v2.4.1.9
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
Following is the composition of income tax expense:
 
2014
 
2013
 
2012
Current:
 
 
 
 
 
Federal
$
168.9

 
$
259.1

 
$
596.8

Foreign
406.2

 
553.2

 
540.6

State
(2.1
)
 
126.3

 
56.2

Total current tax expense
573.0

 
938.6

 
1,193.6

Deferred:
 
 
 
 
 
Federal
(83.3
)
 
297.0

 
87.0

Foreign
120.2

 
(28.2
)
 
29.9

State
(0.1
)
 
(2.9
)
 
9.1

Total deferred tax expense
36.8

 
265.9

 
126.0

Income taxes
$
609.8

 
$
1,204.5

 
$
1,319.6
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Significant components of our deferred tax assets and liabilities as of December 31 are as follows:
 
2014
 
2013
Deferred tax assets:
 
 
 
Compensation and benefits
$
897.3

 
$
639.8

Purchases of intangible assets
473.3

 
418.8

Tax credit carryforwards and carrybacks
279.4

 
494.6

Tax loss carryforwards and carrybacks
265.5

 
311.7

Product return reserves
241.8

 
313.7

Debt
176.0

 
110.0

Contingencies
68.9

 
106.0

Intercompany profit in inventories
—

 
104.5

Other
633.3

 
595.0

Total gross deferred tax assets
3,035.5

 
3,094.1

Valuation allowances
(601.1
)
 
(647.1
)
Total deferred tax assets
2,434.4

 
2,447.0

Deferred tax liabilities:
 
 
 
Unremitted earnings
(737.1
)
 
(898.3
)
Inventories
(684.6
)
 
(685.6
)
Intangibles
(582.6
)
 
(598.9
)
Property and equipment
(424.7
)
 
(379.1
)
Prepaid employee benefits
(275.8
)
 
(446.2
)
Financial instruments
(161.5
)
 
(109.6
)
Total deferred tax liabilities
(2,866.3
)
 
(3,117.7
)
Deferred tax liabilities - net
$
(431.9
)
 
$
(670.7
)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Following is a reconciliation of the income tax expense applying the U.S. federal statutory rate to income before income taxes to reported income tax expense:
 
2014
 
2013
 
2012
Income tax at the U.S. federal statutory tax rate
$
1,050.1

 
$
2,061.3

 
$
1,892.9

Add (deduct):
 
 
 
 
 
International operations, including Puerto Rico
(344.8
)
 
(778.3
)
 
(593.8
)
General business credits
(44.3
)
 
(175.6
)
 
(11.2
)
Other
(51.2
)
 
97.1

 
31.7

Income taxes
$
609.8

 
$
1,204.5

 
$
1,319.6
Summary of Income Tax Contingencies [Table Text Block]
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
 
2014
 
2013
 
2012
Beginning balance at January 1
$
1,136.4

 
$
1,534.3

 
$
1,369.3

Additions based on tax positions related to the current year
126.4

 
142.5

 
144.8

Additions for tax positions of prior years
132.6

 
251.5

 
70.1

Reductions for tax positions of prior years
(32.1
)
 
(358.2
)
 
(38.5
)
Settlements
(4.2
)
 
(404.9
)
 
(9.2
)
Lapses of statutes of limitation
(3.5
)
 
(24.9
)
 
(4.6
)
Changes related to the impact of foreign currency translation
(16.8
)
 
(3.9
)
 
2.4

Ending balance at December 31
$
1,338.8

 
$
1,136.4

 
$
1,534.3