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GuruFocus has detected 7 Warning Signs with The Scotts Miracle Gro Co \$SMG.
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The Scotts Miracle Gro Co (NYSE:SMG)
Tax Expense
\$148 Mil (TTM As of Dec. 2016)

The Scotts Miracle Gro Co's tax expense for the three months ended in Dec. 2016 was \$-35 Mil. Its tax expense for the trailing twelve months (TTM) ended in Dec. 2016 was \$148 Mil.

Definition

Tax paid by the company. It is computed in by multiplying the income before tax number, as reported to shareholders, by the appropriate tax rate. In reality, the computation is typically considerably more complex due to things such as expenses considered not deductible by taxing authorities ("add backs"), the range of tax rates applicable to various levels of income, different tax rates in different jurisdictions, multiple layers of tax on income, and other issues.

The Scotts Miracle Gro Co Tax Expense for the trailing twelve months (TTM) ended in Dec. 2016 was 124.3 (Mar. 2016 ) + 69.5 (Jun. 2016 ) + -10.9 (Sep. 2016 ) + -35.4 (Dec. 2016 ) = \$148 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Explanation

In the long run, income before tax and taxable income will likely be more similar than they are in any given period. If the one is less in earlier years, then it will be greater in later years. Deferred taxes will reverse themselves in the long run and in total will zero out, unless there is something like a change in tax rates in the intervening period. A deferred tax payable results from a tax break in the early years and will reverse itself in later years; a deferred tax receivable results from more taxes being paid in early years than the tax expense reported to shareholders and will again reverse itself in later years. The deferred tax amount is computed by estimating the amount and the timing of the reversal and multiplying that by the appropriate tax rates.

Related Terms

Net Income

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

The Scotts Miracle Gro Co Annual Data

 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 tax 75 27 87 119 83 68 92 80 74 139

The Scotts Miracle Gro Co Quarterly Data

 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 tax -18 -42 78 62 -23 -44 124 70 -11 -35
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