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Performance Profiles of Major Energy Producers 2009

Release Date: February 25, 2011   |  Next Release Date: December 2011   |   Report Number: DOE/EIA-0206(2009)

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T-12. Income Taxes

(Million 2009 Dollars)

  2003 2004 2005 2006 2007 2008 2009
Income Taxes (as per Financial Statements)
Current Paid or Accrued:
U.S. Federal, before Investment Tax Credit &
Alternative Minimum Tax
8,755 18,290 27,193 26,762 25,483 20,489 -2,842
U.S. Federal Investment Tax Credit
-275 -228 -354 -135 -52 -200 W
Effect of Alternative Minimum Tax
-384 -520 -334 -155 90 34 1,174
U.S. State & Local Income Taxes
1,274 2,324 3,801 3,304 3,106 3,088 W
Foreign Income Taxes
Canada
1,825 2,697 3,758 3,301 3,143 3,767 1,742
Europe1
7,805 12,541 16,802 20,375 16,798 22,672 10,543
Former Soviet Union2
184 144 516 1,104 1,850 2,441 990
Africa
4,486 6,894 10,604 17,428 17,442 21,965 11,328
Middle East
2,464 3,029 4,277 6,447 9,033 11,877 6,485
Other Eastern Hemisphere
3,219 3,417 3,823 5,728 5,908 7,416 4,284
Other Western Hemisphere
1,313 2,119 3,267 2,342 2,194 2,915 1,477
Total Foreign
21,295 30,842 43,047 56,725 56,369 73,054 36,849
Total Current
30,665 50,708 73,353 86,500 84,996 96,465 35,751
Deferred
U.S. Federal, before Investment Tax Credit
5,556 2,517 1,677 6,991 2,607 3,011 -3,758
U.S. Federal Investment Tax Credit
-20 -19 -19 -15 1 0 0
Effect of Alternative Minimum Tax
390 504 332 172 -46 -33 -1,174
U.S. State & Local Income Taxes
361 105 110 971 73 82 -230
Foreign
663 959 2,476 1,203 -424 -168 -872
Total Deferred
6,951 4,066 4,576 9,323 2,211 2,892 -6,034
Total Income Tax Expense
37,616 54,775 77,929 95,823 87,207 99,358 29,717
Reconciliation of Accrued U.S. Federal
Income Tax Expense To Statutory Rate
Consolidated Pretax Income/(Loss)
104,282 146,086 206,001 232,915 214,087 185,944 60,692
Less: Foreign Source Income not Subject to U.S. Tax
20,756 32,435 42,137 31,302 28,043 27,144 11,994
Equals: Income Subject to U.S. Tax
83,526 113,650 163,864 201,612 186,044 158,800 48,698
Less: U.S. State & Local Income Taxes
1,112 2,370 3,929 4,225 2,980 3,024 612
Less: Applicable Foreign Income Taxes Deducted
367 374 628 1,718 1,220 1,503 1,285
Equals: Pretax Income Subject to U.S. Tax
82,047 110,907 159,307 195,670 181,844 154,273 46,801
Tax Provision Based on Previous Line
28,722 38,448 55,735 68,451 63,631 56,750 16,866
Increase/(Decrease) in Taxes Due To:
Foreign Tax Credits Recognized
-13,262 -16,590 -24,838 -32,921 -34,418 -43,466 -23,066
U.S. Federal Investment Tax Credit Recognized
-299 -271 -458 -357 -136 W W
Statutory Depletion
-7 -7 -11 -11 -37 -18 -38
Effect of Alternative Minimum Tax
0 -15 0 5 26 W W
Other
-1,122 -1,017 -1,924 -1,550 -984 10,254 -174
Actual U.S. Federal Tax Provision (Refund)
14,032 20,549 28,504 33,618 28,082 23,322 -6,617
1 Prior to 2006, this region comprised of European member countries of the OECD.
2 Prior to 2006, this region comprised of the Former Soviet Union and East Europe.
W = Data withheld to avoid disclosure.
Source: Energy Information Administration, Form EIA-28 (Financial Reporting System).