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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Provision For Income Taxes | The provision for income taxes for 2022, 2021 and 2020, consisted of the following:
| Years Ended December 31,
(in millions) | 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | 62.7 |  |  | $ | (12.7) |  |  | $ | (22.0) |
State | 51.9 |  |  | 5.6 |  |  | 1.3 |
Non-U.S. | 770.4 |  |  | 386.9 |  |  | 114.4 |
Total current | 885.0 |  |  | 379.8 |  |  | 93.7 |
Noncurrent: |  |  |  |  |
Federal | $ | 0.2 |  |  | $ | — |  |  | $ | — |
State | — |  |  | — |  |  | — |
Non-U.S. | (0.7) |  |  | 110.0 |  |  | 3.2 |
Total noncurrent | (0.5) |  |  | 110.0 |  |  | 3.2 |
Deferred: |  |  |  |  |
Federal | $ | 215.4 |  |  | $ | 141.9 |  |  | $ | (66.7) |
State | 31.0 |  |  | 21.4 |  |  | (12.9) |
Non-U.S. | 93.4 |  |  | (55.4) |  |  | (595.8) |
Total deferred | 339.8 |  |  | 107.9 |  |  | (675.4) |
Provision for (benefit from) income taxes | $ | 1,224.3 |  |  | $ | 597.7 |  |  | $ | (578.5) |
Schedule Of Effective Income Tax Rate | The components of earnings from consolidated companies before income taxes, and the effects of significant adjustments to tax computed at the federal statutory rate, were as follows:
| Years Ended December 31,
(in millions) | 2022 |  | 2021 |  | 2020
U.S. earnings (loss) | $ | 1,587.8 |  |  | $ | 900.1 |  |  | $ | (449.0) |
Non-U.S. earnings | 3,054.7 |  |  | 1,324.7 |  |  | 629.9 |
Earnings (loss) from consolidated companies before income taxes | $ | 4,642.5 |  |  | $ | 2,224.8 |  |  | $ | 180.9 |
Computed tax at the U.S. federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net of federal income tax benefit | 1.1 | % |  | 1.2 | % |  | (7.0) | %
Percentage depletion in excess of basis | (1.8) | % |  | (1.1) | % |  | (10.3) | %
Impact of non-U.S. earnings | 5.8 | % |  | 6.3 | % |  | 42.1 | %
Change in valuation allowance | — | % |  | (0.3) | % |  | (330.0) | %
Non-U.S. incentives | (2.6) | % |  | (5.7) | % |  | (35.6) | %
Withholding tax | 1.6 | % |  | 3.3 | % |  | 1.9 | %
Other items (none in excess of 5% of computed tax) | 1.3 | % |  | 2.2 | % |  | (1.9) | %
Effective tax rate | 26.4 | % |  | 26.9 | % |  | (319.8) | %
Schedule Of Deferred Tax Assets And Liabilities | Significant components of our deferred tax liabilities and assets as of December 31 were as follows:
| December 31,
(in millions) | 2022 |  | 2021
Deferred tax liabilities: |  |  |
Depreciation and amortization | $ | 430.5 |  |  | $ | 456.2 |
Depletion | 613.5 |  |  | 430.1 |
Partnership tax basis differences | 59.3 |  |  | 66.3 |
Other liabilities | 37.6 |  |  | 39.1 |
Total deferred tax liabilities | $ | 1,140.9 |  |  | $ | 991.7 |
Deferred tax assets: |  |  |
Capital loss carryforwards | 3.6 |  |  | — |
Foreign tax credit carryforwards | 736.7 |  |  | 775.1 |
Net operating loss carryforwards | 255.8 |  |  | 232.3 |
Pension plans and other benefits | 14.3 |  |  | 19.8 |
Asset retirement obligations | 369.4 |  |  | 337.3 |
Disallowed interest expense under §163(j) | — |  |  | 31.6 |
Other assets | 413.2 |  |  | 351.2 |
Subtotal | 1,793.0 |  |  | 1,747.3 |
Valuation allowance | 909.9 |  |  | 774.7 |
Net deferred tax assets | 883.1 |  |  | 972.6 |
Net deferred tax liabilities | $ | 257.8 |  |  | $ | 19.1 |
Summary Of Income Tax Uncertainties | A summary of gross unrecognized tax benefit activity is as follows:
| Years Ended December 31,
(in millions) | 2022 |  | 2021 |  | 2020
Gross unrecognized tax benefits, beginning of period | $ | 124.6 |  |  | $ | 36.9 |  |  | $ | 39.5 |
Gross increases: |  |  |  |  |
Prior period tax positions | 0.7 |  |  | 84.7 |  |  | — |
Current period tax positions | 3.0 |  |  | 3.0 |  |  | 2.8 |
Gross decreases: |  |  |  |  |
Prior period tax positions | (99.7) |  |  | — |  |  | (5.9) |
Currency translation | (3.4) |  |  | — |  |  | 0.5 |
Gross unrecognized tax benefits, end of period | $ | 25.2 |  |  | $ | 124.6 |  |  | $ | 36.9 |
Summary of Valuation Allowance | Changes to our income tax valuation allowance were as follows:
| Years Ended December 31,
(in millions) | 2022 |  | 2021 |  | 2020
Income tax valuation allowance, related to deferred income taxes |  |  |  |  |
Balance at beginning of period | $ | 774.7 |  |  | $ | 683.0 |  |  | $ | 1,457.1 |
Charges or (reductions) to costs and expenses | 135.2 |  |  | 91.7 |  |  | (774.1) |
Balance at end of period | $ | 909.9 |  |  | $ | 774.7 |  |  | $ | 683.0 |

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