Interpreting the Income Tax Expense Footnote The income tax footnote to the fina

Q: Interpreting the Income Tax Expense Footnote The income tax footnote to the fina

a. b. 2016 Income tax expense $920 million 2015 Income tax expense $577 million 2014 Income tax expense $1334 million

ID: 2564426 • Letter: I

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Interpreting the Income Tax Expense Footnote The income tax footnote to the financial statements of FedEx Corporation follows The components of the provision for income taxes for the years ended May 31 were as follows: $ millions 2016 2015 2014 Current provision (benefit) Domestic $513 $795 $624 56 200 214 194 874 Federal State and loca 72 102 Foreign 785 1,111 Deferred provisions (benefit) Domestic 55 (474) 360 State and local (18) 47) 82 18 Federal (2) (13) 35 (534) 460 920 $577 $1,334 Foreign (a)What is the amount of income tax expense reported in FedEx's 2016, 2015, and 2014 income statements? 2016 Income Tax Expense = $ 2015 Income Tax Expense = $ 2014 Income Tax Expense = $ million million million (b) What percentage of total tax expense is currently payable in each year? Round your answers to the nearest percent. 2016 2015 2014

Explanation / Answer

2016 Income tax expense $920 million 2015 Income tax expense $577 million 2014 Income tax expense $1334 million

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Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) repo

Interpreting the Income Tax Expense Footnote The income tax footnote to the fina

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Interpreting the Income Tax Expense Footnote The income tax footnote to the fina

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