Question
Falcon Networks Falcon Networks is a leading semiconductor company with operations in 17 different countries. Information about the company's taxes appears below: Falcon Networks Components
Falcon Networks
Falcon Networks is a leading semiconductor company with operations in 17 different countries. Information about the company's taxes appears below:
Falcon Networks | ||
Components of Income Tax Expense | ||
(in millions) | ||
2012 | 2011 | |
Current - Federal | $ 55.65 | $ 47.52 |
- Foreign | 83.85 | 78.95 |
- State and Local | 14.69 | 12.5 |
Total Current | $154.19 | $138.97 |
Deferred - Federal | $ 30.28 | $ 42.90 |
- Foreign | 23.89 | 14.58 |
Total Deferred | $ 54.17 | $ 57.48 |
Total Income Tax Expense | $208.36 | $196.45 |
Note: Falcon Networks has no current liability at year-end with respect to total current taxes. | ||
Components of Income before Taxes | 2012 | 2011 |
United States | $256.35 | $253.68 |
Foreign | 236.85 | 198.85 |
Total | $493.20 | $452.53 |
1.Based on the information provided by Falcon Networks how much cash did income taxes use during 2012?
Group of answer choices
$154.19 million
$54.17 million
$208.36 million
$284.84 million
2.Using the information provided by Falcon Networks, determine the federal effective tax rate for 2012.
Group of answer choices
33.52%
35.00%
42.25%
45.49%
3.
Using the information provided by Falcon Networks, determine the foreign effective tax rate for 2012.
Group of answer choices
33.52%
35.00%
42.25%
45.49%
4.
Using the information provided by Falcon Networks determine the combined effective tax rate for 2012.
Group of answer choices
33.52%
35.00%
42.25%
45.49%
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