There Were Only 24 US Technology Companies With Stock Market Caps Between $10 Bil and $40 Bil With Net Deferred Income Tax Liabilities (The Driver of Trump Tax Bill US Corp Debt Forgiveness) Which Totalled Only $13.2 Bil in Their Most Recent Annual Report SEC Filing: On the Other Hand, There Were a Higher 33 US Techs With Net Deferred Income Tax Assets Which Totalled $16.0 Bil (Which Drive 4Q 2017 Earnings Declines Due to the Trump Tax Bill) ...................................................................................... Also on the Other Hand, There Were 201 US Non-Technology Companies With Stock Market Caps Between $10 Bil and $40 Bil With Net Deferred Income Tax Liabilities Which Totalled $344 Bil in Their Most Recent Annual Report SEC Filing ...................................................................................... Thus in Total, There Were 309 US Companies With Market Caps Above $10 Bil Which Had Net Deferred Income Tax Liabilities (Think US Corp Debt Forgiveness and Higher 4Q 2017 Earnings) and These Totalled $1.018 Trillion, With $957 Bil or 94% Being Non-Techs and $60.8 Bil or 6% Being Techs ...................................................................................... The Trump Tax Bill is Clearly an All-Out Assault on US Technology Companies, Millennials and California

From a review of income tax and other footnotes in their most recent audited annual financial statements in their SEC filings, below here are the audited Net Deferred Income Tax (Liabilities) Assets mostly at December 31, 2016, along with other related income tax disclosures for the 60 large US Technology Companies and the 322 large US Non-Technology Companies with stock market caps between $10 Bil and $40 Bil recently.  Included in these US Companies are 4 private US Companies with Total Equity of at least $10 Bil.

			Deferred	Deferred	Deferred
		Net	Income	Income	Income
		Deferred	Tax	Tax	Tax
		Income	(Liabilities)	Assets	Assets
		Tax	Related To	Related To	Related To
		Assets	Unremitted	Pensions &	Unused
		(Liabilities)	Earnings of	Other Post	Tax
US Technology Companies	State	Mostly	Foreign	Retirement	Credits
Stock Market Caps $10-40 Bil	HQs	12-31-16	Subs	Benefits	C/Fs
		bils $s	bils $s	bils $s	bils $s
Cos With Net Deferred Income Tax Liabilities
Dell Technologies	TX	(4.912)			0.511
Symantec	CA	(2.358)	(1.939)		0.042
Analog Devices	MA	(1.642)	(0.064)		0.068
HP Inc	CA	(0.862)	(5.179)	0.592
Expedia	WA	(0.461)
CDW Corp	IL	(0.369)
Verisign	VA	(0.362)			0.059
Microchip Technology	AZ	(0.340)			0.243
Verisk Analytics	NJ	(0.307)
Xilinx	CA	(0.254)	(0.383)		0.110
Fortive	WA	(0.247)		0.049
Cerner	MO	(0.239)
IAC/Interactive Corp	NY	(0.226)			0.012
Lam Research	CA	(0.153)	(0.303)
Western Digital	CA	(0.153)	(0.038)		0.283
Qorvo	NC	(0.114)			0.093
Linear Technology	CA	(0.068)	(0.106)		0.021
Amphenol	CT	(0.048)		0.065
Take-Two Interactive Software	NY	(0.036)			0.053
Mettler Toledo	OH	(0.030)		0.035
Autodesk	CA	(0.028)			0.127
