3M Company and Subsidiaries NOTE 10. Income Taxes Income before Income Taxes fillions) nited States iternational Total Provision for Income Taxes 2019 2018 2017 3,008 $ 3,487 $ 4.149 2,704 3,513 3.399 5,712 $7,000 $ 7,548 (Millions) 2019 2018 2017 Currently payable Federal 534 S 698 $ 1,022 State 59 109 59 International 673 763 722 Tax Cuts and Jobs Act (TCJA) non-current transition tax provision 176 623 Deferred Federal (32) (38) 162 State (26) (17) 15 International (78) (54) 76 Total 1,130 S 1,637 2,679 Components of Deferred Tax Assets and Liabilities (Millions) Deferred tax assets: Employee benefit costs Accruals not currently deductible Product and other claims Miscellaneous accruals Pension costs Stock-based compensation 2019 2018 169 $ 187 280 228 119 113 824 643 218 203 Net operating/capital loss/tax credit carryforwards 150 71 Foreign tax credits 66 - Inventory 70 54 Other 113 24 Gross deferred tax assets 2,009 1,523 Valuation allowance (158) (67) Total deferred tax assets 1,851 1,456 Deferred tax liabilities: Product and other insurance receivables $ $ (7) Accelerated depreciation (580) (521) Intangible amortization (1,021) (799) Currency translation (30) (35) Other Total deferred tax liabilities (8) (1,631) $ (1,370) Net deferred tax assets 220 86 The net deferred tax assets are included as components of Other Assets and Other Liabilities within the Consolidated Balance Sheet. See Note 7 "Supplemental Balance Sheet Information" for further details.