Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2023 |
| Income Tax Disclosure [Abstract] |
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| Schedule of income before income taxes |
| | | | | | | | | | | | | | | | | | Income (Loss) Before Income Taxes | | | | | | | Year ended December 31 (in millions) | 2023 | | 2022 | | 2021 | | | | | | | | Domestic | $ | 22,164 | | | $ | 19,329 | | | $ | 21,243 | | | Foreign | (1,686) | | | (10,045) | | | (2,150) | | | $ | 20,478 | | | $ | 9,284 | | | $ | 19,093 | |
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| Schedule for the components of income tax expense |
| | | | | | | | | | | | | | | | | | Components of Income Tax Expense | | | | | | | Year ended December 31 (in millions) | 2023 | | 2022 | | 2021 | | Current Expense (Benefit): | | | | | | | Federal | $ | 6,270 | | | $ | 4,025 | | | $ | 2,355 | | | State | 1,591 | | | 961 | | | 669 | | | Foreign | 249 | | | 207 | | | 343 | | | 8,110 | | | 5,193 | | | 3,367 | | | Deferred Expense (Benefit): | | | | | | | Federal | (2,126) | | | (281) | | | 1,504 | | | State | (468) | | | (483) | | | 255 | | | Foreign | (145) | | | (70) | | | 133 | | | (2,739) | | | (834) | | | 1,892 | | | Income tax expense (benefit) | $ | 5,371 | | | $ | 4,359 | | | $ | 5,259 | |
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| Schedule of items that effect income tax expense |
Our income tax expense (benefit) differs from the federal statutory amount because of the effect of the items detailed in the table below. | | | | | | | | | | | | | | | | | | | Year ended December 31 (in millions) | 2023 | | 2022 | | 2021 | | Federal tax at statutory rate | $ | 4,300 | | | $ | 1,950 | | | $ | 4,009 | | | State income taxes, net of federal benefit | 418 | | | 454 | | | 464 | | | Foreign income taxed at different rates | 306 | | | 519 | | | 392 | | | | | | | | | | | | | | | Adjustments to uncertain and effectively settled tax positions, net | 353 | | | 179 | | | 238 | | | | | | | | | | | | | | Federal research and development credits | (131) | | | (104) | | | (85) | | | Excess tax benefits recognized on share-based compensation | 4 | | | (30) | | | (209) | | | Tax legislation | 8 | | | (287) | | | 498 | | | Goodwill impairment | — | | | 1,666 | | | — | | | Other | 113 | | | 12 | | | (48) | | | Income tax expense (benefit) | $ | 5,371 | | | $ | 4,359 | | | $ | 5,259 | |
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| Schedule of the components of net deferred tax liability |
| | | | | | | | | | | | Components of Net Deferred Tax Liability | | | | | December 31 (in millions) | 2023 | | 2022 | | Deferred Tax Assets: | | | | | Net operating loss and other loss carryforwards | $ | 3,530 | | | $ | 3,325 | | Advance on sale of investment (see Note 8) | 2,367 | | | — | | | | | | | Nondeductible accruals and other | 4,100 | | | 3,210 | | | Less: Valuation allowance | 3,679 | | | 3,295 | | | | 6,318 | | | 3,240 | | | Deferred Tax Liabilities: | | | | | Property and equipment and intangible assets | 29,337 | | | 29,688 | | | Investments | 1,002 | | | 265 | | | Long-term debt | 1,814 | | | 1,741 | | | | | | Foreign subsidiaries and undistributed foreign earnings | 59 | | | 55 | | | | | | | 32,212 | | | 31,749 | | | Net deferred tax liability | $ | 25,894 | | | $ | 28,509 | |
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| Schedule of changes in the valuation allowance for deferred tax assets |
The table below presents changes in our valuation allowance for deferred tax assets. | | | | | | | | | | | | | | | | | | | (in millions) | 2023 | | 2022 | | 2021 | | Beginning balance | $ | 3,295 | | | $ | 2,907 | | | $ | 2,312 | | | Additions charged to income tax expense and other accounts | 469 | | | 433 | | | 635 | | | Deductions from reserves | 84 | | | 45 | | | 40 | | | Ending balance | $ | 3,679 | | | $ | 3,295 | | | $ | 2,907 | |
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| Reconciliation of unrecognized tax benefits |
| | | | | | | | | | | | | | | | | | Reconciliation of Unrecognized Tax Benefits | | | | | | (in millions) | 2023 | | 2022 | | 2021 | | Gross unrecognized tax benefits, January 1 | $ | 2,161 | | | $ | 2,042 | | | $ | 1,879 | | | Additions based on tax positions related to the current year | 546 | | | 380 | | | 352 | | | Additions based on tax positions related to prior years | 1 | | | 56 | | | 111 | | | | | | | | | Reductions for tax positions of prior years | (43) | | | (145) | | | (181) | | | Reductions due to expiration of statutes of limitations | (56) | | | (148) | | | (107) | | | Settlements with tax authorities and other | (15) | | | (24) | | | (12) | | | Gross unrecognized tax benefits, December 31 | $ | 2,593 | | | $ | 2,161 | | | $ | 2,042 | | | | | | | | | | | | | |
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