Income Tax Expense/(Benefit) means, for calendar year 2015, tax expense or benefit of the Company reduced or increased (i) to the tax expense or benefit of (a) the pre-tax adjustments made in the computation of Consolidated Operating Income, Other Expense, Other Income and Interest Expense and (b) the application of a Performance Factor Adjustment and (ii) to exclude the impact of (a) changes in tax rates that require an adjustment to deferred taxes; (b) findings in tax audits by tax authorities relating to prior calendar years for matters for which no reserve has been previously established; (c) adjustments to FIN 48 reserves to account for changes in facts and circumstances; (d) the accrual of income and withholding taxes related to the repatriation of previously undistributed foreign earnings and (e) the creation of release of a valuation allowance.
Examples of Income Tax Expense/(Benefit) in a sentence
Income Tax (Expense)/Benefit Income tax benefit was Y=2,067 million for the six months ended June 30, 2005, as compared to income tax expense of Y=5,386 million for the six months ended June 30, 2006.
Income Tax (Expense)/Benefit Income tax (expense)/benefit decreased by Y=4,930 million, from Y=1,858 million tax expense for the twelve months ended December 31, 2004 to a Y=3,071 million tax benefit for the twelve months ended December 31, 2005.
Income Tax (Expense)/Benefit Income tax benefit was Y=3,071 million for the year ended December 31, 2005 compared to income tax expense of Y=3,022 million for the year ended December 31, 2006.