Corporate Foreign Tax Credit, 1996: An Industry and Geographic Focus

Corporate Foreign Tax Credit, 1996: An Industry and Geographic Focus

Nick Ward

Worldwide taxable income, foreign-source taxable income, and current-year foreign taxes paid, accrued, or deemed paid all continued their recent upward trends for 1996. This allowed U.S. corporations to claim a record high foreign tax credit of $40.3 billion for 1996 as income and taxes increased across the board. Reductions in creditable taxes and the inclusion of prior-year taxes continue to play stable though minor roles in determining the amount of foreign tax credit claimed. As in prior years, the United Kingdom, Canada, and Japan continued to generate the most foreign-source taxable income. One recent change, though, has been in the industries of the corporations earning foreign-source income and claiming foreign tax credits. Finance, insurance, and real estate corporations have been rapidly increasing their share of foreign income and foreign tax credit since 1990. U.S. corporations with foreign tax credits can no longer be characterized primarily as manufacturers involved in foreign oil and gas extraction or in the foreign production of goods. Banking and services are gradually becoming more significant abroad and claiming an increasing amount of the foreign tax credit.

For 1996, U.S. corporations were able to claim a record-high foreign tax credit of $40.3 billion. This amount represents an increase of nearly $10 billion from 1995. Corporations with credits earned $150.8 billion in foreign-source taxable income, paying $41.2 billion in income taxes to foreign governments. Under the foreign tax credit provisions, these corporations were able to lower their regular U. S. tax liability from $130.7 billion (U.S. income tax before credits) to $90.5 billion, a 30.8-percent reduction. Other credits, including the U.S. possessions tax credit and the general business credit, further reduced their U.S. tax liability to $84.3 billion.

U.S. manufacturers remain the most significant industry group in the key measurements of foreign activity. U.S. manufacturers accounted for 66 percent of total foreign-source taxable income, 71 percent of total current-year foreign taxes paid, accrued, or deemed paid, and nearly 73 percent of total foreign tax credit claimed for 1996 [1]. However, the types of U.S. corporations receiving foreign-source taxable income have expanded and diversified in recent years. Corporations classified in the finance, insurance, and real estate industry grouping (FIRE) have rapidly increased their shares of both foreign-source taxable income and total foreign tax credit claimed. This industry’s share of the total foreign tax credit claimed has more than doubled from less than 7 percent for 1990 to almost 16 percent for 1996.

As in prior years, the largest shares of foreign-source taxable income were generated in the United Kingdom, Canada, Japan, Germany, and the Netherlands. With nearly $20 billion of the $150.8 billion (or 13.2 percent) in foreign-source taxable income, the United Kingdom provided the largest amount of income. Overall, the 12 nations of the European Economic Community combined for 38 percent of foreign-source taxable income, 21 percent of current-year taxes paid or accrued, and 45 percent of current-year tax deemed paid.

Background

U.S. corporations are subject to U.S. taxation on their worldwide income [2]. Their foreign-source income is also subject to taxation by the country in which the income is earned. Double taxation of U.S. corporation’s income occurs when the same income is taxed first by the foreign government and, again, by the U.S. Since the Revenue Act of 1918, the foreign tax credit has served to reduce the impact of double taxation. The foreign tax credit provisions allow U.S. corporations to offset a portion or all of the U.S. tax on their foreign source taxable income with a credit for taxes paid to a foreign tax authority [3].

Although foreign tax credit provisions have been present for over 80 years, their nature and restrictions have been modified many times. The first limitation, an “overall limitation” on the amount of the foreign tax credits, was first introduced as part of the Revenue Act of 1921. Prior to this alteration, the provisions allowed an unlimited credit that, in effect, offset some of the U.S. tax on income earned within the United States. Congress included the overall limitation to restrict the foreign tax credit to an amount equivalent to the U.S. tax on foreign-source taxable income. Computationally, this limitation is equal to the amount of U.S. tax multiplied by the ratio of foreign-source to worldwide taxable income. This places a ceiling on the amount of creditable taxes. Corporations are then allowed to credit the lesser of their creditable taxes or the amount of this limit. Except for a brief period beginning after the enactment of the Internal Revenue Code of 1954 and lasting until the passage of Public Law 86-870 in 1960, the overall limitation has been an integral part of the foreign tax credit provisions.

At various times, Congress has also incorporated a “per-country” limitation, which required taxpayers to calculate a foreign tax credit limitation on a country-by-country basis. Congress included this limitation to prevent taxpayers from using foreign taxes incurred in a higher-tax foreign country to offset U.S. taxes on income earned in a lower-tax foreign country. In various forms, this per-country limitation was operational from 1932 until 1976. For the periods 1932-1954 and 1960-1976, both the per-country limitation and the overall limitation were in effect.

Beginning with the passage of the Revenue Act of 1962, foreign tax credit limitations based on statutory categories of income have also been included in the foreign tax credit provisions. Initially, under the 1962 Act, Congress required taxpayers to compute a separate limitation for nonbusiness interest income. The intent of this requirement was to remove the incentive for corporations with foreign-source income, taxed at rates in excess of the U.S. rate, from making interest-bearing investments abroad to generate additional foreign income. Since this foreign source income was subject to little or no foreign tax, this additional lower-taxed foreign income, combined with the higher-taxed foreign income, enabled corporations to increase the total foreign tax credit claimed.

The purpose of each limitation has remained the same even as the number of separate categories of income requiring separate limitations has increased dramatically, especially under the provisions of Tax Reform Act of 1986. For 1996, taxpayers had to compute a separate foreign tax credit limitation for the following statutory categories of foreign-source income (described in the Explanation of Selected Terms section below): passive income, high withholding tax interest, financial services income, shipping income, dividends from “noncontrolled” section 902 foreign corporations, dividends from Interest Charge-Domestic International Sales Corporations (IC-DISC’s) or former DISC’s, taxable foreign trade income attributable to Foreign Sales Corporations (FSC’s) [4], certain distributions from Foreign Sales Corporations (FSC’s) or former FSC’s. and “all other income from outside the United States” (commonly referred to as general limitation income): Income re-sourced by Treaty (under Section 904(g) primarily) and income from sanctioned countries (Section 901 (j)) became separate limitation categories under the Taxpayer Relief Act of 1997. For 1996, however, both income categories are included in a combined limitation category.

In addition, Congress first allowed a carryover of “unused” foreign tax credits in the Technical Amendments Act of 1958. For 1996, the carryover provision allowed foreign taxes that exceeded the limitations to first be carried back 2 years and then carried forward 5 years and used as a credit for those years, to the extent the foreign taxes did not exceed the limitations for each year. The foreign taxes available for the credit shown in this article include only those carried forward to 1996 from previous years; no taxes carried back to 1996 are include in the statistics.

Foreign Tax Credit

The foreign tax credit of $40.3 billion for 1996 easily eclipses the former record-high of $36.8 billion claimed for 1979 [5]. The $40.3 billion also represents an increase by nearly one-third from 1995. The reason behind this large increase appears to be simple; the components of the foreign tax credit all increased. Figure A shows the major components of the foreign tax credit calculation–income subject to U.S. tax (or worldwide income), U.S. income tax before credits, foreign-source taxable income, current-year foreign taxes, and the resulting total foreign tax credit claimed–for 1992 through 1996. As shown in Figure A, income subject to U.S. tax (worldwide income), U.S. income tax before credits, foreign-source taxable income, and current-year foreign taxes have all climbed steadily as the foreign tax credit rose from $21.5 billion for 1992 to $40.3 billion for 1996. During those 5 years, an 87-percent increase in foreign tax credit accompanied a jump of over 90 percent in income subject to U.S. tax.

Figure A

U.S. Corporation Returns with a Foreign Tax Credit: Income Subject to U.S. Tax, Foreign-Source Taxable Income, Current-Year Foreign Taxes, and Foreign Tax Credit, Tax Years 1992-1996

[Money amounts are in millions of dollars]

U.S.

Income income

Tax year Number of subject tax

returns to U.S. before

tax credits

(1) (2) (3)

1992 5,147 194,204 67,942

1993 6,322 228,688 81,913

1994 7,199 255,439 90,786

1995 6,710 303,308 107,996

1996 6,100 370,049 130,748

Foreign-source taxable

income (less loss)(1)

As a

Tax year percentage

Amount of

worldwide

taxable

income(2)

(4) (5)

1992 86,925 44.8

1993 94,687 41.4

1994 101,521 39.7

1995 120,518 39.7

1996 150,826 40.8

Current-year

foreign taxes(3)

As a

Tax year percentage

Amount of

foreign-

source

income(4)

(6) (7)

1992 22,574 26.0

1993 23,716 25.0

1994 26,470 26.1

1995 30,930 25.7

1996 41,177 27.3

Foreign tax

credit

As a

Tax year percentage

Amount(5) of

U.S. income

tax(6)

(8) (9)

1992 21,533 31.7

1993 22,895 28.0

1994 25,419 28.0

1995 30,416 28.2

1996 40,255 30.8

(1) For 1996, foreign-source taxable income is reported as “foreign taxable income (less loss) before adjustments,” in Table 1, column 37 at the end of this article.

(2) Foreign-source taxable income (column 4) divided by income subject to U.S. tax (column 2). Worldwide taxable income is equal to income subject to U.S. tax.

(3) For 1996, current-year foreign taxes are reported as “foreign taxes paid, accrued, and deemed paid” in Table 1, column 43, at the end of this article.

(4) Current-year foreign taxes (column 6) divided by foreign-source taxable income (column 4).

(5) The difference between current-year foreign taxes (column 6) and the foreign tax credit is due to: (1) carryforward of creditable taxes from prior years, (2) reduction of certain non-creditable current-year taxes, and (3) the effect of the credit limitation.

(6) Foreign tax credit (column 8) divided by U.S. income tax before credits (column 3).

More importantly, the large increases in income and taxes have been proportionate, leaving the components internally consistent for 1992 through 1996. With the exception of 1992, foreign-source taxable income as a percentage of worldwide income (column 5) has remained in the 39-to-41-percent range. Current-year foreign taxes as a percentage of foreign-source income, which serves as a proxy for the effective tax rate imposed by foreign governments on U.S. corporations’ foreign-source taxable income, has been only slightly variable, residing within the range of 25 to 27 percent. Also, corporations were able to offset a slightly higher percentage of their U.S. income tax (30.8 percent) for 1996 than for 1993, 1994, or 1995, but not as much as for 1992 (when the higher percentage of foreign-source income, mentioned above, increased the limitation). The overall effect of these slightly varying percentages, however, is minimal. U.S. corporations have experienced stable and balanced increases in both worldwide and foreign-source income since 1992. Current-year foreign taxes and the foreign tax credit claimed have merely followed the trend.

Factors Affecting the Amount of Foreign Tax Credit Claimed

As seen in Figure A, the current-year foreign taxes comprise a great deal of corporations’ eventual foreign tax credit. Greater taxes paid can, subject to the effects of the limitation provisions, result in a greater credit. The foreign tax credit, however, includes more than just current-year foreign taxes. The total pool of creditable taxes available to a corporation equals current-year foreign taxes, minus certain non-creditable current-year foreign taxes, plus carryover of creditable taxes from prior years [6].

For 1996, corporations were required to reduce their pool of current-year foreign taxes available for credit by nearly $1.8 billion. This represents an increase from 1992 and 1994, but a slight drop in relative importance as the percentage of taxes eventually reduced dropped from almost 6 percent for 1992 to 5 percent for 1994 to 4.3 percent for 1996. The bulk of this reduction, recorded on Form 1118, Schedule G, Reduction of Taxes, Paid, Accrued, or Deemed Paid, is from reductions of oil and gas extraction taxes under Section 907. To a much smaller extent, corporations are also required to reduce their pool of current-year taxes available for credit under a variety of other provisions, including Internal Revenue Code section 901 (j), which disallows certain taxes paid to sanctioned countries. The amount of current-year taxes disallowed for credit has been relatively small since the mid 1980’s. Figure B shows the total pool of current-year foreign taxes for the past 10 even years by combining the amount of the reduction with the amount of creditable current-year taxes after reduction. The full height of each bar indicates how much credit would have been available to corporations without the reduction provisions described above. Corporations have been required to reduce their creditable current-year foreign taxes an average of only 5 percent since the mid-1980’s. Before then, and especially in the late 1970’s, reductions in taxes related to oil and gas extraction played a much bigger role. For 1978, 1980, and 1982, for example, current-year foreign taxes were reduced by 19.3, 13.7, and 9.1 percent; respectively.

[Figure B ILLUSTRATION OMITTED]

After reducing their current-year taxes, the foreign tax credit provisions allow corporations to carry forward unused foreign tax credits for a period of up to 5 years and carry back up to 2 years [7]. As noted earlier, all statistics included in this article and the following tables show only taxes that have been carried forward from prior years. For 1996, corporations carried forward $8.7 billion of prior year taxes in addition to the $41 billion of current-year foreign taxes. Figure C shows carryforward taxes as a percentage of the total pool of taxes available for credit. Clearly, the relative importance of carryforward taxes has varied, but has stabilized recently. Carryforward taxes have accounted for roughly 20 percent of corporations’ creditable taxes since 1992. The amount of carryforward has stabilized since being much more volatile (and significant) in the late 1970’s and early 1980’s. The high carryforward balances of the era were driven by the petroleum industry. For 1978, corporations engaged in oil and gas extraction accounted for $17.3 billion, or 90.1 percent, of the $19.3 billion in carryover indicated for that year. Conversely, for 1996, corporations engaged in oil and gas extraction accounted for less than 5 percent of the $8.7 billion in carryforward taxes. However other oil-related industries are still generating significant amounts of carryforward taxes. Corporations manufacturing petroleum (including integrated) and coal products represented over 41.3 percent ($3.6 billion) of the total tax carried forward to 1996.

[Figure C ILLUSTRATION OMITTED]

Figure D summarizes the factors affecting the foreign tax credit calculation for even tax years 1978 through 1996. The total amount of creditable taxes, after reductions and including taxes carried forward from previous years, is shown in column 5. The difference between these amounts and the amount of credit actually claimed (column 6) reflects the effects of the limitation provisions and (far less significantly) any reductions in credit due to international boycott provisions. For 1996, after all restrictions of the foreign tax credit have been considered, U.S. corporations were able to credit almost 84 percent of their available foreign taxes. This is a slight increase over recent tax years and is considerably higher than in 1978 and 1982 when carryforward amounts were much more significant.

Figure D

U.S. Corporation Returns with a Foreign Tax Credit: The Significance of Current-Year Foreign Taxes, Current-Year Reduction in Taxes, Carryforward Taxes, and the Limitation Provisions of the Foreign Tax Credit, Even Tax Years 1978-1996

[Money amounts are in millions of dollars]

Current- Reduction of Creditable

Tax year year certain current-

foreign current-year year foreign

taxes(1) foreign taxes(2)

taxes

(1) (2) (3)

1978 40,652 7,848 32,804

1980 29,996 4,098 25,898

1982 22,795 2,085 20,710

1984 23,328 1,597 21,731

1986 23,102 1,060 22,042

1988 29,427 1,704 27,723

1990 27,514 1,163 26,351

1992 22,574 1,264 21,310

1994 26,470 1,319 25,151

1996 41,177 1,772 39,405

Carryforward Total taxes

Tax year of foreign available

taxes from for credit(4)

prior years

(4) (5)

1978 19,260 52,064

1980 4,211 30,109

1982 17,470 38,181

1984 5,277 27,008

1986 5,364 27,408

1988 3,933 31,656

1990 4,409 30,761

1992 7,157 28,468

1994 7,361 32,511

1996 8,680 48,085

Foreign tax credit

As a

Tax year percentage of

Amount taxes

available

for credit

(6) (7)

1978 26,358 50.6

1980 24,880 82.6

1982 18,932 49.6

1984 21,420 79.3

1986 22,261 81.2

1988 27,110 85.6

1990 24,987 81.2

1992 21,533 75.6

1994 25,419 78.2

1996 40,255 83.7

(1) For 1996, current-year foreign taxes are reported as “foreign taxes paid, accrued, and deemed paid,” in Table 1, column 43, at the end of this article.

(2) Current-year foreign taxes (column 1) minus reduction of certain current-year foreign taxes (column 2).

(3) Creditable current-year foreign taxes (column 3) plus carryforward of foreign taxes from prior years (column 4).

Industry Composition

Figure E, which shows the number of returns, foreign-source taxable income, current-year foreign taxes, and foreign tax credit claimed by selected industry group for 1996, provides a summary of foreign income and taxes by the U.S. corporation’s industrial classification. Similar to recent years, manufacturing corporations remained the most significant industrial grouping. U.S. corporations involved in manufacturing received the most foreign-source taxable income, paid out the most in current-year foreign taxes, and claimed the greatest amount of foreign tax credit. U.S. manufacturers reported 66 percent of the total $151 billion in foreign source taxable income and over 71 percent of the total $41 billion in current-year foreign taxes. This allowed them to account for nearly 73 percent of the total foreign tax credit claimed. U.S. corporations classified in the petroleum (including integrated) and coal products continued to be the most significant specific industry, with nearly 19 percent of the total foreign tax credit claimed.

Figure E

Foreign-Source Taxable Income, Current-Year Foreign Taxes, and Foreign Tax Credit, by Selected Industrial Group, Tax Year 1996, and Selected Industry Shares of Total Foreign Tax Credit Claimed, Selected Tax Years

[Money amounts are in millions of dollars]

1996

Foreign-

source

taxable-

Selected industrial group Number of income

returns (less loss

(1) (2)

All Industries 6,100 150,826

Agriculture, forestry, and fishing 187 294

Mining 123 3,076

Construction 155 606

Manufacturing 1,742 99,657

Food and kindred products 95 7,132

Petroleum (including

integrated) and coal products 27 22,500

Electrical and electronic

equipment 318 9,930

Motor vehicles and equipment 37 8,517

Transportation and public

utilities 157 3,967

Wholesale and retail trade 995 5,023

Finance, insurance, and

real estate 1,649 30,291

Banking 84 13,294

Insurance 255 8,956

Services 1,091 7,912

1996

Current-

year Foreign

Selected industrial group foreign tax

taxes credit

(3) (4)

All Industries 41,177 40,255

Agriculture, forestry, and fishing 93 81

Mining 1,374 931

Construction 200 196

Manufacturing 29,422 29,191

Food and kindred products 2,241 2,301

Petroleum (including

integrated) and coal products 8,516 7,636

Electrical and electronic

equipment 2,278 2,236

Motor vehicles and equipment 2,300 2,281

Transportation and public

utilities 441 432

Wholesale and retail trade 1,383 1,288

Finance, insurance, and

real estate 6,363 6,253

Banking 2,750 2,687

Insurance 1,457 1,444

Services 1.902 1,883

Industry’s share of

foreign tax credit(1)

Selected industrial group 1996 1990(2)

(5) (6)

All Industries 100.0 100.0

Agriculture, forestry, and fishing 0.2 0.1

Mining 2.3 3.2

Construction 0.5 0.4

Manufacturing 72.5 83.1

Food and kindred products 5.7 3.7

Petroleum (including

integrated) and coal products 19.0 21.5

Electrical and electronic

equipment 5.6 4.8

Motor vehicles and equipment 5.7 6.9

Transportation and public

utilities 1.1 0.6

Wholesale and retail trade 3.2 3.7

Finance, insurance, and

real estate 15.5 6.6

Banking 6.7 2.1

Insurance 3.6 2.5

Services 4.7 2.4

Industry’s

share of

foreign tax

credit(1)

Selected industrial group 1978(3)

(7)

All Industries 100.0

Agriculture, forestry, and fishing 0.0

Mining 47.5

Construction 0.4

Manufacturing 44.2

Food and kindred products 2.0

Petroleum (including

integrated) and coal products 17.7

Electrical and electronic

equipment 2.8

Motor vehicles and equipment 3.9

Transportation and public

utilities 0.8

Wholesale and retail trade 2.3

Finance, insurance, and

real estate 4.2

Banking 2.9

Insurance 0.8

Services 0.5

(1) Equals each industry’s foreign tax credit divided by the total foreign tax credit claimed for all industries.

(2) Actual foreign tax credit amounts for 1990 are not included in this figure.

(3) Actual foreign tax credit amounts for 1978 are not included in this figure.

Figure E also shows that the finance, insurance, and real estate (FIRE) corporations are second behind those in manufacturing, with 20 percent of the foreign-source taxable income and nearly 15 percent of the total current-year taxes. Figure E also shows each industrial grouping’s foreign tax credit as a percentage of the total foreign tax credit claimed for 1996, 1990, and 1978. Tax Year 1990 was included to provide a recent comparison, while 1978 was included as to demonstrate how much the foreign tax credit has changed in almost 20 years.

Several trends emerge when examining each industry’s share of foreign tax credit historically. First, the manufacturing corporations may still produce most of the foreign tax credit, but corporations involved in finance, insurance, and real estate are quickly becoming more significant. Finance, insurance, and real estate corporations’ share of the foreign tax credit has grown from only 4 percent for 1978 to nearly 16 percent for 1996. In actuality, most of the increase happened between 1990 and 1996, as the industry’s share of the total foreign tax credit claimed more than doubled in these 6 years.

Using the foreign tax credit as a measurement also understates the growing importance of finance, insurance, and real estate corporations since income in those industries is usually taxed at a much lower rate than manufacturing income and, thus, would generate lower amounts of creditable foreign taxes. The growth in foreign-source taxable income has been even more impressive. While total foreign-source taxable income increased by 25 percent from 1995 to 1996, foreign-source taxable income for manufacturing corporations increased only 21 percent. Corporations involved in finance, insurance, and real estate, however, reported 35 percent more foreign-source income in 1996 than in 1995.

A more distinct change in the historical foreign tax credit shares shown in Figure E is that mining corporations, which accounted for almost half of the foreign tax in 1978, dropped to only 2 percent of the credit for 1996. Changes in the oil and gas extraction industry account for nearly all of this reduction in importance. U.S. corporations engaged in foreign oil and gas extraction faced dramatically different tax and political conditions in the mid 1990′ s than during the late 1970′ s. Corporations were less likely in 1996 to receive oil and gas extraction income from members of the Organization of Petroleum Exporting Countries (OPEC) due to the discovery of oil in the North Sea, and corporations generally paid lower foreign taxes on their oil and gas extraction income for 1996 than in the late 1970′ s. Another reason behind the drastic drop in mining’ s importance is that oil and gas extraction income is now more likely to be reported by manufacturing corporations, specifically those producing petroleum (including integrated) and coal products. This will be discussed below.

Oil and Gas Extraction Income

Oil and gas extraction income, deductions, and taxes are reported separately by U.S. corporations claiming a foreign tax credit related to that income [8]. Under Internal Revenue Code section 907, separate rules related to oil and gas extraction income affect the amount of foreign taxes available for corporations to credit. The provisions of Internal Revenue Code section 907 disallow certain foreign taxes and provide another limitation calculation specifically for foreign oil and gas extraction income (FOGEI). Foreign taxes are excluded from the foreign tax credit calculation if they were paid, accrued, or deemed paid at a rate in excess of the applicable U.S. tax rate. Taxes can also be excluded because they were not, in effect, income taxes, but rather royalty payments. Under the foreign tax credit provisions, only income taxes, as viewed through U.S. tax principles, are creditable. This excludes voluntary payments and payments for specific rights or services (such as the right to extract a natural resource).