Marvell Technology Group	CA	(0.012)			0.451
Trimble	CA	(0.009)			0.015
Juniper Networks	CA	(0.001)	(0.311)		0.138
Total all 24		(13.231)	(8.323)	0.741	2.226
Square	CA	-			0.039
Snap Inc	CA	-			0.002
Advanced Micro Devices	CA	-	(0.158)		0.768
Cos With Net Deferred Income Tax Assets
Splunk	CA	0.001			0.049
Workday	CA	0.004			0.780
Palo Alto Networks	CA	0.005			0.069
Twitter	CA	0.006			0.252
ServiceNow	CA	0.011			0.051
Cognex	MA	0.028
IPG Photonics	MA	0.032			0.005
Ansys	PA	0.040			0.004
Maxim Integrated Products	CA	0.041	(0.014)		0.071
Garmin Ltd	KS	0.049			0.005
Skywork Solutions	MA	0.057			0.091
Waters Corp	MA	0.062
Align Technology	CA	0.068			0.001
Arista Networks	CA	0.070			0.015
Check Point Software	CA	0.101	(0.010)
Red Hat	NC	0.102			0.010
Atlassian Corp plc	CA	0.121
Computer Sciences	VA	0.143		0.172
Flex Ltd	CA	0.148
CA Inc	NY	0.208
Citrix Systems	FL	0.250			0.050
Cadence Design Systems	CA	0.257	(0.025)		0.181
Synopsys	CA	0.281			0.147
Electronic Arts	CA	0.285	(0.070)		0.276
KLA-Tencor	CA	0.290	(0.013)
Agilent Technologies	CA	0.321	(0.053)	0.136
Harris Corp	FL	0.375	(0.047)	0.509
NetApp	CA	0.524
Seagate Technology	CA	0.604	(0.007)
Corning Intl	NY	2.008		0.283
Motorola Solutions	IL	2.098	(0.027)	0.693
eBay	CA	3.155	(1.578)
Hewlett Packard Enterprise	CA	4.287	(3.708)	1.590
Total all 33		16.032	(5.552)	3.383	2.057
Total all 60		2.801	(13.875)	4.124	4.283
			Deferred	Deferred	Deferred
		Net	Income	Income	Income
		Deferred	Tax	Tax	Tax
		Income	(Liabilities)	Assets	Assets
		Tax	Related To	Related To	Related To
		Assets	Unremitted	Pensions &	Unused
		(Liabilities)	Earnings of	Other Post	Tax
US Non-Technology Companies	State	Mostly	Foreign	Retirement	Credits
Stock Market Caps $10-40 Bil	HQs	12-31-16	Subs	Benefits	C/Fs
		bils $s	bils $s	bils $s	bils $s
Cos With Net Deferred Income Tax Liabilities
Sprint	KS	(14.416)			0.340
American Electric Power	OH	(11.884)			0.045
PG&E Corp	CA	(10.213)			0.167
Consolidated Edison	NY	(10.034)		(0.581)	0.498
Norfolk Southern	VA	(9.140)		0.465
America Honda Finance Corp	CA	(8.792)
Public Service Enterprise Group	NJ	(8.409)		0.086
Edison Intl	CA	(8.239)		0.287	0.499
Altice USA	NY	(7.967)
Toyota Motor Credit Corp	TX	(7.926)
Entergy Corp	LA	(7.377)		0.109
Valero Energy	TX	(7.361)			0.065
Xcel Energy	MN	(6.784)			0.498
Eversource Energy	MA	(5.607)
CenterPoint Energy	TX	(5.263)
WEC Energy	WI	(5.147)
AFLAC	GA	(5.056)		(0.013)
Newell Brands	NJ	(4.988)		0.194	0.034
Hilton Worldwide Holdings	VA	(4.458)
Anadarko Petroleum	TX	(4.310)			1.834
Ameren Corp	MO	(4.264)		0.211	0.676
Williams Cos	OK	(4.238)			0.279
DTE Energy	MI	(4.162)		0.324	0.643
PPL Corp	PA	(3.862)		0.291	0.256
Marathon Petroleum Corp	TX	(3.844)
Freeport-McMoran	AZ	(3.765)	(0.779)		2.538
FirstEnergy	OH	(3.765)		1.347
McKesson	CA	(3.650)
Liberty Interactive	CO	(3.636)			0.134
QVC Group	CO	(3.636)			0.134
Express Scripts	MO	(3.572)
Sempra Energy	CA	(3.511)	0.434		0.431
CenturyLink	LA	(3.463)		2.175
WestRock	GA	(3.378)		(0.091)	0.191
Southwest Air Lines	TX	(3.374)
