Kimberly-Clark 2015 Annual Report Download - page 58

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Note 14 . Income Taxes
Ananalysisoftheprovisionforincometaxesfollows:
Year Ended December 31
2015
2014
2013
Currentincometaxes
UnitedStates $ 223
$ 350
$ 292
State 56
48
99
Othercountries 394
387
286
Total 673
785
677
Deferredincometaxes
UnitedStates (180)
67
85
State (74)
(16)
14
Othercountries (1)
20
52
Total (255)
71
151
Totalprovisionforincometaxes $ 418
$ 856
$ 828
Incomefromcontinuingoperationsbeforeincometaxesisearnedinthefollowingtaxjurisdictions:
Year Ended December 31
2015
2014
2013
UnitedStates $ 451
$ 1,571
$ 1,557
Othercountries 884
684
1,084
Totalincomebeforeincometaxes $ 1,335
$ 2,255
$ 2,641
Deferredincometaxassetsandliabilitiesarecomposedofthefollowing:
December 31
2015
2014
Deferredtaxassets
Pensionandotherpostretirementbenefits $ 682
$ 883
Taxcreditsandlosscarryforwards 443
538
Other 599
667
1,724
2,088
Valuationallowance (274)
(215)
Totaldeferredtaxassets 1,450
1,873
Deferredtaxliabilities
Pensionandotherpostretirementbenefits 254
260
Property,plantandequipment,net 1,118
1,162
Investmentsinsubsidiaries 186
223
Other 281
339
Totaldeferredtaxliabilities 1,839
1,984
Netdeferredtaxassets(liabilities) $ (389)
$ (111)
54 KIMBERLY-CLARKCORPORATION - 2015 Annual Report