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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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,
		2018				2017				2016
Domestic		$	(168	)		$	(470	)		$	(2,095	)
Foreign			209				78				(528	)
		$	41			$	(392	)		$	(2,623	)

Components of Provision for Income Taxes

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

		Years Ended December 31,
		2018				2017				2016
Current:
Federal		$	(5	)		$	23			$	(79	)
State			(3	)			1				(4	)
Foreign			134				161				74
Total current income tax provision			126				185				(9	)
Deferred:
Federal			11				(332	)			(132	)
State			-				(2	)			(7	)
Foreign			(74	)			(7	)			(59	)
Total deferred income tax provision			(63	)			(341	)			(198	)
Total income tax provision		$	63			$	(156	)		$	(207	)

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,
	2018				2017				2016
Federal income tax at U.S. statutory rate	$	9			$	(137	)		$	(918	)
Foreign income tax rate differential		(3	)			(21	)			32
Goodwill impairment		—				—				271
Nondeductible expenses		20				38				30
Foreign dividends, net of foreign tax credits		27				(132	)			(25	)
Tax rate change on timing differences		(7	)			(245	)			(8	)
Change in uncertain tax positions		(5	)			81				11
Prior years taxes		(13	)			(26	)			(29	)
Tax impact on foreign exchange		(3	)			5				(4	)
Change in deferred tax valuation allowance		49				280				476
State income taxes - net of federal benefit		(3	)			(1	)			(10	)
Tax exempt income		(5	)			-				(7	)
Income tax credits		(3	)			(4	)			-
Other		—				6				(26	)
Total income tax provision	$	63			$	(156	)		$	(207	)

Significant Components of Deferred Tax Assets and Liability

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

		December 31,
		2018				2017
Deferred tax assets:
Allowances and operating liabilities		$	293			$	355
Net operating loss carryforwards			182				182
Postretirement benefits			30				31
Tax credit carryforwards			768				1,002
Other			95				78
Valuation allowance			(955	)			(1,202	)
Total deferred tax assets			413				446
Deferred tax liabilities:
Tax over book depreciation			139				174
Intangible assets			688				716
Deferred income			70				111
Accrued tax on unremitted earnings			17				17
Other			52				92
Total deferred tax liabilities			966				1,110
Net deferred tax liability		$	553			$	664

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):

		2018				2017				2016
Unrecognized tax benefit at beginning of year		$	132			$	78			$	46
Gross increase for current period tax positions			15				10				3
Gross increase for tax positions in prior years			31				64				65
Gross decrease for tax positions in prior years			(10	)			(14	)			(21	)
Settlements			(69	)			—				(3	)
Lapse of statute of limitations			(1	)			(6	)			(12	)
Unrecognized tax benefit at end of year		$	98			$	132			$	78

Summary of Net Operating Loss Carryforwards

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2018 were as follows (in millions):

		Federal				State				Foreign				Total
2019 - 2021 Expiration		$	6			$	2			$	51			$	59
2022 - 2033 Expiration			16				20				142				178
2034 - 2038 Expiration			12				122				94				228
Unlimited Expiration			—				—				428				428
Total Net Operating Loss (NOL)		$	34			$	144			$	715			$	893
Tax Effected NOL		$	7			$	8			$	167			$	182
Valuation Allowance (VA)			(6	)			(8	)			(140	)			(154	)
Tax Effected NOL Net of VA		$	1			$	—			$	27			$	28

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