Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Company U.S. Income Federal Tax Effective Tax Rate Industry Activision Blizzard $447 $-228 -51% Computers, office equip, software, data AECOM Technology $238 $-122 -51% Engineering
Company | U.S. Income | Federal Tax | Effective Tax Rate | Industry |
---|---|---|---|---|
Activision Blizzard | $447 | $-228 | -51% | Computers, office equip, software, data |
AECOM Technology | $238 | $-122 | -51% | Engineering & construction |
Alaska Air Group | $576 | $-5 | -1% | Transportation |
Amazon.com | $10,835 | $-129 | -1% | Retail & wholesale trade |
Ameren | $1,035 | $-10 | -1% | Utilities, gas and electric |
American Electric Power | $1,943 | $-32 | -2% | Utilities, gas and electric |
Aramark | $315 | $-48 | -15% | Miscellaneous services |
Arrow Electronics | $167 | $-12 | -7% | Retail & wholesale trade |
Arthur Gallagher | $322 | Financial | ||
Atmos Energy | $600 | $-10 | -2% | Utilities, gas and electric |
Avis Budget Group | $78 | $-7 | -9% | Motor vehicles and parts |
Celanese | $480 | $-142 | -30% | Chemicals |
Chevron | $4,547 | $-181 | -4% | Oil, gas & pipelines |
Cliffs Natural Resources | $565 | $-1 | 0% | Oil, gas & pipelines |
CMS Energy | $774 | $-67 | -9% | Utilities, gas and electric |
Deere | $2,152 | $-268 | -12% | Industrial machinery |
Delta Air Lines | $5,073 | $-187 | -4% | Transportation |
Devon Energy | $1,297 | $-14 | -1% | Oil, gas & pipelines |
Dominion Resources | $3,021 | $-45 | -1% | Utilities, gas and electric |
DTE Energy | $1,215 | $-17 | -1% | Utilities, gas and electric |
Duke Energy | $3,029 | $-647 | -21% | Utilities, gas and electric |
Eli Lilly | $598 | $-54 | -9% | Pharmaceuticals & medical products |
EOG Resources | $4,067 | $-304 | -7% | Oil, gas & pipelines |
FirstEnergy | $1,495 | $-16 | -1% | Utilities, gas and electric |
Gannett | $7 | $-11 | -164% | Publishing, printing |
General Motors | $4,320 | $-104 | -2% | Motor vehicles and parts |
Goodyear Tire & Rubber | $440 | $-15 | -3% | Motor vehicles and parts |
Halliburton | $1,082 | $-19 | -2% | Oil, gas & pipelines |
Honeywell International | $2,830 | $-21 | -1% | Industrial machinery |
International Business Machines | $500 | $-342 | -68% | Computers, office equip, software, data |
JetBlue Airways | $219 | $-60 | -27% | Transportation |
Kinder Morgan | $1,784 | $-22 | -1% | Oil, gas & pipelines |
MDU Resources | $314 | $-16 | -5% | Oil, gas & pipelines |
MGM Resorts International | $648 | $-12 | -2% | Miscellaneous services |
Molson Coors | $1,325 | $-23 | -2% | Food & beverages & tobacco |
Netflix | $856 | $-22 | -3% | Retail & wholesale trade |
Occidental Petroleum | $3,379 | $-23 | -1% | Oil, gas & pipelines |
Owens Corning | $405 | $-10 | -2% | Miscellaneous manufacturing |
Penske Automotive Group | $393 | $-16 | -4% | Motor vehicles and parts |
Performance Food Group | $192 | $-9 | -4% | Retail & wholesale trade |
Pioneer Natural Resources | $1,249 | Oil, gas & pipelines | ||
Pitney Bowes | $125 | $-50 | -40% | Computers, office equip, software, data |
PPL | $1,110 | $-19 | -2% | Utilities, gas and electric |
Principal Financial | $1,641 | $-49 | -3% | Financial |
Prudential Financial | $1,440 | $-346 | -24% | Financial |
Public Service Enterprise Group | $1,772 | $-97 | -5% | Utilities, gas and electric |
PulteGroup | $1,340 | $-44 | -3% | Miscellaneous manufacturing |
Realogy | $199 | $-13 | -7% | Miscellaneous services |
Rockwell Collins | $719 | $-16 | -2% | Aerospace & defense |
Ryder System | $350 | $-23 | -7% | Transportation |
Salesforce.com | $800 | Computers, office equip, software, data | ||
SpartanNash | $40 | $-2 | -4% | Retail & wholesale trade |
SPX | $66 | $-5 | -8% | Industrial machinery |
Tech Data | $203 | $-10 | -5% | Retail & wholesale trade |
Trinity Industries | $138 | $-19 | -14% | Miscellaneous manufacturing |
UGI | $550 | $-3 | 0% | Utilities, gas and electric |
United States Steel | $432 | $-40 | -9% | Metals & metal products |
Whirlpool | $717 | $-70 | -10% | Electronics, electrical equipment |
Wisconsin Energy | $1,139 | $-218 | -19% | Utilities, gas and electric |
Xcel Energy | $1,434 | $-34 | -2% | Utilities, gas and electric |
TOTAL, These Companies | $79,025 | $-4 | -5% |
a) Find these numbers (in millions of dollars -add 6 zerosto each numberexcept tax rate) for Amazon.com:
U.S. income = $79,025,000,000
Federal tax = $-4
Effective tax rate = -5%
b) Jeff Bezos has a net worth of over $160 billion. What do you think about his company Amazon got a tax credit (negative tax rate means Amazon received money from the U.S. government)?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started