XML 106 R44.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2022, 2021 and 2020, consists of the following (in millions):
| 2022 |  | 2021 |  | 2020
Current provision (benefit): |  |  |  |  |
Federal | $ | 514 |  |  | $ | 220 |  |  | $ | 81 |
State | 163 |  |  | 68 |  |  | 50 |
Foreign | 225 |  |  | 172 |  |  | 176 |
Total current provision | $ | 902 |  |  | $ | 460 |  |  | $ | 307 |
Deferred provision (benefit): |  |  |  |  |
Federal | $ | (299) |  |  | $ | (118) |  |  | $ | (53) |
State | (58) |  |  | (11) |  |  | (28) |
Foreign | (168) |  |  | 40 |  |  | (130) |
Total deferred provision | (525) |  |  | (89) |  |  | (211) |
Total provision for income taxes | $ | 377 |  |  | $ | 371 |  |  | $ | 96 |
Total income tax expense for the years ended December 31, 2022, 2021 and 2020, is allocated as follows (in millions):
| 2022 |  | 2021 |  | 2020
Tax expense (benefit) per statements of earnings (loss) | $ | 377 |  |  | $ | 371 |  |  | $ | 96 |
Change in fair value of net investment hedges | 361 |  |  | 317 |  |  | (304) |
Foreign currency translation adjustments | (360) |  |  | (33) |  |  | 143 |
Other components of other comprehensive earnings (loss) | 3 |  |  | — |  |  | — |
Total income tax expense (benefit) allocated to other comprehensive earnings | 4 |  |  | 284 |  |  | (161) |
Total income tax expense (benefit) | $ | 381 |  |  | $ | 655 |  |  | $ | (65) |
Schedule of Pre-tax Income from Continuing Operations | The provision for income taxes is based on pre-tax income from continuing operations, which is as follows for the years ended December 31, 2022, 2021 and 2020 (in millions):
| 2022 |  | 2021 |  | 2020
United States | $ | (11,189) |  |  | $ | 747 |  |  | $ | 441 |
Foreign | (5,142) |  |  | 42 |  |  | (175) |
Total | $ | (16,331) |  |  | $ | 789 |  |  | $ | 266 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the Company's effective income tax rate for the years ended December 31, 2022, 2021 and 2020, is as follows:
| 2022 |  | 2021 |  | 2020
Federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes | 2.6 |  |  | 6.7 |  |  | 14.6 |
Federal benefit of state taxes | (0.5) |  |  | (1.4) |  |  | (3.1) |
Foreign rate differential | 0.2 |  |  | (4.5) |  |  | (10.1) |
Book basis in excess of tax basis for goodwill impairment and disposition | (25.1) |  |  | — |  |  | 9.2 |
Tax benefit from stock-based compensation | (0.2) |  |  | (2.2) |  |  | (18.1) |
U.K. tax rate adjustment | — |  |  | 23.6 |  |  | 38.2 |
Non-deductible executive compensation | (0.1) |  |  | 3.5 |  |  | 9.0 |
Foreign-derived intangible income deduction | 0.1 |  |  | (2.4) |  |  | (7.2) |
CVR liability fair value and foreign currency adjustment | (0.1) |  |  | 2.0 |  |  | 8.2 |
Acquisition-related items | — |  |  | — |  |  | (15.9) |
Other | (0.2) |  |  | 0.7 |  |  | (9.8) |
Effective income tax rate | (2.3) | % |  | 47.0 | % |  | 36.0 | %
Schedule of Deferred Income Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities as of December 31, 2022 and 2021, consist of the following (in millions):
| 2022 |  | 2021
Deferred income tax assets: |  |  |
Net operating loss carryforwards | $ | 233 |  |  | $ | 194 |
Employee benefit accruals | 111 |  |  | 173 |
Foreign currency translation adjustment | 38 |  |  | — |
Other deferred tax assets | 126 |  |  | 154 |
Total gross deferred income tax assets | 508 |  |  | 521 |
Less valuation allowance | (218) |  |  | (191) |
Total deferred income tax assets | 290 |  |  | 330 |
Deferred income tax liabilities: |  |  |
Amortization of goodwill and intangible assets | (3,261) |  |  | (3,743) |
Foreign currency translation adjustment | — |  |  | (320) |
Deferred contract costs | (209) |  |  | (196) |
Other deferred tax liabilities | (337) |  |  | (215) |
Total deferred income tax liabilities | (3,807) |  |  | (4,474) |
Net deferred income tax liability | $ | (3,517) |  |  | $ | (4,144) |
Deferred income taxes are classified in the consolidated balance sheets as of December 31, 2022 and 2021, as follows (in millions):
| 2022 |  | 2021
Noncurrent deferred income tax assets (included in Other noncurrent assets) | $ | 33 |  |  | $ | 49 |
Noncurrent deferred income tax liabilities | (3,550) |  |  | (4,193) |
Net deferred income tax liability | $ | (3,517) |  |  | $ | (4,144) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table reconciles the gross amounts of unrecognized tax benefits at the beginning and end of the period (in millions):
| Gross Amount
Amounts of unrecognized tax benefits as of December 31, 2020 | $ | 44 |
Amount of decreases due to lapse of the applicable statute of limitations | (4) |
Amount of decreases due to settlements | (2) |
Increases as a result of tax positions taken in the prior period | 11 |
Increases as a result of tax positions taken in the current period | 6 |
Foreign currency translation | (1) |
Amount of unrecognized tax benefit as of December 31, 2021 | 54 |
Amount of decreases due to lapse of the applicable statute of limitations | (1) |
Amount of decreases due to settlements | (13) |
Increases as a result of tax positions taken in prior period | 5 |
Increases as a result of tax positions taken in the current period | 4 |
Foreign currency translation | (1) |
Amount of unrecognized tax benefit as of December 31, 2022 | $ | 48 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration