Sunday, December 17, 2017

US Companies With Stock Market Caps Between $3 Bil and $5 Bil Had Highly Coveted Total Deferred Income Tax Liabilities of $39.0 Bil at Their Most Recent Year End, Mostly at December 31, 2016 ..................................................................................... US Companies Also Had Very Damaging Total Deferred Income Tax Assets of $50.8 Bil, Driven Mainly By Fannie Mae's $33.5 Bil, at That Same Date ...................................................................................... Utilities, With Their Massive Accelerated Tax Depreciation From Their Monstrously High Property Base, Comprised an Amazing 10 of the Top 17 Companies With the Highest Deferred Income Tax Liabilities in This Stock Market Cap Range: Utility Customers All Over the US Should in All Fairness Be Getting Just Huge, Immediate Cuts in Their Monthly Utility Bills Since Due To the Trump Tax Bill, Utility Companies Will Be Getting an Extra 4Q 2017 Earnings Increase of Roughly 40% of Their Extremely Large Amounts of the Highly Desired Deferred Income Tax Liabilities Across the Board and All Over the US: If Utility Consumers Don't See These Huge Cuts in Their January 2018 Utility Bills, They Will Rightfully Be Very Angry .................................................................................. Texas Companies Continue Their All-Out Assault of the Tax Benefits in the Trump Tax Bill ...................................................................................... There Is No Way Many US Companies, and Also Many Foreign Companies With Their Many US Subsidiaries, Will Be Reporting Good, Reliable Audited 4Q 2017 Bottom Line Earnings Numbers Starting in Early January 2018, Due To the Difficulty in Measuring the Effects of the Trump Tax Bill on Critical Financial Statement Information: From My First Hand Knowledge, the Computation Is Extremely Complex and Very Time-Consuming ..... Look Later For Many Embarrassing 4Q 2017 Earnings Revisions and the Resultant Investor Lawsuits ..... The US Congress Is Putting US Company Accounting, Internal Auditing and Tax Staffs and Their Outside CPA Firms Under Unnecessary, Intense Pressure and It's Not Good For Either the Accuracy of the Information or More Importantly For Their Health ..... Also, It Is Necessary To Really Delve Deeply Into US Companies' Voluminous Fixed Asset Detailed Records, Which Is a Critical Piece To the Puzzle in Measuring the Effect of the Trump Tax Bill on Financial Statements ..... This Critical Process Will Result For Many Companies in the Necessary Cleaning Up of the Fixed Asset Details With the Resultant Effect of Many Write-Offs and Corrections To Both the Book Fixed Asset System Information, the US Federal Tax Fixed Asset System Information and Even the US State Fixed Asset System Information (For Many Companies, Some of the Information There Now Is At Least a Bit Ugly, and With the Trump Tax Bill, If You Clean Up Just One Fixed Asset Detailed Record, It Will Directly Impact Income Tax Expense Used in Computing Bottom Line 4Q 2017 Earnings) ...................................................................................... If Everyone Acts Ethically, Many US Companies Will Get Qualified Opinions On Their 2017 Financial Statements From Their External CPA Firms If the Trump Tax Bill Is Signed In 2017: If You Think US Company Fixed Asset Systems Are Pristine, You Are Out of Touch .................................................................................... On To US Companies With Stock Market Caps Below $3 Bil In Order To Include More Companies In Smaller US States .....................................................................................

From a review of audited financial statements and their related income tax and other relevant footnotes in their most recent audited annual financial statements in their SEC filings and with help from the excellent MSN Money Stock Screener System, below here are the audited Net Deferred Income Tax (Liabilities) Assets mostly at December 31, 2016 for the 334 US Companies with stock market caps between $3 Bil and $5 Bil recently.