Tyson Foods	AR	(2.971)
Pinnacle West Capital	AZ	(2.945)		(0.073)
Zimmer Biomet	IN	(2.809)	(1.159)		0.110
International Paper	TN	(2.773)		1.509	0.270
Reinsurance Group of America	MO	(2.704)
American Water Works	NJ	(2.596)		0.173
DISH Network	CO	(2.595)
Alliant Energy	WI	(2.570)			0.268
MGM Resorts	NV	(2.551)			2.824
Lincoln National	PA	(2.463)			0.085
Fidelity Natl Info Services	FL	(2.362)
CMS Energy	MI	(2.287)
AmerisourceBergen	PA	(2.215)
Kroger	OH	(2.178)
JM Smucker	OH	(2.167)
Marathon Oil Corp	TX	(2.102)			4.465
IQVIA Holdings	NC	(2.044)	(0.590)		0.267
Liberty Media Corp	CO	(2.025)
United Rentals	CT	(1.896)
Continental Resources	OK	(1.890)			0.017
Atmos Energy	TX	(1.879)		-	0.019
Cardinal Health	OH	(1.876)
Noble Energy Inc	TX	(1.819)
EQT Corp	PA	(1.760)			0.224
Torchmark Inc	TX	(1.760)
General Mills	MN	(1.719)		0.196	0.018
Restaurant Brands Intl	FL	(1.705)
Apache	TX	(1.705)			2.288
Westlake Chemical Corp	TX	(1.638)		0.114
ONEOK	OK	(1.624)
Molson Coors Brewing	CO	(1.624)
Archer Daniels Midland	IL	(1.511)		0.307	0.095
State Street Corp	MA	(1.483)		0.116	0.425
Waste Management	TX	(1.482)
Dollar Tree	VA	(1.459)
Andeavor	TX	(1.428)		0.152	0.008
Pioneer Natural Resources	TX	(1.397)			0.107
Mylan NV	PA	(1.373)
Kansas City Southern	MO	(1.289)
Wyndham Worldwide	NJ	(1.184)		0.098	0.084
Lab Corp of America	NC	(1.179)		0.002
Eastman Chemical	TN	(1.172)		0.378	0.248
Republic Services	AZ	(1.171)
Air Products & Chemicals	PA	(1.165)	(0.021)	0.370	0.076
Roper Technologies	FL	(1.148)			0.008
Thomson Reuters	NY	(1.107)
Hess Corp	NY	(1.085)			0.164
PulteGroup	GA	(1.049)			0.100
Nielsen Holdings plc	NY	(1.048)			0.130
.IHS Markit Ltd	CO	(0.980)
National Oilwell Varco	TX	(0.978)	(0.053)	0.060	0.405
Hologic	MA	(0.965)			0.014
Ecolab	MN	(0.878)		0.265	0.022
Principal Financial Group	IA	(0.869)			0.276
Cincinnati Financial	OH	(0.865)
PVH Corp	NY	(0.860)
Coty Inc	NY	(0.852)
Target	MN	(0.825)
Willis Towers Watson	VA	(0.814)		0.382
DaVita	CO	(0.809)
JB Hunt Transport	AR	(0.791)
Fifth Third Bancorp	OH	(0.787)
Waste Connections	TX	(0.779)
Concho Resources	TX	(0.766)
Dr Pepper Snapple	TX	(0.750)		0.014
Fiserv	WI	(0.736)
Citizens Financial Group	RI	(0.714)		(0.103)	0.052
Vulcan Materials	AL	(0.703)			0.018
Dover	IL	(0.684)		0.122
PACCAR	WA	(0.672)		0.012
FleetCor Technologies	GA	(0.666)
Martin Marietta Materials	NC	(0.663)		0.083	0.003
Global Payments	GA	(0.661)			0.007
Dentsply Sirona	PA	(0.657)			0.138
Dollar General	TN	(0.653)
Devon Energy	OK	(0.648)		0.098
Fidelity National Financial	FL	(0.629)		0.005	0.041
Loews Corp	NY	(0.621)			0.289
Ingersoll Rand plc	NC	(0.616)		0.646	0.057
Stanley Black & Decker	CT	(0.588)	(0.261)
CBS Corp	NY	(0.580)		0.843
TransUnion	IL	(0.579)	(0.050)
Cabot Oil & Gas	TX	(0.579)		0.014	0.223
Ametek	PA	(0.572)
Pentair plc	MN	(0.571)		0.049
Affiliated Managers Group	FL	(0.566)
Nucor	NC	(0.559)		0.012	0.180
Northern Trust	IL	(0.553)
Aramark	PA	(0.553)
Xylem	NY	(0.547)
Church & Dwight	NJ	(0.511)		0.008
