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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Components of the (provision)/benefit for income taxes on continuing operations | The components of the (provision) benefit for income taxes on continuing operations were:
| Year Ended December 31
Millions of dollars | 2021 | 2020 | 2019
Current income taxes: |  |  |
Federal | $ | 6 |  | $ | 1 |  | $ | 32 |
Foreign | (270) |  | (167) |  | (426) |
State | (6) |  | — |  | (9) |
Total current | (270) |  | (166) |  | (403) |
Deferred income taxes: |  |  |
Federal | 533 |  | 372 |  | 383 |
Foreign | (47) |  | 2 |  | (36) |
State | — |  | 70 |  | 49 |
Total deferred | 486 |  | 444 |  | 396 |
Income tax (provision) benefit | $ | 216 |  | $ | 278 |  | $ | (7) |
United States and foreign components of income from continuing operations before income taxes | The United States and foreign components of income (loss) from continuing operations before income taxes were as follows:
| Year Ended December 31
Millions of dollars | 2021 | 2020 | 2019
United States | $ | 283 |  | $ | (3,031) |  | $ | (1,517) |
Foreign | 969 |  | (189) |  | 395 |
Total | $ | 1,252 |  | $ | (3,220) |  | $ | (1,122) |
Reconciliations between the actual provision for income taxes on continuing operations and that computed by applying the US statutory rate to income from continuing operations before income taxes | Reconciliations between the actual (provision) benefit for income taxes on continuing operations and that computed by applying the United States statutory rate to income (loss) from continuing operations before income taxes were as follows:
| Year Ended December 31
| 2021 | 2020 | 2019
United States statutory rate | 21.0 | % | 21.0 | % | 21.0 | %
Valuation allowance against tax assets | (44.5) |  | 0.9 |  | (10.7) |
Impact of foreign income taxed at different rates | 2.5 |  | (1.1) |  | 0.8 |
Adjustments of prior year taxes | 1.3 |  | 0.7 |  | 13.0 |
State income taxes | 0.1 |  | — |  | (1.3) |
Impact of impairments and other charges | — |  | (12.3) |  | (20.9) |
Other items, net | 2.4 |  | (0.6) |  | (2.5) |
Total effective tax rate on continuing operations | (17.2) | % | 8.6 | % | (0.6) | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The primary components of our deferred tax assets and liabilities were as follows:
| December 31
Millions of dollars | 2021 | 2020
Gross deferred tax assets: |  |
Foreign tax credit carryforwards | $ | 1,041 |  | $ | 945 |
Intangible assets | 924 |  | — |
Net operating loss carryforwards | 736 |  | 1,691 |
Accrued liabilities | 292 |  | 263 |
Research and development tax credit carryforwards | 203 |  | 196 |
Employee compensation and benefits | 166 |  | 237 |
Other | 457 |  | 469 |
Total gross deferred tax assets | 3,819 |  | 3,801 |
Gross deferred tax liabilities: |  |
Operating lease right-of-use assets | 160 |  | 86 |
Depreciation and amortization | 131 |  | 7 |
Other | 9 |  | 155 |
Total gross deferred tax liabilities | 300 |  | 248 |
Valuation allowances | 885 |  | 1,394 |
Net deferred income tax asset | $ | 2,634 |  | $ | 2,159 |
Rollforward of unrecognized tax benefits and associated interest and penalties | The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties.
Millions of dollars | Unrecognized Tax Benefits |  | Interest and Penalties
Balance at January 1, 2019 | $ | 417 |  |  | $ | 67 |
Change in prior year tax positions | 25 |  |  | 11 |
Change in current year tax positions | 29 |  |  | — |
Cash settlements with taxing authorities | (4) |  |  | — |
Lapse of statute of limitations | (42) |  |  | (8) |
Balance at December 31, 2019 | $ | 425 |  |  | $ | 70 |
Change in prior year tax positions | (66) |  |  | 6 |
Change in current year tax positions | 16 |  |  | — |
Cash settlements with taxing authorities | (3) |  |  | — |
Lapse of statute of limitations | (17) |  |  | (5) |
Balance at December 31, 2020 | $ | 355 |  | (a) | $ | 71 |
Change in prior year tax positions | 14 |  |  | 4 |
Change in current year tax positions | 14 |  |  | 2 |
Cash settlements with taxing authorities | (10) |  |  | — |
Lapse of statute of limitations | (21) |  |  | (5) |
Balance at December 31, 2021 | $ | 352 |  | (a)(b) | $ | 72 |
(a) | Includes $20 million as of December 31, 2021 and $18 million as of December 31, 2020 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2021 and December 31, 2020, a net $272 million and $224 million without a net operating loss carryforward offset, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor.
(b) | Includes $69 million that could be resolved within the next 12 months.
Summary of Tax Credit Carryforwards | Our deferred tax assets from net operating losses, foreign tax credits, and research and development credits will expire as follows:
Millions of dollars | U.S. Net Operating Loss | Foreign Net Operating Loss | Foreign Tax Credits | Research and Development Credit | Total
2022-2026 | $ | 2 |  | $ | 133 |  | $ | 668 |  | $ | — |  | $ | 803 |
2027-2031 | 8 |  | 73 |  | 510 |  | — |  | 591 |
2032-2041 | 52 |  | 108 |  | — |  | 203 |  | 363 |
Non-Expiring | 9 |  | 410 |  | — |  | — |  | 419 |
| $ | 71 |  | $ | 724 |  | $ | 1,178 |  | $ | 203 |  | $ | 2,176 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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