Figure F shows gross income from foreign oil and gas extraction by both selected industry groups and selected countries for 1996. As mentioned above, most FOGEI is now reported by U.S. corporations classified as manufacturers of petroleum (including integrated) and coal products. For 1996, the oil and gas extraction industry accounted for less than 9 percent of the total oil and gas extraction related gross income reported. Figure F also lists the countries generating the greatest amounts of gross income associated with foreign oil and gas extraction for 1996. As for both 1994 and 1995, corporations reported the most gross income from the United Kingdom and Indonesia. Seven countries (the United Kingdom, Indonesia, Canada, the Netherlands, Australia, Norway, and Nigeria) together accounted for 66 percent of all gross income from foreign oil and gas extraction activities.

Figure F

U.S. Corporation Returns with a Foreign Tax Credit: Foreign Oil and Gas Extraction Gross Income by Selected Industrial Group and Selected Country, Tax Year 1996

[Money amounts are in millions of dollars]

Gross

Selected industrial group, country income (less Percent of

loss) total

Selected industrial group:

All Industries 22,074 100.0

Petroleum (including integrated) and

coal products manufacturing 18,006 81.6

Oil and gas extraction 1,883 8.5

Industrial plastics and synthetic

materials manufacturing (*)1.456 (*)6.6

All other industries 729 3.3

Selected country:

All countries 22,074 100.0

United Kingdom 3,749 17.0

Indonesia 2,128 96.0

Canada 2,018 9.1

Netherlands 1,828 83.0

Australia (*)1,749 (*)7.9

Norway (*)1,603 (*)7.3

Nigeria (*)1,526 (*)6.9

Malaysia (*)767 (*)3.5

Colombia (*)651 (*)2.9

Chile (*)576 (*)2.6

Saudi Arabia (*)560 (*)2.5

Thailand (*)507 (*)2.3

All other countries 12,351 56.0

Geographic Focus

As in past years, a considerable portion of the foreign-source income came from a small number of countries. Figure G shows the most significant countries’ shares of total foreign-source taxable income for 1996. The United Kingdom, Canada, Japan, Germany, and the Netherlands accounted for 44 percent of the foreign-source taxable income reported for U.S. corporations with foreign tax credits for 1996. The importance of these five countries is not surprising since their share totaled 43 percent for 1995, approximately 38 percent for 1994, and 41 percent for 1993. With three members among the top five in generating foreign-source taxable income, Europe, and more specifically the European Economic Community, was the most significant geographic region. Figure H shows foreign-source taxable income, current-year foreign taxes paid or accrued, and current-year tax deemed paid for selected geographic regions and Canada. U.S. corporations are extremely active within European Economic Community countries since the 12 members of that organization accounted for almost twice as much foreign-source taxable income as the next largest region, Asia.

[Figures G-H ILLUSTRATION OMITTED]

Regional differences in taxes are clearer when examining the two components of current-year foreign taxes, current-year foreign taxes paid or accrued, and current-year tax deemed paid. U.S. corporations reported 37 percent of their current-year foreign taxes paid or accrued and deemed paid going to European Economic Community members for 1996. Nearly 80 percent, or $12 billion, of the $15 billion collected by European Economic Community members was tax deemed paid. This represents a 45-percent share of total tax deemed paid by all U.S. corporations claiming a foreign tax credit for 1996. Asian countries, despite collecting less in combined taxes, received more current-year foreign taxes paid or accrued than European Economic Community members–collecting 33 percent of the total versus only 21 percent of the total being paid to European Economic Community members. Asian countries also generated over 20 percent of the current-year tax deemed paid.

Figure I shows foreign gross income, both in total and by selected types for the major geographic regions discussed in this article. The distribution of income types follows the distribution of taxes deemed paid. Corporations received over 41 percent of their dividend income from the European Economic Community, but only 15 percent from Asian countries. Corporations continue to receive the greatest amount of dividend income from European Economic Community members, while income from the next largest region, Asia, is more likely to be of another type. For example, corporations reported only 21 percent (or $29 billion of $140 billion) in combined gross service and other income from members of the European Economic Community versus 27 percent from Asian countries.

Figure I

U.S. Corporation Returns with a Foreign Tax Credit: Foreign-Source Gross Income, by Type and Selected Regions, Tax Year 1996

[Money amounts are in millions of dollars]

Gross income

(less loss)

Selected regions and countries Total Dividends

(1) (2)

All countries 331,079 62,622

Canada 26,879 6,142

Latin America 35,629 5,826

Other Western Hemisphere 5,193 2,106

Europe, total 126,491 31,158

European Economic Community,

total 106,005 26,028

Other Europe 20,486 5,130

Africa 5,679 1,048

Asia 74,982 9,357

Oceania 11,234 2,352

All other countries 44,992 4,632

Gross income

(less loss)

Foreign dividend

income resulting

Selected regions and countries from foreign Interest

taxes deemed

paid (gross-up)

(3) (4)

All countries 26,715 56,197

Canada 3,721 3,705

Latin America 1,737 10,192

Other Western Hemisphere 178 1,909

Europe, total 14,040 21,796

European Economic Community,

total 12,134 19,942

Other Europe 1,906 1,854

Africa 497 296

Asia 5,343 9,113

Oceania 1,018 1,188

All other countries 181 7,998

Gross income

(less loss)

Selected regions and countries Rents, royalties, Service income

and license fees

(5) (6)

All countries 45,127 28,837

Canada 3,042 1,084

Latin America 3,135 1,837

Other Western Hemisphere 47 74

Europe, total 21,153 6,300

European Economic Community,

total 18,536 4,195

Other Europe 2,617 2,105

Africa 328 804

Asia 13,329 12,350

Oceania 1,201 407

All other countries 2,892 5,681

Gross income

(less loss)

Selected regions and countries Other income

(7)

All countries 111,880

Canada 9,185

Latin America 12,902

Other Western Hemisphere 878

Europe, total 32,044

European Economic Community,

total 25,170

Other Europe 6,874

Africa 2,706

Asia 25,490

Oceania 5,067

All other countries 23,609

Summary

Worldwide taxable income, foreign-source taxable income, and current-year foreign taxes paid, accrued, or deemed paid all continued their recent upward trends for 1996. This allowed U.S. corporations to claim a record high foreign tax credit of $40.3 billion for 1996 as income and taxes increased across the board. Reductions in creditable taxes and the inclusion of prior-year taxes continue to play stable and minor roles in determining the amount of foreign tax credit claimed. As in prior years, the United Kingdom, Canada, and Japan continued to generate the most foreign-source taxable income. One recent change, though, has been in the industries of the corporations earning foreign-source income and claiming foreign tax credits. Finance, insurance, and real estate corporations have been rapidly increasing their share of foreign income and foreign tax credit since 1990. U.S. corporations with foreign tax credits can no longer be characterized as being manufacturers involved in foreign oil and gas extraction or in the foreign production of goods. Banking and services are gradually becoming more significant abroad and claiming an increasing amount of the foreign tax credit.

Data Sources and Limitations

The statistics in this article were derived from corporation income tax returns with a foreign tax credit that were included in the 1996 Statistics of Income sample. To be included in the sample, returns had to have accounting periods ending between July 1996 and June 1997. The 1996 corporation income tax return sample included 94,172 returns chosen from the 4,968,336 returns filed for Tax Year 1996. These returns were selected after administrative processing, but before any audit examination. Because some of the returns with a foreign tax credit that were sampled at the 100-percent rate were received too late to be included in the regular corporate statistics (although estimates for these returns were included), there are slight differences between the more complete statistics on the foreign tax credit presented in this article and those published in Statistics of Income–1996, Corporation Income Tax Returns [9].

The foreign tax credit is claimed under section 901 of the Internal Revenue Code. Corporations report the foreign income and taxes related to the credit on Form 1118, Computation of Foreign Tax Credit–Corporations, filed with their corporate income tax returns. The statistics in this article are based on information reported on Forms 1118 and related corporate returns. Corporations with “alternative minimum tax” (AMT) had to compute a separate “alternative minimum tax foreign tax credit.” Data on this computation are not reflected in the statistics presented in this article, even if the corporation reported both the regular and AMT computations, and even if the corporation reported only the AMT computation (because it had AMT but no regular tax). Some corporations reported preliminary data on their tax returns because complete information on their overseas operations was not available on their returns as originally filed, and amended returns were not used for these statistics. However, when necessary, additional information was obtained directly from the taxpayer.

Foreign income and taxes are understated in this article to the extent that they either were not or did not have to be reported on Form 1118. Some corporations did not file this form because they had no U.S. income tax to report and consequently were unable to claim the foreign tax credit for 1996 (any “unused credits” could, however, be carried forward or back for use in other years). Others may have chosen to deduct their foreign taxes from their gross incomes instead of taking the credit.

Because the estimates are based on a sample, they are subject to sampling error. Coefficients of variation (CV’s) are used to measure the magnitude of this sampling error. The CV is defined in the section sampling variability in the “SOI Sampling Methodology and Data Limitations” appendix of this publication. Figure J presents CV’s for foreign tax credits by selected industrial groups. The smaller the CV, the more reliable the estimate is judged to be.

Figure J

Coefficients of Variation for Foreign Tax Credit, by Selected Industrial Group, Tax Year 1996

Coefficients of

variation for

foreign

Selected industrial group tax credit

(percentages)

0.04

All Industries

Agriculture, forestry, and fishing 0.21

Mining 0.72

Construction 1.31

Manufacturing 0.03

Food and kindred products 0.19

Petroleum (including integrated) and

coal products 0.04

Electrical and electronic equipment 0.07

Motor vehicles and equipment 0.01

Transportation and public utilities 0.84

Wholesale and retail trade 0.35

Finance, insurance, and real estate 0.10

Banking (1)

Insurance 0.05

Services 0.28

(1) Less than .005 percent.

Tables 1-3

Table 1, columns 2 through 15, presents statistics on assets, receipts, income, and taxes reported on Form 1120, Corporation Income Tax Return, for those corporations claiming a foreign tax credit. Columns 16 through 52 present statistics from Form 1118, Foreign Tax Credit–Corporations. Schedule references indicate the parts of Form 1118 from which the data were obtained. Columns 16 through 36 present statistics on foreign income (i.e., income from sources outside the United States) and deductions, reported primarily on Form 1118, Schedule A, Income of Loss Before Adjustments.

Table 1. U.S. Corporation Returns with a Foreign Tax Credit: Total Assets, Income, Tax, and Credits, and Foreign Income and Tax Reported on Form 1118, by Selected Industrial Group

[All figures are estimates based on samples–money amounts are in thousands of dollar]

Major and selected minor Number of Total

industrial group returns assets

(1) (2)

All industries 6,100 12,076,910,437

Agriculture, forestry, and

fishing 187 3,986,354

Mining 123 70,135,566

Metal mining 11 (*)10,498,866

Coal mining (*)27,651,046

Oil and gas extraction 96 27,528,239

Nonmetallic minerals, except

fuels 10 (*)4,457,415

Construction 155 20,203,417

General building contractors 54 5,064,097

Heavy construction

contractors 36 13,875,663

Special trade contractors 65 1,243,657

Manufacturing 1,742 3,390,528,534

Food and kindred products 95 172,795,718

Tobacco manufactures 5 (*)86,223,180

Textile mill products 64 6,044,459

Apparel and other textile

products 24 18,378,580

Lumber and wood products 16 27,360,413

Furniture and fixtures 14 8,844,019

Paper and allied products 43 97,879,553

Printing and publishing 107 126,594,986

Industrial plastics and

synthetic materials 105 256,043,217

Drugs 34 212,484,392

Other chemicals 83 79,003,625

Petroleum (including

integrated) and coal

products 27 593,011,372

Rubber and miscellaneous

plastics products 65 20,653,091

Leather and leather products 7 (*)1,678,485

Stone, clay, and glass

products 38 32,297,813

Primary metal industries 44 50,950,447

Fabricated metal products 169 49,867,632

Office, computing, and

accounting machinery 23 80,849,854

Other machinery, except

electrical 207 94,884,940

Electrical and electronic

equipment 318 500,798,004

Motor vehicles and equipment 35 621,747,361

Transportation equipment,

except motor vehicles 36 109,582,357

Instruments and related

products 101 116,407,416

Miscellaneous manufacturing

and manufacturing not

allocable 81 26,147,619

Transportation and public

utilities 157 616,935,410

Transportation 84 113,305,024

Water transportation 36 7,352,998

All other transportation 48 105,952,026

Communication 23 265,108,347

Electric, gas, and sanitary

services 50 138,522,040

Wholesale and retail trade 995 544,888,538

Wholesale trade 755 353,648,903

Groceries and related

products 6 (*)8,389,506

Machinery, equipment, and

supplies 75 6,478,619

Miscellaneous wholesale

trade 674 338,780,778

Drugs, chemicals, and

allied products 24 5,830,595

Petroleum and

petroleum products 4 (*)192,706,990

Other miscellaneous

wholesale trade 646 140,243,193

Retail trade 240 191,239,636

Building materials,

garden supplies, and

mobile home dealers 5 (*)9,440,833

General merchandise

stores 6 (*)85,106,831

Food stores 8 (*)5,404,148

Automotive dealers and

service stations 6 (*)1,194,626

Apparel and accessory

stores 17 23,205,635

Furniture and home

furnishing stores 4 (*)1,017,407

Eating and drinking

places 22 33,291,816

All other retail stores 173 32,578,340

Finance, Insurance, and real

estate 1,649 7,272,074,766

Banking 84 3,031,085,997

Credit agencies other than

banks 31 493,018,726

Security, commodity brokers,

and services 107 1,003,884,817

Insurance 255 2,642,147,262

Insurance agents, brokers,

and service 18 23,731,678

Real estate 431 7,115,207

Holding and other investment

companies, except bank

holding companies 723 31,091,079

Services 1,091 258,157,853

Hotels and other lodging

places 29 28,507,814

Personal services 17 10,415,480

Business services 278 126,829,219

Auto repair; miscellaneous

repair services 10 (*)3,359,145

Amusement and recreation

services 60 59,945,157

All other services 697 29,101,037

Dividends

received

Major and selected minor Total from

industrial group receipts foreign

corporations

(3) (4)

All industries 4,886,362,144 34,745,162

Agriculture, forestry, and

fishing 3,938,403 (*)85,125

Mining 29,589,446 249,026

Metal mining 4,843,868 (*)83,923

Coal mining (*)5,399,637 (*)6,696

Oil and gas extraction 15,622,804 150,948

Nonmetallic minerals, except

fuels (*)3,723,137 (*)7,459

Construction 26,264,101 181,874

General building contractors 14,320,783 (*)31,677

Heavy construction

contractors 9,671,301 (*)138,834

Special trade contractors 2,272,017 (*)11,363

Manufacturing 2,565,324,302 28,316,193

Food and kindred products 163,162,663 3,227,584

Tobacco manufactures (*)54,927,343 (*)1,048,899

Textile mill products 8,122,268 (*)23,449

Apparel and other textile

products 17,672,251 (*)239,257

Lumber and wood products 16,437,408 (*)9,713

Furniture and fixtures 8,628,921 (*)44,789

Paper and allied products 65,516,508 1,154,857

Printing and publishing 69,822,749 315,633

Industrial plastics and

synthetic materials 153,496,243 1,622,522

Drugs 129,795,591 2,425,934

Other chemicals 95,661,077 1,124,068

Petroleum (including

integrated) and coal

products 468,196,628 6,910,149

Rubber and miscellaneous

plastics products 25,280,451 216,849

Leather and leather products (*)2,339,128 (*)1,280

Stone, clay, and glass

products 27,343,867 380,814

Primary metal industries 50,005,736 711,585

Fabricated metal products 49,616,281 495,897

Office, computing, and

accounting machinery 97,741,909 2,471,278

Other machinery, except

electrical 91,969,833 509,875

Electrical and electronic

equipment 307,454,411 1,918,092

Motor vehicles and equipment 411,073,820 1,712,943

Transportation equipment,

except motor vehicles 119,362,290 374,555

Instruments and related

products 105,583,245 1,180,578

Miscellaneous manufacturing

and manufacturing not

allocable 26,113,682 195,594

Transportation and public

utilities 321,987,121 175,581

Transportation 102,670,810 64,053

Water transportation 6,877,286 (*)3,613

All other transportation 95,793,524 60,441

Communication 160,627,629 48,909

Electric, gas, and sanitary

services 58,688,682 62,619

Wholesale and retail trade 613,420,729 947,275

Wholesale trade 293,484,783 422,771

Groceries and related

products (*)22,165,737 (*)1,494

Machinery, equipment, and

supplies 8,775,212 22,811

Miscellaneous wholesale

trade 262,543,835 398,466

Drugs, chemicals, and

allied products 21,155,870 (*)18,358

Petroleum and

petroleum products (*)25,719,614 (*)81,427

Other miscellaneous

wholesale trade 215,668,350 298,682

Retail trade 319,935,946 524,504

Building materials,

garden supplies, and

mobile home dealers (*)19,536,124 (*)11

General merchandise

stores (*)180,348,892 (*)7,742

Food stores (*)10,863,479 (*)15

Automotive dealers and

service stations (*)1,677,539 (*)175

Apparel and accessory

stores 33,978,115 (*)33,321

Furniture and home

furnishing stores (*)1,964,593 —

Eating and drinking

places 26,170,428 (*)413,663

All other retail stores 45,396,777 (*)69,577

Finance, Insurance, and real

estate 1,131,576,397 3,454,705

Banking 261,352,367 408,325

Credit agencies other than

banks 70,397,162 81,569

Security, commodity brokers,

and services 88,174,475 1,225,609

Insurance 692,490,983 617,708

Insurance agents, brokers,

and service 8,820,142 (*)170,369

Real estate 2,869,978 15,172

Holding and other investment

companies, except bank

holding companies 7,471,290 935,954

Services 194,261,646 1,335,383

Hotels and other lodging

places 30,725,094 (*)72,232

Personal services 8,447,046 (*)46,982

Business services 87,107,914 893,056

Auto repair; miscellaneous

repair services (*)2,965,374 (*)1,471

Amusement and recreation

services 31,173,207 (*)71,935

All other services 33,843,011 249,708

Includable

Dividends income of

Major and selected minor received from Controlled

industrial group (IC-DISC’s Foreign

former Corporations

DISC’s(1)

(5) (6)

All industries 15,758 25,203,555

Agriculture, forestry, and

fishing — (*)28,188

Mining — 118,426

Metal mining — (*)10,501

Coal mining — (*)7,655

Oil and gas extraction — 100,269

Nonmetallic minerals, except

fuels — —

Construction (*)380 (*)92,195

General building contractors — (*)24,520

Heavy construction

contractors — (*)67,674

Special trade contractors (*)380 —

Manufacturing 9,636 16,174,662

Food and kindred products (*)460 1,072,940

Tobacco manufactures — (*)1,250,457

Textile mill products — (*)17,602

Apparel and other textile

products — (*)22,733

Lumber and wood products — (*)10,339

Furniture and fixtures — (*)9,305

Paper and allied products — 217,992

Printing and publishing (*)20 161,746

Industrial plastics and

synthetic materials (*)834 1,202,556

Drugs (*)1,150 2,848,811

Other chemicals — 462,444

Petroleum (including

integrated) and coal

products — 1,698,616

Rubber and miscellaneous

plastics products (*)8 37,027

Leather and leather products — —

Stone, clay, and glass

products — (*)73,287

Primary metal industries (*)3,597 (*)123,284

Fabricated metal products (*)1,246 202,538

Office, computing, and

accounting machinery — 740,811

Other machinery, except

electrical (*)427 481,100

Electrical and electronic

equipment (*)716 1,786,024

Motor vehicles and equipment — 2,120,176

Transportation equipment,

except motor vehicles — 390,966

Instruments and related

products — 951,315

Miscellaneous manufacturing

and manufacturing not

allocable (*)1,178 292,593

Transportation and public

utilities — 609,667

Transportation — 138,172

Water transportation — (*)38,326

All other transportation — 99,846

Communication — (*)350,495

Electric, gas, and sanitary

services — 121,000

Wholesale and retail trade (*)5,243 888,781

Wholesale trade (*)5,243 587,625

Groceries and related

products — —

Machinery, equipment, and

supplies — (*)2,672

Miscellaneous wholesale

trade (*)5,243 584,953

Drugs, chemicals, and

allied products (*)61 (*)2,918

Petroleum and

petroleum products — (*)121,390

Other miscellaneous

wholesale trade (*)5,183 460,645

Retail trade — 301,157

Building materials,

garden supplies, and

mobile home dealers — (*)594

General merchandise

stores — (*)193,309

Food stores — —

Automotive dealers and

service stations — —

Apparel and accessory

stores — (*)61,631

Furniture and home

furnishing stores — —

Eating and drinking

places — (*)15,879

All other retail stores — (*)29,743

Finance, Insurance, and real

estate — 6,601,802

Banking — 2,977,379

Credit agencies other than

banks — (*)401,087

Security, commodity brokers,

and services — 938,112

Insurance — 1,711,892

Insurance agents, brokers,

and service — (*)125,550

Real estate — (*)11,207

Holding and other investment

companies, except bank

holding companies — 436,574

Services (*)499 689,833

Hotels and other lodging

places — (*)74,067

Personal services — (*)28,011

Business services (*)499 480,761

Auto repair; miscellaneous

repair services — —

Amusement and recreation

services — (*)45,997

All other services — 60,997

Foreign

dividend

income

Major and selected minor resulting from Net income

industrial group foreign taxes (less

deemed paid deficit)

(gross-up)

(7) (8)

All industries 26,764,932 391,100,714

Agriculture, forestry, and

fishing (*)80,081 680,212

Mining 130,460 4,452,394

Metal mining (*)30,662 635,813

Coal mining (*)1,251 (*)842,400

Oil and gas extraction 95,641 2,613,100

Nonmetallic minerals, except

fuels (*)2,905 (*)361,080

Construction 127,775 1,348,237

General building contractors (*)20,013 375,116

Heavy construction

contractors (*)99,547 873,049

Special trade contractors (*)8,214 100,072

Manufacturing 20,783,489 213,337,655

Food and kindred products 1,745,691 12,781,203

Tobacco manufactures (*)1,014,499 (*)9,857,629

Textile mill products 14,855 490,210

Apparel and other textile

products (*)140,998 1,759,199

Lumber and wood products (*)8,187 544,941

Furniture and fixtures (*)23,757 793,308

Paper and allied products 837,452 5,787,527

Printing and publishing 276,047 8,679,501

Industrial plastics and

synthetic materials 1,242,996 13,675,117

Drugs 2,324,771 15,854,094

Other chemicals 735,021 8,238,233

Petroleum (including

integrated) and coal

products 4,159,021 38,278,292

Rubber and miscellaneous

plastics products 127,026 1,645,341

Leather and leather products (*)777 (*)112,636

Stone, clay, and glass

products 236,348 2,495,451

Primary metal industries 455,481 3,679,476

Fabricated metal products 406,413 5,318,245

Office, computing, and

accounting machinery 1,392,216 12,413,193

Other machinery, except

electrical 434,820 8,024,338

Electrical and electronic

equipment 1,705,414 27,451,645

Motor vehicles and equipment 1,916,843 14,972,829

Transportation equipment,

except motor vehicles 291,064 8,202,868

Instruments and related

products 1,106,230 9,853,010

Miscellaneous manufacturing

and manufacturing not

allocable 187,562 2,419,369

Transportation and public

utilities 230,766 26,305,805

Transportation 69,428 5,802,727

Water transportation (*)10,285 334,182

All other transportation 59,143 5,468,545

Communication (*)101,808 14,353,078

Electric, gas, and sanitary

services 59,520 6,150,000

Wholesale and retail trade 936,163 25,699,680

Wholesale trade 390,499 9,938,571

Groceries and related

products (*)756 (*)213,347

Machinery, equipment, and

supplies 10,270 542,975

Miscellaneous wholesale

trade 379,473 9,182,249

Drugs, chemicals, and

allied products (*)6,315 403,038

Petroleum and

petroleum products (*)95,080 (*)1,753,415

Other miscellaneous

wholesale trade 278,079 7,025,796

Retail trade 545,664 15,761,110

Building materials,

garden supplies, and

mobile home dealers — (*)1,330,791

General merchandise

stores (*)142,461 (*)7,117,877

Food stores — (*)320,687

Automotive dealers and

service stations — (*)107,440

Apparel and accessory

stores (*)7,710 2,189,769

Furniture and home

furnishing stores — (*)124,485

Eating and drinking

places (*)365,760 2,884,827

All other retail stores (*)29,733 1,685,234

Finance, Insurance, and real

estate 3,297,452 101,154,734

Banking 1,088,781 32,804,938

Credit agencies other than

banks (*)116,604 4,636,799

Security, commodity brokers,

and services 806,004 10,795,967

Insurance 594,978 45,507,616

Insurance agents, brokers,

and service (*)102,806 1,821,769

Real estate (*)11,077 731,889

Holding and other investment

companies, except bank

holding companies 577,201 4,855,756

Services 1,178,758 18,121,998

Hotels and other lodging

places (*)35,610 1,151,399

Personal services (*)24,913 599,706

Business services 924,229 11,733,776

Auto repair; miscellaneous

repair services (*)467 (*)-94,387

Amusement and recreation

services (*)66,704 2,680,302

All other services 126,834 2,051,200

U.S. income

tax before

Income credits

Major and selected minor subject to

industrial group U.S. tax Total

(9) (10)

All industries 370,048,864 (*)130,747,810

Agriculture, forestry, and

fishing 657,508 229,396

Mining 4,030,146 1,460,819

Metal mining 625,353 233,303

Coal mining (*)835,759 (*)293,501

Oil and gas extraction 2,211,304 808,541

Nonmetallic minerals, except

fuels (*)357,730 (*)125,374

Construction 1,313,314 459,288

General building contractors 358,907 125,474

Heavy construction

contractors 859,130 301,124

Special trade contractors 95,278 32,689

Manufacturing 202,000,257 71,731,545

Food and kindred products 12,335,675 4,333,766

Tobacco manufactures (*)9,534,374 (*)3,337,002

Textile mill products 472,390 165,215

Apparel and other textile

products 1,723,029 603,294

Lumber and wood products 530,077 185,554

Furniture and fixtures 747,678 263,816

Paper and allied products 5,582,499 1,958,508

Printing and publishing 8,458,708 2,972,013

Industrial plastics and

synthetic materials 12,599,511 4,417,020

Drugs 15,228,524 5,455,593

Other chemicals 8,042,197 2,816,723

Petroleum (including

integrated) and coal

products 36,262,320 12,744,434

Rubber and miscellaneous

plastics products 1,600,693 561,201

Leather and leather products (*)104,040 (*)36,247

Stone, clay, and glass

products 2,069,929 730,327

Primary metal industries 3,471,108 1,235,649

Fabricated metal products 5,048,132 1,770,115

Office, computing, and

accounting machinery 11,950,084 4,305,029

Other machinery, except

electrical 7,406,584 2,599,847

Electrical and electronic

equipment 25,421,814 9,101,229

Motor vehicles and equipment 14,300,965 5,438,789

Transportation equipment,

except motor vehicles 7,749,657 2,716,720

Instruments and related

products 9,104,554 3,190,088

Miscellaneous manufacturing

and manufacturing not

allocable 2,255,715 793,366

Transportation and public

utilities 25,338,485 8,861,465

Transportation 5,559,153 1,954,084

Water transportation 325,603 115,111

All other transportation 5,233,549 1,838,973

Communication 13,768,631 4,798,599

Electric, gas, and sanitary

services 6,010,702 2,108,781

Wholesale and retail trade 25,132,802 8,845,678

Wholesale trade 9,548,901 3,381,551

Groceries and related

products (*)212,980 (*)74,535

Machinery, equipment, and

supplies 512,441 176,942

Miscellaneous wholesale

trade 8,823,480 3,130,073

Drugs, chemicals, and

allied products 381,158 133,584

Petroleum and

petroleum products (*)1,740,730 (*)609,168

Other miscellaneous

wholesale trade 6,701,592 2,387,321

Retail trade 15,583,901 5,464,127

Building materials,

garden supplies, and

mobile home dealers (*)1,327,329 (*)464,453

General merchandise

stores (*)7,086,351 (*)2,480,470

Food stores (*)316,855 (*)113,530

Automotive dealers and

service stations (*)82,290 (*)28,581

Apparel and accessory

stores 2,187,733 771,119

Furniture and home

furnishing stores (*)124,212 (*)43,361

Eating and drinking

places 2,859,381 1,003,765

All other retail stores 1,599,750 558,847

Finance, Insurance, and real

estate 94,341,374 33,114,402

Banking 31,611,628 11,045,447

Credit agencies other than

banks 4,367,765 1,532,888

Security, commodity brokers,

and services 10,470,119 3,678,087

Insurance 40,769,052 14,362,977

Insurance agents, brokers,

and service 1,781,142 623,262

Real estate 654,265 229,252

Holding and other investment

companies, except bank

holding companies 4,687,403 1,642,488

Services 17,234,978 6,045,217

Hotels and other lodging

places 1,112,658 392,824

Personal services 578,655 203,300

Business services 11,019,889 3,864,445

Auto repair; miscellaneous

repair services (*)69,377 (*)23,755

Amusement and recreation

services 2,504,881 878,534

All other services 1,949,518 682,358

U.S. income

tax before

credits

Major and selected minor Regular and Foreign tax

industrial group alternative credit

minimum claimed

tax

(11) (12)

All industries 130,712,014 40,254,937

Agriculture, forestry, and

fishing 228,845 80,739

Mining 1,460,456 931,324

Metal mining 233,303 162,363

Coal mining (*)293,501 (*)203,260

Oil and gas extraction 808,287 561,119

Nonmetallic minerals, except

fuels (*)125,366 (*)4,581

Construction 488,300 195,720

General building contractors 124,967 34,166

Heavy construction

contractors 300,644 152,389

Special trade contractors 32,689 9,166

Manufacturing 71,705,894 29,191,184

Food and kindred products 4,330,221 2,301,065

Tobacco manufactures (*)3,337,002 (*)1,188,810

Textile mill products 165,183 15,651

Apparel and other textile

products 602,469 170,776

Lumber and wood products 185,517 12,488

Furniture and fixtures 263,466 27,145

Paper and allied products 1,957,945 896,120

Printing and publishing 2,972,513 474,861

Industrial plastics and

synthetic materials 4,415,960 1,613,839

Drugs 5,455,16 2,623,653

Other chemicals 2,815,503 1,039,959

Petroleum (including

integrated) and coal

products 12,746,443 7,635,901

Rubber and miscellaneous

plastics products 561,070 192,971

Leather and leather products (*)36,214 (*)7,465

Stone, clay, and glass

products 735,683 230,819

Primary metal industries 1,235,268 513,719

Fabricated metal products 1,769,392 467,639

Office, computing, and

accounting machinery 4,302,938 2,689,773

Other machinery, except

electrical 2,596,613 600,236

Electrical and electronic

equipment 9,086,637 2,236,093

Motor vehicles and equipment 5,445,040 2,280,989

Transportation equipment,

except motor vehicles 2,713,435 406,840

Instruments and related

products 3,183,339 (*)1,349,451

Miscellaneous manufacturing

and manufacturing not

allocable 792,884 215,122

Transportation and public

utilities 8,865,190 432,002

Transportation 1,953,964 137,977

Water transportation 115,102 22,326

All other transportation 1,838,862 115,651

Communication 4,803,938 221,553

Electric, gas, and sanitary

services 2,107,288 72,472

Wholesale and retail trade 8,846,17 1,288,131

Wholesale trade 3,384,447 569,794

Groceries and related

products (*)74,503 (*)1,854

Machinery, equipment, and

supplies 178,360 13,361

Miscellaneous wholesale

trade 3,131,585 554,578

Drugs, chemicals, and

allied products 133,579 8,031

Petroleum and

petroleum products (*)609,168 (*)152,673

Other miscellaneous

wholesale trade 2,388,837 393,874

Retail trade 5,461,723 718,338

Building materials,

garden supplies, and

mobile home dealers (*)464,453 (*)1,605

General merchandise

stores (*)2,480,470 (*)144,663

Food stores (*)113,453 (*)15,063

Automotive dealers and

service stations (*)28,558 (*)98

Apparel and accessory

stores 771,063 17,291

Furniture and home

furnishing stores (*)43,361 (*)669

Eating and drinking

places 1,002,257 483,004

All other retail stores 558,108 55,944

Finance, Insurance, and real

estate 33,107,212 6,252,805

Banking 11,039,799 2,686,639

Credit agencies other than

banks 1,532,602 245,531

Security, commodity brokers,

and services 3,677,378 1,103,588

Insurance 14,366,305 1,444,193

Insurance agents, brokers,

and service 623,074 120,741

Real estate 225,899 10,711

Holding and other investment

companies, except bank

holding companies 1,642,155 641,403

Services 6,039,946 1,883,031

Hotels and other lodging

places 392,824 73,110

Personal services 203,078 31,857

Business services 3,863,289 1,400,354

Auto repair; miscellaneous

repair services (*)23,727 (*)608

Amusement and recreation

services 876,191 201,143

All other services 680,838 175,959

Major and selected minor U.S. General

industrial group possessions business

tax credit credit

(13) (14)

All industries 210,918 2,790,072

Agriculture, forestry, and

fishing — (*)2,529

Mining — 30,499

Metal mining — —

Coal mining — (*)29

Oil and gas extraction — (*)29,190

Nonmetallic minerals, except

fuels — (*)1,280

Construction — (*)1,486

General building contractors — (*)580

Heavy construction

contractors — (*)502

Special trade contractors — (*)403

Manufacturing 206,643 1,845,522

Food and kindred products (*)2,222 149,057

Tobacco manufactures — (*)19,619

Textile mill products — (*)457

Apparel and other textile

products (*)74 (*)1,682

Lumber and wood products — (*)1,110

Furniture and fixtures — (*)1,319

Paper and allied products (*)2,109 37,515

Printing and publishing (*)306 11,947

Industrial plastics and

synthetic materials — 41,652

Drugs (*)196,344 194,954

Other chemicals (*)1,548 41,387

Petroleum (including

integrated) and coal

products — 238,307

Rubber and miscellaneous

plastics products — 6,171

Leather and leather products — (*)313

Stone, clay, and glass

products — (*)3,803

Primary metal industries — 8,380

Fabricated metal products (*)1 13,265

Office, computing, and

accounting machinery — 54,773

Other machinery, except

electrical — 72,338

Electrical and electronic

equipment (*)3,902 218,703

Motor vehicles and equipment — 578,663

Transportation equipment,

except motor vehicles — 67,496

Instruments and related

products (*)37 63,459

Miscellaneous manufacturing

and manufacturing not

allocable — 19,150

Transportation and public

utilities — 166,484

Transportation — 26,613

Water transportation — (*)581

All other transportation — 26,032

Communication — (*)93,615

Electric, gas, and sanitary

services — 46,226

Wholesale and retail trade — 69,547

Wholesale trade — 17,403

Groceries and related

products — —

Machinery, equipment, and

supplies — (*)953

Miscellaneous wholesale

trade — 16,450

Drugs, chemicals, and

allied products — (*)5,036

Petroleum and

petroleum products — (*)5,333

Other miscellaneous

wholesale trade — 6,081

Retail trade — 52,145

Building materials,

garden supplies, and

mobile home dealers — (*)199

General merchandise

stores — (*)6,909

Food stores — (*)374

Automotive dealers and

service stations — (*)14,387

Apparel and accessory

stores — (*)1,901

Furniture and home

furnishing stores — (*)320

Eating and drinking

places — 24,600

All other retail stores — (*)3,454

Finance, Insurance, and real

estate — 420,828

Banking — 173,106

Credit agencies other than

banks — (*)17,962

Security, commodity brokers,

and services — 19,004

Insurance — 162,402

Insurance agents, brokers,

and service — (*)5,961

Real estate — (*)41,217

Holding and other investment

companies, except bank

holding companies — (*)1,176

Services (*)4,375 253,207

Hotels and other lodging

places (*)4,375 (*)23,504

Personal services — (*)1,886

Business services — 206,578

Auto repair; miscellaneous

repair services — (*)1,446

Amusement and recreation

services — (*)10,414

All other services — 9,378

Foreign

income

and taxes

reported on

Form 1118

Gross

income

(less loss)

Major and selected minor U.S. income

industrial group tax after Total

credits(2)

(15) (16)

All industries 84,320,008 331,078,563

Agriculture, forestry, and

fishing 144,678 451,268

Mining 456,007 7,434,377

Metal mining (*)68,571 1,902,426

Coal mining (*)78,007 (*)1,354,832

Oil and gas extraction 193,892 4,136,348

Nonmetallic minerals, except

fuels (*)115,538 (*)40,771

Construction 269,926 2,038,420

General building contractors 90,728 393,412

Heavy construction

contractors 147,182 1,566,066

Special trade contractors 22,016 78,942

Manufacturing 38,855,700 173,377,185

Food and kindred products 1,854,638 11,095,903

Tobacco manufactures (*)2,114,182 (*)5,991,463

Textile mill products 148,915 102,815

Apparel and other textile

products 430,762 820,969

Lumber and wood products 167,727 85,945

Furniture and fixtures 235,087 128,498

Paper and allied products 913,252 3,613,692

Printing and publishing 2,477,885 4,991,339

Industrial plastics and

synthetic materials 2,519,350 11,561,330

Drugs 2,368,340 13,554,693

Other chemicals 1,675,962 6,113,785

Petroleum (including

integrated) and coal

products 4,445,814 36,083,035

Rubber and miscellaneous

plastics products 313,157 1332,871

Leather and leather products (*)27,545 (*)99,555

Stone, clay, and glass

products 477,424 1,155,276

Primary metal industries 652,895 3,718,507

Fabricated metal products 1,279,473 2,327,271

Office, computing, and

accounting machinery 1,557,822 15,152,470

Other machinery, except

electrical 1,883,016 5,878,075

Electrical and electronic

equipment 6,617,121 20,831,599

Motor vehicles and equipment 2,218,571 13,255,470

Transportation equipment,

except motor vehicles 2,158,072 3,512,954

Instruments and related

products 1,768,012 10,474,527

Miscellaneous manufacturing

and manufacturing not

allocable 550,578 1,495,143

Transportation and public

utilities 7,697,431 28,774,839

Transportation 1,502,803 13,412,145

Water transportation 83,270 1,642,750

All other transportation 1,419,533 11,769,395

Communication 4,464,760 11,834,921

Electric, gas, and sanitary

services 1,729,867 527,774

Wholesale and retail trade 7,379,718 12,603,872

Wholesale trade 2,733,336 7,858,959

Groceries and related

products (*)65,058 (*)10,821

Machinery, equipment, and

supplies 150,888 164,958

Miscellaneous wholesale

trade 2,517,390 7,683,180

Drugs, chemicals, and

allied products 118,946 123,766

Petroleum and

petroleum products (*)451,136 (*)1,700,623

Other miscellaneous

wholesale trade 1,947,308 5,858,791

Retail trade 4,646,382 4,744,913

Building materials,

garden supplies, and

mobile home dealers (*)462,531 (*)19,319

General merchandise

stores (*)2,307,541 (*)945,025

Food stores (*)98,093 (*)149,099

Automotive dealers and

service stations (*)14,095 (*)848

Apparel and accessory

stores 736,424 234,694

Furniture and home

furnishing stores (*)42,031 (*)13,397

Eating and drinking

places 489,015 2,848,776

All other retail stores 496,653 533,756

Finance, Insurance, and real

estate 25,670,676 89,842,449

Banking 8,087,657 45,034,361

Credit agencies other than

banks 1,256,694 7,303,845

Security, commodity brokers,

and services 2,512,316 12,029,484

Insurance 12,151,705 22,148,502

Insurance agents, brokers,

and service 494,188 596,101

Real estate 175,623 98,821

Holding and other investment

companies, except bank

holding companies 992,493 2,631,334

Services 3,855,872 19,556,162

Hotels and other lodging

places 287,655 852,463

Personal services 169,504 264,635

Business services 2,250,798 12,269,130

Auto repair; miscellaneous

repair services (*)20,355 (*)6,870

Amusement and recreation

services 635,220 4,280,359

All other services 492,340 1,882,694

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Foreign

dividend

income

resulting

Major and selected minor from

industrial group Dividends foreign taxes

deemed paid

(gross-up)

(17) (18)

All industries 62,621,980 26,714,995

Agriculture, forestry, and

fishing 125,187 (*)80,714

Mining 361,131 130,112

Metal mining (*)94,565 (*)30,662

Coal mining (*)13,026 (*)1,251

Oil and gas extraction 246,081 95,294

Nonmetallic minerals, except

fuels (*)7,459 (*)2,905

Construction 285,837 (*)127,756

General building contractors 67,838 (*)20,013

Heavy construction

contractors (*)206,623 (*)99,529

Special trade contractors (*)11,375 (*)8,214

Manufacturing 47,179,226 20,767,867

Food and kindred products 4,408,865 1,745,539

Tobacco manufactures (*)2,293,215 (*)1,013,905

Textile mill products 41,017 14,855

Apparel and other textile

products (*)261,787 (*)140,998

Lumber and wood products (*)17,321 (*)7,990

Furniture and fixtures (*)52,658 (*)23,757

Paper and allied products 1,373,928 837,452

Printing and publishing 479,556 275,573

Industrial plastics and

synthetic materials 3,299,490 1,237,247

Drugs 5,057,660 2,325,248

Other chemicals 1,611,815 735,021

Petroleum (including

integrated) and coal

products 8,851,261 4,159,021

Rubber and miscellaneous

plastics products 255,723 127,026

Leather and leather products (*)9,103 (*)777

Stone, clay, and glass

products 492,401 236,348

Primary metal industries 829,716 453,785

Fabricated metal products 736,223 406,000

Office, computing, and

accounting machinery 3,277,286 1,392,216

Other machinery, except

electrical 1,426,511 434,780

Electrical and electronic

equipment 4,503,620 1,698,986

Motor vehicles and equipment 3,840,167 1,916,547

Transportation equipment,

except motor vehicles 1,080,317 290,986

Instruments and related

products 2,491,719 1,106,272

Miscellaneous manufacturing

and manufacturing not

allocable 487,854 187,536

Transportation and public

utilities 911,882 230,893

Transportation 196,299 69,365

Water transportation (*)38,028 (*)10,222

All other transportation 158,271 59,142

Communication 532,598 (*)101,808

Electric, gas, and sanitary

services 182,955 59,520

Wholesale and retail trade 1,817,236 936,253

Wholesale trade 1,001,720 390,584

Groceries and related

products (*)1,494 (*)756

Machinery, equipment, and

supplies 25,207 10,269

Miscellaneous wholesale

trade 975,020 379,559

Drugs, chemicals, and

allied products (*)21,227 (*)6,315

Petroleum and

petroleum products (*)202,817 (*)95,080

Other miscellaneous

wholesale trade 750,976 278,165

Retail trade 815,515 545,668

Building materials,

garden supplies, and

mobile home dealers (*)11 —

General merchandise

stores (*)201,084 (*)142,465

Food stores (*)15 —

Automotive dealers and

service stations (*)175 —

Apparel and accessory

stores (*)85,611 (*)7,710

Furniture and home

furnishing stores — —

Eating and drinking

places (*)429,542 (*)365,760

All other retail stores (*)99,079 (*)29,733

Finance, Insurance, and real

estate 9,698,422 3,262,854

Banking 3,412,278 1,081,562

Credit agencies other than

banks 485,241 116,605

Security, commodity brokers,

and services 1,872,445 806,014

Insurance 2,246,791 567,562

Insurance agents, brokers,

and service 294,668 (*)102,806

Real estate 25,936 (*)11,077

Holding and other investment

companies, except bank

holding companies 1,361,062 577,227

Services 2,243,070 1,178,745

Hotels and other lodging

places (*)145,298 (*)35,610

Personal services (*)71,083 (*)24,913

Business services 1,456,719 924,226

Auto repair; miscellaneous

repair services (*)1,471 (*)467

Amusement and recreation

services (*)254,554 (*)66,704

All other services 313,944 126,825

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Rents,

Major and selected minor royalties,

industrial group Interest and

license fees

(19) (20)

