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Income Taxes (Tables)

12 Months Ended

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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