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A.O. Smith Corp  (NYSE:AOS) Tax Expense: \$137 Mil (TTM As of Jun. 2017)

A.O. Smith Corp's tax expense for the months ended in Jun. 2017 was \$36 Mil. Its tax expense for the trailing twelve months (TTM) ended in Jun. 2017 was \$137 Mil.

Historical Data

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

A.O. Smith Corp Annual Data

 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Tax Expense 71.20 66.70 78.90 119.60 136.00

A.O. Smith Corp Quarterly Data

 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Tax Expense 37.00 35.20 33.70 32.70 35.60

Calculation

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.

Tax Expense for the trailing twelve months (TTM) ended in Jun. 2017 was 35.2 (Sep. 2016 ) + 33.7 (Dec. 2016 ) + 32.7 (Mar. 2017 ) + 35.6 (Jun. 2017 ) = \$137 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.

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