All industries 56,197,146 45,127,226

Agriculture, forestry, and

fishing (*)20,436 (*)24,079

Mining 248,704 104,387

Metal mining (*)70,887 (*)1,163

Coal mining (*)71,755 (*)40,448

Oil and gas extraction 98,276 61,209

Nonmetallic minerals, except

fuels (*)7,785 (*)1,537

Construction 12,990 11,130

General building contractors (*)4,982 (*)418

Heavy construction

contractors (*)5,585 (*)3,374

Special trade contractors (*)2,424 (*)7,338

Manufacturing 7,852,821 30,863,256

Food and kindred products 207,699 1,244,461

Tobacco manufactures (*)84,815 (*)965,071

Textile mill products (*)4,859 (*)15,842

Apparel and other textile

products (*)14,564 319,678

Lumber and wood products (*)31,206 (*)22,311

Furniture and fixtures (*)9,743 10,952

Paper and allied products 69,904 584,068

Printing and publishing 42,073 2,511,481

Industrial plastics and

synthetic materials 457,240 1,782,943

Drugs 179,490 2,486,451

Other chemicals 107,741 1,669,390

Petroleum (including

integrated) and coal

products 3,086,868 529,024

Rubber and miscellaneous

plastics products 50,384 384,715

Leather and leather products (*)3,816 (*)44,178

Stone, clay, and glass

products 17,255 182,838

Primary metal industries 107,875 140,606

Fabricated metal products 70,828 211,226

Office, computing, and

accounting machinery 80,635 7,286,824

Other machinery, except

electrical 299,093 480,025

Electrical and electronic

equipment 2,076,693 4,090,202

Motor vehicles and equipment 483,878 2,070,871

Transportation equipment,

except motor vehicles 126,326 570,868

Instruments and related

products 220,956 2,869,539

Miscellaneous manufacturing

and manufacturing not

allocable 18,880 389,690

Transportation and public

utilities 331,882 1,452,033

Transportation 42,504 71,825

Water transportation (*)4,100 (*)6,202

All other transportation 38,404 65,624

Communication (*)219,276 (*)1,370,159

Electric, gas, and sanitary

services 70,103 (*)10,049

Wholesale and retail trade 1,662,167 1,253,371

Wholesale trade 1,353,644 363,836

Groceries and related

products (*)3,905 (*)2,079

Machinery, equipment, and

supplies 3,282 (*)15,206

Miscellaneous wholesale

trade 1,346,457 346,551

Drugs, chemicals, and

allied products (*)102 (*)2,469

Petroleum and

petroleum products (*)890,010 (*)137

Other miscellaneous

wholesale trade 456,345 343,945

Retail trade 308,524 889,535

Building materials,

garden supplies, and

mobile home dealers — (*)7,676

General merchandise

stores (*)17,044 (*)62,484

Food stores (*)2,974 (*)68,601

Automotive dealers and

service stations (*)545 (*)128

Apparel and accessory

stores (*)8,639 (*)34,714

Furniture and home

furnishing stores — (*)9,807

Eating and drinking

places (*)256,640 617,088

All other retail stores 22,683 89,037

Finance, Insurance, and real

estate 45,683,318 1,282,097

Banking 30,062,863 635,397

Credit agencies other than

banks 2,052,523 (*)166,108

Security, commodity brokers,

and services 7,010,927 (*)2,661

Insurance 6,263,852 462,855

Insurance agents, brokers,

and service (*)23,303 (*)3,223

Real estate 2,090 (*)941

Holding and other investment

companies, except bank

holding companies 267,759 (*)10,912

Services 384,829 10,136,904

Hotels and other lodging

places 71,934 (*)230,416

Personal services (*)5,501 37,018

Business services 188,448 6,352,961

Auto repair; miscellaneous

repair services (*)432 (*)2,469

Amusement and recreation

services (*)105,225 3,172,002

All other services 13,289 342,037

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Major and selected minor Service Other

industrial group income income

(21) (22)

All industries 28,536,992 111,880,244

Agriculture, forestry, and

fishing — (*)200,854

Mining 1,530,404 5,059,670

Metal mining (*)332,466 (*)1,372,683

Coal mining (*)252 (*)1,228,100

Oil and gas extraction 1,192,718 2,442,771

Nonmetallic minerals, except

fuels (*)4,968 (*)16,116

Construction 1,571,354 29,353

General building contractors (*)297,216 (*)2,945

Heavy construction

contractors (*)1,239,069 (*)11,886

Special trade contractors (*)35,069 (*)14,522

Manufacturing 3,613,995 63,100,021

Food and kindred products (*)162,143 3,327,196

Tobacco manufactures (*)26,019 (*)1,608,437

Textile mill products (*)954 (*)25,286

Apparel and other textile

products (*)7,170 (*)76,772

Lumber and wood products (*)3,506 (*)3,610

Furniture and fixtures (*)10,053 (*)21,334

Paper and allied products (*)47,596 700,743

Printing and publishing 107,993 1,574,664

Industrial plastics and

synthetic materials 147,799 4,636,611

Drugs (*)82,695 3,423,150

Other chemicals 49,582 1,940,235

Petroleum (including

integrated) and coal

products (*)893,647 18,563,213

Rubber and miscellaneous

plastics products (*)7,867 507,157

Leather and leather products (*)697 (*)40,985

Stone, clay, and glass

products (*)44,112 182,322

Primary metal industries (*)376,945 1,809,580

Fabricated metal products 41,775 861,220

Office, computing, and

accounting machinery (*)120,875 2,994,634

Other machinery, except

electrical 305,702 2,931,963

Electrical and electronic

equipment 258,656 8,203,443

Motor vehicles and equipment 477,666 4,466,341

Transportation equipment,

except motor vehicles 361,080 1,083,377

Instruments and related

products 23,729 3,762,311

Miscellaneous manufacturing

and manufacturing not

allocable 55,736 355,436

Transportation and public

utilities 8,353,511 14,494,887

Transportation 8,001,491 5,030,661

Water transportation (*)1,562,935 (*)21,263

All other transportation 6,438,556 5,009,398

Communication (*)327,622 9,283,457

Electric, gas, and sanitary

services (*)24,398 180,749

Wholesale and retail trade 293,189 6,641,657

Wholesale trade 96,045 4,653,130

Groceries and related

products (*)180 (*)2,408

Machinery, equipment, and

supplies (*)9,049 (*)101,945

Miscellaneous wholesale

trade 86,816 4,548,777

Drugs, chemicals, and

allied products (*)13,458 (*)80,194

Petroleum and

petroleum products (*)67 (*)512,513

Other miscellaneous

wholesale trade 73,291 3,956,070

Retail trade 197,144 1,988,527

Building materials,

garden supplies, and

mobile home dealers — (*)11,633

General merchandise

stores (*)177,262 (*)344,686

Food stores — (*)77,509

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)809 97,212

Furniture and home

furnishing stores (*)822 (*)2,768

Eating and drinking

places (*)4,644 (*)1,175,102

All other retail stores (*)13,607 279,617

Finance, Insurance, and real

estate 9,304,527 20,611,230

Banking (*)1,678,915 8,163,346

Credit agencies other than

banks (*)237,745 (*)4,245,623

Security, commodity brokers,

and services 320,423 2,017,013

Insurance 6,666,682 5,940,760

Insurance agents, brokers,

and service (*)140,158 (*)31,943

Real estate (*)51,699 7,078

Holding and other investment

companies, except bank

holding companies 208,905 205,468

Services 3,870,011 1,742,592

Hotels and other lodging

places (*)89,022 (*)280,183

Personal services (*)121,007 (*)5,111

Business services 2,244,920 1,101,856

Auto repair; miscellaneous

repair services (*)867 (*)1,163

Amusement and recreation

services (*)538,299 143,574

All other services 875,895 210,705

Foreign income and taxes

reported on Form 1118

Oil and gas

Major and selected minor extraction

industrial group income Foreign

(less branch

loss)(3) income(3)

(23) (24)

All industries 22,073,503 75,499,359

Agriculture, forestry, and

fishing — (*)3,346

Mining 2,482,356 1,525,846

Metal mining — (*)127,578

Coal mining (*)576,136 (*)29,812

Oil and gas extraction 1,882,660 1,364,495

Nonmetallic minerals, except

fuels (*)3,560 (*)3,962

Construction — (*)18,518

General building contractors — (*)2,898

Heavy construction

contractors — (*)16,108

Special trade contractors — (*)-488

Manufacturing 19,462,765 29,497,116

Food and kindred products — 1,293,224

Tobacco manufactures — (*)924,505

Textile mill products — (*)2,164

Apparel and other textile

products — (*)66,964

Lumber and wood products — (*)1,679

Furniture and fixtures — (*)7,491

Paper and allied products — (*)37,376

Printing and publishing — (*)236,158

Industrial plastics and

synthetic materials (*)1,456,066 1,611,631

Drugs — 1,774,267

Other chemicals — 1,132,274

Petroleum (including

integrated) and coal

products 18,006,124 16,696,754

Rubber and miscellaneous

plastics products — 223,687

Leather and leather products — (*)340

Stone, clay, and glass

products — (*)43,763

Primary metal industries — 973,541

Fabricated metal products — 127,448

Office, computing, and

accounting machinery — (*)974,140

Other machinery, except

electrical (*)575 744,758

Electrical and electronic

equipment — 864,665

Motor vehicles and equipment — (*)746,259

Transportation equipment,

except motor vehicles — 481,550

Instruments and related

products — 433,502

Miscellaneous manufacturing

and manufacturing not

allocable — 98,974

Transportation and public

utilities (*)97,909 1,508,962

Transportation — (*)1,089,456

Water transportation — (*)23,832

All other transportation — (*)1,065,624

Communication — (*)278,494

Electric, gas, and sanitary

services (*)97,909 (*)141,012

Wholesale and retail trade — 2,375,382

Wholesale trade — 733,919

Groceries and related

products — —

Machinery, equipment, and

supplies — (*)86,230

Miscellaneous wholesale

trade — 647,689

Drugs, chemicals, and

allied products — (*)810

Petroleum and

petroleum products — (*)99,696

Other miscellaneous

wholesale trade — 547,183

Retail trade — 1,641,463

Building materials,

garden supplies, and

mobile home dealers — —

General merchandise

stores — (*)285,030

Food stores — (*)59,389

Automotive dealers and

service stations — —

Apparel and accessory

stores — (*)30,852

Furniture and home

furnishing stores — —

Eating and drinking

places — (*)1,101,391

All other retail stores — (*)164,800

Finance, Insurance, and real

estate (*)50,473 38,366,308

Banking — (*)28,895,869

Credit agencies other than

banks — (*)309,367

Security, commodity brokers,

and services — (*)1,218,216

Insurance — 7,661,604

Insurance agents, brokers,

and service — (*)31,900

Real estate — (*)38,955

Holding and other investment

companies, except bank

holding companies (*)50,473 (*)10,397

Services — 2,203,882

Hotels and other lodging

places — (*)262,171

Personal services — (*)40

Business services — 1,214,615

Auto repair; miscellaneous

repair services — —

Amusement and recreation

services — (*)624,976

All other services — (*)102,079

Foreign income and taxes

reported on Form 1118

Deductions

Specifically

allocable Total

Major and selected minor income

industrial group [section

863 (b)(3)

(25) (26)

All industries 27,442,900 1,180,252,217

Agriculture, forestry, and

fishing (*)23,441 (*)157,071

Mining (*)227,702 4,358,129

Metal mining — (*)1,410,038

Coal mining — -741,137

Oil and gas extraction (*)219,895 2,199,176

Nonmetallic minerals, except

fuels (*)7,808 (*)7,779

Construction 1,653 1,432,678

General building contractors — 285,669

Heavy construction

contractors — 1,102,009

Special trade contractors (*)1,853 (*)45,000

Manufacturing 18,229,264 73,719,774

Food and kindred products 508,797 3,964,162

Tobacco manufactures (*)589,384 (*)2,247,569

Textile mill products (*)22,968 43,187

Apparel and other textile

products (*)12,672 229,763

Lumber and wood products (*)2,401 (*)32,530

Furniture and fixtures (*)6,296 (*)31,458

Paper and allied products 511,983 882,744

Printing and publishing (*)63,338 3,025,432

Industrial plastics and

synthetic materials 2,048,162 5,549,747

Drugs 1,516,684 4,449,725

Other chemicals 477,710 2,698,182

Petroleum (including

integrated) and coal

products (*)198,938 13,583,043

Rubber and miscellaneous

plastics products 59,900 609,541

Leather and leather products (*)6,816 (*)51,068

Stone, clay, and glass

products (*)137,764 409,816

Primary metal industries 389,136 1,997,679

Fabricated metal products 236,338 864,524

Office, computing, and

accounting machinery (*)813,417 6,123,466

Other machinery, except

electrical 956,773 3,683,350

Electrical and electronic

equipment 5,639,116 10,901,735

Motor vehicles and equipment 1,216,207 4,738,958

Transportation equipment,

except motor vehicles 554,522 2,041,052

Instruments and related

products 2,053,270 4,926,446

Miscellaneous manufacturing

and manufacturing not

allocable 206,672 634,593

Transportation and public

utilities 4,786,644 21,807,501

Transportation (*)4,710,425 11,850,252

Water transportation (*)10,113 1,427,818

All other transportation (*)4,700,312 10,422,433

Communication (*)25,195 9,642,910

Electric, gas, and sanitary

services (*)51,024 314,340

Wholesale and retail trade 321,353 7,681,111

Wholesale trade 171,917 5,350,413

Groceries and related

products (*)728 (*)2,134

Machinery, equipment, and

supplies (*)9,253 93,463

Miscellaneous wholesale

trade 161,936 5,254,817

Drugs, chemicals, and

allied products (*)1,135 30,390

Petroleum and

petroleum products — (*)1,116,039

Other miscellaneous

wholesale trade (*)160,801 4,108,388

Retail trade (*)149,436 2,230,698

Building materials,

garden supplies, and

mobile home dealers — -1,930

General merchandise

stores (*)84,596 (*)400,611

Food stores — (*)78,639

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)2,448 101,663

Furniture and home

furnishing stores — (*)3,956

Eating and drinking

places (*)489 1,429,569

All other retail stores (*)61,903 214,329

Finance, Insurance, and real

estate 2,981,923 59,581,857

Banking (*)2,362,961 31,740,631

Credit agencies other than

banks — 6,013,307

Security, commodity brokers,

and services (*)3,633 7,768,920

Insurance 590,102 13,192,305

Insurance agents, brokers,

and service — (*)186,640

Real estate (*)9,031 51,705

Holding and other investment

companies, except bank

holding companies (*)16,195 598,348

Services 870,720 11,644,095

Hotels and other lodging

places (*)2,439 560,180

Personal services (*)118 155,968

Business services 618,313 6,162,742

Auto repair; miscellaneous

repair services (*)3,616 (*)2,320

Amusement and recreation

services (*)43,024 3,550,008

All other services (*)203,210 1,212,878

Foreign income and taxes

reported on Form 1118

Deductions

Deduction allocable to

specific types of income

Rental,

royalty, and

licensing

expenses

Depreciation

Total depletion,

Major and selected minor and

industrial group amortization

(27) (28)

All industries 91,896,475 1,398,793

Agriculture, forestry, and

fishing (*)103,257 —

Mining 3,641,828 32,740

Metal mining (*)1,042,194 (*)782

Coal mining (*)731,870 —

Oil and gas extraction 1,862,220 31,958

Nonmetallic minerals, except

fuels (*)5,545 —

Construction 1,364,323 (*)344

General building contractors 256,482 (*)4

Heavy construction

contractors (*)1,086,192 (*)220

Special trade contractors (*)41,648 (*)121

Manufacturing 38,268,158 227,380

Food and kindred products 2,406,136 (*)1,317

Tobacco manufactures (*)1,387,309 —

Textile mill products (*)31,255 (*)64

Apparel and other textile

products (*)72,403 (*)92

Lumber and wood products (*)7,653 (*)1,289

Furniture and fixtures (*)22,642 (*)1,211

Paper and allied products 239,665 (*)529

Printing and publishing 1,922,911 (*)490

Industrial plastics and

synthetic materials 3,045,652 (*)8,138

Drugs 1,623,470 (*)734

Other chemicals 1,658,063 (*)553

Petroleum (including

integrated) and coal

products 10,148,777 (*)18,900

Rubber and miscellaneous

plastics products 415,769 (*)81

Leather and leather products (*)10,502 —

Stone, clay, and glass

products 146,521 —

Primary metal industries 1,144,031 (*)142,890

Fabricated metal products 437,662 (*)1,934

Office, computing, and

accounting machinery 1,893,264 (*)1,333

Other machinery, except

electrical 1,987,536 (*)2,109

Electrical and electronic

equipment 5,123,229 (*)799

Motor vehicles and equipment 1,204,999 —

Transportation equipment,

except motor vehicles 1,492,429 (*)37,186

Instruments and related

products 1,577,298 —

Miscellaneous manufacturing

and manufacturing not

allocable 268,984 (*)7,732

Transportation and public

utilities 15,182,848 390,514

Transportation 10,658,060 (*)95,289

Water transportation (*)1,395,385 (*)282

All other transportation 9,262,676 (*)95,007

Communication 4,386,789 (*)291,908

Electric, gas, and sanitary

services 137,998 (*)3,318

Wholesale and retail trade 5,500,646 11,822

Wholesale trade 3,913,972 10,679

Groceries and related

products (*)728 (*)38

Machinery, equipment, and

supplies 41,072 (*)7,078

Miscellaneous wholesale

trade 3,872,172 (*)3,563

Drugs, chemicals, and

allied products (*)13,033 —

Petroleum and

petroleum products (*)353,743 —

Other miscellaneous

wholesale trade 3,505,396 (*)3,563

Retail trade 1,586,674 (*)1,143

Building materials,

garden supplies, and

mobile home dealers (*)303 —

General merchandise

stores (*)315,093 —

Food stores (*)72,112 (*)376

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)66,898 —

Furniture and home

furnishing stores (*)2,443 —

Eating and drinking

places 961,189 —

All other retail stores 168,637 (*)767

Finance, Insurance, and real

estate 20,046,027 424,700

Banking 7,318,464 (*)350,181

Credit agencies other than

banks 4,280,670 (*)61,970

Security, commodity brokers,

and services 2,659,299 (*)495

Insurance 5,106,418 (*)6,760

Insurance agents, brokers,

and service (*)153,419 (*)259

Real estate 46,935 (*)2,758

Holding and other investment

companies, except bank

holding companies 480,821 (*)2,277

Services 7,769,388 311,291

Hotels and other lodging

places (*)339,657 (*)3,751

Personal services (*)120,121 —

Business services 3,395,718 46,215

Auto repair; miscellaneous

repair services (*)1,545 (*)276

Amusement and recreation

services 2,982,708 (*)257,263

All other services 929,638 (*)3,787

Foreign income and taxes

reported on Form 1118

Deductions

Deductions allocable to

specific types of income

Rental,

royalty,

and

amortization

Major and selected minor Service

industrial group Other expenses

(29) (30)

All industries 6,341,056 12,557,040

Agriculture, forestry, and

fishing (*)4,327 —

Mining (*)25,055 (*)965,385

Metal mining — (*)114,791

Coal mining — —

Oil and gas extraction (*)25,055 (*)847,216

Nonmetallic minerals, except

fuels — (*)3,378

Construction (*)1,047 1,349,263

General building contractors — (*)233,794

Heavy construction

contractors (*)59 (*)1,079,171

Special trade contractors (*)987 (*)36,298

Manufacturing 2,009,134 1,878,048

Food and kindred products (*)1,019,953 (*)1,850

Tobacco manufactures (*)29,999 —

Textile mill products — (*)64

Apparel and other textile

products (*)5,473 (*)1,108

Lumber and wood products — (*)2,487

Furniture and fixtures (*)2,294 (*)1,784

Paper and allied products (*)23,946 (*)58,621

Printing and publishing 342,305 88,460

Industrial plastics and

synthetic materials 28,641 (*)39,061

Drugs (*)5,472 (*)52,361

Other chemicals (*)1,576 (*)10,267

Petroleum (including

integrated) and coal

products (*)57,046 (*)279,251

Rubber and miscellaneous

plastics products (*)8,964 (*)6,947

Leather and leather products (*)1,526 (*)805

Stone, clay, and glass

products (*)822 (*)32,401

Primary metal industries (*)11,741 (*)333,981

Fabricated metal products (*)1,807 (*)21,295

Office, computing, and

accounting machinery (*)1,255 (*)1,214

Other machinery, except

electrical 25,648 109,126

Electrical and electronic

equipment 244,943 129,013

Motor vehicles and equipment (*)10,688 (*)401,055

Transportation equipment,

except motor vehicles (*)69,623 (*)285,193

Instruments and related

products (*)41,376 (*)12,362

Miscellaneous manufacturing

and manufacturing not

allocable (*)74,036 9,343

Transportation and public

utilities 297,757 5,054,410

Transportation 230,156 4,873,304

Water transportation (*)6,588 (*)1,385,085

All other transportation (*)223,569 3,488,219

Communication (*)40,877 (*)178,657

Electric, gas, and sanitary

services (*)26,724 (*)2,448

Wholesale and retail trade 268,670 103,417

Wholesale trade 118,978 36,509

Groceries and related

products (*)567 (*)4

Machinery, equipment, and

supplies (*)2,628 (*)6,814

Miscellaneous wholesale

trade 115,784 (*)28,690

Drugs, chemicals, and

allied products — (*)5,285

Petroleum and

petroleum products — (*)48

Other miscellaneous

wholesale trade 115,784 (*)23,357

Retail trade 149,592 (*)67,908

Building materials,

garden supplies, and

mobile home dealers (*)303 —

General merchandise

stores — (*)61,368

Food stores -13,603 —

Automotive dealers and

service stations — —

Apparel and accessory

stores — (*)3,015

Furniture and home

furnishing stores (*)1,059 —

Eating and drinking

places (*)68,717 (*)3,459

All other retail stores (*)65,911 (*)66

Finance, Insurance, and real

estate 1,661,553 701,672

Banking (*)145,874 (*)104,443

Credit agencies other than

banks (*)199,325 (*)14,586

Security, commodity brokers,

and services (*)980,758 (*)82,994

Insurance 53,050 192,228

Insurance agents, brokers,

and service (*)329 (*)113,066

Real estate (*)1,872 (*)20,791

Holding and other investment

companies, except bank

holding companies 180,346 (*)173,564

Services 2,173,612 2,504,847

Hotels and other lodging

places (*)12,757 (*)12,530

Personal services (*)2,066 (*)115,179

Business services 335,576 1,342,739

Auto repair; miscellaneous

repair services (5) (*)521

Amusement and recreation

services (*)1,791,157 (*)400,121

All other services 32,056 633,757

Foreign income and taxes

reported on Form 1118

Deductions

Deductions

Other not allocable

Major and selected minor deductions to specific

industrial group allocable types of

to specific income

types of

income

Total

(31) (32)

