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INCOME TAXES (Components of deferred tax assets and liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015
--- | --- | ---
Deferred tax assets: |  |
Foreign tax credits | $ 2,094 | $ 1,552
Accrued expenses | 923 | 1,167
Oil and gas properties | 346 | 1,422
Minimum tax credits | 444 | 569
Net operating loss carryforwards | 2,898 | 621
Employee benefit plans | 403 | 442
Other | 485 | 478
Deferred tax assets | 7,593 | 6,251
Valuation allowances | (6,058) | (4,183)
Net deferred tax assets | 1,535 | 2,068
Deferred tax liabilities: |  |
Property, plant, equipment and mine development costs | 4,326 | 4,765
Undistributed earnings | (779) | (852)
Other | (195) | (55)
Total deferred tax liabilities | (5,300) | (5,672)
Net deferred tax liabilities | $ (3,765) | $ (3,604)

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