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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2013
INCOME TAXES |
Schedule of components of income taxes expense (benefit) from continuing operations |
|  |  |  | (In Millions) |
--- | --- | --- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
Income (loss) from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 279 |  | $ | (84 | ) | $ | (575 | )
Foreign |  |  | 155 |  |  | 157 |  |  | 183 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 434 |  | $ | 73 |  | $ | (392 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense (benefit) on income (loss) from continuing operations: |  |  |  |  |  |  |  |  |  |
Currently payable: |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 3 |  | $ | — |  | $ | — |
State and local |  |  | 4 |  |  | (2 | ) |  | (1 | )
Foreign |  |  | 58 |  |  | 51 |  |  | 63 |
Deferred: |  |  |  |  |  |  |  |  |  |
U.S. Federal |  |  | 41 |  |  | 31 |  |  | (103 | )
State and local |  |  | 7 |  |  | 7 |  |  | — |
Foreign |  |  | (2 | ) |  | 4 |  |  | 1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 111 |  | $ | 91 |  | $ | (40 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets at December 31: |  |  |  |  |  |  |  |  |  |
Receivables |  | $ | 12 |  | $ | 14 |  |  |  |
Inventories |  |  | 23 |  |  | 24 |  |  |  |
Other assets, principally stock-based compensation |  |  | 103 |  |  | 118 |  |  |  |
Accrued liabilities |  |  | 157 |  |  | 156 |  |  |  |
Long-term liabilities |  |  | 195 |  |  | 253 |  |  |  |
Net operating loss carryforward |  |  | 317 |  |  | 400 |  |  |  |
Tax credit carryforward |  |  | 38 |  |  | 25 |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 845 |  |  | 990 |  |  |  |
Valuation allowance |  |  | (670 | ) |  | (787 | ) |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 175 |  |  | 203 |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities at December 31: |  |  |  |  |  |  |  |  |  |
Property and equipment |  |  | 148 |  |  | 180 |  |  |  |
Intangibles |  |  | 342 |  |  | 286 |  |  |  |
Investment in foreign subsidiaries |  |  | 5 |  |  | 8 |  |  |  |
Other |  |  | 4 |  |  | 9 |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 499 |  |  | 483 |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax liability at December 31 |  | $ | 324 |  | $ | 280 |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of the U.S. Federal statutory tax rate to the income tax expense (benefit) on income (loss) from continuing operations |
|  | 2013 |  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
U.S. Federal statutory tax rate – expense (benefit) |  |  | 35 | % |  | 35 | % |  | (35 | )%
State and local taxes, net of U.S. Federal tax benefit |  |  | 2 |  |  | 4 |  |  | — |
Lower taxes on foreign earnings |  |  | — |  |  | (9 | ) |  | — |
U.S. and foreign taxes on distributed and undistributed foreign earnings |  |  | — |  |  | 1 |  |  | — |
Goodwill and other intangible assets impairment charges providing no tax benefit |  |  | — |  |  | 2 |  |  | 3 |
U.S. Federal valuation allowance |  |  | (11 | ) |  | 89 |  |  | 24 |
Other, net |  |  | — |  |  | 3 |  |  | (2 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective tax rate – expense (benefit) |  |  | 26 | % |  | 125 | % |  | (10 | )%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of the beginning and ending liability for uncertain tax positions, including related interest and penalties |
|  | (In millions) |
--- | --- | --- | ---
|  | Uncertain Tax Positions |  | Interest and Penalties |  | Total |
Balance at January 1, 2012 |  | $ | 61 |  | $ | 20 |  | $ | 81 |
Current year tax positions: |  |  |  |  |  |  |  |  |  |
Additions |  |  | 6 |  |  |  |  |  | 6 |
Prior year tax positions: |  |  |  |  |  |  |  |  |  |
Reductions |  |  | (4 | ) |  |  |  |  | (4 | )
Settlements with tax authorities |  |  | — |  |  |  |  |  | — |
Lapse of applicable statute of limitations |  |  | (12 | ) |  |  |  |  | (12 | )
Interest and penalties recognized in income tax expense |  |  | — |  |  | (3 | ) |  | (3 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2012 |  | $ | 51 |  | $ | 17 |  | $ | 68 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current year tax positions: |  |  |  |  |  |  |  |  |  |
Additions |  | $ | 9 |  |  |  |  | $ | 9 |
Prior year tax positions: |  |  |  |  |  |  |  |  |  |
Additions |  |  | 1 |  |  |  |  |  | 1 |
Reductions |  |  | (2 | ) |  |  |  |  | (2 | )
Settlements with tax authorities |  |  | (1 | ) |  |  |  |  | (1 | )
Lapse of applicable statute of limitations |  |  | (12 | ) |  |  |  |  | (12 | )
Interest and penalties recognized in income tax expense |  |  |  |  | $ | (4 | ) |  | (4 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2013 |  | $ | 46 |  | $ | 13 |  | $ | 59 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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