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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes and Equity Income

			Years Ended December 31,
			2023						2022						2021
U.S. income (loss)			$	6,388					$	9,454					$	9,513
Non-U.S. income (loss)			3,535						1,306						1,902
Income (loss) before income taxes and equity income (loss)			$	9,924					$	10,760					$	11,415

Schedule of Components of Income Tax Expense (Benefit)

			Years Ended December 31,
			2023						2022						2021
Current income tax expense (benefit)
U.S. federal			$	240					$	389					$	20
U.S. state and local			490						368						142
Non-U.S.			874						707						395
Total current income tax expense (benefit)			1,605						1,464						557
Deferred income tax expense (benefit)
U.S. federal			(120)						263						1,699
U.S. state and local			(43)						109						229
Non-U.S.			(878)						53						286
Total deferred income tax expense (benefit)			(1,041)						425						2,214
Total income tax expense (benefit)			$	563					$	1,888					$	2,771

Schedule of Effective Income Tax Rate Reconciliation

			Years Ended December 31,
			2023						2022						2021
Income tax expense at U.S. federal statutory income tax rate			$	2,084					$	2,260					$	2,397
State and local tax expense (benefit)			348						388						301
Non-U.S. income taxed at other than the U.S. federal statutory tax rate			203						32						36
U.S. tax impact on Non-U.S. income and activities			(62)						5						129
Change in valuation allowances			(1,061)						(392)						665
Change in tax laws			25						78						(93)
General business credits and manufacturing incentives			(966)						(829)						(492)
Settlements of prior year tax matters			23						—						11
Realization of basis differences in affiliates			—						209						(295)
Foreign currency remeasurement			(62)						36						28
Other adjustments			31						102						84
Total income tax expense (benefit)			$	563					$	1,888					$	2,771

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, 2023						December 31, 2022
Deferred tax assets
Postretirement benefits other than pensions			$	1,119					$	1,120
Pension and other employee benefit plans			1,522						997
Warranties, dealer and customer allowances, claims and discounts			3,684						4,341
U.S. capitalized research expenditures			9,879						8,851
U.S. operating loss and tax credit carryforwards(a)			6,033						5,861
Non-U.S. operating loss and tax credit carryforwards(b)			6,204						6,296
Miscellaneous			5,121						2,773
Total deferred tax assets before valuation allowances			33,562						30,240
Less: valuation allowances			(6,979)						(7,744)
Total deferred tax assets			26,583						22,495
Deferred tax liabilities
Property, plant and equipment			4,233						1,957
Intangible assets			699						707
Total deferred tax liabilities			4,932						2,664
Net deferred tax assets			$	21,651					$	19,832

__________

(a)    At December 31, 2023, U.S. operating loss deferred tax assets were $404 million, where $129 million can be carried forward indefinitely and $275 million will expire by 2041, if not utilized. At December 31, 2023, U.S. tax credit carryforwards were $5.6 billion, where $405 million can be carried forward indefinitely and $5.2 billion will expire by 2043, if not utilized.

(b)    At December 31, 2023, Non-U.S. operating loss deferred tax assets were $6.1 billion, where $5.2 billion can be carried forward indefinitely and $876 million will expire by 2039 if not utilized. At December 31, 2023, Non-U.S. tax credit carryforwards were $135 million, where $109 million can be carried forward indefinitely and $26 million will expire by 2042, if not utilized.

Schedule of Unrecognized Tax Benefits Roll Forward

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

			Years Ended December 31,
			2023						2022						2021
Balance at beginning of period			$	520					$	634					$	1,086
Additions to current year tax positions			45						12						22
Additions to prior years' tax positions			72						14						46
Reductions to prior years' tax positions			(15)						(98)						(473)
Reductions in tax positions due to lapse of statutory limitations			(19)						(20)						(17)
Settlements			(18)						(10)						(26)
Other			—						(12)						(4)
Balance at end of period			$	585					$	520					$	634

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