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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Before Income Taxes | The components of Income before income taxes are as follows for the years ended December 31:
|  | 2023 |  | 2022 |  | 2021
United States |  | $ | 692 |  |  | $ | 1,169 |  |  | $ | 1,256 |
International |  | 2,700 |  |  | 1,491 |  |  | 1,831 |
Total Income before income taxes |  | $ | 3,392 |  |  | $ | 2,660 |  |  | $ | 3,087 |
Schedule of Provision for Income Taxes | The Provision for income taxes consists of the following for the years ended December 31:
|  | 2023 |  | 2022 |  | 2021
United States |  | $ | 72 |  |  | $ | 199 |  |  | $ | 228 |
International |  | 865 |  |  | 494 |  |  | 521 |
Total Provision for income taxes |  | $ | 937 |  |  | $ | 693 |  |  | $ | 749 |
Schedule of Components of Deferred Income Tax Benefit | Temporary differences between accounting for financial statement purposes and accounting for tax purposes result in the current provision for taxes being higher (lower) than the total provision for income taxes as follows:
|  | 2023 |  | 2022 |  | 2021
Goodwill and intangible assets |  | $ | 1 |  |  | $ | 106 |  |  | $ | 50 |
Property, plant and equipment |  | (13) |  |  | 2 |  |  | (19) |
Pension and other retiree benefits |  | 68 |  |  | (1) |  |  | (4) |
Stock-based compensation |  | 2 |  |  | (3) |  |  | 11 |
Right-of-use assets/lease liabilities |  | 1 |  |  | (5) |  |  | (2) |
Tax credits and tax loss carryforwards, net of valuation allowance |  | 29 |  |  | 8 |  |  | (2) |
Deferred withholding tax |  | 7 |  |  | 8 |  |  | (16) |
Research and Experimentation Capitalization |  | 29 |  |  | 58 |  |  | — |
Other, net |  | 11 |  |  | (10) |  |  | 19 |
Total deferred tax benefit (provision) |  | $ | 135 |  |  | $ | 163 |  |  | $ | 37 |
Schedule of Effective Tax Rate Reconciliation | The difference between the statutory U.S. federal income tax rate and the Company’s global effective tax rate as reflected in the Consolidated Statements of Income is as follows:
|  | 2023 |  | 2022 |  | 2021
Percentage of Income before income taxes |  |  |  |  |  |
Tax at United States statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit |  | (0.1) |  |  | 0.8 |  |  | 1.1 |
Earnings taxed at other than United States statutory rate |  | 5.4 |  |  | 5.4 |  |  | 2.7 |
Non-deductible goodwill impairment charges |  | — |  |  | 1.9 |  |  | 2.2 |
Foreign-derived intangible income benefit |  | (2.4) |  |  | (2.6) |  |  | (2.2) |
Foreign tax matter |  | 3.7 |  |  | — |  |  | — |
Other, net |  | — |  |  | (0.4) |  |  | (0.5) |
Effective tax rate |  | 27.6 | % |  | 26.1 | % |  | 24.3 | %
Schedule of Components of Deferred Tax Assets (Liabilities) | The components of deferred tax assets (liabilities) are as follows at December 31:
|  | 2023 |  | 2022
Deferred tax liabilities: |  |  |  |
Goodwill and intangible assets |  | $ | (412) |  |  | $ | (405) |
Property, plant and equipment |  | (420) |  |  | (375) |
Right-of-use assets |  | (126) |  |  | (118) |
Deferred withholding tax |  | (96) |  |  | (103) |
Other |  | (34) |  |  | (27) |
Total deferred tax liabilities |  | (1,088) |  |  | (1,028) |
Deferred tax assets: |  |  |  |
Pension and other retiree benefits |  | 295 |  |  | 214 |
Tax credits and tax loss carryforwards |  | 356 |  |  | 169 |
Lease liabilities |  | 134 |  |  | 125 |
Accrued liabilities |  | 221 |  |  | 218 |
Stock-based compensation |  | 75 |  |  | 73 |
Research and Experimentation Capitalization |  | 87 |  |  | 58 |
Other |  | 60 |  |  | 52 |
Total deferred tax assets |  | 1,228 |  |  | 909 |
Valuation Allowance |  | $ | (287) |  |  | $ | (129) |
Net deferred tax assets |  | $ | 941 |  |  | $ | 780 |
Net deferred income taxes |  | $ | (147) |  |  | $ | (248) |
Schedule of Unrecognized Tax Benefits Activity | Unrecognized tax benefits activity for the years ended December 31, 2023, 2022 and 2021 is summarized below:
|  | 2023 |  | 2022 |  | 2021
Unrecognized tax benefits: |  |  |  |  |  |
Balance, January 1 |  | $ | 298 |  |  | $ | 245 |  |  | $ | 227 |
Increases as a result of tax positions taken during the current year |  | 73 |  |  | 32 |  |  | 26 |
Decreases of tax positions taken during prior years |  | (61) |  |  | (21) |  |  | (20) |
Increases of tax positions taken during prior years |  | 6 |  |  | 46 |  |  | 40 |
Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations |  | (2) |  |  | (2) |  |  | (23) |
Effect of foreign currency rate movements |  | — |  |  | (2) |  |  | (5) |
Balance, December 31 |  | $ | 314 |  |  | $ | 298 |  |  | $ | 245 |

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