Net


Deferred 


Income


Tax 


Assets


(Liabilities)
US Companies State Mostly
Stock Market Caps $3-5 Bil HQs 12-31-16


bils $s
Cos With Net Deferred Income Tax Liabilities

Envision Healthcare TN          (1.681)
Ryder System FL          (1.680)
Idacorp ID          (1.244)
Genesee & Wyoming CT          (1.160)
ONE Gas OK          (1.039)
Tribune Media IL          (0.984)
Range Resources TX          (0.943)
PNM Resources NM          (0.941)
Avis Budget Group NJ          (0.936)
National Fuel Gas Co NY          (0.891)
WGL Holdings DC          (0.868)
Avista WA          (0.841)
Southwest Gas Holdings NV          (0.839)
Hawaiian Electric Industries HI          (0.729)
Spire MO          (0.708)
Kirby TX          (0.705)
Portland General Electric OR          (0.669)
Air Lease CA          (0.667)
Patterson-UTI Energy TX          (0.647)
Sunoco LP TX          (0.643)
Domtar Corp SC          (0.630)
Sinclair Broadcast Group MD          (0.609)
Conduent NJ          (0.605)
ALLETE MN          (0.584)
CVR Energy TX          (0.580)
Penske Automotive Group MI          (0.565)
EnLink Midstream LLC TX          (0.543)
Schneider National WI          (0.539)
Black Hills Corp SD          (0.536)
HRG Group NY          (0.511)
New Jersey Resources NJ          (0.506)
Wendy's OH          (0.447)
Casey's General Stores IA          (0.440)
Graphic Packaging Holding GA          (0.405)
Hilton Grand Vacations FL          (0.389)
Realogy Holdings NJ          (0.389)
Meredith Corp IA          (0.385)
Snyder's-Lance NC          (0.373)
Antero Midstream GP LP CO          (0.368)
Amweican National Insurance TX          (0.367)
Graham Holdings VA          (0.362)
Ashland Global Holdings KY          (0.347)
Triton Intl Ltd NY          (0.317)
Silgan Holdings CT          (0.277)
Cable One AZ          (0.276)
TCF Financial MN          (0.275)
CACI Intl VA          (0.273)
CSRA Inc VA          (0.272)
Colfax Corp MD          (0.240)
Vishay Intertechnology PA          (0.227)
Bemis WI          (0.216)
Mednax FL          (0.208)
Patterson Companies MN          (0.192)
Greif OH          (0.184)
Federated Investors PA          (0.176)
Peabody Energy MO          (0.174)
MasTec FL          (0.167)
Edgewell Personal Care MO          (0.164)
Primerica GA          (0.161)
John Wiley & Sons NJ          (0.155)
Churchill Downs KY          (0.153)
Akorn IL          (0.152)
MB Financial IL          (0.152)
ILG Inc FL          (0.152)
Tempur Sealy Intl KY          (0.152)
Flowers Foods GA          (0.146)
Essent Group Ltd PA          (0.143)
DST Systems MO          (0.143)
Integra Lifesciences Holdings NJ          (0.142)
Marriott Vacations Worldwide FL          (0.142)
WESCO Intl PA          (0.142)
Armstrong World Industries PA          (0.141)
Cinemark Holdings TX          (0.138)
Beacon Roofing Supply VA          (0.138)
AMC Networks NY          (0.137)
Welbilt FL          (0.131)
Legg Mason MD          (0.126)
Nexstar Media Group TX          (0.126)
Digitalglobe CO          (0.124)
Bio-Techne MN          (0.121)
Hain Celestial Group NY          (0.121)
Cotiviti Holdings GA          (0.121)
CoreLogic CA          (0.119)
EMCOR Group CT          (0.117)
Nuance Communications MA          (0.111)
Cedar Fair LP OH          (0.105)
Performance Food Group VA          (0.103)
Portola Pharmaceuticals OH          (0.101)
Vector Group Ltd FL          (0.093)
Sanderson Farms MS          (0.092)
Trinet Group CA          (0.092)
Ollie's Bargain Outlet Holdings PA          (0.089)
Deluxe MN          (0.084)
Boyd Gaming NV          (0.084)
Seaboard Corp KS          (0.077)
UniFirst MA          (0.077)
Weatherford Intl plc TX          (0.076)
Regal Beloit WI          (0.075)
On Assignment CA          (0.074)
Uniti Group AR          (0.069)
Cracker Barrel Old Country Store TN          (0.062)
Dycom Industries FL          (0.054)
Tower Seniconductor Ltd CA          (0.054)
Landstar System FL          (0.052)
FirstCash TX          (0.052)
Scientific Games NV          (0.046)
Barnes Group CT          (0.041)
Avnet AZ          (0.038)
Morningstar IL          (0.038)
Cree Inc NC          (0.038)
j2 Global CA          (0.035)
Ormat Technologies NV          (0.035)
Floor & Decor Holdings GA          (0.034)
PolyOne Corp OH          (0.034)
Houlihan Lokey CA          (0.031)
Euronet Worldwide KS          (0.030)
Blackbaud SC          (0.027)
Cantel Medical NJ          (0.025)
Lancaster Colony OH          (0.025)
Grand Canyon Education AZ          (0.024)
Louisiana-Pacific TN          (0.023)
NuStar Energy L.P. TX          (0.020)
Versum Materials AZ          (0.019)
Sprouts Farmers Market AZ          (0.019)
Neogen MI          (0.017)
Bank of Hawaii HI          (0.015)
First Financial Bankshares TX          (0.015)
Chemed OH          (0.014)
Generac Holdings WI          (0.014)
Woodward CO          (0.013)
Cimpress NV MA          (0.013)
Maximus VA          (0.012)
Entegris MA          (0.012)
NuVasive CA          (0.012)
Science Applications Intl VA          (0.011)
MSA Safety PA          (0.011)
Rayonier FL          (0.010)
Texas Roadhouse KY          (0.010)
Haemonetics MA          (0.008)
Zynga CA          (0.006)
Ellie Mae CA          (0.006)
Molina Healthcare CA          (0.005)
Proofpoint CA          (0.002)
Outfront Media NY          (0.002)
Washington Federal Inc WA          (0.002)
Weingarten Realty Investors TX          (0.001)
Ryman Hospitality Properties TN          (0.001)
Trex Co VA          (0.001)



