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PROVISION FOR INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Components of Earnings (Loss) from Continuing Operations and Provisions for Income Taxes | Components of earnings from continuing operations before income taxes and the provision (benefit) for U.S. and other income taxes from continuing operations follow:
| For years ended December 31,
(Dollars in millions) | 2015 |  | 2014 |  | 2013
Earnings from continuing operations before income taxes |  |  |  |  |
United States | $ | 618 |  |  | $ | 627 |  |  | $ | 1,437 |
Outside the United States | 511 |  |  | 363 |  |  | 242 |
Total | $ | 1,129 |  |  | $ | 990 |  |  | $ | 1,679 |
Provision (benefit) for income taxes on earnings from continuing operations |  |  |  |  |  |  |  |
United States Federal |  |  |  |  |  |  |  |
Current | $ | 87 |  |  | $ | 64 |  |  | $ | 143 |
Deferred | 119 |  |  | 135 |  |  | 300 |
Outside the United States |  |  |  |  |  |
Current | 59 |  |  | 66 |  |  | 3 |
Deferred | 16 |  |  | (35 | ) |  | 15 |
State and other |  |  |  |  |  |
Current | 22 |  |  | 6 |  |  | 30 |
Deferred | (28 | ) |  | (1 | ) |  | 16 |
Total | $ | 275 |  |  | $ | 235 |  |  | $ | 507 |
Schedule of Deferred Tax Charge (Benefit) Recorded as a Component of Accumulated Other Comprehensive Loss | The following represents the deferred tax charge (benefit) recorded as a component of accumulated other comprehensive loss in stockholders' equity.
| For years ended December 31,
(Dollars in millions) | 2015 |  | 2014 |  | 2013
Unrecognized losses and prior service credits for benefit plans | $ | 42 |  |  | $ | (11 | ) |  | $ | 8 |
Cumulative translation adjustment | — |  |  | — |  |  | (1 | )
Unrealized gains (losses) on cash flow hedges | 21 |  |  | (141 | ) |  | 5 |
Total | $ | 63 |  |  | $ | (152 | ) |  | $ | 12 |
Schedule of Income Tax Expense (Benefit) Included in Consolidated Financial Statement | Total income tax expense (benefit) included in the consolidated financial statements was composed of the following:
| For years ended December 31,
(Dollars in millions) | 2015 |  | 2014 |  | 2013
Continuing operations | $ | 275 |  |  | $ | 235 |  |  | $ | 507 |
Discontinued operations | — |  |  | 2 |  |  | — |
Other comprehensive income | 63 |  |  | (152 | ) |  | 12 |
Total | $ | 338 |  |  | $ | 85 |  |  | $ | 519 |
Schedule of Reconciliation of Income Taxes on Earnings from Continuing Operations at Federal Statutory Income Tax Rate | Differences between the provision for income taxes on earnings from continuing operations and income taxes computed using the U.S. Federal statutory income tax rate follow:
| For years ended December 31,
(Dollars in millions) | 2015 |  | 2014 |  | 2013
Amount computed using the statutory rate | $ | 393 |  |  | $ | 345 |  |  | $ | 587 |
State income taxes, net | (3 | ) |  | 4 |  |  | 30 |
Foreign rate variance | (93 | ) |  | (105 | ) |  | (55 | )
Domestic manufacturing deduction | (12 | ) |  | (6 | ) |  | (17 | )
Change in reserves for tax contingencies | (7 | ) |  | (6 | ) |  | (16 | )
General business credits | (15 | ) |  | (8 | ) |  | (6 | )
Other | 12 |  |  | 11 |  |  | (16 | )
Provision for income taxes | $ | 275 |  |  | $ | 235 |  |  | $ | 507 |
Effective income tax rate | 24 | % |  | 24 | % |  | 30 | %
Schedule of Significant Components of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities follow:
| December 31,
(Dollars in millions) | 2015 |  | 2014
Deferred tax assets |  |  |
Post-employment obligations | $ | 471 |  |  | $ | 529 |
Net operating loss carryforwards | 349 |  |  | 470 |
Tax credit carryforwards | 276 |  |  | 239 |
Environmental reserves | 122 |  |  | 123 |
Unrealized derivative loss | 162 |  |  | 165 |
Other | 193 |  |  | 294 |
Total deferred tax assets | 1,573 |  |  | 1,820 |
Less valuation allowance | 254 |  |  | 264 |
Deferred tax assets less valuation allowance | $ | 1,319 |  |  | $ | 1,556 |
Deferred tax liabilities |  |  |  |  |
Depreciation | $ | (1,176 | ) |  | $ | (1,144 | )
Amortization | (902 | ) |  | (1,001 | )
Other | (142 | ) |  | (158 | )
Total deferred tax liabilities | $ | (2,220 | ) |  | $ | (2,303 | )
Net deferred tax liabilities | $ | (901 | ) |  | $ | (747 | )
As recorded in the Consolidated Statements of Financial Position: |  |  |  |  |
Other current assets | $ | — |  |  | $ | 177 |
Other noncurrent assets | 27 |  |  | 28 |
Payables and other current liabilities | — |  |  | (6 | )
Deferred income tax liabilities | (928 | ) |  | (946 | )
Net deferred tax liabilities | $ | (901 | ) |  | $ | (747 | )
Schedule of Tax Receivables and Payables | Amounts due to and from tax authorities as recorded in the Consolidated Statements of Financial Position:
| December 31,
(Dollars in millions) | 2015 |  | 2014
Miscellaneous receivables | $ | 92 |  |  | $ | 97 |
Payables and other current liabilities | $ | 33 |  |  | $ | 23 |
Other long-term liabilities | 32 |  |  | 24 |
Total income taxes payable | $ | 65 |  |  | $ | 47 |
Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
(Dollars in millions) | 2015 |  | 2014 |  | 2013
Balance at January 1 | $ | 117 |  |  | $ | 51 |  |  | $ | 65 |
Additions based on tax positions related to current year | — |  |  | — |  |  | — |
Additions based on acquisitions | 27 |  |  | 72 |  |  | — |
Lapse of statute of limitations | (7 | ) |  | (6 | ) |  | — |
Settlements | — |  |  | — |  |  | (14 | )
Balance at December 31 | $ | 137 |  |  | $ | 117 |  |  | $ | 51 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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