| As of December | ||||||||||||
| in millions | 2013 | 2012 | 2011 | |||||||||
|
Balance, beginning of year |
$2,237 | $1,887 | $2,081 | |||||||||
|
Increases based on tax positions |
144 | 190 | 171 | |||||||||
|
Increases based on tax positions |
149 | 336 | 278 | |||||||||
|
Decreases related to tax positions |
(471 | ) | (109 | ) | (41 | ) | ||||||
|
Decreases related to settlements |
(299 | ) | (35 | ) | (638 | ) | ||||||
|
Acquisitions/(dispositions) |
— | (47 | ) | 47 | ||||||||
|
Exchange rate fluctuations |
5 | 15 | (11 | ) | ||||||||
|
Balance, end of year |
$1,765 | $2,237 | $1,887 | |||||||||
|
Related deferred income tax asset 1 |
475 | 685 | 569 | |||||||||
|
Net unrecognized tax benefit 2 |
$1,290 | $1,552 | $1,318 | |||||||||
| 1. |
Included in “Other assets.” See Note 12. |
| 2. |
If recognized, the net tax benefit would reduce the firm’s effective income tax rate. |