Total all 148
       (38.999)



Cos With DTL or DTA of .000

STORE Capital Corp AZ                 -  
EPR Properties MO                 -  
Senior Housing Properties Trust MA                 -  
Tesaro MA                 -  
Gramercy Property Trust NY                 -  
Roku CA                 -  
Apple Hospitality REIT VA                 -  
Valero Energy Partners LP TX                 -  
Life Storage NY                 -  
AmeriGas Partners LP PA                 -  
Healthcare Realty Trust TN                 -  
JBG SMITH Properties MD                 -  
Pendrell WA                 -  
Insulet MA                 -  
Puma Biotechnology CA                 -  
Cousins Properties GA                 -  
Spirit Realty Capital TX                 -  
First Industrial Realty Trust IL                 -  
TC Pipelines LP TX                 -  
Paramount Group NY                 -  
Sunstone Hotel Investors CA                 -  
Equity Commonwealth IL                 -  
RingCentral CA                 -  
FibroGen CA                 -  
Black Stone Minerals LP TX                 -  
ACADIA Pharmaceuticals CA                 -  
Pure Storage CO                 -  
Sabra Health Care REIT CA                 -  
PS Business Parks CA                 -  
Blackstone Mortgage Trust NY                 -  
FibroGen CA                 -  
Boardwalk Pipeline Partners LP TX                 -  
MaxLinear CA                 -  
Tailgrass Energy Partners LP KS                 -  
Virtu Financial NY                 -  
2U Inc MD                 -  
National Health Investors TN                 -  
Physicians Realty Trust WI                 -  
Blueprint Medicines MA                 -  
MFA Financial NY                 -  
LaSalle Hotel Properties MD                 -  
Brandywine Realty Trust PA                 -  
AveXis IL                 -  
EastGroup Properties MS                 -  
Carvana AZ                 -  
Dominion Energy Midstream Partners LP VA                 -  
Jagged Peak Energy CO                 -  
MuleSoft CA                 -  
Sarepta Therapeutics MA                 -  
HubSpot MA                 -  
New Relic CA                 -  
DDR Corp OH                 -  
Clovis Oncology CO                 -  
Retail Properties of America IL                 -  
Corporate Office Properties Trust MD                 -  



