DELPHI 2014 Annual Report Download - page 115
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93
14. INCOME TAXES
Income before income taxes and equity income for U.S. and non-U.S. operations are as follows:
Year Ended December 31,
2014 2013 2012
(in millions)
U.S. income..................................................................................................... $ 249 $ 233 $ 470
Non-U.S. income............................................................................................. 1,456 1,290 875
Income before income taxes and equity income............................................. $ 1,705 $ 1,523 $ 1,345
The provision (benefit) for income taxes is comprised of:
Year Ended December 31,
2014 2013 2012
(in millions)
Current income tax expense:
U.S. federal................................................................................................... $ 55 $ 53 $ 71
Non-U.S........................................................................................................ 223 247 199
U.S. state and local ....................................................................................... 10 6 5
Total current............................................................................................. 288 306 275
Deferred income tax (benefit) expense, net:
U.S. federal................................................................................................... (37)(28) 24
Non-U.S........................................................................................................ 33 (21)(88)
U.S. state and local ....................................................................................... (2)(1) 1
Total deferred........................................................................................... (6)(50)(63)
Total income tax provision.................................................................. $ 282 $ 256 $ 212
The current income tax payable was reduced by $9 million, $1 million and $0 million in the years ended December 31,
2014, 2013 and 2012, respectively, for excess tax deductions attributable to stock-based compensation. The related income tax
benefits are recorded as increases to additional paid-in capital.
Cash paid or withheld for income taxes was $287 million, $276 million and $280 million for the years ended December
31, 2014, 2013 and 2012, respectively.