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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes and Equity Income

			Years Ended December 31,
			2020						2019						2018
U.S. income			$	6,881					$	3,826					$	4,433
Non-U.S. income			540						2,342						1,953
Income before income taxes and equity income			$	7,421					$	6,168					$	6,386

Schedule of Components of Income Tax Expense (Benefit)

			Years Ended December 31,
			2020						2019						2018
Current income tax expense (benefit)
U.S. federal			$	84					$	42					$	(104)
U.S. state and local			272						102						113
Non-U.S.			493						758						577
Total current income tax expense			849						902						586
Deferred income tax expense (benefit)
U.S. federal			632						(145)						(578)
U.S. state and local			(15)						3						250
Non-U.S.			308						9						216
Total deferred income tax expense (benefit)			925						(133)						(112)
Total income tax expense			$	1,774					$	769					$	474

Schedule of Effective Income Tax Rate Reconciliation

			Years Ended December 31,
			2020						2019						2018
Income tax expense at U.S. federal statutory income tax rate			$	1,558					$	1,295					$	1,341
State and local tax expense			219						117						282
Non-U.S. income taxed at other than the U.S. federal statutory tax rate			(1)						166						90
U.S. tax impact on Non-U.S. income and activities			(160)						(197)						(822)
Change in valuation allowances			370						(233)						1,695
Change in tax laws			—						(122)						(134)
General business credits and manufacturing incentives			(366)						(420)						(695)
Capital loss expiration			—						—						107
Settlements of prior year tax matters			(18)						—						(188)
Realization of basis differences in affiliates			(12)						—						(59)
German statutory approval of net operating losses			—						—						(990)
Foreign currency remeasurement			(7)						74						19
Other adjustments			191						89						(172)
Total income tax expense			$	1,774					$	769					$	474

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the components of temporary differences and carryforwards that give rise to deferred tax assets and liabilities:

			December 31, 2020						December 31, 2019
Deferred tax assets
Postretirement benefits other than pensions			$	1,742					$	1,695
Pension and other employee benefit plans			2,999						2,968
Warranties, dealer and customer allowances, claims and discounts			5,538						6,299
U.S. capitalized research expenditures			6,763						6,035
U.S. operating loss and tax credit carryforwards(a)			7,254						8,686
Non-U.S. operating loss and tax credit carryforwards(b)			7,216						6,731
Miscellaneous			3,479						1,965
Total deferred tax assets before valuation allowances			34,991						34,379
Less: valuation allowances			(9,095)						(8,135)
Total deferred tax assets			25,896						26,244
Deferred tax liabilities
Property, plant and equipment			1,670						1,565
Intangible assets			744						763
Total deferred tax liabilities			2,414						2,328
Net deferred tax assets			$	23,482					$	23,916

_________

(a)    At December 31, 2020, U.S. operating loss and tax credit carryforwards of $7.1 billion expire by 2040 if not utilized and the remaining balance of $137 million may be carried forward indefinitely.

(b)    At December 31, 2020, Non-U.S. operating loss and tax credit carryforwards of $1.3 billion expire by 2040 if not utilized and the remaining balance of $5.9 billion may be carried forward indefinitely.

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes activity of the total amounts of unrecognized tax benefits:

			Years Ended December 31,
			2020						2019						2018
Balance at beginning of period			$	775					$	1,341					$	1,557
Additions to current year tax positions			435						18						292
Additions to prior years' tax positions			26						13						264
Reductions to prior years' tax positions			(132)						(501)						(244)
Reductions in tax positions due to lapse of statutory limitations			(3)						(8)						(38)
Settlements			(10)						(93)						(450)
Other			(5)						5						(40)
Balance at end of period			$	1,086					$	775					$	1,341

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