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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table summarizes the difference between income tax expense at the United States statutory rate of 35% and the income tax expense at effective worldwide tax rates for the respective periods:

		Three Months Ended September 30,								Nine Months Ended September 30,
Millions of dollars		2015				2014				2015				2014
Earnings before income taxes		$	267			$	261			$	749			$	710
Income tax expense computed at United States statutory tax rate		93				91				262				249
Valuation allowance release		(68		)		(25		)		(126		)		(38		)
U.S. foreign income items, net of credits		(18		)		(34		)		(32		)		(59		)
Foreign government tax incentive (including BEFIEX in 2014)		—				(10		)		(8		)		(20		)
Other		10				4				20				(6		)
Income tax expense computed at effective worldwide tax rates		$	17			$	26			$	116			$	126

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- References

No definition available.

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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

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