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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income taxes were as follows (in millions):

		Years Ended December 31,
		2017				2016				2015
Domestic		$	(470	)		$	(2,095	)		$	(1,577	)
Foreign			78				(528	)			988
		$	(392	)		$	(2,623	)		$	(589	)

Components of Provision for Income Taxes

The components of the provision for income taxes consisted of (in millions):

		Years Ended December 31,
		2017				2016				2015
Current:
Federal		$	23			$	(79	)		$	30
State			1				(4	)			(58	)
Foreign			161				74				464
Total current income tax provision			185				(9	)			436
Deferred:
Federal			(332	)			(132	)			(41	)
State			(2	)			(7	)			(38	)
Foreign			(7	)			(59	)			(179	)
Total deferred income tax provision			(341	)			(198	)			(258	)
Total income tax provision		$	(156	)		$	(207	)		$	178

Difference Between Effective Tax Rate

The difference between the effective tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows (in millions):

		Years Ended December 31,
		2017				2016				2015
Federal income tax at U.S. statutory rate		$	(137	)		$	(918	)		$	(206	)
Foreign income tax rate differential			(21	)			32				(110	)
Goodwill impairment			—				271				462
Nondeductible expenses			38				30				66
Foreign dividends, net of foreign tax credits			(132	)			(25	)			28
Tax rate change on timing differences			(245	)			(8	)			(45	)
Change in uncertain tax positions			81				11				69
Prior years taxes			(26	)			(29	)			(47	)
Tax impact on foreign exchange			5				(4	)			(46	)
Change in deferred tax valuation allowance			280				476				15
Other			1				(43	)			(8	)
Total income tax provision		$	(156	)		$	(207	)		$	178

Significant Components of Deferred Tax Assets and Liability

Significant components of our deferred tax assets and liabilities were as follows (in millions):

		December 31,
		2017				2016
Deferred tax assets:
Allowances and operating liabilities		$	355			$	534
Net operating loss carryforwards			182				153
Postretirement benefits			31				60
Tax credit carryforwards			1,002				405
Other			78				164
Valuation allowance			(1,202	)			(544	)
Total deferred tax assets			446				772
Deferred tax liabilities:
Tax over book depreciation			174				267
Intangible assets			716				1,148
Deferred income			111				185
Accrued tax on unremitted earnings			17				53
Other			92				97
Total deferred tax liabilities			1,110				1,750
Net deferred tax liability		$	664			$	978

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

		2017				2016				2015
Unrecognized tax benefit at beginning of year		$	78			$	46			$	115
Gross increase for current period tax positions			10				3				8
Gross increase for tax positions in prior years			64				65				75
Gross decrease for tax positions in prior years			(14	)			(21	)			(75	)
Settlements			—				(3	)			(69	)
Lapse of statute of limitations			(6	)			(12	)			(8	)
Unrecognized tax benefit at end of year		$	132			$	78			$	46

Summary of Net Operating Loss Carryforwards

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2017 were as follows (in millions):

		Federal				State				Foreign				Total
2018 - 2021 Expiration		$	6			$	2			$	57			$	65
2022 - 2033 Expiration			16				16				123				155
2034 - 2037 Expiration			—				127				97				224
Unlimited Expiration			—				—				372				372
Total Net Operating Loss (NOL)		$	22			$	145			$	649			$	816
Tax Effected NOL		$	5			$	8			$	169			$	182
Valuation Allowance (VA)			(4	)			(8	)			(145	)			(157	)
NOL Net of VA		$	1			$	—			$	24			$	25

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