Liberty Broadband	CO	(0.505)
TransDigm Group	OH	(0.501)	(0.011)
Allstate	IL	(0.487)		0.358
Omnicom Group	NY	(0.481)	(0.016)
Cintas	OH	(0.469)
Campbell Soup	NJ	(0.454)		0.098
Conagra Brands	IL	(0.448)		0.275
Total System Services	GA	(0.412)
Publix Super Markets	FL	(0.396)		0.105	0.033
First Data	NY	(0.394)	(0.252)	(0.004)	0.252
Alexion Pharmaceuticals	CT	(0.378)			0.537
Kellogg	MI	(0.355)
Albemarle	NC	(0.352)		0.097	0.001
AutoZone	TN	(0.336)
Packaging Corp of America	IL	(0.335)		0.137
L Brands	OH	(0.333)		0.096
Markel	VA	(0.330)			0.023
Mohawk Industries	GA	(0.327)
Equifax	GA	(0.321)	(0.030)	0.046	0.057
Perrigo Co plc	MI	(0.318)			0.011
Ventas	IL	(0.317)
Alliance Data Systemd	TX	(0.315)
Rockwell Collins	IA	(0.310)		0.400	0.025
Centene	MO	(0.303)
Invesco Ltd	GA	(0.291)		0.024
Teleflex	PA	(0.270)		0.047
Old Dominion Freight	NC	(0.270)
PPG Industries	PA	(0.263)	(0.189)
Viacom	NY	(0.254)		0.348
L3 Technologies	NY	(0.234)		0.415	0.006
Sun Trust Banks	GA	(0.232)
Equinix	CA	(0.212)
LKQ Corp	IL	(0.196)		0.037
TD Ameritrade	NE	(0.193)
Parker-Hannifin	OH	(0.186)		0.571	0.023
VF Corp	NC	(0.178)
IDEX Corp	IL	(0.164)
Ingredion	IL	(0.164)		0.030	0.004
Quest Diagnostics	NJ	(0.159)
Franklin Resources	CA	(0.155)
Digital Realty Trust	CA	(0.154)
Fortune Brands Home & Security	IL	(0.154)		0.083
Zoetis	NJ	(0.148)
Darden Restaurants	FL	(0.146)
Vertex Pharmaceuticals	MA	(0.134)			(0.367)
Unum Group	TN	(0.130)
Cimarex Energy	CO	(0.127)
Ross Stores	CA	(0.121)
Progressive Corp	OH	(0.111)
O'Reilly Automotive	MO	(0.090)			0.009
Universal Health Services	PA	(0.087)		0.006
Ulta Beauty	IL	(0.086)
MSCI Inc	NY	(0.085)		0.002
Brown-Forman	KY	(0.084)		0.183
Fastenal	MN	(0.081)
SEI Investments	PA	(0.068)
Wynn Resorts Ltd	NV	(0.067)			3.272
CH Robinson Worldwide	MN	(0.063)
Broadridge Financial Solutions	NY	(0.054)			0.004
CR Bard	NJ	(0.046)
Henry Schein	NY	(0.035)
Paychex	NY	(0.034)			0.039
IDEXX Labs	ME	(0.034)
Iron Mountain	MA	(0.033)
McCormick Co	MD	(0.031)		0.185
SBA Comminications	FL	(0.027)
Clorox	CA	(0.023)	(0.007)
SYSCO Corp	TX	(0.019)		0.361
Expeditors Intl of Washington	WA	(0.014)	(0.120)
Extra Space Storage	UT	(0.010)
Sherwin-Williams	OH	(0.008)
Welltower	OH	(0.005)
MPLX LP	OH	(0.005)
Nasdaq Inc	NY	(0.003)			0.007
Copart	TX	(0.002)			0.011
Total all 201		(344.039)
Public Storage	CA	-
Royal Caribbean Cruises	FL	-
Avalon Bay Comminities	VA	-
Equity Residential	IL	-
Incyte Corp	DE	-			0.250
Boston Properties	MA	-
Duke Realty	IN	-
SL Green Realty	NY	-
Essex Property Trust	CA	-
Realty Income	CA	-
Magellan Midstream Partners LP	OK	-
Vornado Realty Trust	NY	-
Plains All America Pipeline LP	TX	-
Annaly Capital Mgt Inc	NY	-
Alnylam Pharmaceuticals	MA	-			0.115
Norwegian Cruise Line Hldgs	FL	-
Alexandria Real Estate Equities	CA	-
Invitation Homes Inc	TX	-
Mis-America Apt Communities	TN	-
Regency Centers Corp	FL	-
Cheniere Energy Inc	TX	-
Diamondback Energy	TX	-
Cos With Net Deferred Income Tax Assets
UDR Inc	CO	0.001
GGP	IL	0.003
CBOE Global Markets	IL	0.003
Ball Corp	CO	0.004
