All reconciling are presented in dollars of income, calculated as the effect on the effective tax rate multiplied by income before taxes and divided by the statutory tax rate. The categories are: provision to tax return adjustments, adjustment ADJRET: of deferred taxes due to changes in rates or laws, change in the valuation allowance. amortization and impairments AMORT-GW: of goodwill; effect of non-deductible goodwill; negative goodwill amortization; purchase accounting adjustments. AMORT-OTH: amortization of intangible assets; nondeductible amortization; includes acquired purchased in-process research and development. audit resolutions and settlements; adjustments of tax reserves or prior year adjustments; FIN 48 and other tax AUDIT: contingencies. company-owned life insurance. all credits including state, foreign, investment, and COLI: CREDITS-r: alternative minimum tax; credit carryforwards; expiration of credits. non-taxable dividends, including dividends-received DIVS: deduction. domestic production activities deduction. benefits of FSC and ETI. effects of foreign rates DMD: ETI: FOR-r: higher or lower than U.S. statutory rate; currency translation adjustments; foreign tax holidays; foreign withholding tax. M&A-r: merger costs, Gains/losses on the sale or disposal of subsidiaries, restructuring charges. minority interest. MININT: OTHER-r: line items too vague to categorize (e.g., expenses”); includes items which are partially but not fully categorizable “nondeductible (e.g., nondeductible goodwill and other). items unique to regulated entities. effects of repatriating foreign REG-r: REPAT: income. effects of U.S. state income tax rates. equity earnings in affiliates; gain on subsidiary IPO; STATERATE: SUB-r: consolidation differences; write-downs of equity investments, permanent items flowed-through from subsidiaries. TEI: interest and dividends. all line items not included in another category. They are material enough to warrant UNUSUAL-r: separate disclosure for that firm but occur too infrequently in the sample to warrant a separate category.
All reconciling are presented in dollars of income, calculated as the effect on the effective tax rate multiplied by income before taxes and divided by the statutory tax rate. The categories are: ADJRET: provision to tax return adjustments, adjustment of deferred taxes due to changes in rates or laws, change in the valuation allowance. AMORT-GW: amortization and impairments of goodwill; effect of non-deductible goodwill; negative goodwill amortization; purchase accounting adjustments. AMORT-OTH: amortization of intangible assets; nondeductible amortization; includes acquired purchased in-process research and development. AUDIT: audit resolutions and settlements; adjustments of tax reserves or prior year adjustments; FIN 48 and other tax contingencies. COLI: company-owned life insurance. CREDITS-r: all credits including state, foreign, investment, and alternative minimum tax; credit carryforwards; expiration of credits. DIVS: non-taxable dividends, including dividends-received deduction. DMD: domestic production activities deduction. ETI: benefits of FSC and ETI. FOR-r: effects of foreign rates higher or lower than U.S. statutory rate; currency translation adjustments; foreign tax holidays; foreign withholding tax. M&A-r: merger costs, Gains/losses on the sale or disposal of subsidiaries, restructuring charges. MININT: minority interest. OTHER-r: line items too vague to categorize (e.g., “nondeductible expenses”); includes items which are partially but not fully categorizable (e.g., nondeductible goodwill and other). REG-r: items unique to regulated entities. REPAT: effects of repatriating foreign income. STATERATE: effects of U.S. state income tax rates. SUB-r: equity earnings in affiliates; gain on subsidiary IPO; consolidation differences; write-downs of equity investments, permanent items flowed-through from subsidiaries. TEI: interest and dividends. UNUSUAL-r: all line items not included in another category. They are material enough to warrant separate disclosure for that firm but occur too infrequently in the sample to warrant a separate category.
RSS%2003.10.17.docx