XML 85 R59.htm IDEA: XBRL DOCUMENT v3.25.0.1
INCOME TAXES Part 1 (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings from continuing operations before income taxes [Abstract]      
United States $ 147 $ 357 $ 205
Outside the United States 931 730 772
Total 1,078 1,087 977
United States [Abstract]      
Current 36 133 179
Deferred (80) (39) (76)
Outside United States [Abstract]      
Current 176 153 105
Deferred 41 (35) (10)
State and other [Abstract]      
Current 10 7 33
Deferred (13) (28) (50)
Provision for income taxes 170 191 181
Deferred tax charge (benefit) recorded in stockholders' equity [Abstract]      
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax 19 11 0
Defined benefit pension and other postretirement benefit plans (3) (6) (7)
Derivatives and hedging 11 (9) (1)
Other comprehensive income 27 (4) (8)
Income tax expense (benefit) included in consolidated financial statement [Abstract]      
Provision for income taxes 170 191 181
Other comprehensive income 27 (4) (8)
Total 197 187 173
Reconciliation income tax rate [Abstract]      
Amount computed using the statutory rate 226 228 205
State income taxes, net (21) (26) (27)
Foreign rate variance (31) (78) (16)
Change in reserves for tax contingencies 40 105 27
General business credits (64) (81) (44)
U.S. tax on foreign earnings, net of credits (5) 22 (17)
Divestitures 7 14 37
Other 18 7 16
Provision for income taxes $ 170 $ 191 $ 181
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Effective tax rate for the period (in hundredths) 16.00% 18.00% 19.00%
Deferred tax assets [Abstract]      
Post-employment obligations $ 132 $ 158  
Net operating loss carryforwards 657 690  
Tax credit carryforwards 313 268  
Environmental contingencies 68 68  
Capitalized research and development expenses 421 322  
Other 198 264  
Total deferred tax assets 1,789 1,770  
Less: Valuation allowance 686 183  
Deferred tax assets less valuation allowance 1,103 1,587  
Deferred tax liabilities [Abstract]      
Property, plant, and equipment (961) (952)  
Intangible assets (251) (270)  
Investments 0 (516)  
Deferred Tax Liabilities, Tax Deferred Income (166) (160)  
Other (149) (134)  
Total deferred tax liabilities (1,527) (2,032)  
Net deferred tax liabilities (424) (445)  
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Net deferred tax liabilities (424) (445)  
Undistributed Earnings of Foreign Subsidiaries 4,000    
Deferred Tax Liabilities, Net 424 445  
U.S. tax on foreign earnings, net of credits (5) 22 $ (17)
Deferred Tax Assets, Net of Valuation Allowance 1,103 1,587  
Due to and from tax authorities [Abstract]      
Miscellaneous receivables 73 62  
Payables and other current liabilities 229 133  
Other long-term liabilities 302 287  
Total income taxes payable 531 420  
Operating Loss Carryforwards [Line Items]      
Undistributed Earnings of Foreign Subsidiaries 4,000    
Deferred Tax Liabilities, Net 424 445  
U.S. tax on foreign earnings, net of credits (5) 22 $ (17)
Deferred Tax Assets, Net of Valuation Allowance 1,103 1,587  
Foreign Country [Member]      
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Operating Loss Carryforwards 2,400    
Net operating loss carryforwards with expiration date $ 800    
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 $ 1,600    
Operating Loss Carryforwards, Valuation Allowance 551    
Foreign tax credit carryforwards available to reduce possible future domestic income taxes 112    
Operating Loss Carryforwards [Line Items]      
Operating Loss Carryforwards 2,400    
Net operating loss carryforwards with expiration date $ 800    
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 $ 1,600    
Operating Loss Carryforwards, Valuation Allowance 551    
Foreign tax credit carryforwards available to reduce possible future domestic income taxes 112    
Foreign Country [Member] | Solutia [Member]      
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Tax Credit Carryforward, Valuation Allowance 103    
Operating Loss Carryforwards [Line Items]      
Tax Credit Carryforward, Valuation Allowance 103    
United States [Member]      
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Operating Loss Carryforwards 0    
Operating Loss Carryforwards [Line Items]      
Operating Loss Carryforwards 0    
State and Local Jurisdiction [Member] | Solutia [Member]      
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Operating Loss Carryforwards, Valuation Allowance 29    
Operating Loss Carryforwards [Line Items]      
Operating Loss Carryforwards, Valuation Allowance 29    
Other Noncurrent Assets [Member]      
Deferred tax assets [Abstract]      
Deferred tax assets less valuation allowance 109 156  
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Deferred Tax Assets, Net of Valuation Allowance 109 156  
Operating Loss Carryforwards [Line Items]      
Deferred Tax Assets, Net of Valuation Allowance 109 156  
Other Noncurrent Liabilities [Member]      
Deferred tax liabilities [Abstract]      
Net deferred tax liabilities (533) (601)  
As recorded in the Consolidated Statements of Financial Position [Abstract]      
Net deferred tax liabilities (533) (601)  
Deferred Tax Liabilities, Net 533 601  
Operating Loss Carryforwards [Line Items]      
Deferred Tax Liabilities, Net $ 533 $ 601