XML 100 R44.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule Of Income Before Provision For Income Tax | Income before provision for income taxes shown below is based on the geographic location to which such income was attributed for years ended December 31:
(in millions) |  | 2024 |  | 2023 |  | 2022
United States |  | $ | 906 |  |  | $ | 813 |  |  | $ | 975 |
Foreign |  | 2,032 |  |  | 1,974 |  |  | 2,041 |
Income before provision for income taxes |  | $ | 2,938 |  |  | $ | 2,787 |  |  | $ | 3,016 |
Schedule Of Components Of Provision For Income Taxes | The provision for income taxes consisted of the following components for the years ended December 31:
(in millions) |  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
Federal and state |  | $ | 426 |  |  | $ | 522 |  |  | $ | 492 |
Foreign |  | 642 |  |  | 485 |  |  | 511 |
Total current provision |  | 1,068 |  |  | 1,007 |  |  | 1,003 |
Deferred: |  |  |  |  |  |
Federal and state |  | (229) |  |  | (354) |  |  | (240) |
Foreign |  | (126) |  |  | 15 |  |  | (33) |
Total deferred income tax (benefit) |  | (355) |  |  | (339) |  |  | (273) |
Total provision for income taxes |  | $ | 713 |  |  | $ | 668 |  |  | $ | 730 |
Reconciliation Between Effective Income Tax Rate and U.S. Federal Statutory Rate | The reconciliation between the U.S. federal statutory rate and our effective income tax rate were as follows for the years ended December 31:
(Dollars in millions) |  | 2024 |  | % |  | 2023 |  | % |  | 2022 |  | %
Tax expense, at U.S. federal statutory rate |  | $ | 617 |  |  | 21.0 |  |  | $ | 585 |  |  | 21.0 |  |  | $ | 633 |  |  | 21.0 |
State and local income taxes, net of federal benefit |  | 74 |  |  | 2.5 |  |  | 55 |  |  | 2.0 |  |  | 63 |  |  | 2.1 |
Non-taxable income for Indian tax purposes |  | — |  |  | — |  |  | — |  |  | — |  |  | (6) |  |  | (0.2) |
Rate differential on foreign earnings |  | 104 |  |  | 3.5 |  |  | 95 |  |  | 3.4 |  |  | 98 |  |  | 3.2 |
Recognition of benefits related to uncertain tax positions |  | (15) |  |  | (0.5) |  |  | (33) |  |  | (1.2) |  |  | (43) |  |  | (1.4) |
Credits and other incentives |  | (57) |  |  | (1.9) |  |  | (37) |  |  | (1.3) |  |  | (17) |  |  | (0.6) |
Other |  | (10) |  |  | (0.3) |  |  | 3 |  |  | 0.1 |  |  | 2 |  |  | 0.1 |
Total provision for income taxes |  | $ | 713 |  |  | 24.3 |  |  | $ | 668 |  |  | 24.0 |  |  | $ | 730 |  |  | 24.2 |
Schedule Of Deferred Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31:
(in millions) |  | 2024 |  | 2023
Deferred income tax assets: |  |  |  |
Net operating losses |  | $ | 50 |  |  | $ | 52 |
Revenue recognition (including intercompany revenue) |  | 51 |  |  | 126 |
Compensation and benefits |  | 164 |  |  | 172 |
Credit carryforwards |  | 11 |  |  | 16 |
Expenses not currently deductible |  | 1,189 |  |  | 672 |
|  | 1,465 |  |  | 1,038 |
Less: valuation allowance |  | (48) |  |  | (53) |
Deferred income tax assets, net |  | 1,417 |  |  | 985 |
Deferred income tax liabilities: |  |  |  |
Depreciation and amortization |  | 298 |  |  | 184 |
Deferred costs |  | 24 |  |  | 31 |
Other |  | 1 |  |  | 3 |
Deferred income tax liabilities |  | 323 |  |  | 218 |
Net deferred income tax assets |  | $ | 1,094 |  |  | $ | 767 |
Summary Of Changes in Unrecognized Tax Benefits | Changes in unrecognized income tax benefits were as follows for the years ended December 31:
(in millions) |  | 2024 |  | 2023 |  | 2022
Balance, beginning of year |  | $ | 260 |  |  | $ | 269 |  |  | $ | 194 |
Additions based on tax positions related to the current year |  | 15 |  |  | 31 |  |  | 53 |
Additions for tax positions of prior years |  | 65 |  |  | 22 |  |  | 65 |
Reductions for tax positions due to lapse of statutes of limitations |  | (15) |  |  | (15) |  |  | (43) |
Reductions for tax positions related to prior years |  | (6) |  |  | (33) |  |  | — |
Settlements |  | — |  |  | (14) |  |  | — |
Balance, end of year |  | $ | 319 |  |  | $ | 260 |  |  | $ | 269 |

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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + 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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration