nalyzing Tax Expense The following is an excerpt from Walmart’s Form 10‑K for the fiscal year ended January 31, 2019. A summary of the provision for income taxes is as follows ($ millions): Current: U.S. federal $2,763 U.S. state and local 493 International 1,495 Total current tax provision $4,751 Deferred: U.S. federal $(361) U.S. state and local (16) International (93) Total deferred tax expense (benefit) $(470)

nalyzing Tax Expense The following is an excerpt from Walmart’s Form 10‑K for the fiscal year ended January 31, 2019. A summary of the provision for income taxes is as follows ($ millions): Current: U.S. federal $2,763 U.S. state and local 493 International 1,495 Total current tax provision $4,751 Deferred: U.S. federal $(361) U.S. state and local (16) International (93) Total deferred tax expense (benefit) $(470)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 11P

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Current:
U.S. federal	$2,763
U.S. state and local	493
International	1,495
Total current tax provision	$4,751
Deferred:
U.S. federal	$(361)
U.S. state and local	(16)
International	(93)
Total deferred tax expense (benefit)	$(470)

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