Performance Profiles Table Browser: Composition of Income Taxes for FRS Companies


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Release Date: December 2007 Next Release Date: December 2008

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Composition of Income Taxes for FRS Companies
(Million 2007 Dollars)

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Income Taxes (as per Financial Statements)

Current Paid or Accrued:

U.S. Federal, before Investment Tax Credit &
Alternative Minimum Tax

749

1,683

14,024

10,311

449

8,463

17,674

26,296

25,888

24,692

U.S. Federal Investment Tax Credit

-106

-110

-155

-288

-282

-266

-220

-342

-130

-50

Effect of Alternative Minimum Tax

-20

545

-1,464

-739

-372

-502

-323

-150

U.S. State & Local Income Taxes

550

454

1,603

1,248

550

1,232

2,246

3,676

3,196

3,010

Foreign Income Taxes

Canada

566

731

2,115

1,333

1,421

1,764

2,606

3,634

3,194

3,045

Europe¹

2,176

3,747

8,354

7,455

6,412

7,544

12,119

16,248

19,709

16,277

Former Soviet Union²

168

178

139

499

1,068

1,793

Africa

558

1,967

4,334

3,577

3,317

4,336

6,662

10,254

16,859

16,901

Middle East

925

1,574

2,852

2,266

2,016

2,382

2,927

4,136

6,236

8,753

Other Eastern Hemisphere

1,232

2,056

2,653

1,961

1,925

3,111

3,302

3,697

5,541

5,725

Other Western Hemisphere

532

424

1,078

813

769

1,269

2,048

3,159

2,265

2,126

Total Foreign

6,046

10,559

21,421

17,574

15,910

20,585

29,804

41,627

54,873

54,620

Total Current

7,220

13,131

35,430

28,105

16,706

29,643

49,002

70,934

83,676

82,359

Deferred

U.S. Federal, before Investment Tax Credit

-463

1,812

3,796

2,812

277

5,371

2,432

1,622

6,763

2,526

U.S. Federal Investment Tax Credit

-35

-17

-93

-12

-21

-19

-18

-14

Effect of Alternative Minimum Tax

-20

-508

1,477

761

-79

377

487

321

166

-45

U.S. State & Local Income Taxes

129

166

265

349

102

106

940

Foreign

-982

-1,316

1,090

663

-220

641

927

2,395

1,163

-411

Total Deferred

-1,371

137

6,535

4,254

6,719

3,930

4,425

9,018

2,142

Total Income Tax Expense

5,848

13,269

41,964

32,360

16,751

36,362

52,931

75,359

92,695

84,501

Reconciliation of Accrued U.S. Federal
Income Tax Expense To Statutory Rate

Consolidated Pretax Income/(Loss)

19,893

41,425

103,883

79,854

41,597

100,805

141,169

199,207

225,310

207,444

Less: Foreign Source Income not Subject to U.S. Tax

312

2,644

16,001

10,435

10,138

20,064

31,344

40,747

30,280

27,173

Equals: Income Subject to U.S. Tax

19,581

38,781

87,881

69,419

31,458

80,741

109,825

158,460

195,030

180,271

Less: U.S. State & Local Income Taxes

708

595

1,794

1,047

397

1,075

2,290

3,799

4,087

2,888

Less: Applicable Foreign Income Taxes Deducted

131

423

290

355

361

607

1,662

1,182

Equals: Pretax Income Subject to U.S. Tax

18,833

38,055

85,665

68,276

30,772

79,311

107,174

154,054

189,281

176,201

Tax Provision Based on Previous Line

6,622

13,347

29,992

23,914

10,767

27,765

37,154

53,897

66,216

61,657

Increase/(Decrease) in Taxes Due To:

Foreign Tax Credits Recognized

-4,425

-7,300

-11,726

-9,961

-8,375

-12,820

-16,031

-24,018

-31,846

-33,350

U.S. Federal Investment Tax Credit Recognized

-154

-120

-155

-569

-282

-289

-262

-443

-345

-132

Statutory Depletion

-37

-10

-4

-1

-3

-7

-11

-10

-36

Effect of Alternative Minimum Tax

-20

-14

Other

-1,844

-2,532

-536

-681

-1,681

-1,084

-983

-1,860

-1,499

-953

Actual U.S. Federal Tax Provision (Refund)

142

3,413

17,585

12,721

426

13,564

19,857

27,564

32,520

27,211