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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The following table summarizes our Earnings (loss) before taxes and Income tax expense (in millions):
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
Earnings (loss) before taxes: |  |  |  |  |
United States | $ | 1,286 |  |  | $ | 868 |  |  | $ | 8 |
Foreign | 328 |  |  | 445 |  |  | (264) |
Total | $ | 1,614 |  |  | $ | 1,313 |  |  | $ | (256) |
Schedule of Components of Income Tax Expense (Benefit), By Jurisdiction |
Income tax expense: |  |  |  |  |
Current |  |  |  |  |
United States | $ | 180 |  |  | $ | 139 |  |  | $ | 4 |
State and local | 38 |  |  | 27 |  |  | 16 |
Foreign | 125 |  |  | 90 |  |  | 30 |
Total current | 343 |  |  | 256 |  |  | 50 |
Deferred |  |  |  |  |
United States | 50 |  |  | 53 |  |  | 64 |
State and local | (6) |  |  | (3) |  |  | (1) |
Foreign | (14) |  |  | 13 |  |  | 16 |
Total deferred | 30 |  |  | 63 |  |  | 79 |
Total income tax expense | $ | 373 |  |  | $ | 319 |  |  | $ | 129 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation between the United States federal statutory rate and the Company’s effective income tax rate from continuing operations is:
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
United States federal statutory rate | 21 | % |  | 21 | % |  | 21 | %
State and local income taxes, net of federal tax benefit | 2 |  |  | 3 |  |  | (9) |
U.S. tax expense on foreign earnings | — |  |  | — |  |  | (5) |
Legislative tax rate changes | — |  |  | — |  |  | 7 |
Foreign tax credits | — |  |  | (1) |  |  | 2 |
Valuation allowance | — |  |  | — |  |  | (15) |
R&D Credits | (1) |  |  | — |  |  | — |
Intercompany restructuring - intellectual property transfer | — |  |  | — |  |  | 14 |
Goodwill impairment charge | — |  |  | — |  |  | (75) |
Uncertain tax positions and settlements | — |  |  | — |  |  | 2 |
Excess tax benefits related to stock compensation | — |  |  | — |  |  | 2 |
Other, net | 1 |  |  | 1 |  |  | 6 |
Effective tax rate | 23 | % |  | 24 | % |  | (50) | %
Schedule of Deferred Tax Assets and Liabilities | The cumulative temporary differences giving rise to the deferred tax assets and liabilities are as follows (in millions):
| December 31, 2022 |  | December 31, 2021
| Deferred Tax Assets |  | Deferred Tax Liabilities |  | Deferred Tax Assets |  | Deferred Tax Liabilities
Other employee benefits | $ | 59 |  |  | $ | — |  |  | $ | 66 |  |  | $ | — |
Pension plans | 16 |  |  | — |  |  | 16 |  |  | — |
Operating loss and tax credit carryforwards | 108 |  |  | — |  |  | 132 |  |  | — |
Depreciation | — |  |  | 334 |  |  | — |  |  | 300 |
Leases - right of use assets | — |  |  | 70 |  |  | — |  |  | 34 |
Leases - liabilities | 56 |  |  | — |  |  | 36 |  |  | — |
Amortization | — |  |  | 298 |  |  | — |  |  | 322 |
Foreign tax credit carryforwards | 52 |  |  | — |  |  | 54 |  |  | — |
Other | 168 |  |  | — |  |  | 139 |  |  | — |
Subtotal | 459 |  |  | 702 |  |  | 443 |  |  | 656 |
Valuation allowances | (129) |  |  | — |  |  | (132) |  |  | — |
Total deferred taxes | $ | 330 |  |  | $ | 702 |  |  | $ | 311 |  |  | $ | 656 |
Summary of Operating Loss and Tax Credit Carryforwards | The following table summarizes the amount and expiration dates of our deferred tax assets related to operating loss and tax credit carryforwards and foreign tax credit carryforwards at December 31, 2022 (in millions) (a):
| Expiration Dates |  | Amounts
Domestic loss and tax credit carryforwards | 2023-2036 |  | $ | 91 |
Foreign loss and tax credit carryforwards (b) | 2023 - Indefinite |  | 69 |
Total operating loss and tax credit carryforwards |  |  | $ | 160 |
(a)The use of certain of the Company's losses and credits is limited pursuant to sections 382 and 383 of the Internal Revenue Code which are triggered when a change in control occurs and are computed based upon several variable factors including the share price of the Company's common stock on the date of the change in control. A change in control is generally defined as a cumulative change of more than 50% in the ownership positions of certain stockholders during a rolling three-year period. The Company believes that these limitations will not result in a forfeiture of the carryforwards.(b)The foreign net operating losses are related to various jurisdictions that provide for both indefinite carryforward periods and others with carryforward periods that range from the tax years 2023 to 2036.
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in millions):
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
Balance at beginning of period | $ | 74 |  |  | $ | 76 |  |  | $ | 79 |
Tax positions related to the current year |  |  |  |  |
Gross additions | — |  |  | — |  |  | — |
Tax positions related to prior years |  |  |  |  |
Gross additions | 2 |  |  | 1 |  |  | 2 |
Gross reductions | — |  |  | (1) |  |  | (1) |
Settlements | (1) |  |  | (1) |  |  | (1) |
Expiration of statute of limitations | (3) |  |  | (1) |  |  | (3) |
Impact of currency changes | (1) |  |  | — |  |  | — |
Balance at end of period | $ | 71 |  |  | $ | 74 |  |  | $ | 76 |

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- Definition Tabular disclosure of income tax expense attributable to continuing operations for each year presented including current tax expense (benefit) and deferred tax expense (benefit). The expense (benefit) amounts are disclosed by tax jurisdiction, including United States, Foreign, and State and Local. + References No definition available. + 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 https://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 https://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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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