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D.R. Horton Inc  (NYSE:DHI) Tax Expense: \$564 Mil (TTM As of Sep. 2017)

D.R. Horton Inc's tax expense for the months ended in Sep. 2017 was \$172 Mil. Its tax expense for the trailing twelve months (TTM) ended in Sep. 2017 was \$564 Mil.

Historical Data

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

D.R. Horton Inc Annual Data

 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Tax Expense 195.10 280.70 372.70 467.20 563.70

D.R. Horton Inc Quarterly Data

 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Tax Expense 149.40 111.20 124.70 155.50 172.30

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 Sep. 2017 was 111.2 (Dec. 2016 ) + 124.7 (Mar. 2017 ) + 155.5 (Jun. 2017 ) + 172.3 (Sep. 2017 ) = \$564 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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