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Compute NOPAT Using Tax Rates from Tax Footnote The income statement for The TJX Companies, Inc., follows. THE TJX COMPANIES, INC. Consolidated Statements of Income
Compute NOPAT Using Tax Rates from Tax Footnote The income statement for The TJX Companies, Inc., follows.
THE TJX COMPANIES, INC. Consolidated Statements of Income | |
---|---|
Fiscal Year Ended ($ thousands) | February 2, 2013 |
Net sales | $25,878,372 |
Cost of sales, including buying and occupancy costs | 18,521,400 |
Selling, general and administrative expenses | 4,250,446 |
Provision (credit) for computer intrusion related costs | - |
Interest expense (revenue), net | 29,175 |
Income from continuing operations before provision for income taxes | 3,077,351 |
Provision for income taxes | 1,170,664 |
Net income | $ 1,906,687 |
U.S. federal statutory income tax rate | 35.0% |
Effective state income tax rate | 4.2% |
Impact of foreign operation | -0.9% |
All other | -0.3% |
Worldwide effective income tax rate | 38.0% |
Compute TJX's NOPAT for 2013 using its income tax footnote disclosure. (The Federal and State tax rate for 2013 as reported by TJX's tax footnote is: 39.2%). Round to the nearest whole number. 2013 NOPAT = ?
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