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Using Under Armour's 2021 10-K form , examine the income tax expense and deferred tax assets and liabilities. Analyze the footnotes and assess the company's
Using Under Armour's 2021 10-K form, examine the income tax expense and deferred tax assets and liabilities.
- Analyze the footnotes and assess the company's effective tax rate. State the tax rate, and is it a consistent rate? If not, do the fluctuations seem reasonable?
- What was the effect of the 2017 TCJA on the provision for income taxes and how did the new law change the company's effective tax rate?
- Do the deferred tax assets and liabilities seem appropriate given the company's industry?
- Is there a valuation allowance, and if so, how big is it relative to total deferred tax assets? Has the valuation allowance changed markedly during the year?
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