XML 54 R33.htm IDEA: XBRL DOCUMENT v3.24.2

INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table summarizes the difference between income tax expense (benefit) at the U.S. statutory rate of 21% and the income tax expense (benefit) at effective worldwide tax rates for the respective periods:

			Three Months Ended June 30,												Six Months Ended June 30,
Millions of dollars			2024						2023						2024						2023
Earnings (Loss) before income taxes			$	30					$	204					$	(148)					$	95
Income tax expense (benefit) computed at United States statutory tax rate			6						43						(31)						20
State and local taxes, net of federal tax benefit			(54)						4						(55)						5
Valuation allowances			386						17						405						21
Audit and Settlements			11						34						13						54
U.S. foreign income items, net of credits			(2)						—						(15)						2
Sale of minority shares and capital gains			(2)						—						77						—
Legal Entity restructuring tax impact			(559)						—						(594)						—
Non deductible impairments			15						1						64						51
Non deductible fines and penalties			—						10						—						20
Other			(7)						5						6						9
Income tax expense (benefit) computed at effective worldwide tax rates			$	(206)					$	114					$	(130)					$	182

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration