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PROVISION FOR INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2016
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) | 2016 |  | 2015 |  | 2014
Earnings from continuing operations before income taxes |  |  |  |  |
United States | $ | 422 |  |  | $ | 618 |  |  | $ | 627 |
Outside the United States | 627 |  |  | 511 |  |  | 363 |
Total | $ | 1,049 |  |  | $ | 1,129 |  |  | $ | 990 |
Provision (benefit) for income taxes on earnings from continuing operations |  |  |  |  |  |  |  |
United States Federal |  |  |  |  |  |  |  |
Current | $ | (80 | ) |  | $ | 87 |  |  | $ | 64 |
Deferred | 214 |  |  | 119 |  |  | 135 |
Outside the United States |  |  |  |  |
Current | 91 |  |  | 59 |  |  | 66 |
Deferred | (18 | ) |  | 16 |  |  | (35 | )
State and other |  |  |  |  |
Current | 2 |  |  | 22 |  |  | 6 |
Deferred | (19 | ) |  | (28 | ) |  | (1 | )
Total | $ | 190 |  |  | $ | 275 |  |  | $ | 235 |
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) | 2016 |  | 2015 |  | 2014
Defined benefit pension and other postretirement benefit plans | $ | 21 |  |  | $ | 42 |  |  | $ | (11 | )
Cumulative translation adjustment | — |  |  | — |  |  | — |
Derivatives and hedging | 105 |  |  | 21 |  |  | (141 | )
Total | $ | 126 |  |  | $ | 63 |  |  | $ | (152 | )
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) | 2016 |  | 2015 |  | 2014
Continuing operations | $ | 190 |  |  | $ | 275 |  |  | $ | 235 |
Discontinued operations | — |  |  | — |  |  | 2 |
Other comprehensive income | 126 |  |  | 63 |  |  | (152 | )
Total | $ | 316 |  |  | $ | 338 |  |  | $ | 85 |
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) | 2016 |  | 2015 |  | 2014
Amount computed using the statutory rate | $ | 366 |  |  | $ | 393 |  |  | $ | 345 |
State income taxes, net | (18 | ) |  | (3 | ) |  | 4 |
Foreign rate variance | (121 | ) |  | (93 | ) |  | (105 | )
Domestic manufacturing deduction | (7 | ) |  | (12 | ) |  | (6 | )
Change in reserves for tax contingencies | — |  |  | (7 | ) |  | (6 | )
General business credits | (20 | ) |  | (15 | ) |  | (8 | )
U.S. tax on foreign earnings | 25 |  |  | 7 |  |  | 5 |
Other | (35 | ) |  | 5 |  |  | 6 |
Provision for income taxes | $ | 190 |  |  | $ | 275 |  |  | $ | 235 |
Effective income tax rate | 18 | % |  | 24 | % |  | 24 | %
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) | 2016 |  | 2015
Deferred tax assets |  |  |
Post-employment obligations | $ | 378 |  |  | $ | 471 |
Net operating loss carryforwards | 337 |  |  | 349 |
Tax credit carryforwards | 248 |  |  | 276 |
Environmental reserves | 119 |  |  | 122 |
Unrealized derivative loss | 50 |  |  | 162 |
Other | 186 |  |  | 193 |
Total deferred tax assets | 1,318 |  |  | 1,573 |
Less valuation allowance | 278 |  |  | 254 |
Deferred tax assets less valuation allowance | $ | 1,040 |  |  | $ | 1,319 |
Deferred tax liabilities |  |  |  |  |
Property, plant, and equipment | $ | (1,237 | ) |  | $ | (1,176 | )
Intangible assets | (847 | ) |  | (902 | )
Other | (128 | ) |  | (142 | )
Total deferred tax liabilities | $ | (2,212 | ) |  | $ | (2,220 | )
Net deferred tax liabilities | $ | (1,172 | ) |  | $ | (901 | )
As recorded in the Consolidated Statements of Financial Position: |  |  |  |  |
Other noncurrent assets | $ | 34 |  |  | $ | 27 |
Deferred income tax liabilities | (1,206 | ) |  | (928 | )
Net deferred tax liabilities | $ | (1,172 | ) |  | $ | (901 | )
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) | 2016 |  | 2015
Miscellaneous receivables | $ | 235 |  |  | $ | 92 |
Payables and other current liabilities | $ | 56 |  |  | $ | 33 |
Other long-term liabilities | 60 |  |  | 32 |
Total income taxes payable | $ | 116 |  |  | $ | 65 |
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) | 2016 |  | 2015 |  | 2014
Balance at January 1 | $ | 125 |  |  | $ | 117 |  |  | $ | 51 |
Adjustments based on tax positions related to current year | (7 | ) |  | (12 | ) | (1) | — |
Additions based on acquisitions | — |  |  | 27 |  |  | 72 |
Lapse of statute of limitations | (4 | ) |  | (7 | ) |  | (6 | )
Settlements | — |  |  | — |  |  | — |
Balance at December 31 | $ | 114 |  |  | $ | 125 |  |  | $ | 117 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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