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Taxes on Income (Tables) | 12 Months Ended
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Dec. 31, 2019
Taxes on Income |
Schedule of amount of earnings (loss) before income taxes |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, | ​
($ in millions) |  | 2019 |  | 2018 |  | 2017 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | $ | 224 | ​ | $ | 193 | ​ | $ | 147 | ​
Foreign | ​ | ​ | 384 | ​ | ​ | 440 | ​ | ​ | 367 | ​
​ | ​ | $ | 608 | ​ | $ | 633 | ​ | $ | 514 | ​
Schedule of provision (benefit) for income tax expense |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, | ​
($ in millions) |  | 2019 |  | 2018 |  | 2017 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | $ | (1) | ​ | $ | 30 | ​ | $ | 6 | ​
State and local | ​ | ​ | 7 | ​ | ​ | 5 | ​ | ​ | — | ​
Foreign | ​ | ​ | 110 | ​ | ​ | 115 | ​ | ​ | 77 | ​
Total current | ​ | ​ | 116 | ​ | ​ | 150 | ​ | ​ | 83 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | ​ | (26) | ​ | ​ | 21 | ​ | ​ | 92 | ​
State and local | ​ | ​ | (1) | ​ | ​ | 9 | ​ | ​ | 7 | ​
Foreign | ​ | ​ | (18) | ​ | ​ | 5 | ​ | ​ | (17) | ​
Total deferred | ​ | ​ | (45) | ​ | ​ | 35 | ​ | ​ | 82 | ​
Tax provision (benefit) | ​ | $ | 71 | ​ | $ | 185 | ​ | $ | 165 | ​
Schedule of income tax provision recorded within the consolidated statements of earnings which differ from the provisions determined by applying the U.S. statutory tax rate to pretax earnings |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, | ​
($ in millions) |  | 2019 |  | 2018 |  | 2017 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Statutory U.S. federal income tax | ​ | $ | 128 | ​ | $ | 133 | ​ | $ | 180 | ​
Increase (decrease) due to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign tax rate differences including tax holidays | ​ | ​ | (11) | ​ | ​ | (11) | ​ | ​ | (52) | ​
Foreign tax law and rate changes | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (28) | ​
U.S. tax reform (a) | ​ | ​ | — | ​ | ​ | (45) | ​ | ​ | 83 | ​
Foreign exchange loss on revaluation of Brazilian deferred tax balances | ​ | ​ | 4 | ​ | ​ | 26 | ​ | ​ | — | ​
Global intangible low-taxed income (GILTI) | ​ | ​ | 12 | ​ | ​ | 15 | ​ | ​ | — | ​
Permanent differences on business dispositions | ​ | ​ | (3) | ​ | ​ | 56 | ​ | ​ | 18 | ​
U.S. state and local taxes, net | ​ | ​ | 4 | ​ | ​ | 13 | ​ | ​ | 3 | ​
U.S. taxes on foreign earnings, net of tax deductions and credits | ​ | ​ | (6) | ​ | ​ | (9) | ​ | ​ | (6) | ​
U.S. manufacturing deduction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (8) | ​
U.S. research and development tax credits | ​ | ​ | (10) | ​ | ​ | (7) | ​ | ​ | (9) | ​
Uncertain tax positions, including interest | ​ | ​ | (19) | ​ | ​ | (1) | ​ | ​ | (3) | ​
Change in valuation allowances | ​ | ​ | 24 | ​ | ​ | 31 | ​ | ​ | 15 | ​
Equity compensation related impacts | ​ | ​ | (43) | ​ | ​ | (14) | ​ | ​ | (16) | ​
Other, net | ​ | ​ | (9) | ​ | ​ | (2) | ​ | ​ | (12) | ​
Provision (benefit) for taxes | ​ | $ | 71 | ​ | $ | 185 | ​ | $ | 165 | ​
Effective tax rate expressed as a percentage of pretax earnings | ​ | ​ | 11.7 | % | ​ | 29.2 | % | ​ | 32.1 | %
(a) | Includes 2018 adjustments required to record the final impact of the implications of the U.S. Tax Cuts and Jobs Act signed into law in 2017.
Schedule of significant components of deferred tax assets and liabilities |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
($ in millions) |  | 2019 |  | 2018
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Deferred compensation | ​ | $ | 90 | ​ | $ | 73
Accrued employee benefits | ​ | ​ | 93 | ​ | ​ | 100
Accrued pensions | ​ | ​ | 190 | ​ | ​ | 179
Inventory and other reserves | ​ | ​ | 42 | ​ | ​ | 41
Net operating losses, foreign tax credits and other tax attributes | ​ | ​ | 408 | ​ | ​ | 390
Unrealized losses on currency exchange and derivative transactions | ​ | ​ | 6 | ​ | ​ | 26
Goodwill and other intangible assets | ​ | ​ | 54 | ​ | ​ | 64
Other | ​ | ​ | 168 | ​ | ​ | 110
Total deferred tax assets | ​ | ​ | 1,051 | ​ | ​ | 983
Valuation allowance | ​ | ​ | (244) | ​ | ​ | (224)
Net deferred tax assets | ​ | ​ | 807 | ​ | ​ | 759
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Property, plant and equipment | ​ | ​ | (330) | ​ | ​ | (336)
Goodwill and other intangible assets | ​ | ​ | (586) | ​ | ​ | (621)
Pension assets | ​ | ​ | (74) | ​ | ​ | (90)
Other | ​ | ​ | (137) | ​ | ​ | (120)
Total deferred tax liabilities | ​ | ​ | (1,127) | ​ | ​ | (1,167)
Net deferred tax asset (liability) | ​ | $ | (320) | ​ | $ | (408)
​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of net deferred tax asset (liability) included in consolidated balance sheets |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
($ in millions) |  | 2019 |  | 2018
​ | ​ | ​ | ​ | ​ | ​ | ​
Other assets | ​ | $ | 241 | ​ | $ | 237
Deferred taxes | ​ | ​ | (561) | ​ | ​ | (645)
Net deferred tax asset (liability) | ​ | $ | (320) | ​ | $ | (408)
​ | ​ | ​ | ​ | ​ | ​ | ​
Roll forward of unrecognized tax benefits related to uncertain income tax positions |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ in millions) |  | 2019 |  | 2018 |  | 2017
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at January 1 | ​ | $ | 80 | ​ | $ | 84 | ​ | $ | 77
Additions based on tax positions related to the current year | ​ | ​ | — | ​ | ​ | 14 | ​ | ​ | 18
Additions for tax positions of prior years | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1
Reductions for tax positions from prior years | ​ | ​ | — | ​ | ​ | (4) | ​ | ​ | —
Reductions for settlements | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7)
Reductions due to lapse of statute of limitations | ​ | ​ | (16) | ​ | ​ | (10) | ​ | ​ | (12)
Effect of foreign currency exchange rates | ​ | ​ | (1) | ​ | ​ | (4) | ​ | ​ | 7
Balance at December 31 | ​ | $ | 63 | ​ | $ | 80 | ​ | $ | 84

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- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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=84230637&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=84230637&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=84230637&loc=d3e32840-109319 + Details
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