Also below is the estimated 4Q journal entry using the December 31, 2016 amounts and also assuming that 80% of the Deferred Income Tax Asset Re Their Pension/Other Postretirement Benefits Total is related to Other Comprehensive Income. This computation also assumes that the Trump Tax Bill does not include a one year delay, which makes little sense and dramatically increases the time necessary for US Companies to make this very involved computation, which must be audited by their external CPA firms.
| Deferred | Deferred | ||
| Net | Income | Income | |
| Deferred | Tax | Tax | |
| Income | Assets | Liability | |
| Tax | Related To | Related To | |
| Assets | Pensions & | Unrealized | |
| (Liabilities) | Other Post | Appreciation | |
| Mostly | Retirement | of | |
| Largest 64 US Government Contractors | 12-31-16 | Benefits | Investments |
| bils $s | bils $s | bils $s | |
| Cos. With Average of US Sales&Property Mix > 50% | |||
| Berkshire Hathaway | (76.959) | (27.669) | |
| AT&T | (58.717) | - | |
| Verizon Communications | (45.964) | - | |
| Tetra Tech | (42.018) | ||
| Valero Energy | (7.361) | 0.344 | |
| Dell Technologies | (4.912) | ||
| Merck | (4.531) | 0.727 | |
| McKesson | (3.650) | 0.593 | |
| Express Scripps | (3.572) | ||
| UnitedHealth Group | (2.761) | ||
| Amerisourcebergen | (2.493) | ||
| Cardinal Health | (1.876) | - | |
| FedEx Corp | (1.810) | - | |
| Boeing | (1.006) | 10.878 | |
| Leidos Holding | (0.524) | ||
| CDW Corp | (0.369) | ||
| Rockwell Collins | (0.310) | 0.400 | |
| Centene | (0.303) | ||
| CACI Intl | (0.273) | 0.037 | |
| CSRA Inc | (0.272) | 0.211 | |
| L3 Technologies | (0.234) | 0.415 | |
| Honeywell | (0.139) | 0.673 | |
| Mantech Intl | (0.122) | 0.027 | |
| SRA Intl | (0.112) | ||
| Vectrus Inc | (0.107) | ||
| Great Lakes Dredge & Dock | (0.068) | ||
| United Technologies | (0.035) | 2.382 | |
| KBR Inc | (0.030) | 0.166 | |
| Oshkosh | (0.016) | ||
| Science Applications Intl | (0.011) | ||
| A-Mark Precious Metals | 0.004 | ||
| World Fuel Services Corp | 0.005 | ||
| Patriot Transportation Holding | 0.010 | ||
| Booz Allen Hamilton | 0.011 | 0.049 | |
| CoreCivic | 0.014 | ||
| The GEO Group | 0.030 | ||
| General Dynamics | 0.037 | 1.461 | |
| Insight Enterprises | 0.051 | ||
| Unisys | 0.140 | 0.729 | |
| Computer Sciences Corp | 0.143 | 0.172 | |
| Aecom | 0.151 | 0.142 | |
| Navistar Intl | 0.161 | 1.274 | |
| BWX Technologies | 0.171 | 0.130 | |
| Jacobs Engineering | 0.191 | 0.244 | |
| Engility | 0.232 | 0.018 | |
| Orbital ATK | 0.254 | 0.271 | |
| Huntington Ingalls Industries | 0.314 | 0.568 | |
| Ch2M Hill Cos | 0.363 | 0.175 | |
| Harris Corp | 0.375 | 0.509 | |
| Humana | 0.399 | ||
| Fluor | 0.454 | 0.118 | |
| Textron | 0.669 | 0.529 | |
| Chicago Bridge & Iron | 0.723 | 0.081 | |
| Raytheon | 0.746 | 2.477 | |
| Northrop Grumman | 1.462 | 2.814 | |
| Lockheed Martin | 6.589 | 5.499 | |
| Total all 56 | (246.856) | 34.113 | (27.669) |
| Estimated DTA at 80% (in AOCI) | 27.290 | ||
| 4Q Journal Entry Roughout | |||
| Deferred Tax Liability(43% X 246.856) | 106.148 | ||
| …..OCI-Income Tax Expense (43% X (27.290 - 27.669)) | 0.163 | ||
| …..Income Tax Expense in Regular Net Income | 105.985 | ||
| ……….(43% X (246.856 + 27.290 - 27.669)) | |||
| Cos. With Average of US Sales&Property Mix < 50% | |||
| General Electric | 1.833 | 15.193 | |
| Accenture | 2.078 | 0.295 | |
| Hewlett-Packard | (0.862) | 0.592 | |
| Pfizer | (30.099) | 3.356 | |
| IBM | 4.799 | 4.671 | |
| Hewlett Packard Enterprises | 4.287 | 1.655 | |
| Exxon Mobil | (29.991) | 6.053 | |
| Chevron | (12.867) | 4.392 | |
| Total all 8 | (60.822) | 36.207 |