Total all 55




Cos With Net Deferred Income Tax Assets

Paycom Software OK            0.001
BeiGene Ltd MA            0.001
Univar IL            0.001
Zendesk CA            0.001
Ciena MD            0.001
Green Dot Corp CA            0.001
Monolithic Power Systems CA            0.001
Yelp Inc CA            0.002
Sensient Technologies WI            0.002
Taubman Centers MI            0.003
Manhattan Associates GA            0.003
Summit Materials CO            0.004
CNX Resources PA            0.004
Lumentum Holdings CA            0.004
Texas Pacific Land Trust TX            0.004
Chimera Investment Corp NY            0.005
INC Research Holdings NC            0.006
Ares Management LP CA            0.007
Prosperity Bancshares TX            0.009
Healthcare Services Group PA            0.010
ProAssurance AL            0.010
Five Below PA            0.011
Kennametal PA            0.013
Extended Stay America NC            0.013
Cirrus Logic TX            0.013
Moog NY            0.013
Aspen Technology MA            0.014
Core Laboratories NV TX            0.014
Littelfuse IL            0.014
TSE Trinseo SA PA            0.015
Teradata OH            0.016
TFS Financial  OH            0.016
RealPage TX            0.016
Chesapeake Energy OK            0.016
LendingTree NC            0.018
Belden MO            0.019
NewMarket  VA            0.020
ICU Medical Medical CA            0.021
Penumbra CA            0.022
Mellanox Technologies Ltd CA            0.022
Globus Medical PA            0.023
NU Skin Enterprises UT            0.024
Silicon Laboratories TX            0.026
Kemper Corp IL            0.026
Visteon MI            0.028
John Bean Technologies IL            0.029
TripAdvisor MA            0.030
South State Corp SC            0.031
LCII Industries IN            0.032
RLJ Lodging Trust MD            0.033
Umpqua Holdings OR            0.034
The Michael's Companies TX            0.036
Masimo Corp CA            0.039
Tech Data FL            0.043
Dick's Sporting Goods PA            0.046
Medidata Solutions NY            0.047
Fair Isaac CA            0.048
Stamps.com CA            0.049
American Eagle Outfitters PA            0.049
Columbia Banking System WA            0.050
Timken OH            0.051
Associated Banc WI            0.052
Choice Hotels Intl MD            0.053
Urban Outfitters PA            0.053
Fulton Financial PA            0.054
Regal Entertainment Group TN            0.056
UMB Financial MO            0.058
Wintrust Financial IL            0.059
Texas Capital Bancshares TX            0.059
Home BancShares AR            0.061
BankUnited FL            0.063
Glacier Bancorp MT            0.067
Pegasystems MA            0.070
Cathay General Bancorp CA            0.071
Integrated Device Technology CA            0.072
Valmont Industries NE            0.073
Healthsouth AL            0.076
United Bankshares WV            0.079
Owens-Illinois OH            0.085
Selective Insurance Group NJ            0.085
Signet Jewelers Ltd NJ            0.085
Columbia Sportswear OR            0.092
F N B Corp PA            0.099
Hancock Holding MS            0.104
Dun & Bradstreet NJ            0.107
IBERIABANK LA            0.113
The Hanover Insurance Group MA            0.115
Transocean Ltd TX            0.120
Camping World Holdings IL            0.126
White Mountains Insurance Group Ltd NH            0.127
Delphi Technologies PLC MI            0.129
Valley National Bancorp NJ            0.130
Viasat CA            0.133
Williams-Sonoma CA            0.135
KLX Inc FL            0.142
First Hawaiian HI            0.152
Jabil Circuit FL            0.156
Navistar IL            0.161
OneMain Holdings IN            0.176
Terex CT            0.182
BGC Partners NY            0.184
Bed Bath & Beyond NJ            0.195
First Horizon TN            0.200
Chemical Financial MI            0.205
Cabot Corp MA            0.212
Investors Bancorp NJ            0.216
NRG Yield NJ            0.216
Stifel Financial MO            0.225
Red Rock Resorts NV            0.244
JELD-WEN Holding NC            0.260
Valvoline KY            0.281
Murphy Oil AR            0.297
ITT Corp NY            0.297
New York Times NY            0.301
Brunswick IL            0.305
Evercore NY            0.305
Brink's VA            0.320
PBF Energy NJ            0.334
Planet Fitness NH            0.409
Radian Group PA            0.412
Fortress Investment Group LLC NY            0.424
Assured Guaranty Ltd NY            0.497
Tallgrass Energy GP LP KS            0.521
Tupperware Brands FL            0.523
Dana OH            0.551
NCR Corp GA            0.551
WR Grace MD            0.707
CNO Financial Group IN            0.786
Navient DE            0.802
Plains GP Holdings LP TX            1.514
Fannie Mae DC          33.530



Total all 131
         50.814



Grand Total all 334          11.815