All industries 71,599,587 88,355,742

Agriculture, forestry, and

fishing (*)98,929 (*)53,814

Mining 2,618,649 716,301

Metal mining (*)926,621 (*)367,845

Coal mining (*)731,870 (*)9,267

Oil and gas extraction 957,991 336,956

Nonmetallic minerals, except

fuels (*)2,167 (*)2,234

Construction 33,670 48,385

General building contractors 22,684 (*)29,187

Heavy construction

contractors (*)8,742 (*)15,817

Special trade contractors (*)4,243 (*)3,352

Manufacturing 34,153,595 35,451,616

Food and kindred products 1,383,016 1,558,026

Tobacco manufactures (*)1,357,310 (*)860,261

Textile mill products (*)31,126 11,932

Apparel and other textile

products (*)65,731 157,360

Lumber and wood products (*)3,878 (*)24,877

Furniture and fixtures (*)17,354 (*)8,816

Paper and allied products 156,568 643,079

Printing and publishing 1,491,656 1,102,522

Industrial plastics and

synthetic materials 2,969,811 2,504,096

Drugs 1,564,904 2,826,255

Other chemicals 1,645,667 1,040,119

Petroleum (including

integrated) and coal

products 9,793,581 3,434,266

Rubber and miscellaneous

plastics products 399,777 193,772

Leather and leather products (*)8,171 (*)40,566

Stone, clay, and glass

products (*)113,298 263,295

Primary metal industries 655,419 853,648

Fabricated metal products 412,626 426,862

Office, computing, and

accounting machinery 1,889,462 4,230,202

Other machinery, except

electrical 1,850,651 1,695,815

Electrical and electronic

equipment 4,748,474 5,778,506

Motor vehicles and equipment 793,257 3,533,959

Transportation equipment,

except motor vehicles 1,100,426 548,824

Instruments and related

products 1,523,560 3,349,148

Miscellaneous manufacturing

and manufacturing not

allocable 177,873 365,609

Transportation and public

utilities 9,440,167 6,624,654

Transportation 5,459,311 1,192,191

Water transportation (*)3,430 (*)32,434

All other transportation 5,455,881 1,159,758

Communication 3,875,348 5,256,120

Electric, gas, and sanitary

services 105,508 176,342

Wholesale and retail trade 5,116,837 2,080,466

Wholesale trade 3,748,806 1,436,442

Groceries and related

products (*)119 (*)1,406

Machinery, equipment, and

supplies (*)24,553 52,390

Miscellaneous wholesale

trade 3,724,134 1,382,646

Drugs, chemicals, and

allied products (*)7,748 (*)17,358

Petroleum and

petroleum products (*)353,695 (*)762,296

Other miscellaneous

wholesale trade 3,362,692 602,992

Retail trade 1,368,031 644,023

Building materials,

garden supplies, and

mobile home dealers — (*)1,627

General merchandise

stores (*)253,725 (*)85,518

Food stores (*)58,133 (*)6,528

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)63,883 34,765

Furniture and home

furnishing stores -1,384 -1,513

Eating and drinking

places (*)889,013 468,381

All other retail stores 101,894 45,692

Finance, Insurance, and real

estate 17,358,102 39,$06,830

Banking 6,717,967 24,422,167

Credit agencies other than

banks (*)4,004,790 1,732,637

Security, commodity brokers,

and services 1,595,052 5,109,621

Insurance 4,854,380 8,085,887

Insurance agents, brokers,

and service (*)39,765 (*)33,221

Real estate (*)21,514 (*)4,770

Holding and other investment

companies, except bank

holding companies 124,634 117,527

Services 2,779,638 3,874,707

Hotels and other lodging

places (*)310,619 220,524

Personal services (*)2,876 (*)35,846

Business services 1,671,189 2,767,023

Auto repair; miscellaneous

repair services (*)748 (*)775

Amusement and recreation

services (*)534,167 567,299

All other services 260,040 283,239

Foreign income and taxes

reported on Form 1118

Deductions

Deductions not allocable

to specific types of income

Major and selected minor Research

industrial group and Interest

development

(33) (34)

All industries 9,232,584 35,536,186

Agriculture, forestry, and

fishing (*)22,388 (*)12,424

Mining (*)28,646 184,390

Metal mining — (*67,549

Coal mining — (*)8,155

Oil and gas extraction (*)28,646 107,229

Nonmetallic minerals, except

fuels — -1,457

Construction (*)468 (*)7,693

General building contractors — -1,925

Heavy construction

contractors — (*)3,751

Special trade contractors (*)468 (*)2,017

Manufacturing 7,811,540 11,129,424

Food and kindred products 45,878 698,221

Tobacco manufactures (*)43,747 (*)318,403

Textile mill products (*)1,597 9,426

Apparel and other textile

products (*)8,854 (*)77,512

Lumber and wood products — (*)16,187

Furniture and fixtures (*)113 (*)7,659

Paper and allied products 126,453 170,969

Printing and publishing (*)13,203 227,763

Industrial plastics and

synthetic materials 516,016 1,219,465

Drugs 823,075 832,446

Other chemicals 273,901 341,710

Petroleum (including

integrated) and coal

products 174,504 1,887,357

Rubber and miscellaneous

plastics products 15,208 33,269

Leather and leather products (*)1,353 (*)8,376

Stone, clay, and glass

products (*)35,707 110,682

Primary metal industries 25,648 154,802

Fabricated metal products 36,982 176,442

Office, computing, and

accounting machinery 1,924,431 469,841

Other machinery, except

electrical 260,921 473,148

Electrical and electronic

equipment 1,277,489 1,652,548

Motor vehicles and equipment 842,889 1,389,312

Transportation equipment,

except motor vehicles 150,149 212,878

Instruments and related

products 1,113,946 575,474

Miscellaneous manufacturing

and manufacturing not

allocable 99,475 65,536

Transportation and public

utilities 312,900 737,028

Transportation (*)3,755 137,550

Water transportation — (*)27,962

All other transportation (*)3,755 109,588

Communication (*)309,136 (*)432,274

Electric, gas, and sanitary

services (*)9 167,204

Wholesale and retail trade 3,548 1,515,266

Wholesale trade 3,267 1,101,859

Groceries and related

products — —

Machinery, equipment, and

supplies (*)266 (*)8,114

Miscellaneous wholesale

trade (*)3,000 1,093,745

Drugs, chemicals, and

allied products — (*)3,803

Petroleum and

petroleum products — (*)757,366

Other miscellaneous

wholesale trade (*)3,000 332,577

Retail trade (*)281 413,407

Building materials,

garden supplies, and

mobile home dealers — —

General merchandise

stores (*)2 (*)63,754

Food stores — (*)390

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)268 *27,405

Furniture and home

furnishing stores — (*)76

Eating and drinking

places (*)11 (*)301,492

All other retail stores — (*)20,289

Finance, Insurance, and real

estate (*)15,939 21,279,488

Banking (*)6,068 14,502,053

Credit agencies other than

banks — 1,033,820

Security, commodity brokers,

and services (*)2,574 4,745,670

Insurance (*)1,135 954,171

Insurance agents, brokers,

and service (*)5,394 (*)13,820

Real estate — (*)4,662

Holding and other investment

companies, except bank

holding companies (*)767 25,293

Services 1,037,155 670,472

Hotels and other lodging

places — (*)155,316

Personal services (*)1,362 (*)32,524

Business services 997,008 150,335

Auto repair; miscellaneous

repair services (5) (*)69

Amusement and recreation

services (*)5,663 (*)269,480

All other services 33,122 62,748

Foreign income and taxes

reported on Form 1118

Deductions

Deductions

not allocable Deductions

to specific from oil

types of income and gas

Major and selected minor extraction

industrial group Other income(4)

(35) (36)

All industries 41,328,284 7,428,558

Agriculture, forestry, and

fishing (*)18,002 —

Mining 498,967 888,345

Metal mining (*)300,296 —

Coal mining — (*)117,801

Oil and gas extraction 198,097 750,544

Nonmetallic minerals, except

fuels (*)575 —

Construction 33,623 —

General building contractors (*)27,261 —

Heavy construction

contractors (*)5,834 —

Special trade contractors (*)528 —

Manufacturing 16,068,492 6,485,088

Food and kindred products 799,247 —

Tobacco manufactures (*)460,277 —

Textile mill products (*)656 —

Apparel and other textile

products (*)68,591 —

Lumber and wood products (*)8,613 —

Furniture and fixtures (*)1,044 —

Paper and allied products 343,965 —

Printing and publishing 839,821 —

Industrial plastics and

synthetic materials 752,352 (*)535,631

Drugs 961,327 —

Other chemicals 417,289 —

Petroleum (including

integrated) and coal

products 1,370,745 5,949,385

Rubber and miscellaneous

plastics products 138,986 —

Leather and leather products (*)30,838 —

Stone, clay, and glass

products (*)114,225 —

Primary metal industries 658,861 —

Fabricated metal products 210,683 —

Office, computing, and

accounting machinery 1,828,848 —

Other machinery, except

electrical 937,971 (*)72

Electrical and electronic

equipment 2,800,080 —

Motor vehicles and equipment 1,290,224 —

Transportation equipment,

except motor vehicles 184,188 —

Instruments and related

products 1,654,570 —

Miscellaneous manufacturing

and manufacturing not

allocable 195,070 —

Transportation and public

utilities 5,570,089 (*)73,170

Transportation 1,047,316 —

Water transportation (*)2,493 —

All other transportation 1,044,823 —

Communication (*)4,514,711 —

Electric, gas, and sanitary

services (*)8,062 (*)73,170

Wholesale and retail trade 513,966 —

Wholesale trade 297,730 —

Groceries and related

products — —

Machinery, equipment, and

supplies (*)42,452 —

Miscellaneous wholesale

trade 255,278 —

Drugs, chemicals, and

allied products (*)8,406 —

Petroleum and

petroleum products (*)4,930 —

Other miscellaneous

wholesale trade 241,943 —

Retail trade 216,236 —

Building materials,

garden supplies, and

mobile home dealers — —

General merchandise

stores (*)21,762 —

Food stores -2,124 —

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)6,360 —

Furniture and home

furnishing stores -1,432 —

Eating and drinking

places (*)163,230 —

All other retail stores (*)21,329 —

Finance, Insurance, and real

estate 16,592,139 (*)1,965

Banking 8,505,624 —

Credit agencies other than

banks (*)698,817 —

Security, commodity brokers,

and services (*)347,148 —

Insurance 6,958,547 —

Insurance agents, brokers,

and service (*)3,321 —

Real estate (*)108 —

Holding and other investment

companies, except bank

holding companies 78,573 (*)1,955

Services 2,030,007 —

Hotels and other lodging

places (*)64,676 —

Personal services (*)788 —

Business services 1,495,624 —

Auto repair; miscellaneous

repair services (*)706 —

Amusement and recreation

services 292,156 —

All other services 176,056 —

Foreign income and taxes

reported on Form 1118

Taxable

income

Major and selected minor (less loss) Adjustments

industrial group before to taxable

adjustments income

(37) (38)

All industries 150,826,345 5,235,512

Agriculture, forestry, and

fishing 294,197 (*)1,149

Mining 3,076,248 175,450

Metal mining 492,387 (*)15,790

Coal mining (*)613,696 —

Oil and gas extraction 1,937,173 (*)159,669

Nonmetallic minerals, except

fuels (*)32,992 —

Construction 605,741 (*)1,108

General building contractors 107,743 —

Heavy construction

contractors 464,057 —

Special trade contractors 33,941 (*)1,108

Manufacturing 99,667,411 3,262,098

Food and kindred products 7,131,741 15,574

Tobacco manufactures (*)3,743,893 (5)

Textile mill products 59,628 —

Apparel and other textile

products 591,206 (*)17,580

Lumber and wood products 53,414 —

Furniture and fixtures 97,040 (5)

Paper and allied products 2,730,948 (*)509

Printing and publishing 1,965,907 (*)14,118

Industrial plastics and

synthetic materials 6,011,583 368,404

Drugs 9,104,967 123,992

Other chemicals 3,415,603 70,051

Petroleum (including

integrated) and coal

products 22,499,991 184,788

Rubber and miscellaneous

plastics products 723,330 (*)27,997

Leather and leather products (*)48,487 —

Stone, clay, and glass

products 745,460 (*)71,409

Primary metal industries 1,720,828 56,457

Fabricated metal products 1,462,747 25,021

Office, computing, and

accounting machinery 9,029,004 (*)668,751

Other machinery, except

electrical 2,194,725 19,908

Electrical and electronic

equipment 9,929,864 474,060

Motor vehicles and equipment 8,516,512 602,676

Transportation equipment,

except motor vehicles 1,471,901 (*)5,545

Instruments and related

products 5,548,081 478,456

Miscellaneous manufacturing

and manufacturing not

allocable 860,550 (*)36,802

Transportation and public

utilities 3,967,338 213,035

Transportation 1,561,893 (*)169,935

Water transportation 214,932 (*)76,576

All other transportation 1,346,961 (*)93,359

Communication 2,192,011 (*)39,443

Electric, gas, and sanitary

services 213,434 (*)3,657

Wholesale and retail trade 6,022,761 173,569

Wholesale trade 2,508,546 157,033

Groceries and related

products (*)8,68 —

Machinery, equipment, and

supplies 71,495 (5)

Miscellaneous wholesale

trade 2,428,363 157,033

Drugs, chemicals, and

allied products 93,375 (*)48,085

Petroleum and

petroleum products (*)584,585 —

Other miscellaneous

wholesale trade 1,750,403 108,948

Retail trade 2,514,216 (*)16,527

Building materials,

garden supplies, and

mobile home dealers (*)17,389 (*)5,623

General merchandise

stores (*)544,414 (*)10,122

Food stores (*)70,459 —

Automotive dealers and

service stations (*)848 —

Apparel and accessory

stores 133,031 —

Furniture and home

furnishing stores -9,441 —

Eating and drinking

places 1,419,207 (5)

All other retail stores 319,426 (*)782

Finance, Insurance, and real

estate 30,290,692 1,226,961

Banking 13,293,730 997,697

Credit agencies other than

banks 1,290,538 (*)11,933

Security, commodity brokers,

and services 4,260,564 (*)37,141

Insurance 8,956,197 169,207

Insurance agents, brokers,

and service 409,461 (*)5,156

Real estate 47,115 (*)5,413

Holding and other investment

companies, except bank

holding companies 2,032,987 (*)414

Services 7,912,067 182,141

Hotels and other lodging

places 292,283 (*)29,993

Personal services 108,667 (*)5,394

Business services 6,106,388 132,198

Auto repair; miscellaneous

repair services (*)4,550 —

Amusement and recreation

services 730,352 (*)11,070

All other services 669,817 (*)3,486

Foreign income and taxes

reported on Form 1118

Taxable

income

Major and selected minor (less loss)

industrial group after Total

adjustments

(39) (40)

All industries 145,590,834 48,085,447

Agriculture, forestry, and

fishing 293,048 93,607

Mining 2,000,789 1,478,532

Metal mining 476,597 466

Coal mining (*)613,696 (*)219,166

Oil and gas extraction 1,777,504 788,592

Nonmetallic minerals, except

fuels (*)32,992 (*)4,651

Construction 604,633 214,161

General building contractors 107,743 37,432

Heavy construction

contractors 464,057 163

Special trade contractors 32,833 13,786

Manufacturing 96,395,313 35,004,424

Food and kindred products 7,116,167 2,491,511

Tobacco manufactures (*)3,743,893 (*)1,265,525

Textile mill products 59,628 17,510

Apparel and other textile

products 573,626 172,589

Lumber and wood products 53,414 24,481

Furniture and fixtures 97,040 42,281

Paper and allied products 2,730,439 993,345

Printing and publishing 1,951,789 489,741

Industrial plastics and

synthetic materials 5,643 1,738,901

Drugs 8,980,975 2,790,624

Other chemicals 3,345,552 1,085,570

Petroleum (including

integrated) and coal

products 22,315,203 10,795,562

Rubber and miscellaneous

plastics products 695,333 225,109

Leather and leather products (*)48,487 8,115

Stone, clay, and glass

products 674,051 314,528

Primary metal industries 1,664 772,238

Fabricated metal products 1,438 581,296

Office, computing, and

accounting machinery 8,360 3,327,219

Other machinery, except

electrical 2,174,817 684,721

Electrical and electronic

equipment 9,455,804 2,435,789

Motor vehicles and equipment 7,913,836 2,557,426

Transportation equipment,

except motor vehicles 1,466,357 494,366

Instruments and related

products 5,069,625 1,457,298

Miscellaneous manufacturing

and manufacturing not

allocable 823,748 238,740

Transportation and public

utilities 3,754,303 522,968

Transportation 1,391,958 170,349

Water transportation 138,355 31,155

All other transportation 1,253,602 139,194

Communication 2,152,568 237,550

Electric, gas, and sanitary

services 209,777 115,069

Wholesale and retail trade 4,849,202 1,511,164

Wholesale trade 2,351,513 660,633

Groceries and related

products (*)8,687 (*)2,387

Machinery, equipment, and

supplies 71,495 15,504

Miscellaneous wholesale

trade 2,271,330 642,742

Drugs, chemicals, and

allied products 45,290 16,774

Petroleum and

petroleum products (*)584,585 (*)152,698

Other miscellaneous

wholesale trade 1,641,456 473,270

Retail trade 2,497,689 860,631

Building materials,

garden supplies, and

mobile home dealers (*)11,767 (*)1,605

General merchandise

stores (*)534,291 (*)174,295

Food stores (*)70,459 (*)16,243

Automotive dealers and

service stations (*)848 (*)98

Apparel and accessory

stores 133,031 37,407

Furniture and home

furnishing stores (*)9,441 (*)676

Eating and drinking

places 1,419,207 559,245

All other retail stores 318,645 60,962

Finance, Insurance, and real

estate 29,063,631 7,102,084

Banking 12,296,033 3,182,748

Credit agencies other than

banks 1,278,605 306,642

Security, commodity brokers,

and services 4,223,423 1,116,898

Insurance 8,786,990 1,584,751

Insurance agents, brokers,

and service 404,305 121,235

Real estate 41,702 17,310

Holding and other investment

companies, except bank

holding companies 2,032,573 772,501

Services 7,729,918 2,188,808

Hotels and other lodging

places 262,290 110,934

Personal services 103,272 56,473

Business services 5,974,191 1,506,122

Auto repair; miscellaneous

repair services (*)4,550 (*)956

Amusement and recreation

services 719,282 213,754

All other services 666,330 270,266

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Major and selected minor Reduction

industrial group for certain

foreign Carryover

taxes

(41) (42)

All industries 1,772,035 8,680,079

Agriculture, forestry, and

fishing — (*)844

Mining 456,676 561,468

Metal mining (*)24,525 (*)128,254

Coal mining (*)43,307 (*)1,250

Oil and gas extraction 380,850 423,039

Nonmetallic minerals, except

fuels (*)7,994 (*)8,945

Construction — 14,579

General building contractors — (*)773

Heavy construction

contractors — (*)9,729

Special trade contractors — (*)4,078

Manufacturing 1,310,611 6,893,400

Food and kindred products — 250,452

Tobacco manufactures — (*)61,698

Textile mill products — (*)752

Apparel and other textile

products — (*)483

Lumber and wood products (*)10 (*)10,741

Furniture and fixtures — (*)15,224

Paper and allied products (*)20 (*)32,574

Printing and publishing — 33,315

Industrial plastics and

synthetic materials (*)14 135,301

Drugs (*)190 156,701

Other chemicals — 45,109

Petroleum (including

integrated) and coal

products 1,309,105 3,589,083

Rubber and miscellaneous

plastics products — 41

Leather and leather products — (*)537

Stone, clay, and glass

products — 45,578

Primary metal industries (*)1,109 219,542

Fabricated metal products (*)18 60,993

Office, computing, and

accounting machinery — 1,413,481

Other machinery, except

electrical (*)43 122,308

Electrical and electronic

equipment — 157,589

Motor vehicles and equipment — 257,477

Transportation equipment,

except motor vehicles (*)62 (*)110,672

Instruments and related

products — 124,954

Miscellaneous manufacturing

and manufacturing not

allocable (*)40 7,541

Transportation and public

utilities (*)3,927 65,879

Transportation — 34,140

Water transportation — (*)2,775

All other transportation — 31,365

Communication — (*)41,874

Electric, gas, and sanitary

services (*)3,927 (*)9,866

Wholesale and retail trade — 127,866

Wholesale trade — 76,453

Groceries and related

products — (*)1,104

Machinery, equipment, and

supplies — (*)401

Miscellaneous wholesale

trade — 74,948

Drugs, chemicals, and

allied products — (*)3,476

Petroleum and

petroleum products — (*)202

Other miscellaneous

wholesale trade — 71,270

Retail trade — 61,412

Building materials,

garden supplies, and

mobile home dealers — —

General merchandise

stores — (*)4,772

Food stores — (*)8,380

Automotive dealers and

service stations — (*)3

Apparel and accessory

stores — (*)16,458

Furniture and home

furnishing stores — (*)120

Eating and drinking

places — (*)20,360

All other retail stores — (*)1,319

Finance, Insurance, and real

estate (*)821 739,804

Banking — 432,811

Credit agencies other than

banks (*)53 (*)32,683

Security, commodity brokers,

and services — 21,909

Insurance — 127,280

Insurance agents, brokers,

and service — (*)406

Real estate (*)1 (*)4,390

Holding and other investment

companies, except bank

holding companies (*)767 120,026

Services — 256,519

Hotels and other lodging

places — (*)22,861

Personal services — (*)25,782

Business services — 97,500

Auto repair; miscellaneous

repair services — (*)331

Amusement and recreation

services — (*)8,430

All other services — 101,615

Foreign income and taxes

reported on Form 1118

Foreign taxes

available for credit

Paid or

accrued

Total paid,

accrued,

Major and selected minor and deemed Total

industrial group paid

(43) (44)

All industries 41,177,403 14,385,591

Agriculture, forestry, and

fishing 92,764 12,050

Mining 1,373,720 1,243,607

Metal mining 362,394 331,733

Coal mining (*)261,223 (*)259,972

Oil and gas extraction 746,403 651,109

Nonmetallic minerals, except

fuels (*)3,700 (*)794

Construction 199,582 71,826

General building contractors 37 16,646

Heavy construction

contractors 153,215 53,686

Special trade contractors 10 1,494

Manufacturing 29,421,635 8,603,888

Food and kindred products 2,241,060 495,520

Tobacco manufactures (*)1,203,827 (*)188,564

Textile mill products 16,757 1,940

Apparel and other textile

products 172,086 31,088

Lumber and wood products 13,730 5,504

Furniture and fixtures 27,036 3,279

Paper and allied products 960,791 123,339

Printing and publishing 456,426 180,853

Industrial plastics and

synthetic materials 1,603,614 360,558

Drugs 2,634,113 308,865

Other chemicals 1,040,461 305,207

Petroleum (including

integrated) and coal

products 8,515,584 4,356,562

Rubber and miscellaneous

plastics products 183,813 56,787

Leather and leather products (*)7,578 (*)6,801

Stone, clay, and glass

products 268,950 32,601

Primary metal industries 553,804 100

Fabricated metal products 520,322 114,322

Office, computing, and

accounting machinery 1,913,738 521,522

Other machinery, except

electrical 562,457 126,796

Electrical and electronic

equipment 2,278,200 577,345

Motor vehicles and equipment 2,299,949 344,206

Transportation equipment,

except motor vehicles 383,756 93

Instruments and related

products 1,332,344 225,737

Miscellaneous manufacturing

and manufacturing not

allocable 231,239 43,703

Transportation and public

utilities 441,016 210,323

Transportation 136,210 66,845

Water transportation 28,380 18,158

All other transportation 108 48,687

Communication 195,676 94

Electric, gas, and sanitary

services 109,130 49,610

Wholesale and retail trade 1,383,298 447,046

Wholesale trade 584,179 193,595

Groceries and related

products (*)1,283 (*)527

Machinery, equipment, and

supplies 15,102 4,833

Miscellaneous wholesale

trade 567,795 188,235

Drugs, chemicals, and

allied products 13,298 6,964

Petroleum and

petroleum products (*)152,496 (*)57,416

Other miscellaneous

wholesale trade 402,000 123,835

Retail trade 799,119 253,451

Building materials,

garden supplies, and

mobile home dealers (*)1,605 (*)1,605

General merchandise

stores (*)169,522 (*)27,057

Food stores (*)7,862 (*)7,862

Automotive dealers and

service stations (*)96 (*)96

Apparel and accessory

stores 20,949 13,239

Furniture and home

furnishing store s (*)556 (*)556

Eating and drinking

places 538,885 173,125

All other retail stores 59,643 29,910

Finance, Insurance, and real

estate 6,363,401 3,073,690

Banking 2,749,937 1,668,375

Credit agencies other than

banks 274,011 157,406

Security, commodity brokers,

and services 1,094,989 288,975

Insurance 1,457,471 863,050

Insurance agents, brokers,

and service 120,829 18,023

Real estate 12,922 1,844

Holding and other investment

companies, except bank

holding companies 653,242 76,016

Services 1,901,988 723,161

Hotels and other lodging

places 88,073 52,463

Personal services 30,691 5,778

Business services 1,408,622 484,316

Auto repair; miscellaneous

repair services (*)625 (*)158

Amusement and recreation

services 205,325 138,620

All other services 168,652 41,827

Foreign taxes

available for credit

Paid or accrued

Taxes

Taxes withheld

withheld at at source

Major and selected minor source on on–

industrial group dividends

Interest

(45) (46)

All industries 2,543,654 540,763

Agriculture, forestry, and

fishing (*)3,634 (*)622

Mining 68,695 14,078

Metal mining (*)38,751 (*)7,902

Coal mining (*)98 (*)5,091

Oil and gas extraction (*)29,807 1,036

Nonmetallic minerals, except

fuels (*)38 (*)49

Construction 13,676 (*)771

General building contractors (*)3,113 (*)48

Heavy construction

contractors (*)10,249 (*)454

Special trade contractors (*)314 (*)270

Manufacturing 1,941,938 239,590

Food and kindred products 264,493 6,750

Tobacco manufactures (*)113,266 (*)8,709

Textile mill products (*)557 (*)522

Apparel and other textile

products (*)13,540 (*)271

Lumber and wood products (*)3,119 (*)992

Furniture and fixtures (*)1,915 (*)313

Paper and allied products 60,043 3,731

Printing and publishing 31,881 906

Industrial plastics and

synthetic materials 96,535 9,649

Drugs 166,472 (*)2,178

Other chemicals 92,532 4,000

Petroleum (including

integrated) and coal

products 351,674 74,247

Rubber and miscellaneous

plastics products 20,827 2,164

Leather and leather products (*)170 (*)226

Stone, clay, and glass

products 13,365 852

Primary metal industries 26,663 2,873

Fabricated metal products 49,321 1,258

Office, computing, and

accounting machinery 126 (*)4,798

Other machinery, except

electrical 37,875 6,429

Electrical and electronic

equipment 136,277 74,826

Motor vehicles and equipment 217,015 24,805

Transportation equipment,

except motor vehicles 26,352 1,602

Instruments and related

products 75,666 6,662

Miscellaneous manufacturing

and manufacturing not

allocable 16,645 825

Transportation and public

utilities 46,432 17,745

Transportation 4,582 2,213

Water transportation (*)8 (*)499

All other transportation (*)4,573 1,714

Communication (*)7,494 (*)12,846

Electric, gas, and sanitary

services 34,355 (*)2,687

Wholesale and retail trade 67,474 21,402

Wholesale trade 40,611 17,121

Groceries and related

products (*)51 (*)59

Machinery, equipment, and

supplies 999 346

Miscellaneous wholesale

trade 39,561 16,715

Drugs, chemicals, and

allied products (*)861 (*)22

Petroleum and

petroleum products (*)21,030 (*)2,383

Other miscellaneous

wholesale trade 17,670 14,310

Retail trade 26,863 4,281

Building materials,

garden supplies, and

mobile home dealers (*)2 —

General merchandise

stores (*)5,960 (*)629

Food stores (*)2 (*)229

Automotive dealers and

service stations (*)22 (*)54

Apparel and accessory

stores (*)295 (*)411

Furniture and home

furnishing stores — (*)10

Eating and drinking

places (*)14,349 (*)1,822

All other retail stores (*)6,234 (*)1,126

Finance, Insurance, and real

estate 314,428 240,229

Banking 62,117 129,412

Credit agencies other than

banks 36,107 3,256

Security, commodity brokers,

and services 52,619 44,867

Insurance 96,841 57,715

Insurance agents, brokers,

and service 15,807 (*)123

Real estate 349 (*)11

Holding and other investment

companies, except bank

holding companies 50,590 4,844

Services 87,378 6,326

Hotels and other lodging

places (*)4,979 (*)1,105

Personal services (*)2,125 (*)262

Business services 69,458 3,088

Auto repair; miscellaneous

repair services (5) (*)26

Amusement and recreation

services (*)5,716 (*)724

All other services 5,100 (*)1,120

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or accrued

Taxes

withheld Other

at source taxes

on– paid or

accrued

on–

Major and selected minor

industrial groups Rents

royalties, Branch

and license income

fees

(47) (48)

All industries 1,994,254 5,550,340

Agriculture, forestry, and

fishing (*)2,883 (*)4,128

Mining 6,953 263,095

Metal mining (*)138 (*)155,687

Coal mining — (*)2,923

Oil and gas extraction 6,807 1,023,785

Nonmetallic minerals, except

fuels (*)8 (*)699

Construction (*)854 (*)28,683

General building contractors (*)10 (*)358

Heavy construction

contractors (*)203 (*)28,325

Special trade contractors (*)641 —

Manufacturing 1,418,251 2,871,446

Food and kindred products 83,225 108,863

Tobacco manufactures (*)53,184 (*)12,652

Textile mill products (*)560 (*)111

Apparel and other textile

products 15,758 (*)443

Lumber and wood products (*)1,132 (*)100

Furniture and fixtures 714 (*)58

Paper and allied products 35,440 (*)22,618

Printing and publishing 110,006 (*)7,184

Industrial plastics and

synthetic materials 78,356 137,723

Drugs 58,524 47,723

Other chemicals 112,937 82,687

Petroleum (including

integrated) and coal

products 22,218 2,161,620

Rubber and miscellaneous

plastics products 23,132 (*)9,613

Leather and leather products (*)5,458 (*)939

Stone, clay, and glass

products 7,039 (*)4,649

Primary metal industries 8,913 (*)20,467

Fabricated metal products 11,480 9,197

Office, computing, and

accounting machinery 339,647 (*)49,510

Other machinery, except

electrical 22,604 32,248

Electrical and electronic

equipment 244,448 60,551

Motor vehicles and equipment 30,947 (*)37,371

Transportation equipment,

except motor vehicles 29,521 (*)31,612

Instruments and related

products 106,191 25,503

Miscellaneous manufacturing

and manufacturing not

allocable 16,815 8,005

Transportation and public

utilities 35,319 37,259

Transportation 3,711 (*)24,900

Water transportation (*)723 (*)884

All other transportation 2,988 (*)24,016

Communication (*)30,648 (*)8,037

Electric, gas, and sanitary

services (*)961 (*)4,322

Wholesale and retail trade 107,925 191,286

Wholesale trade 39,812 45,932

Groceries and related

products (*)304 —

Machinery, equipment, and

supplies (*)492 (*)1,660

Miscellaneous wholesale

trade 39,016 44,273

Drugs, chemicals, and

allied products (*)380 (*)73

Petroleum and

petroleum products (*)4,128 (*)7,694

Other miscellaneous

wholesale trade 34,507 36,505

Retail trade 68,113 145,353

Building materials,

garden supplies, and

mobile home dealers (*)1,453 —

General merchandise

stores (*)3,789 (*)14,539

Food stores (*)7,490 (*)142

Automotive dealers and

service stations (*)20 —

Apparel and accessory

stores (*)2,473 (*)8,373

Furniture and home

furnishing stores (*)482 —

Eating and drinking

places 45,347 (*)109,927

All other retail stores 7,059 (*)12,372

Finance, Insurance, and real

estate 14,557 2,091,656

Banking (*)918 1,356,591

Credit agencies other than

banks (*)11,734 (*)90,164

Security, commodity brokers,

and services (*)19 (*)90,053

Insurance (*)381 553,207

Insurance agents, brokers,

and service (*)64 (*)484

Real estate (*)43 (*)496

Holding and other investment

companies, except bank

holding companies (*)1,398 (*)661

Services 407,511 62,787

Hotels and other lodging

places (*)15,152 (*)17,590

Personal services (*)1,867 (*)1,072

Business services 262,213 36,990

Auto repair; miscellaneous

repair services (*)103 —

Amusement and recreation

services (*)110,249 (*)4,795

All other services 17,928 (*)2,340

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or accrued

Other taxes paid

or accrued on–

Major and selected minor Specifically

industrial groups allocable

income Service

[section income

863 (b)]

(49) (50)

All industries 4,600 315,733

Agriculture, forestry, and

fishing — (*)378

Mining (*)121 (*)44,656

Metal mining — (*)3,850

Coal mining — —

Oil and gas extraction (*)121 (*)40,807

Nonmetallic minerals, except — —

fuels

Construction — 27,635

General building contractors — (*)13,118

Heavy construction

contractors — (*)14,249

Special trade contractors — (*)268

Manufacturing 3,554 71,068

Food and kindred products (*)194 (*)5,692

Tobacco manufactures — (*)199

Textile mill products — (*)16

Apparel and other textile

products — (*)494

Lumber and wood products — (*)15

Furniture and fixtures — (*)279

Paper and allied products — (*)386

Printing and publishing (*)7 (*)1,461

Industrial plastics and

synthetic materials (*)439 (*)7,852

Drugs — (*)5,183

Other chemicals — (*)4,883

Petroleum (including

integrated) and coal

products — (*)1,486

Rubber and miscellaneous

plastics products — (*)72

Leather and leather products — (*)7

Stone, clay, and glass

products — (*)1,793

Primary metal industries — (*)2,361

Fabricated metal products — (*)859

Office, computing, and

accounting machinery — (*)1,300

Other machinery, except

electrical (*)807 14,747

Electrical and electronic

equipment (*)1,139 5,809

Motor vehicles and equipment — (*)10,754

Transportation equipment,

except motor vehicles — (*)3,091

Instruments and related

products (*)968 (*)2,162

Miscellaneous manufacturing

and manufacturing not

allocable — (*)167

Transportation and public

utilities — 31,041

Transportation — 26,688

Water transportation — (*)14,635

All other transportation — 12,053

Communication — (*)1,154

Electric, gas, and sanitary

services — (*)3,199

Wholesale and retail trade (*)63 5,184

Wholesale trade (*)63 2,434

Groceries and related

products (*)63 (*)32

Machinery, equipment, and

supplies — (*)26

Miscellaneous wholesale

trade — 2,376

Drugs, chemicals, and

allied products — (*)911

Petroleum and

petroleum products — (*)12

Other miscellaneous

wholesale trade — (*)1,453

Retail trade — (*)2,750

Building materials,

garden supplies, and

mobile home dealers — —

General merchandise

stores — (*)1,046

Food stores — —

Automotive dealers and

service stations — —

Apparel and accessory

stores — (*)81

Furniture and home

furnishing stores — (*)64

Eating and drinking

places — —

All other retail stores — (*)1,559

Finance, Insurance, and real

estate (*)25 45,245

Banking — (*)3,106

Credit agencies other than

banks — (*)2,752

Security, commodity brokers,

and services — (*)6,449

Insurance — 25,218

Insurance agents, brokers,

and service — (*)979

Real estate (*)25 (*)302

Holding and other investment

companies, except bank

holding companies — (*)6,440

Services (*)836 90,526

Hotels and other lodging

places — (*)5,663

Personal services — (*)451

Business services (*)836 58,218

Auto repair; miscellaneous

repair services — (*)11

Amusement and recreation

services — (*)14,500

All other services — 11,684

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or

accrued

Other

taxes

paid or

accrued

on–

Major and selected minor Taxes

industrial groups deemed

Other paid

income

(51) (52)

All industries 3,436,247 26,791,812

Agriculture, forestry, and

fishing (*)406 (*)80,714

Mining 846,008 130,112

Metal mining (*)125,404 (*)30,662

Coal mining (*)251,860 (*)1,251

Oil and gas extraction 468,745 95,294

Nonmetallic minerals, except — (*)2,905

fuels

Construction (*)206 (*)127,756

General building contractors — (*)20,013

Heavy construction

contractors (*)206 (*)99,529

Special trade contractors — (*)8,214

Manufacturing 2,058,040 20,817,747

Food and kindred products 26,302 1,745,539

Tobacco manufactures (*)554 (*)1,015,263

Textile mill products (*)174 14,817

Apparel and other textile

products (*)582 (*)140,998

Lumber and wood products (*)147 (*)8,226

Furniture and fixtures — (*)23,757

Paper and allied products (*)1,122 837,452

Printing and publishing 29,409 275,573

Industrial plastics and

synthetic materials 30,005 1,243,056

Drugs 28,785 2,325,248

Other chemicals 8,168 735,254

Petroleum (including

integrated) and coal

products 1,745,317 4,159,021

Rubber and miscellaneous

plastics products (*)979 127,026

Leather and leather products — (*)777

Stone, clay, and glass

products (*)4,903 236,348

Primary metal industries (*)38,742 453,785

Fabricated metal products 42,207 406,000

Office, computing, and

accounting machinery (*)532 1,392,216

Other machinery, except

electrical 12,086 435,661

Electrical and electronic

equipment 54,294 1,700,855

Motor vehicles and equipment 23,312 1,955,743

Transportation equipment,

except motor vehicles (*)592 290,986

Instruments and related

products 8,585 1,106,607

Miscellaneous manufacturing

and manufacturing not

allocable (*)1,245 187,536

Transportation and public

utilities 42,527 230,693

Transportation 4,752 69,365

Water transportation (*)1,409 (*)10,222

All other transportation (*)3,343 59,142

Communication (*)33,689 (*)101,808

Electric, gas, and sanitary

services (*)4,087 59,520

Wholesale and retail trade 53,712 936,253

Wholesale trade 47,622 390,584

Groceries and related

products (*)17 (*)756

Machinery, equipment, and

supplies (*)1,310 10,269

Miscellaneous wholesale

trade 46,294 379,559

Drugs, chemicals, and

allied products (*)4,736 (*)6,315

Petroleum and

petroleum products (*)22,169 (*)95,080

Other miscellaneous

wholesale trade 19,390 278,165

Retail trade 6,090 545,668

Building materials,

garden supplies, and

mobile home dealers (*)151 —

General merchandise

stores (*)1,094 (*)142,465

Food stores — —

Automotive dealers and

service stations — —

Apparel and accessory

stores (*)1,606 (*)7,710

Furniture and home

furnishing stores — —

Eating and drinking

places (*)1,679 (*)365,760

All other retail stores (*)1,560 (*)29,733

Finance, Insurance, and real

estate 367,551 3,289,711

Banking 116,231 1,081,562

Credit agencies other than

banks (*)13,392 116,605

Security, commodity brokers,

and services 94,968 806,014

Insurance 129,689 594,420

Insurance agents, brokers,

and service (*)567 (*)102,806

Real estate (*)619 (*)11,077

Holding and other investment

companies, except bank

holding companies 12,083 577,226

Services 67,796 1,178,826

Hotels and other lodging

places (*)7,974 (*)35,610

Personal services — (*)24,913

Business services 53,513 924,307

Auto repair; miscellaneous

repair services (*)19 (*)467

Amusement and recreation

services (*)2,637 (*)66,704

All other services (*)3,654 126,825

(*) Data should be used with caution because of the small number of returns on which the,, were based.

(1) Interest Charge-Domestic International Sales Corporation (IC-DISC) and Domestic International Sales Corporation (DISC).

(2) In addition to the credits shown in columns 12-14, this is after reduction by other credits, such as the jobs credit and the investment credit, which are not shown separately in this table.

(3) Included in gross income (less loss), columns 16-22. See text for additional information.

(4) Included in deductions, columns 26-35. See text for additional information.

(5) Less than $500.

Although the amounts of “oil and gas income” and deductions (columns 23 and 36, respectively) are included in the summary columns (i.e., columns 16 through 22 and 26 through 35), these amounts are also reported separately (on Form 1118, Schedule I, Reduction of Oil and Gas Extraction Taxes) because oil and gas extraction income is subject to special rules under Internal Revenue Code section 907, which effectively requires a separate limitation calculation for taxes related to oil and gas extraction income. This may result in a reduction of foreign taxes available for credit. Reductions in creditable oil and gas extraction income taxes are included with several other types of reductions in column 41 of Table 1 and column 27 of Table 2.

Table 2.–U.S. Corporation Returns with a Foreign Tax Credit: Foreign Income and Tax Reported on Form 1118, by Industrial Division and Income Type

[All figures are estimates based on samples–money amounts are in thousands of dollars]

Foreign

income

and taxes

reported on

Form 1118

Gross

income

(less

loss)

Number

Industrial division and income type of

returns Total

(1) (2)

ALL INDUSTRIES

All Income types 6,100 331,078,563

Passive income 2,282 5,339,523

High withholding tax interest 317 1,801.18

Financial services income 388 91,085,476

Shipping income 53 12,991.993

Dividends from noncontrolled

section 902 corporations 552 3,622,878

Dividends from an IC-DISC or former

DISC(1) 10 (*)4,624

Income related to sections 904(g)

or 901(j) 34 93,009

Certain distributions from a FSC

or former FSC(2) 82 3,350,547

All other income from outside

the United States 3,820 212,789,336

AGRICULTURE, FORESTRY, AND FISHING

All Income types 187 451,268

Passive income 9 (*)30,445

High withholding tax interest — —

Financial services income 83 (*)199

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States 95 407,693

MINING

All income types 123 7,434,377

Passive income 31 73,337

High withholding tax interest 7 (*)39,540

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 7 (*)22,375

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 106 7,285,398

CONSTRUCTION

All income types 155 2,038,420

Passive income 44 12,010

High withholding tax interest 4 (*)1,486

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 28 (*)10,337

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States 89 2,000,581

MANUFACTURING

All income types 1,742 173,377,185

Passive income 610 3,641,530

High withholding tax interest 97 251,769

Financial services income 72 5,388,571

Shipping income 22 461,649

Dividends from noncontrolled

section 902 corporations 239 2,655,002

Dividends from an IC-DISC or former

DISC(1) 10 (*)4,624

Income related to sections 904(g)

or 901(j) 22 43,903

Certain distributions from a FSC or

former FSC(2) 61 2,930,821

All other income from outside the

United States 1,461 157,999,316

TRANSPORTATION AND PUBLIC UTILITIES

All income types 157 25,774,839

Passive income 68 96,730

High withholding tax interest 13 18,326

Financial services income 8 (*)69,080

Shipping income 18 12,460,444

Dividends from noncontrolled

section 902 corporations 18 58,994

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 108 12,901,472

WHOLESALE AND RETAIL TRADE

All income types 995 12,803,872

Passive income 512 303,797

High withholding tax interest 70 131,133

Financial services income 4 (*)2,064,444

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 44 76,938

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 477 10,027,194

FINANCE, INSURANCE, AND REAL ESTATE

All income types 1,649 89,842,449

Passive income 862 981,513

High withholding tax interest 101 1,336,967

Financial services income 192 83,504,994

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 175 719,219

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) 5 (*)111,006

All other income from outside the

United States 504 3,175,309

SERVICES

All income types 1,091 19,556,152

Passive income 145 200,161

High withholding tax interest 26 21,956

Financial services income 27 54,954

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 37 78,954

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) 13 (*)149,477

All other income from outside the

United States 980 18,992,373

Foreign income

and taxes

reported on

Form 1118

Gross income

(less loss)

Foreign

dividend

Industrial division and income type income

Dividends resulting

from foreign

taxes deem

paid

(gross-up)

(3) (4)

ALL INDUSTRIES

All Income types 62,621,960 26,714,995

Passive income 2,210,281 266,983

High withholding tax interest 37,306 24,167

Financial services income 9,733,764 3,322,731

Shipping income 198,863 33,450

Dividends from noncontrolled

section 902 corporations 2,431,219 1,123,148

Dividends from an IC-DISC or former

DISC(1) (*)4,624 —

Income related to sections 904(g)

or 901(j) 36,776 (*)3,061

Certain distributions from a FSC

or former FSC(2) 3,350,547 —

All other income from outside

the United States 44,618,581 21,941,455

AGRICULTURE, FORESTRY, AND FISHING

All Income types 125,187 (*)80,714

Passive income (*)648 (*)37

High withholding tax interest — —

Financial services income (*)199 —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States (*)111,614 (*)80,472

MINING

All income types 361,131 130,112

Passive income 25,387 (*)1,261

High withholding tax interest (*)1,718 (*)1,507

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)21,397 (*)933

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 299,850 125,454

CONSTRUCTION

All income types 285,837 (*)127,756

Passive income (*)2,326 (*)79

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)7,166 (*)4,125

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States 262,448 (*)123,533

MANUFACTURING

All income types 47,179,226 20,797,867

Passive income 1,847,705 234,193

High withholding tax interest (*)11,007 (*)3,347

Financial services income 1,574,623 601,009

Shipping income 70,693 (*)13,189

Dividends from noncontrolled

section 902 corporations 1,740,510 880,464

Dividends from an IC-DISC or former

DISC(1) (*)4,624 —

Income related to sections 904(g)

or 901(j) (*)25,803 (*)2,993

Certain distributions from a FSC or

former FSC(2) 2,930,821 —

All other income from outside the

United States 38,973,440 19,032,632

TRANSPORTATION AND PUBLIC UTILITIES

All income types 911,852 230,893

Passive income 33,973 2,140

High withholding tax interest (*)196 (*)111

Financial services income (*)2,862 (*)1,567

Shipping income (*)120,032 (*)19,655

Dividends from noncontrolled

section 902 corporations 36,795 (*)13,734

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 584,406 193,487

WHOLESALE AND RETAIL TRADE

All income types 1,817,238 936,253

Passive income 55,291 6,192

High withholding tax interest (*)12,783 (*)4,405

Financial services income (*)332,777 (*)136,444

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 58,095 17,371

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,357,968 771,838

FINANCE, INSURANCE, AND REAL ESTATE

All income types 9,898,422 3,282,854

Passive income 160,686 12,306

High withholding tax interest (*)11,602 (*)14,797

Financial services income 7,795,642 2,582,059

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 510,763 183,770

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)111,006 —

All other income from outside the

United States 1,101,115 469,337

SERVICES

All income types 2,243,070 1,178,746

Passive income 84,265 10,776

High withholding tax interest — —

Financial services income (*)25,375 (*)663

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 55,618 22,547

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)149,477 —

All other income from outside the

United States 1,927,739 1,144,691

Foreign income

and taxes

reported on

Form 1118

Gross income

(less loss)

Industrial division and income type Rents,

Interest royalties,

and

license

fees

(5) (6)

ALL INDUSTRIES

All Income types 56,197,146 45,127,226

Passive income 1,954,546 237,488

High withholding tax interest 1,739,703 —

Financial services income 46,320,659 1,639,406

Shipping income 60,024 321,125

Dividends from noncontrolled

section 902 corporations 16,839 1,451

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)16,036 (*)1,532

Certain distributions from a FSC

or former FSC(2) — —

All other income from outside

the United States 6,089,339 42,926,224

AGRICULTURE, FORESTRY, AND FISHING

All Income types (*)20,435 (*)24,079

Passive income (*)11,007 —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2)

