- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | KLA Corp. current increased from 2021 to 2022 and from 2022 to 2023. |
Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | KLA Corp. deferred decreased from 2021 to 2022 and from 2022 to 2023. |
Provision for income taxes | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | KLA Corp. provision for income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Effective Income Tax Rate (EITR)
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
Item | Description | The company |
---|---|---|
Effective income tax rate, before Tax Cuts and Jobs Act of 2017 | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | KLA Corp. effective income tax rate, before Tax Cuts and Jobs Act of 2017 decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
Item | Description | The company |
---|---|---|
Gross deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | KLA Corp. gross deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
Net deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | KLA Corp. net deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | KLA Corp. net deferred tax assets (liabilities) increased from 2021 to 2022 and from 2022 to 2023. |
Deferred Tax Assets and Liabilities, Classification
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | KLA Corp. deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
Deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | KLA Corp. deferred tax liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
KLA Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | KLA Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | KLA Corp. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
KLA Corp. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | KLA Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | KLA Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
KLA Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
2023 Calculations
1 Net profit margin = 100 × Net income attributable to KLA ÷ Revenues
= 100 × 3,387,277 ÷ 10,496,056 = 32.27%
2 Adjusted net profit margin = 100 × Adjusted net income attributable to KLA ÷ Revenues
= 100 × 3,032,124 ÷ 10,496,056 = 28.89%
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | KLA Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
2023 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= 10,496,056 ÷ 14,072,357 = 0.75
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 10,496,056 ÷ 13,255,458 = 0.79
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | KLA Corp. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
2023 Calculations
1 Financial leverage = Total assets ÷ Total KLA stockholders’ equity
= 14,072,357 ÷ 2,919,753 = 4.82
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total KLA stockholders’ equity
= 13,255,458 ÷ 2,632,099 = 5.04
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
KLA Corp. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
2023 Calculations
1 ROE = 100 × Net income attributable to KLA ÷ Total KLA stockholders’ equity
= 100 × 3,387,277 ÷ 2,919,753 = 116.01%
2 Adjusted ROE = 100 × Adjusted net income attributable to KLA ÷ Adjusted total KLA stockholders’ equity
= 100 × 3,032,124 ÷ 2,632,099 = 115.20%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | KLA Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
2023 Calculations
1 ROA = 100 × Net income attributable to KLA ÷ Total assets
= 100 × 3,387,277 ÷ 14,072,357 = 24.07%
2 Adjusted ROA = 100 × Adjusted net income attributable to KLA ÷ Adjusted total assets
= 100 × 3,032,124 ÷ 13,255,458 = 22.87%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | KLA Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |