In: Accounting
The
2016 Form 10-K of Dow Chemical disclosed the following: Deferred
tax assets increased by $939 million and Deferred tax liabilities
increased by $336 million. Dow Chemical also reports income tax
expense for 2016 of $9 million. Determine the amount Dow Chemical paid in cash for income taxes for 2016. |
Answer: $611.00 million | ||
Calculation: | ||
Cash paid for income taxes in 2016 = 9+938-336 = | $ 611.00 | million |