All other income from outside the

United States (*)9,428 (*)24,079

MINING

All income types 248,704 104,357

Passive income 43,165 (*)1,024

High withholding tax interest (*)36,315 —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)45 —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 169,179 103,333

CONSTRUCTION

All income types 12,990 11,130

Passive income (*)7,447 —

High withholding tax interest (*)1,486 —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States 4,058 (*)11,019

MANUFACTURING

All income types 7,852,821 30,863,256

Passive income 1,118,876 160,067

High withholding tax interest 237,414 —

Financial services income 1,703,083 (*)401,843

Shipping income (*)33,491 (*)182,563

Dividends from noncontrolled

section 902 corporations 4,639 (*)1,254

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)15,900 —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 4,739,417 30,117,528

TRANSPORTATION AND PUBLIC UTILITIES

All income types 331,882 1,452,033

Passive income 24,385 (*)2,638

High withholding tax interest 18,019 —

Financial services income (*)24,855 (*)18,446

Shipping income (*)18,804 (*)97,742

Dividends from noncontrolled

section 902 corporations (*)728 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 244,957 1,333,208

WHOLESALE AND RETAIL TRADE

All income types 1,662,167 1,253,371

Passive income 113,097 46,391

High withholding tax interest 113,946 —

Financial services income (*)1,066,718 (*)3,496

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)1,469 (*)4

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 366,938 1,203,480

FINANCE, INSURANCE, AND REAL ESTATE

All income types 45,883,318 1,282,097

Passive income 555,710 14,437

High withholding tax interest 1,310,567 —

Financial services income 43,508,796 1,213,370

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)9,040 (*)162

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 293,956 54,127

SERVICES

All income types 384,829 10,136,904

Passive income 80,860 12,931

High withholding tax interest 21,956 —

Financial services income (*)17,207 (*)2,250

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)918 (*)31

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 261,407 10,079,450

Foreign income

and taxes

reported on

Form 1118

Gross income

(less loss)

Industrial division and income type

Service Other

income income

(7) (8)

ALL INDUSTRIES

All Income types 28,536,992 111,880,244

Passive income (*)20,142 650,084

High withholding tax interest — —

Financial services income 8,799,775 21,269,141

Shipping income 7,487,809 4,890,722

Dividends from noncontrolled

section 902 corporations (*)346 49,874

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)10 35,595

Certain distributions from a FSC

or former FSC(2) — —

All other income from outside

the United States 12,228,910 84,984,827

AGRICULTURE, FORESTRY, AND FISHING

All Income types — (*)200,854

Passive income — (*)18,754

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States — (*)182,099

MINING

All income types 1,530,404 5,059,670

Passive income — (*)2,501

High withholding tax interest — —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 1,530,404 5,057,169

CONSTRUCTION

All income types 1,571,354 29,353

Passive income — (*)2,158

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)-974

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States 1,571,354 28,168

MANUFACTURING

All income types 3,613,995 63,100,021

Passive income (*)1,859 278,830

High withholding tax interest — —

Financial services income (*)3,248 1,100,723

Shipping income (*)94,091 67,623

Dividends from noncontrolled

section 902 corporations — 28,135

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)10 (*)-802

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,514,787 61,621,512

TRANSPORTATION AND PUBLIC UTILITIES

All income types 8,353,511 14,494,867

Passive income — (*)33,594

High withholding tax interest

Financial services income (*)16,679 (*)4,671

Shipping income 7,393,718 (*)4,810,494

Dividends from noncontrolled

section 902 corporations — (*)7,736

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 943,115 9,602,300

WHOLESALE AND RETAIL TRADE

All income types 293,189 6,641,857

Passive income — (*)82,827

High withholding tax interest — —

Financial services income — (*)525,009

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 293,189 6,033,780

FINANCE, INSURANCE, AND REAL ESTATE

All income types 9,304,827 20,811,230

Passive income (*)11,735 226,639

High withholding tax interest — —

Financial services income 8,778,027 19,627,100

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)346 (*)15,138

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 514,420 742,353

SERVICES

All income types 3,870,011 1,742,562

Passive income (*)6,548 4,781

High withholding tax interest — —

Financial services income (*)1,822 (*)7,637

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)-161

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,861,641 1,717,445

Foreign income

and taxes

reported on

Form 1118

Oil and

Industrial division and income type gas

extraction

income Foreign

(less branch

loss)(3) income(3)

(9) (10)

ALL INDUSTRIES

All Income types 22,073,603 75,499,359

Passive income — 137,482

High withholding tax interest — (*)289,986

Financial services income — 38,537,482

Shipping income — (*)825,914

Dividends from noncontrolled

section 902 corporations — (*)11,165

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — (*)328

Certain distributions from a FSC

or former FSC(2) — —

All other income from outside

the United States 22,073,503 35,697,003

AGRICULTURE, FORESTRY, AND FISHING

All Income types — (*)3,346

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States — (*)3,346

MINING

All income types 2,462,356 1,626,846

Passive income — (*)11,022

High withholding tax interest — —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 2,462,356 1,514,824

CONSTRUCTION

All income types — (*)18,518

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States — (*)18,518

MANUFACTURING

All income types 19,462,765 29,497,116

Passive income — 101,008

High withholding tax interest — (*)163

Financial services income — (*)487,300

Shipping income — (*)15,348

Dividends from noncontrolled

section 902 corporations — (*)9,927

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 19,462,765 28,883,371

TRANSPORTATION AND PUBLIC UTILITIES

All income types (*)97,909 1,508,962

Passive income — (*)912

High withholding tax interest — (*)29

Financial services income — (*)979

Shipping income — (*)809,897

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)97,909 697,144

WHOLESALE AND RETAIL TRADE

All income types — 2,378,382

Passive income — (*)525

High withholding tax interest — (*)11

Financial services income — (*)113,723

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States — 2,260,794

FINANCE, INSURANCE, AND REAL ESTATE

All income types (*)50,473 38,366,308

Passive income — (*)1,190

High withholding tax interest — (*)289,783

Financial services income — 37,929,682

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)1,190

Dividends from an IC-DISC or former

DISC(1) —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)50,473 144,464

SERVICES

All income types — 2,203,882

Passive income — (*)22,825

High withholding tax interest — —

Financial services income — (*)5,798

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)47

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States — 2,174,542

Foreign income

and taxes

reported on

Form 1118

Deductions

Specifically

Industrial division and income type allocable

income Total

[section

863 (b)](3)

(11) (12)

ALL INDUSTRIES

All Income types 27,442,900 180,252,217

Passive income 8,605 1,567,855

High withholding tax interest (*)60,689 714,873

Financial services income (*)2,837,549 60,918,131

Shipping income (*)4,632,002 11,735,401

Dividends from noncontrolled

section 902 corporations (*)27,940 575,079

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — 21,833

Certain distributions from a FSC

or former FSC(2) — 3,320,900

All other income from outside

the United States 19,876,115 101,398,146

AGRICULTURE, FORESTRY, AND FISHING

All Income types (*)23,441 (*)157,071

Passive income — (*)2,674

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States (*)23,441 (*)142,516

MINING

All income types (*)227,702 4,358,129

Passive income — 24,331

High withholding tax interest — (*)3,649

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)5,746

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States (*)227,702 4,324,085

CONSTRUCTION

All income types (*)1,853 1,432,678

Passive income — (*)1,308

High withholding tax interest — (*)85

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)303

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States (*)1,853 1,417,010

MANUFACTURING

All income types 18,229,264 73,719,774

Passive income (*)6,790 1,093,050

High withholding tax interest — 64,463

Financial services income — 2,393,497

Shipping income — 405,473

Dividends from noncontrolled

section 902 corporations (*)855 374,857

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — 18,710

Certain distributions from a FSC or

former FSC(2) — 2,929,407

All other income from outside the

United States 18,221,619 66,440,317

TRANSPORTATION AND PUBLIC UTILITIES

All income types 4,786,644 21,807,501

Passive income (*)39 58,341

High withholding tax interest — (*)4,754

Financial services income — (*)52,720

Shipping income (*)4,632,002 11,247,543

Dividends from noncontrolled

section 902 corporations — 24,311

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 154,603 10,283,479

WHOLESALE AND RETAIL TRADE

All income types 321,383 7,581,111

Passive income (*)618 112,596

High withholding tax interest (*)66 31,586

Financial services income — (*)1,282,820

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — 17,191

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 320,669 6,132,110

FINANCE, INSURANCE, AND REAL ESTATE

All income types 2,981,923 59,551,857

Passive income (*)763 192,913

High withholding tax interest (*)60,623 598,557

Financial services income (*)2,1337,549 57,158,073

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)25,721 129,788

Dividends from an IC-DISC or former

DISC(1)

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — (*)80,546

All other income from outside the

United States (*)57,268 1,391,947

SERVICES

All income types 870,720 11,644,095

Passive income (*)395 82,641

High withholding tax interest — 11,779

Financial services income — 30,731

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)1,364 22,873

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — (*)151,705

All other income from outside the

United States 868,961 11,266,682

Foreign income

and taxes

reported on

Form 1118

Deductions

Deductions allocable

to specific types

of income

Rental,

royalty and

licensing

expenses

Industrial division and income type

Deprecia-

tion,

Total depletion,

and

amortization

(13) (14)

ALL INDUSTRIES

All Income types 91,896,475 1,398,793

Passive income 287,622 6,092

High withholding tax interest 91,753 —

Financial services income 20,568,569 427,029

Shipping income 10,374,066 (*)144,558

Dividends from noncontrolled

section 902 corporations -55,913 (*)49

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,512 —

Certain distributions from a FSC

or former FSC(2) 3,307,487 —

All other income from outside

the United States 57,321,380 821,064

AGRICULTURE, FORESTRY, AND FISHING

All Income types (*)103,257 —

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States (*)91,387 —

MINING

All income types 3,641,828 32,740

Passive income (*)13,938 (*)2

High withholding tax interest (*)2,471 —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)305 —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States 3,624,965 32,738

CONSTRUCTION

All income types 1,384,323 (*)344

Passive income (*)193 —

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)115 —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States 1,370,053 (*)227

MANUFACTURING

All income types 38,268,158 227,380

Passive income 85,454 (*)495

High withholding tax interest 32,720

Financial services income 1,226,680 (*)7,826

Shipping income 282,201 —

Dividends from noncontrolled

section 902 corporations 2,343 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,194 —

Certain distributions from a FSC or

former FSC(2) 2,928,794 —

All other income from outside the

United States 33,708,772 219,059

TRANSPORTATION AND PUBLIC UTILITIES

All income types 15,182,848 390,514

Passive income 24,207 —

High withholding tax interest (*)30 —

Financial services income (*)14,425 —

Shipping income 10,030,111 (*)94,668

Dividends from noncontrolled

section 902 corporations (*)3,289 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 4,977,199 (*)295,846

WHOLESALE AND RETAIL TRADE

All income types 5,500,646 11,822

Passive income 19,896 (*)2,140

High withholding tax interest (*)12,333 —

Financial services income (*)482,423 —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)4,737 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 4,980,702 9,682

FINANCE, INSURANCE, AND REAL ESTATE

All income types 20,046,027 424,700

Passive income 129,348 (*)2,142

High withholding tax interest 43,219

Financial services income 18,836,046 419,202

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations -69,199 (*)49

Dividends from an IC-DISC or former

DISC(1)

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)71,589 —

All other income from outside the

United States 1,035,024 (*)3,307

SERVICES

All income types 7,769,388 311,291

Passive income 14,587 (*)1,312

High withholding tax interest (*)979 —

Financial services income (*)8,845 (*)1

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)2,498 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)147,860 —

All other income from outside the

United States 7,533,278 260,205

Foreign income

and taxes

reported on

Form 1118

Deductions

Deductions allocable

to specific types

of income

Rental,

royalty and

licensing

expenses

Industrial division and income type

Service

expenses

Other

(15) (16)

ALL INDUSTRIES

All Income types 6,341,066 12,567,040

Passive income 21,223 9,678

High withholding tax interest — —

Financial services income 1,387,737 505,651

Shipping income 210,886 (*)4,409,949

Dividends from noncontrolled

section 902 corporations (*)-2,972 (*)282

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC

or former FSC(2) — —

All other income from outside

the United States 4,724,182 7,631,481

AGRICULTURE, FORESTRY, AND FISHING

All Income types (*)4,327 —

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a

FSC or former FSC(2) (**) (**)

All other income from outside the

United States (*)4,327 —

MINING

All income types (*)25,055 (*)965,385

Passive income (*)606 —

High withholding tax interest — —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a

FSC or former FSC(2) — —

All other income from outside

the United States (*)24,449 (*)965,385

CONSTRUCTION

All income types (*)1,047 1,349,263

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or

former DISC(1) — —

Income related to sections

904(g) or 901(j) (**) (**)

Certain distributions from a FSC

or former FSC(2) (**) (**)

All other income from outside the

United States (*)987 1,349,263

MANUFACTURING

All income types 2,009,134 1,878,048

Passive income 5,916 (*)4,952

High withholding tax interest

Financial services income (*)10,688 —

Shipping income (*)12,975 (*)2,955

Dividends from noncontrolled

section 902 corporations (*)126 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,979,430 1,870,141

TRANSPORTATION AND PUBLIC UTILITIES

All income types 297,757 5,054,410

Passive income — —

High withholding tax interest — —

Financial services income — (*)13,273

Shipping income (*)197,851 (*)4,406,979

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 99,905 634,158

WHOLESALE AND RETAIL TRADE

All income types 268,570 103,417

Passive income (*)9,372 (*)46

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 259,199 103,370

FINANCE, INSURANCE, AND REAL ESTATE

All income types 1,561,553 701,672

Passive income 3,308 *3,684

High withholding tax interest

Financial services income 1,375,909 491,025

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)-3,098 (*)257

Dividends from an IC-DISC or former

DISC(1)

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 185,434 206,706

SERVICES

All income types 2,173,612 2,504,847

Passive income (*)2,021 (*)996

High withholding tax interest — —

Financial services income (*)1,141 (*)1,353

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)25

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,170,451 2,502,459

Foreign income and taxes

reported on Form 1118

Deductions

Deductions

not allocable

to specific

Industrial division and income type Other types of

deductions income

allocable

to specific

types of Total

income

(17) (18)

ALL INDUSTRIES

All income types 71,599,587 88,355,742

Passive income 250,628 1,280,233

High withholding tax interest 91,753 623,120

Financial services income 18,248,152 40,349,562

Shipping income 5,608,673 1,361,335

Dividends from noncontrolled

section 902 corporations -53,271 630,992

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,512 20,321

Certain distributions from a FSC or

former FSC(2) 3,307,487 (*)13,414

All other income from outside the

United States 44,144,653 44,076,767

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)98,929 (*)53,814

Passive income — (*)2,674

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)87,059 (*)51,129

MINING

All income types 2,618,649 716,301

Passive income (*)13,329 10,394

High withholding tax interest (*)2,471 (*)1,177

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)305 (*)5,441

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,602,393 699,120

CONSTRUCTION

All income types 33,670 48,365

Passive income (*)193 (*)1,115

High withholding tax interest — (*)85

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)115 (*)188

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 19,576 46,956

MANUFACTURING

All income types 34,153,595 35,451,616

Passive income 74,091 1,007,596

High withholding tax interest 32,720 31,743

Financial services income 1,208,167 1,166,817

Shipping income 266,270 123,272

Dividends from noncontrolled

section 902 corporations 2,217 372,515

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,194 17,517

Certain distributions from a FSC or

former FSC(2) 2,928,794 (*)612

All other income from outside the

United States 29,640,143 32,731,645

TRANSPORTATION AND PUBLIC UTILITIES

All income types 9,440,167 6,624,654

Passive income 24,207 34,134

High withholding tax interest (*)30 (*)4,723

Financial services income (*)1,152 (*)38,295

Shipping income (*)5,330,612 1,217,432

Dividends from noncontrolled

section 902 corporations (*)3,289 21,022

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 3,947,289 5,306,281

WHOLESALE AND RETAIL TRADE

All income types 5,116,837 2,080,465

Passive income 8,338 92,700

High withholding tax interest (*)12,333 19,253

Financial services income (*)482,423 (*)800,397

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)4,737 12,454

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 4,608,450 1,151,409

FINANCE, INSURANCE, AND REAL ESTATE

All income types 17,358,102 39,506,830

Passive income 120,213 63,565

High withholding tax interest 43,219 555,338

Financial services income 16,549,910 38,322,027

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations -66,407 198,987

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)71,589 (*)8,956

All other income from outside the

United States 639,578 356,923

SERVICES

All income types 2,779,638 3,874,707

Passive income 10,257 68,055

High withholding tax interest (*)979 (*)10,800

Financial services income (*)6,350 (*)21,885

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)2,474 20,374

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)147,860 (*)3,845

All other income from outside the

United States 2,600,163 3,733,404

Foreign income and taxes

reported on Form 1118

Deductions

Deductions not allocable to

Industrial division and income type specific types of income

Research

and Interest

development

(19) (20)

ALL INDUSTRIES

All income types 9,232,584 35,536,186

Passive income 103,227 760,349

High withholding tax interest 609 439,650

Financial services income 36,005 22,521,147

Shipping income (*)8,239 209,898

Dividends from noncontrolled

section 902 corporations 34,835 384,191

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,641 17,149

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 9,048,029 11,203,801

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)22,388 (*)12,424

Passive income — (*)1,376

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)22,388 (*)11,045

MINING

All income types (*)28,646 184,390

Passive income (*)171 4,669

High withholding tax interest — (*)805

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)5 (*)2,499

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)28,470 176,362

CONSTRUCTION

All income types (*)468 (*)7,693

Passive income — (*)255

High withholding tax interest — (*)36

Financial services income —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)164

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)468 (*)7,238

MANUFACTURING

All income types 7,811,540 11,129,424

Passive income 101,961 623,040

High withholding tax interest 469 16,112

Financial services income 18,840 952,179

Shipping income (*)2,151 89,249

Dividends from noncontrolled

section 902 corporations 34,563 245,078

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)196 17,122

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 7,653,359 9,186,645

TRANSPORTATION AND PUBLIC UTILITIES

All income types 312,900 737,028

Passive income (*)215 29,988

High withholding tax interest (*)124 (*)4,543

Financial services income (*)2,002 (*)14,669

Shipping income (*)6,088 105,764

Dividends from noncontrolled

section 902 corporations (*)4 19,100

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)303,022 562,936

WHOLESALE AND RETAIL TRADE

All income types 3,548 1,515,266

Passive income (*)284 42,443

High withholding tax interest — 15,780

Financial services income — (*)795,443

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)202 10,815

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,061 646,534

FINANCE, INSURANCE, AND REAL ESTATE

All income types (*)15,939 21,279,488

Passive income — 9,672

High withholding tax interest (*)15 392,021

Financial services income (*)15,122 20,746,427

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — 89,029

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)802 42,320

SERVICES

All income types 1,037,155 670,472

Passive income (*)595 48,905

High withholding tax interest — (*)10,352

Financial services income (*)40 (*)12,402

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)61 17,504

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,036,459 570,720

Foreign income and taxes

reported on Form 1118

Deductions

Deductions

not allocable

Industrial division and income type to specific

types of Deductions

income from oil

and gas

extraction

Other income(4)

(21) (22)

ALL INDUSTRIES

All income types 41,326,284 7,428,558

Passive income 355,995 —

High withholding tax interest 180,697 —

Financial services income 16,235,351 —

Shipping income 1,143,184 —

Dividends from noncontrolled

section 902 corporations 205,419 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)1,530 —

Certain distributions from a FSC or

former FSC(2) (*)13,414 —

All other income from outside the

United States 23,190,694 7,428,558

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)19,002 —

Passive income (*)1,297 —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)17,696 —

MINING

All income types 498,967 868,345

Passive income (*)4,999 —

High withholding tax interest (*)372 —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)2,936 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 490,544 868,345

CONSTRUCTION

All income types 33,623 —

Passive income (*)681 —

High withholding tax interest (*)48 —

Financial services income

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)24 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)32,859 —

MANUFACTURING

All income types 16,068,492 6,485,088

Passive income 261,417 —

High withholding tax interest 14,921 —

Financial services income 195,798 —

Shipping income 31,873 —

Dividends from noncontrolled

section 902 corporations 91,247 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)198 —

Certain distributions from a FSC or

former FSC(2) (*)612 —

All other income from outside the

United States 15,472,425 6,485,088

TRANSPORTATION AND PUBLIC UTILITIES

All income types 5,570,089 (*)73,170

Passive income 3,931 —

High withholding tax interest (*)56 —

Financial services income (*)21,537 —

Shipping income (*)1,105,566 —

Dividends from noncontrolled

section 902 corporations (*)1,918 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 4,435,787 (*)73,170

WHOLESALE AND RETAIL TRADE

All income types 513,866 —

Passive income 39,667 —

High withholding tax interest 2,491 —

Financial services income (*)4,954 —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)646 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 466,207 —

FINANCE, INSURANCE, AND REAL ESTATE

All income types 16,592,139 (*)1,955

Passive income 30,412 —

High withholding tax interest 162,417 —

Financial services income 16,003,505 —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 106,096 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)8,956 —

All other income from outside the

United States 280,736 (*)1,955

SERVICES

All income types 2,030,007 —

Passive income 13,590 —

High withholding tax interest (*)391 —

Financial services income (*)9,443 —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 2,543 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)3,845 —

All other income from outside the

United States 1,994,439 —

Foreign income and taxes

reported on Form 1118

Taxable

Industrial division and income type income Adjustments

(less loss) to taxable

before income

adjustments

(23) (24)

ALL INDUSTRIES

All income types 150,826,345 5,235,512

Passive income 3,771,668 182,164

High withholding tax interest 1,086,304 91,658

Financial services income 30,167,345 1,344,757

Shipping income 1,256,592 78,080

Dividends from noncontrolled

section 902 corporations 3,047,800 -52,670

Dividends from an IC-DISC or former

DISC(1) (*)4,624 (*)207

Income related to sections 904(g)

or 901(j) 71,176 -7,808

Certain distributions from a FSC or

former FSC(2) 29,647 -4,300

All other income from outside the

United States 111,391,190 3,603,423

AGRICULTURE, FORESTRY, AND FISHING

All income types 294,197 (*)1,149

Passive income (*)27,772 (*)-7

High withholding tax interest — —

Financial services income (*)199 —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 265,177 (*)1,157

