  | Expiration
﻿ | Amount |  | 2018-2022 |  | 2023-2027 |  | 2028-2037 |  | Indefinite
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net operating losses | $ | 449 |  | $ | 121 |  | $ | 60 |  | $ | 25 |  | $ | 243
﻿Tax credits |  | 30 |  |  |  |  |  |  |  |  | 25 |  |  | 5
﻿Totals as of December 31, 2018 | $ | 479 |  | $ | 121 |  | $ | 60 |  | $ | 50 |  | $ | 248
﻿
Reconciliation of Unrecognized Tax Benefits |
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |
﻿ | 2018 |  | 2017 |  | 2016
﻿Balance at January 1 | $ | 252 |  | $ | 243 |  | $ | 253
﻿Additions based on tax positions related to the current year |  | 204 |  |  | 1 |  |  | 10
﻿Additions for tax positions of prior years |  |  |  |  | 13 |  |  | 4
﻿Reductions for tax positions of prior years |  | (10) |  |  |  |  |  | (18)
﻿Settlements and lapse of statute of limitations |  | (11) |  |  | (5) |  |  | (6)
﻿Balance at December 31 | $ | 435 |  | $ | 252 |  | $ | 243
﻿

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