Answer:
Boeing
The amount of the income tax expense reported by Boeing each year:
Years ended December 31 ($ millions)
2018 2017 2016
Total current tax expense $2,139 $1,448 $1,341
Total deferred tax expense $(995) $201 $(592)
Income tax expense reported $3,134 $1,247 $1,933
Explanation:
a) Data and Calculations:
Income before tax
Years ended December 31
($ millions) 2018 2017 2016
U.S. $11,166 $9,660 $5,386
Non-U.S. 438 447 397
Total $11,604 $10,107 $5,783
Income tax expense/(benefit) consisted of the following:
Years ended December 31
($ millions) 2018 2017 2016
Current tax expense
U.S. federal $1,873 $1,276 $1,193
Non-U.S. $169 $149 $133
U.S. State 97 23 15
Total current $2,139 $1,448 $1,341
Deferred tax expense
U.S. federal $(996) $204 $(544)
Non-U.S. $(4) $3 $(4)
U.S. State 5 (6) (44)
Total deferred $(995) $201 $(592)
b) The income tax expense reported by Boeing is the amount calculated by Boeing based on standard business accounting rules. It is quite different from the current tax expense, which represents the amount determined using tax laws. The income tax expense reported will be generally less than the current tax expense unless there is a current tax benefit.
