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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes

Provision (benefit) for income taxes calculated based on components of earnings (loss) before income taxes

Continuing operations		2011			2010			2009
U.S.		$	13		$	(117	)	$	(215	)
Non-U.S.			(419	)		541			430
		$	(406	)	$	424		$	215

Discontinued operations		2011			2010			2009
U.S.		$	—		$	—		$	—
Non-U.S.			(2	)		(296	)		110
		$	(2	)	$	(296	)	$	110

Provision for income taxes

		2011			2010			2009
Current:
U.S.		$	(12	)	$	—		$	—
Non-U.S.			139			141			67
			127			141			67
Deferred:
U.S.			11			(10	)		(50	)
Non-U.S.			(53	)		(2	)		66
			(42	)		(12	)		16
Total:
U.S.			(1	)		(10	)		(50	)
Non-U.S.			86			139			133
Total for continuing operations			85			129			83
Total for discontinued operations			(3	)		4			44
		$	82		$	133		$	127

Reconciliation of the provision for income taxes

		2011			2010			2009
Tax provision on pretax earnings (loss) from continuing operations at statutory U.S. Federal tax rate		$	(142	)	$	148		$	75
Increase (decrease) in provision for income taxes due to:
Non-U.S. income taxes			(10	)		(25	)		(18	)
Goodwill impairment			224
State taxes, net of federal benefit			(1	)		(2	)		(1	)
Intraperiod tax allocation—U.S.						(8	)		(48	)
Tax law changes			3			1			(3	)
Changes in valuation allowance			15			11			75
Other items			(4	)		4			3
Provision for income taxes		$	85		$	129		$	83

Significant components of deferred tax assets and liabilities and deferred taxes included in the Consolidated Balance Sheets

		2011			2010
Deferred tax assets:
Accrued postretirement benefits		$	90		$	87
Asbestos-related liabilities			164			167
Foreign tax credit			338			312
Operating and capital loss carryovers			438			455
Other credit carryovers			51			48
Accrued liabilities			118			127
Pension liability			224			138
Other			70			69
Total deferred tax assets			1,493			1,403
Deferred tax liabilities:
Property, plant, and equipment			121			169
Exchangeable notes			23			28
Inventory			1			12
Other			43			80
Total deferred tax liabilities			188			289
Valuation allowance			(1,176	)		(1,077	)
Net deferred taxes		$	129		$	37

		2011			2010
Prepaid expenses		$	48		$	8
Other assets			295			232
U.S. and foreign income taxes			(2	)
Deferred taxes			(212	)		(203	)
Net deferred taxes		$	129		$	37

Reconciliation of the gross unrecognized tax benefits

		2011			2010			2009
Balance at January 1		$	143		$	120		$	90
Additions and reductions for tax positions of prior years			(15	)		26			19
Additions based on tax positions related to the current year			30			5			11
Additions for tax positions of prior years on acquisitions						12
Reductions due to the lapse of the applicable statute of limitations			(8	)		(1	)		(2	)
Reductions due to settlements			(18	)		(13	)
Foreign currency translation			(7	)		(6	)		2
Balance at December 31		$	125		$	143		$	120
Unrecognized tax benefits, which if recognized, would impact the Company's effective income tax rate		$	114		$	125		$	89
Accrued interest and penalties at December 31		$	49		$	36		$	22
Interest and penalties included in tax expense for the years ended December 31		$	18		$	4		$	10

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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.

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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