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Carnival Tax Expense

: $62 Mil (TTM As of May. 2020)
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Carnival's tax expense for the months ended in May. 2020 was $-11 Mil. Its tax expense for the trailing twelve months (TTM) ended in May. 2020 was $62 Mil.


Carnival Tax Expense Historical Data

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

* Premium members only.

Carnival Annual Data
Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19
Tax Expense Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 42.00 49.00 60.00 54.00 71.00

Carnival Quarterly Data
Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20
Tax Expense Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 47.00 15.00 11.00 -11.00

Carnival Tax Expense 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 May. 2020 was 47 (Aug. 2019 ) + 15 (Nov. 2019 ) + 11 (Feb. 2020 ) + -11 (May. 2020 ) = $62 Mil.

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


Carnival  (NYSE:CCL) Tax Expense 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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