Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details)

v3.6.0.2
INCOME TAXES (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income before income taxes:      
U.S. income $ 995 $ 1,275 $ 1,407
Foreign income 935 750 1,027
INCOME BEFORE INCOME TAXES 1,930 2,025 2,434
Current:      
U.S. federal and state 211 516 470
Foreign 213 147 197
Total current 424 663 667
Deferred:      
U.S. federal and state 57 (151) 39
Foreign (7) 43 (8)
Total deferred 50 (108) 31
Income tax expense $ 474 $ 555 $ 698
Reconciliation of the income tax provision      
Statutory U.S. federal income tax rate 35.00% 35.00% 35.00%
State income tax, net of federal effect 0.80% 1.20% 1.10%
Differences in rates and taxability of foreign subsidiaries and joint ventures (7.20%) (6.60%) (5.70%)
Research tax credits (1.70%) (1.40%) (1.50%)
Other, net (2.30%) (0.80%) (0.20%)
Effective Income Tax Rate Reconciliation, Percent 24.60% 27.40% 28.70%
Income Tax Reconciliation, Increase (Decrease) in Effective Income Tax Rate, Percent (2.80%)    
Income tax disclosures      
Permanently reinvested retained earnings $ 3,400 $ 3,300 $ 3,800
U.S. deferred tax liability 59 69  
Income (Loss) from Equity Method Investments - Foreign 225 213 212
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount for Repatriation of Equity Earnings 13 $ 20 $ 14
China      
Income tax disclosures      
U.S. deferred tax liability 139    
Retained earnings and related cumulative translation adjustments in China operations $ 616