v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of income before income taxes
Income (Loss) Before Income Taxes
Year ended December 31 (in millions)202320222021
Domestic$22,164 $19,329 $21,243 
Foreign (1,686)(10,045)(2,150)
$20,478 $9,284 $19,093 
Schedule for the components of income tax expense
Components of Income Tax Expense
Year ended December 31 (in millions)202320222021
Current Expense (Benefit):
Federal$6,270 $4,025 $2,355 
State1,591 961 669 
Foreign249 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 
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)202320222021
Federal tax at statutory rate$4,300 $1,950 $4,009 
State income taxes, net of federal benefit418 454 464 
Foreign income taxed at different rates306 519 392 
Adjustments to uncertain and effectively settled tax positions, net353 179 238 
Federal research and development credits
(131)(104)(85)
Excess tax benefits recognized on share-based compensation4 (30)(209)
Tax legislation8 (287)498 
Goodwill impairment 1,666 — 
Other113 12 (48)
Income tax expense (benefit)$5,371 $4,359 $5,259 
Schedule of the components of net deferred tax liability
Components of Net Deferred Tax Liability
December 31 (in millions)20232022
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 other4,100 3,210 
Less: Valuation allowance3,679 3,295 
 6,318 3,240 
Deferred Tax Liabilities:
Property and equipment and intangible assets29,337 29,688 
Investments1,002 265 
Long-term debt1,814 1,741 
Foreign subsidiaries and undistributed foreign earnings
59 55 
32,212 31,749 
Net deferred tax liability$25,894 $28,509 
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)202320222021
Beginning balance$3,295 $2,907 $2,312 
Additions charged to income tax expense and other accounts469 433 635 
Deductions from reserves84 45 40 
Ending balance$3,679 $3,295 $2,907 
Reconciliation of unrecognized tax benefits
Reconciliation of Unrecognized Tax Benefits
(in millions)
202320222021
Gross unrecognized tax benefits, January 1$2,161 $2,042 $1,879 
Additions based on tax positions related to the current year546 380 352 
Additions based on tax positions related to prior years1 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