AO Smith	WI	0.004
Gartner	CT	0.005
CoStar Group	DC	0.005
Hormel Foods	MN	0.006
Cooper Cos	CA	0.016			0.002
Hershey	PA	0.017		0.115
Celanese	TX	0.029		0.313	0.136
CBRG Group	CA	0.035		0.029	0.054
HCP Inc	CA	0.036
Eaton Corp	OH	0.039			0.245
Rollins	GA	0.042			0.018
Masco Corp	MI	0.048			0.009
ResMed	CA	0.048
Prologis	CA	0.052
WW Grainger	IL	0.069
Host Hotels & Resorts	MD	0.071			0.008
SVB Financial Group	CA	0.072
FMC Technologies	TX	0.076	(0.020)	0.072	0.082
FMC Corp	PA	0.077		0.041
Genuine Parts	GA	0.084		0.121
BB&T Corp	NC	0.090		(0.107)
Baker Hughes	TX	0.095	(0.027)		0.214
Intl Flavors & Fragrances	NY	0.096
Tapestry	NY	0.107
T Rowe Price Group	MD	0.114
Huntington Bancshares	OH	0.117		0.035	0.076
Varian Medical Systems	CA	0.119	(0.016)
Illumina	CA	0.122			0.043
Delphi Automative plc	MI	0.125		0.175
Yum! China Holdings	TX	0.136
CarMax	VA	0.151
Monster Beverage	CA	0.160
Sealed Air	NC	0.160	(0.020)		0.144
Scripps Networks Interactive	TN	0.175
Autoliv	MI	0.177		0.067
NVR Inc	VA	0.181
Edwards Lifescience	CA	0.195	(0.006)		0.046
Hasbro	RI	0.207		0.048
Moodys	NY	0.212
Comerica	TX	0.217
Arch Capital Group Ltd	NY	0.221			0.012
Emerson Electric	MO	0.226	(0.009)	0.353
First Republic Bank	CA	0.234			0.017
Gap Inc	CA	0.249	(0.058)
Zions Bancorp	UT	0.250		0.019
Lennar Group	FL	0.277
Whole Foods Market	TX	0.289
Weyerhaeuser	WA	0.293		0.471	0.046
Interactive Brokers Group	CT	0.294
Tiffany	NY	0.300		0.125
Avery Dennison	CA	0.303	(0.062)	0.208	0.111
Regions Financial	AL	0.308			0.013
Raymond James Financial	FL	0.313
Huntington Ingalls Industries	VA	0.314		0.568
Best Buy	MN	0.317
Cummins	IN	0.344	(0.059)
D R Horton	TX	0.365			0.003
Athene Holding Ltd	IA	0.365			0.018
BorgWarner	MI	0.370		0.039	0.140
.CNA Financial	IL	0.379
Humana	KY	0.399
Arthur J Gallagher	IL	0.425		0.023	0.478
Rockwell Automation	WI	0.444		0.306	0.015
BioMarin Pharma	CA	0.447			0.353
Lear Corp	MI	0.459	(0.062)	0.089	0.188
Travelers Cos	MN	0.465
Discover Financial Services	IL	0.510
Baxter Intl	IL	0.536	(0.145)	0.411	0.380
Southern Copper Corp	AZ	0.565	(0.046)		0.447
M&T Bank	NY	0.565		0.196
Apollo Global Mgt LLC	NY	0.572			0.012
Key Corp	OH	0.607
Ameriprise Financial	MN	0.619		0.062
Johnson Controls Intl plc	WI	0.627		0.013	0.468
Synchrony Financial	CT	0.633
United Continental	IL	0.655		1.662	0.116
Textron	RI	0.669		0.529
Vantiv	OH	0.713
Newmont Mining	CO	0.739	(0.006)
E*Trade Financial	NY	0.756			0.055
Yum! Brands	KY	0.768			0.284
HCA Healthcare	TN	0.846
CNH Industrial NV	IL	0.853		0.553
Ally Financial	MI	0.976			1.987
Sirius XM Holdings	NY	1.078
Arconic	NY	1.095		1.382	0.652
Blackstone Group	NY	1.286
American Airlines	TX	1.898		2.886	0.456
TE Connectivity	PA	1.905		0.231	0.234
Halliburton	TX	1.919	(0.406)		0.648
Whirlpool	MI	2.036		0.466	1.274
Delta Airlines	GA	3.064		5.259	0.379
Level 3 Parent	CO	3.122
Hartford Financial Group	CT	3.281			0.795
Kinder Morgan Inc	TX	4.352			0.175
Total all 99		49.693	(4.046)	31.316	38.432
Total all 322		(294.346)	(4.046)	31.316	38.432