Income Tax Accounting Policy
The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year plus the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax basis of E.I. DuPont de Nemours & Co.'s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Provision has been made for income taxes on unremitted earnings of subsidiaries and affiliates, except for subsidiaries in which earnings are deemed to be indefinitely invested. Investment tax credits or grants are accounted for in the period earned (the flow-through method). Interest accrued related to unrecognized tax benefits is included in miscellaneous income and expenses, net, under other income, net. Income tax related penalties are included in the provision for income taxes.
Source: E.I. DuPont de Nemours & Co., Annual Report
Income Tax Expense (Benefit)
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E.I. DuPont de Nemours & Co., income tax expense (benefit), continuing operations
Source: Based on data from E.I. DuPont de Nemours & Co. Annual Reports
| Item |
Description |
The company |
| Current tax expense (benefit) |
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable income (loss) from continuing operations. |
E.I. DuPont de Nemours & Co.'s current tax expense (benefit) increased from 2009 to 2010 and from 2010 to 2011.
|
| Deferred tax expense (benefit) |
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. |
E.I. DuPont de Nemours & Co.'s deferred tax expense (benefit) increased from 2009 to 2010 but then declined significantly from 2010 to 2011.
|
| Provision for income taxes |
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to pretax income (loss) from continuing operations; income tax expense (benefit) may include interest and penalties on tax uncertainties based on the entity's accounting policy. |
E.I. DuPont de Nemours & Co.'s provision for income taxes increased from 2009 to 2010 and from 2010 to 2011.
|
Effective Income Tax Rate (EITR)
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E.I. DuPont de Nemours & Co., effective income tax rate (EITR) reconciliation
Source: Based on data from E.I. DuPont de Nemours & Co. Annual Reports
| Item |
Description |
The company |
| Effective income tax rate (EITR) |
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. |
E.I. DuPont de Nemours & Co.'s effective income tax rate (EITR) declined from 2009 to 2010 but then slightly increased from 2010 to 2011.
|
Deferred Tax Assets (Liabilities), Net
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E.I. DuPont de Nemours & Co., deferred tax assets (liabilities), net
Source: Based on data from E.I. DuPont de Nemours & Co. Annual Reports
| Item |
Description |
The company |
| Deferred tax assets, gross |
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws (before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. |
E.I. DuPont de Nemours & Co.'s deferred tax assets, gross declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level.
|
| Deferred tax assets |
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. |
E.I. DuPont de Nemours & Co.'s deferred tax assets declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level.
|
| Net deferred tax assets (liabilities) |
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. |
E.I. DuPont de Nemours & Co.'s net deferred tax assets (liabilities) declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level.
|
