XML 77 R55.htm IDEA: XBRL DOCUMENT v3.10.0.1
INCOME TAXES Part 1 (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Earnings from continuing operations before income taxes [Abstract]      
United States $ 718 $ 654 $ 422
Outside the United States 592 635 627
Total 1,310 1,289 1,049
United States [Abstract]      
Current 161 220 [1] (80)
Deferred (11) (383) [2] 214
Outside United States [Abstract]      
Current 86 62 91
Deferred (22) 2 (18)
State and other [Abstract]      
Current 30 13 2
Deferred (18) (13) (19)
Provision for (benefit from) income taxes 226 (99) 190
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount   71  
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount   533  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount   123  
Deferred tax charge (benefit) recorded in stockholders' equity [Abstract]      
Defined benefit pension and other postretirement benefit plans (10) (16) 21
Derivatives and hedging 3 8 105
Other comprehensive income (7) (8) 126
Income tax expense (benefit) included in consolidated financial statement [Abstract]      
Provision for (benefit from) income taxes 226 (99) 190
Other comprehensive income (7) (8) 126
Total 219 (107) 316
Reconciliation income tax rate [Abstract]      
Amount computed using the statutory rate 274 450 366
State income taxes, net 6 (4) (18)
Foreign rate variance (52) (150) (121)
Domestic manufacturing deduction 0 (18) (7)
Change in reserves for tax contingencies 21 20 0
General business credits (60) (65) (20)
U.S. tax on foreign earnings 8 29 25
Foreign tax credits (12) (26) (10)
Tax law changes and tax loss from outside-U.S. entity reorganizations 20 [3] (339) [3] 0
Other 21 4 (25)
Provision for (benefit from) income taxes 226 (99) 190
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Tax law changes and tax loss from outside-U.S. entity reorganizations $ 20 [3] (339) [3] 0
Tax benefit from finalization of prior year return   30 9
Tax benefit from restoration of tax basis   20 16
Tax benefit from foreign tax credits     $ 16
Tax settlement from tax ruling   $ 8  
Effective tax rate for the period (in hundredths) 17.00% (8.00%) 18.00%
Deferred tax assets [Abstract]      
Post-employment obligations $ 230 $ 242  
Net operating loss carryforwards 708 690  
Tax credit carryforwards 239 202  
Environmental reserves 70 72  
Unrealized derivative loss 18 17  
Other 94 90  
Total deferred tax assets 1,359 1,313  
Less: Valuation Allowance 466 410  
Deferred tax assets less valuation allowance 893 903  
Deferred tax liabilities [Abstract]      
Property, plant, and equipment (856) (835)  
Intangible assets (473) (535)  
Investments (274) (274)  
Other (131) (131)  
Total deferred tax liabilities (1,734) (1,775)  
Net deferred tax liabilities (841) (872)  
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Other noncurrent assets 43 21  
Deferred income tax liabilities (884) (893)  
Net deferred tax liabilities (841) (872)  
Operating Loss Carryforwards [Line Items]      
Tax law changes and tax loss from outside-U.S. entity reorganizations 20 [3] (339) [3] $ 0
2017 Tax Reform [Abstract]      
Tax law changes and tax loss from outside-U.S. entity reorganizations 20 [3] (339) [3] $ 0
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount   71  
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount   533  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount   123  
Due to and from tax authorities [Abstract]      
Miscellaneous receivables 135 215  
Payables and other current liabilities 43 58  
Other long-term liabilities 162 137  
Total income taxes payable 205 195  
Foreign Country [Member]      
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Valuation allowance on deferred tax asset resulting from net operating loss carryforwards 304    
Operating Loss Carryforwards [Line Items]      
Operating Loss Carryforwards 2,500    
Net operating loss carryforwards with expiration date $ 145    
Expiring period of net operating loss carryforwards, minimum (in years) 1 year    
Expiring period of net operating loss carryforwards, maximum (in years) 20 years    
Net operating loss carryforwards without expiration date $ 2,400    
Foreign tax credit carryforwards available to reduce possible future domestic income taxes 64    
Foreign Country [Member] | Solutia [Member]      
Operating Loss Carryforwards [Line Items]      
Tax Credit Carryforward, Valuation Allowance 48    
United States [Member]      
State and other [Abstract]      
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount   517  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount   72  
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Valuation allowance on deferred tax asset resulting from net operating loss carryforwards 20    
Operating Loss Carryforwards [Line Items]      
Operating Loss Carryforwards 12    
Tax Credit Carryforward, Valuation Allowance 36    
2017 Tax Reform [Abstract]      
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount   517  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount   72  
State and Local Jurisdiction [Member] | Solutia [Member]      
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Valuation allowance on deferred tax asset resulting from net operating loss carryforwards 54    
Other Noncurrent Liabilities [Member]      
State and other [Abstract]      
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount 56 60  
2017 Tax Reform [Abstract]      
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount $ 56 $ 60  
[1] A one-time transition tax of $71 million on deferred foreign income tax is included for 2017.
[2] Includes a one-time benefit of $517 million primarily due to the re-measurement of certain net deferred tax liabilities using the lower U.S. corporate income tax rate and a one-time $72 million valuation allowance on deferred tax assets for foreign tax credit carryforwards for 2017.
[3] Includes a one-time net benefit primarily due to the re-measurement of certain net deferred tax liabilities using the lower U.S. corporate income tax rate partially offset by the transition tax on deferred foreign income and changes in the valuation of deferred tax assets associated with tax law changes and the tax impact from intercompany reorganization activities in 2017 and a net incremental adjustment to those amounts under the Tax Reform Act in 2018.