Rendering

Component: (Network and Table)
Network
2317301 - Disclosure - Income Taxes (Tables)
(http://www.adm.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Components Of Earnings Before Income Taxes by Geographic Region
The following table sets forth the geographic split of earnings before income taxes:

 
Year Ended
(In millions)
December 31
 
2016
 
2015
 
2014
 
 
 
 
 
 
United States
$
1,215

 
$
1,155

 
$
2,224

Foreign
607

 
1,129

 
906

 
$
1,822

 
$
2,284

 
$
3,130

 
 
Significant Components Of Income Taxes
Significant components of income taxes are as follows:

 
Year Ended
(In millions)
December 31
 
2016
 
2015
 
2014
 
 
 
 
 
 
Current
 
 
 
 
 
Federal
$
327

 
$
270

 
$
641

State
5

 
17

 
57

Foreign
146

 
158

 
235

Deferred
 
 
 
 
 

Federal
18

 
17

 
(29
)
State
28

 
9

 
28

Foreign
10

 
(33
)
 
(55
)
 
$
534

 
$
438

 
$
877

 
 
Significant Components Of Deferred Tax Liabilities And Assets
Significant components of deferred tax liabilities and assets are as follows:

 
December 31, 2016
 
December 31, 2015
 
(In millions)
Deferred tax liabilities
 
 
 
Property, plant, and equipment
$
1,612

 
$
1,651

Equity in earnings of affiliates
361

 
306

Debt exchange
132

 
133

Inventories
41

 
18

Other
105

 
109

 
$
2,251

 
$
2,217

Deferred tax assets
 
 
 

Pension and postretirement benefits
$
307

 
$
374

Stock compensation
81

 
70

Foreign tax credit carryforwards
95

 
90

Foreign tax loss carryforwards
278

 
301

Capital loss carryforwards
57

 
22

State tax attributes
62

 
62

Unrealized foreign currency losses
58

 
71

Reserves and other accruals

 
26

Other
18

 
125

Gross deferred tax assets
956

 
1,141

Valuation allowances
(216
)
 
(302
)
Net deferred tax assets
$
740

 
$
839

 
 
 
 
Net deferred tax liabilities
$
1,511

 
$
1,378

 
 
 
 
The net deferred tax liabilities are classified as follows:
 
 
 

Noncurrent assets (foreign)
$
158

 
$
185

Noncurrent liabilities
(1,472
)
 
(1,394
)
Noncurrent liabilities (foreign)
(197
)
 
(169
)
 
$
(1,511
)
 
$
(1,378
)
 
 
Reconciliation Of The Statutory Federal Income Tax Rate To The Company's Effective Tax Rate On Earnings
Reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate on earnings is as follows:
 
 
Year Ended
 
December 31
 
2016
 
2015
 
2014
 
 
 
 
 
 
Statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal tax benefit
1.4

 
0.8

 
2.1

Foreign earnings taxed at rates other than the U.S. statutory rate
(4.4
)
 
(9.9
)
 
(4.8
)
Foreign currency effects/remeasurement
2.2

 
(1.8
)
 
0.1

Income tax adjustment to filed returns
0.8

 
1.9

 
(2.5
)
Tax benefit on U.S. biodiesel credits
(3.3
)
 
(1.6
)
 
(1.1
)
Tax benefit on U.S. qualified production activity deduction
(1.4
)
 
(1.8
)
 
(1.8
)
Valuation allowances
0.6

 
(3.1
)
 

Other
(1.6
)
 
(0.3
)
 
1.0

Effective income tax rate
29.3
 %
 
19.2
 %
 
28.0
 %
 
 
Unrecognized Tax Benefits
The following table sets forth a rollforward of activity of unrecognized tax benefits for the year ended December 31, 2016 and 2015 as follows:
 
 
Unrecognized Tax Benefits
 
December 31, 2016
 
December 31, 2015
 
(In millions)
Beginning balance
$
49

 
$
72

Additions related to current year’s tax positions
1

 
1

Additions related to prior years’ tax positions
16

 
17

Additions related to acquisitions

 
7

Reductions related to prior years’ tax positions

 
(19
)
Reductions related to lapse of statute of limitations
(1
)
 
(6
)
Settlements with tax authorities
(10
)
 
(23
)
Ending balance
$
55

 
$
49