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Analyzing and Interpreting Income Tax Disclosures The income tax footnote to the 2018 financial statements for Boeing follows. The components of income before tax were:

Analyzing and Interpreting Income Tax Disclosures

The income tax footnote to the 2018 financial statements for Boeing follows.

The components of income before tax were:

Years ended December 31 ($ millions) 2018 2017 2016
U.S. $12,283 $10,626 $5,925
Non-U.S. 482 492 437
Total $12,765 $11,118 $6,362

Income tax expense/(benefit) consisted of the following:

Years ended December 31 ($ millions) 2018 2017 2016
Current tax expense
U.S. federal $1,967 $1,340 $1,253
Non-U.S. $169 $149 $133
U.S. State 97 23 15
Total current $2,233 $1,512 $1,401
Deferred tax expense
U.S. federal $(1,096) $224 $(598)
Non-U.S. $(4) $3 $(4)
U.S. State 5 (6) (44)
Total deferred $(1,095) $221 $(646)

a. What is the amount of income tax expense reported by Boeing each year?

Year ($ millions)
2018 Answer
2017 Answer
2016 Answer

b. What percentage of total tax expense is currently payable for each year? Round percentage to one decimal place (example: 0.7345 = 73.5%).

Year
2018 Answer
2017 Answer
2016 Answer

c. What is Boeings effective (average) tax rate for each year? Round percentage to one decimal place (example: 0.7345 = 73.5%).

Year
2018 Answer
2017 Answer
2016 Answer

d. Use the pretax information to determine the effective tax rate for U.S. federal and Non-U.S. operations for each year. Round percentage to one decimal place (example: 0.7345 = 73.5%).

Year U.S. federal Non-U.S.
2018 Answer Answer
2017 Answer Answer
2016 Answer Answer

e. Determine the cash tax rate for U.S. operations for each year. Hint: Current tax expense is paid in cash. Round percentage to one decimal place (example: 0.7345 = 73.5%).

Year
2018 Answer
2017 Answer
2016 Answer

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