MINING

All income types 3,076,248 175,459

Passive income 49,006 (*)-236

High withholding tax interest (*)35,892 (*)8

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)16,629 (*)13

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,961,313 171,503

CONSTRUCTION

All income types 605,741 (*)1,108

Passive income 10,702 (*)-56

High withholding tax interest (*)1,401 (*)69

Financial services income

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)10,034 (*)-980

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 583,571 (*)2,076

MANUFACTURING

All income types 99,657,411 3,262,098

Passive income 2,548,480 172,918

High withholding tax interest 187,306 3,877

Financial services income 2,995,074 71,569

Shipping income 56,176 -11,136

Dividends from noncontrolled

section 902 corporations 2,280,144 -39,086

Dividends from an IC-DISC or former

DISC(1) (*)4,624 (*)207

Income related to sections 904(g)

or 901(j) 25,193 -12,535

Certain distributions from a FSC or

former FSC(2) (*)1,414 -532

All other income from outside the

United States 91,558,999 3,076,817

TRANSPORTATION AND PUBLIC UTILITIES

All income types 3,967,338 213,035

Passive income 38,389 -5,899

High withholding tax interest 13,572 (*)-36

Financial services income (*)16,360 (*)1,165

Shipping income 1,212,901 (*)115,224

Dividends from noncontrolled

section 902 corporations 34,683 -2,445

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 2,617,993 104,529

WHOLESALE AND RETAIL TRADE

All income types 5,022,761 173,569

Passive income 191,201 12,781

High withholding tax interest 99,547 (*)23,273

Financial services income (*)781,624 (*)72,037

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 59,747 -3,373

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,895,084 73,629

FINANCE, INSURANCE, AND REAL ESTATE

All income types 30,290,592 1,226,961

Passive income 788,600 -6,108

High withholding tax interest 738,410 65,094

Financial services income 26,346,922 1,201,542

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 589,432 -3,837

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)30,461 (*)78

All other income from outside the

United States 1,783,361 -29,809

SERVICES

All income types 7,912,057 182,141

Passive income 117,520 8,772

High withholding tax interest 10,177 (*)-626

Financial services income 24,223 (*)-1,555

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 56,081 -2,962

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)2,228 (*)-3,846

All other income from outside the

United States 7,725,692 203,521

Foreign income and taxes

reported on Form 1118

Foreign taxes

available

Taxable for credit

Industrial division and income type income

(less loss) Total

after

adjustments

(25) (26)

ALL INDUSTRIES

All income types 145,590,834 48,085,447

Passive income 3,589,504 511,692

High withholding tax interest 994,646 364,612

Financial services income 28,822,587 6,948,549

Shipping income 1,178,512 101,867

Dividends from noncontrolled

section 902 corporations 3,100,470 1,665,957

Dividends from an IC-DISC or former

DISC(1) (*)4,416 —

Income related to sections 904(g)

or 901(j) 78,984 12,248

Certain distributions from a FSC or

former FSC(2) 33,947 —

All other income from outside the

United States 107,787,767 38,480,522

AGRICULTURE, FORESTRY, AND FISHING

All income types 293,048 93,607

Passive income (*)27,778 (*)44

High withholding tax interest — —

Financial services income (*)199 (*)8

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 264,020 93,311

MINING

All income types 2,900,789 1,478,532

Passive income 49,242 7,080

High withholding tax interest (*)35,884 (*)8,279

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)16,616 (*)5,350

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,789,810 1,449,764

CONSTRUCTION

All income types 604,633 214,161

Passive income 10,758 1,471

High withholding tax interest (*)1,332 (*)239

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)11,014 (*)6,272

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 581,495 206,160

MANUFACTURING

All income types 96,356,313 35,004,424

Passive income 2,375,562 420,617

High withholding tax interest 183,429 39,131

Financial services income 2,923,505 914,374

Shipping income 67,313 (*)22,864

Dividends from noncontrolled

section 902 corporations 2,319,230 1,271,350

Dividends from an IC-DISC or former

DISC(1) (*)4,416 —

Income related to sections 904(g)

or 901(j) 37,729 (*)3,205

Certain distributions from a FSC or

former FSC(2) (*)1,946 —

All other income from outside the

United States 88,482,183 32,332,884

TRANSPORTATION AND PUBLIC UTILITIES

All income types 3,754,303 522,968

Passive income 44,288 4,272

High withholding tax interest 13,608 2,313

Financial services income (*)15,195 (*)2,048

Shipping income 1,097,677 78,395

Dividends from noncontrolled

section 902 corporations 37,128 (*)23,051

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 2,513,465 411,385

WHOLESALE AND RETAIL TRADE

All income types 4,849,202 1,511,164

Passive income 178,419 17,455

High withholding tax interest 76,274 16,965

Financial services income (*)709,587 (*)196,044

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 63,120 24,816

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,821,454 1,255,622

FINANCE, INSURANCE, AND REAL ESTATE

All income types 29,063,631 7,102,084

Passive income 794,708 39,131

High withholding tax interest 673,315 295,044

Financial services income 25,145,380 5,832,945

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 593,268 293,940

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) 30,382 —

All other income from outside the

United States 1,813,170 640,422

SERVICES

All income types

Passive income 7,729,918 2,158,508

High withholding tax interest 108,748 21,622

Financial services income 10,803 2,642

Shipping income (*)25,778 (*)2,182

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) 59,043 40,935

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (*)1,618 —

All other income from outside the

United States 7,522,171 2,090,975

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Industrial division and income type

Reduction

for certain Carryover

foreign

taxes

(27) (28)

ALL INDUSTRIES

All income types 1,772,035 8,680,079

Passive income (*)91 50,045

High withholding tax interest — 135,343

Financial services income (*)53 610,496

Shipping income — (*)28,846

Dividends from noncontrolled

section 902 corporations (*)247 412,984

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)3,558 (*)1,655

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,768,086 7,440,710

AGRICULTURE, FORESTRY, AND FISHING

All income types — (*)844

Passive income — —

High withholding tax interest — —

Financial services income — (*)8

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States — (*)817

MINING

All income types 456,676 561,488

Passive income — (*)2,473

High withholding tax interest — (*)1,939

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)1,364

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 453,132 555,712

CONSTRUCTION

All income types — 14,579

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)1,062

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States — 13,517

MANUFACTURING

All income types 1,310,611 6,893,400

Passive income (*)90 39,972

High withholding tax interest — 5,558

Financial services income — (*)171,848

Shipping income — (*)8,829

Dividends from noncontrolled

section 902 corporations (*)247 326,061

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)14 (*)33

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,310,260 6,341,098

TRANSPORTATION AND PUBLIC UTILITIES

All income types (*)3,627 85,879

Passive income — (*)685

High withholding tax interest — (*)228

Financial services income — (*)45

Shipping income — (*)20,017

Dividends from noncontrolled

section 902 corporations — (*)3,465

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)3,927 59,936

WHOLESALE AND RETAIL TRADE

All income types — 127,866

Passive income — 2,670

High withholding tax interest — (*)772

Financial services income — (*)59

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)6,420

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States — 117,844

FINANCE, INSURANCE, AND REAL ESTATE

All income types (*)821 739,504

Passive income (*)1 1,798

High withholding tax interest — 126,329

Financial services income (*)53 438,093

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — 58,280

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)767 114,986

SERVICES

All income types

Passive income — 256,519

High withholding tax interest — 2,446

Financial services income — (*)517

Shipping income — (*)442

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — 16,313

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States — 236,801

Foreign income and taxes

reported on Form 1118

Foreign taxes available

Industrial division and income type for credit

Paid or

Total accrued

paid,

accrued,

and deemed Total

paid

(29) (30)

ALL INDUSTRIES

All income types 41,177,403 14,365,591

Passive income 461,738 186,992

High withholding tax interest 229,269 204,927

Financial services income 6,338,106 2,960,498

Shipping income 73,022 39,571

Dividends from noncontrolled

section 902 corporations 1,253,220 129,740

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) 14,151 (*)11,009

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 32,807,898 10,852,854

AGRICULTURE, FORESTRY, AND FISHING

All income types 92,764 12,050

Passive income (*)44 (*)8

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 92,495 12,022

MINING

All income types 1,373,720 1,243,607

Passive income 4,606 3,346

High withholding tax interest (*)6,340 (*)4,833

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)3,985 (*)3,052

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,347,184 1,221,720

CONSTRUCTION

All income types 199,582 71,826

Passive income 1,471 1,392

High withholding tax interest (*)239 (*)239

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)5,210 (*)1,085

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 192,643 69,110

MANUFACTURING

All income types 29,421,635 8,603,888

Passive income 380,734 138,780

High withholding tax interest 33,573 30,050

Financial services income 742,526 113,080

Shipping income (*)14,035 (*)846

Dividends from noncontrolled

section 902 corporations 945,536 65,109

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)3,186 (*)194

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 27,302,045 8,255,828

TRANSPORTATION AND PUBLIC UTILITIES

All income types 441,016 210,323

Passive income 3,588 1,448

High withholding tax interest 2,085 1,974

Financial services income (*)2,002 (*)435

Shipping income 58,379 38,724

Dividends from noncontrolled

section 902 corporations 19,587 (*)5,853

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 355,375 161,889

WHOLESALE AND RETAIL TRADE

All income types 1,383,298 447,046

Passive income 14,784 8,593

High withholding tax interest 16,193 11,788

Financial services income (*)195,985 (*)59,541

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 18,396 1,025

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,137,778 365,940

FINANCE, INSURANCE, AND REAL ESTATE

All income types 6,363,401 3,073,690

Passive income 37,334 25,026

High withholding tax interest 168,714 153,917

Financial services income 5,394,905 2,786,364

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 235,660 51,521

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 526,203 56,861

SERVICES

All income types

Passive income 1,901,988 723,161

High withholding tax interest 19,176 8,400

Financial services income 2,125 2,125

Shipping income (*)1,740 (*)1,077

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) 24,621 2,074

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,854,175 709,484

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Industrial division and income type Taxes Taxes withheld

withheld at at source on–

source on

dividends Interest

(31) (32)

ALL INDUSTRIES

All income types 2,543,654 540,763

Passive income 92,815 21,487

High withholding tax interest (*)2,334 202,593

Financial services income 280,921 131,480

Shipping income (*)701 (*)404

Dividends from noncontrolled

section 902 corporations 126,859 (*)104

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)189 —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,039,835 184,695

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)3,634 (*)622

Passive income (*)6 (*)2

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)3,608 (*)620

MINING

All income types 68,695 14,078

Passive income (*)266 (*)1,291

High withholding tax interest — (*)4,833

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)1,640 (*)5

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)66,789 7,949

CONSTRUCTION

All income types 13,676 (*)771

Passive income (*)1,099 (*)266

High withholding tax interest — (*)239

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)1,085 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)11,492 (*)267

MANUFACTURING

All income types 1,941,938 239,590

Passive income 74,690 13,956

High withholding tax interest (*)1,925 28,126

Financial services income (*)35,587 (*)51,226

Shipping income (*)700 (*)27

Dividends from noncontrolled

section 902 corporations 64,512 (*)14

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)189 —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,764,335 146,241

TRANSPORTATION AND PUBLIC UTILITIES

All income types 46,432 17,745

Passive income 736 614

High withholding tax interest — 1,974

Financial services income (*)19 —

Shipping income — (*)377

Dividends from noncontrolled

section 902 corporations (*)5,826 (*)27

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 39,851 14,753

WHOLESALE AND RETAIL TRADE

All income types 67,474 21,402

Passive income 868 1,309

High withholding tax interest — 11,788

Financial services income (*)21,289 (*)438

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 1,024 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 44,293 7,867

FINANCE, INSURANCE, AND REAL ESTATE

All income types 314,428 240,229

Passive income 11,120 3,431

High withholding tax interest (*)409 153,508

Financial services income 224,026 79,706

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations 50,680 (*)58

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 28,192 3,526

SERVICES

All income types 6,326

Passive income 87,378 618

High withholding tax interest 4,031 2,125

Financial services income — (*)110

Shipping income — (**)

Dividends from noncontrolled

section 902 corporations (**) —

Dividends from an IC-DISC or former

DISC(1) 2,071 —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 81,276 3,473

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or accrued

Taxes Other taxes

withheld at paid or

Industrial division and income type source on– accrued on–

Rents,

royalties, Branch

and license income

fees

(33) (34)

ALL INDUSTRIES

All income types 1,994,254 5,550,340

Passive income 20,787 9,488

High withholding tax interest — —

Financial services income 19,833 2,118,429

Shipping income (*)2,220 (*)19,084

Dividends from noncontrolled

section 902 corporations 267 (*)120

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — (*)7,277

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,951,146 3,395,943

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)2,883 (*)4,128

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)2,883 (*)4,128

MINING

All income types 6,963 263,096

Passive income (*)428 (*)279

High withholding tax interest — —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 6,825 255,704

CONSTRUCTION

All income types (*)854 (*)28,683

Passive income — —

High withholding tax interest — —

Financial services income

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)854 (*)28,683

MANUFACTURING

All income types 1,418,251 2,871,446

Passive income 13,858 6,893

High withholding tax interest — —

Financial services income (*)3,148 (*)21,442

Shipping income — (*)-19

Dividends from noncontrolled

section 902 corporations (*)206 (*)120

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — (*)5

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,401,039 2,843,006

TRANSPORTATION AND PUBLIC UTILITIES

All income types 36,319 37,259

Passive income (*)6 (*)39

High withholding tax interest — —

Financial services income — (*)342

Shipping income (*)2,220 (*)19,102

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 33,093 17,777

WHOLESALE AND RETAIL TRADE

All income types 107,925 191,286

Passive income 5,891 (*)33

High withholding tax interest — —

Financial services income (*)4,113 (*)9,386

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)(1) —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 97,920 181,707

FINANCE, INSURANCE, AND REAL ESTATE

All income types 14,557 2,091,656

Passive income (*)215 (*)527

High withholding tax interest — —

Financial services income 12,427 2,086,994

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)58 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 1,857 4,134

SERVICES

All income types 407,511 62,787

Passive income 690 (*)1,717

High withholding tax interest

Financial services income (*)144 (*)265

Shipping income (**)

Dividends from noncontrolled

section 902 corporations (*)(3) —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 406,675 60,805

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or accrued

Other taxes paid or

accrued on–

Industrial division and income type Specifically

allocable

income Service

[section income

863(b)]

(35) (36)

ALL INDUSTRIES

All income types 4,600 315,733

Passive income (*)194 864

High withholding tax interest — —

Financial services income — 39,042

Shipping income — (*)14,425

Dividends from noncontrolled

section 902 corporations (*)8 (*)2

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 4,397 261,400

AGRICULTURE, FORESTRY, AND FISHING

All income types — (*)378

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States — (*)378

MINING

All income types (*)121 (*)44,666

Passive income — —

High withholding tax interest — —

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)121 (*)44,656

CONSTRUCTION

All income types — 27,635

Passive income — (*)27

High withholding tax interest — —

Financial services income

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States — 27,608

MANUFACTURING

All income types 3,554 71,068

Passive income (*)194 —

High withholding tax interest — —

Financial services income — (*)1,260

Shipping income — —

Dividends from noncontrolled

section 902 corporations (*)8 —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,352 69,807

TRANSPORTATION AND PUBLIC UTILITIES

All income types — 31,041

Passive income — —

High withholding tax interest — —

Financial services income — (*)75

Shipping income — (*)14,425

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States — 16,541

WHOLESALE AND RETAIL TRADE

All income types (*)63 5,184

Passive income — —

High withholding tax interest — —

Financial services income — —

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)63 5,184

FINANCE, INSURANCE, AND REAL ESTATE

All income types (*)25 45,245

Passive income — (*)79

High withholding tax interest — —

Financial services income — 37,371

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — (*)2

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)25 7,794

SERVICES

All income types (*)836 90,528

Passive income — (*)758

High withholding tax interest

Financial services income — (*)336

Shipping income

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States (*)836 89,432

Foreign income and taxes

reported on Form 1118

Foreign taxes available

for credit

Paid or

accrued

Other taxes

paid or

accrued on–

Industrial division and income type Taxes

deemed

Other paid

Income

(37) (38)

ALL INDUSTRIES

All income types 3,438,247 26,791,812

Passive income 41,355 274,746

High withholding tax interest — 24,342

Financial services income 370,793 3,377,608

Shipping income (*)2,737 33,450

Dividends from noncontrolled

section 902 corporations (*)2,380 1,123,480

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (*)3,544 (*)3,142

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 3,015,437 21,955,044

AGRICULTURE, FORESTRY, AND FISHING

All income types (*)406 (*)80,714

Passive income — (*)37

High withholding tax interest — —

Financial services income — —

Shipping income — —

Dividends from noncontrolled

section 902 corporations (**) (**)

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — —

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)406 (*)80,472

MINING

All income types 846,008 130,112

Passive income (*)1,381 (*)1,261

High withholding tax interest — (*)1,507

Financial services income (**) (**)

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)1,408 (*)933

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 839,676 125,454

CONSTRUCTION

All income types (*)206 (*)127,756

Passive income — (*)79

High withholding tax interest — —

Financial services income

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — —

Dividends from an IC-DISC or former

DISC(1) — (*)4,125

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States (*)206 (*)123,533

MANUFACTURING

All income types 2,058,040 20,817,747

Passive income 29,188 241,954

High withholding tax interest — (*)3,522

Financial services income (*)416 629,446

Shipping income (*)138 (*)13,189

Dividends from noncontrolled

section 902 corporations (*)249 880,427

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) — (*)2,993

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 2,028,050 19,046,217

TRANSPORTATION AND PUBLIC UTILITIES

All income types 42,527 230,693

Passive income (*)53 2,140

High withholding tax interest — (*)111

Financial services income — (*)1,567

Shipping income (*)2,600 (*)19,655

Dividends from noncontrolled

section 902 corporations — (*)13,734

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) (**) (**)

All other income from outside the

United States 39,874 193,487

WHOLESALE AND RETAIL TRADE

All income types 53,712 936,253

Passive income (*)492 6,192

High withholding tax interest — (*)4,405

Financial services income (*)24,315 (*)136,444

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations — 17,371

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 28,905 771,838

FINANCE, INSURANCE, AND REAL ESTATE

All income types 367,551 3,289,711

Passive income 9,653 12,308

High withholding tax interest — (*)14,797

Financial services income 345,840 2,608,540

Shipping income (**) (**)

Dividends from noncontrolled

section 902 corporations (*)724 184,139

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 11,334 469,342

SERVICES

All income types 67,796 1,178,826

Passive income (*)588 10,776

High withholding tax interest

Financial services income (*)222 (*)663

Shipping income

Dividends from noncontrolled

section 902 corporations — 22,547

Dividends from an IC-DISC or former

DISC(1) — —

Income related to sections 904(g)

or 901(j) (**) (**)

Certain distributions from a FSC or

former FSC(2) — —

All other income from outside the

United States 66,986 1,144,691

(*) Data should be used with caution because of the small number of returns on which they were based.

(**) Not shown to avoid disclosure of information about specific taxpayers. However, the data are included in the appropriate totals.

(1) Interest Charge – Domestic International Sales Corporation (IC-DISC) and Domestic International Sales Corporation (DISC).

(2) Foreign Sales Corporation (FSC)

(3) Included in gross income (less loss), columns 2-8 See text for additional information.

(4) Included in deductions, columns 12-21 See text for additional information.

NOTE: Totals for income types include small amounts for categories not listed separately.

Section 863(b) income (income partly within and partly without the United States) and foreign branch income are also included in the summary amounts reported in columns 16 through 22 of Table 1, and are also reported separately (on Form 1118, Schedule F, Gross Income and Definitely Allocable Deductions From Sources Outside the U.S. Under Section 863(b) and for Foreign Branches) in columns 24 and 25 of Table 1.

Total deductions not definitely allocable to specific types of income (column 32) are equal to the sum of Table 1, columns 33 through 35, relating to research and development, interest, and any other not definitely allocable expenses (any differences are due to taxpayer reporting variations). Total foreign-source gross income (Table 1, column 16) less total foreign deductions (Table 1, column 26) is equal to foreign-source taxable income before adjustments (Table 1, column 37).

Adjustments to foreign-source taxable income (reported in column 38 of Table 1) include the allocation of: (1) current-year foreign-source losses, (2) overall foreign losses, and (3) current-year U.S.-source losses as well as the recapture of prior-year overall foreign losses, and recharacterization of prior-year foreign-source losses. These adjustments (reported on Schedule J, Separate Limitation Loss Allocations and Other Adjustments Necessary to Determine Numerators of Limitation Fractions, Year-End Recharacterization Balances, and Overall Foreign Loss Account Balances) affect the numerator of the limitation fraction used to compute the foreign tax credit. The income after adjustments (the numerator of the limitation fraction) is reported in column 39 of Table 1. The limitation fraction, foreign-source taxable divided by total taxable income from all sources, is applied to the total U.S. tax against which the credit is allowed to determine any limitation on the foreign tax credit. Taxpayers are required to calculate this limitation for each statutory income category.

Statistics on foreign taxes are reported in columns 40 through 52 of Table 1. Data on foreign taxes paid, accrued, and deemed paid (through related foreign corporations or their subsidiaries) from Form 1118, Schedule B, Foreign Tax Credit–Corporation, are reported in columns 43 through 52 of Table 1. Total foreign taxes paid or accrued (Table 1, column 44) are the sum of columns 45 through 51 (any differences are due to taxpayer reporting variations). Table 1, column 42 shows carryovers of excess or “unused” taxes from prior years, which can be added to the 1996 pool of creditable foreign taxes. Total foreign taxes paid, accrued, and deemed paid, plus carryover, are then adjusted for certain items (e.g., reductions of foreign taxes related to oil and gas extraction income under Internal Revenue code section 907, reductions of foreign taxes related to income earned in sanctioned countries under Internal Revenue code section 901(j), and other reductions of creditable taxes) in column 41. Thus, total foreign taxes available for credit (Table 1., column 40) are equal to total foreign taxes paid, accrued, and deemed paid (column 43), plus any carryover of prior-year excess or “unused” foreign taxes (column 42), less any reduction in foreign taxes (column 41).

Tables 2 and 3 are similar in column format to Table 1 except that they do not provide data from Form 1120–U.S. Corporation Income Tax Return. Table 2 presents data reported by industrial grouping and separate statutory limitation income category, while Table 3 presents data by selected geographic region and country.

Table 3.–U.S. Corporation Returns with a Foreign Tax Credit: Foreign Income and Tax Reported on Form 1118, by Selected Country to Which Foreign Tax Was Paid

[All figures are estimates based on samples–money amounts are in thousands of dollars]

Foreign

income

and taxes

reported on

Form 1118

Gross income

(less loss)

Selected country Number of Total

returns

(1) (2)

All countries 6,100 331,078,563

Canada 1,906 26,878,811

Latin America, total 1,465 35,629,448

Mexico 1,086 8,089,267

Central America, total 300 1,610,631

Belize 40 12,014

Costa Rica 157 127,715

El Salvador 105 130,348

Guatemala 157 213,402

Honduras 102 68,762

Nicaragua 62 33,118

Panama 196 996,836

Central America not allocable 9 (*)28,436

Caribbean countries, total 333 3,248,846

Cayman Islands (British) 163 1,631,351

Dominican Republic 129 282,779

Haiti 42 74,382

Jamaica 118 190,288

Trinidad and Tobago 119 722,076

Other Caribbean countries 120 347,970

South America, total 840 19,646,423

Argentina 507 4,505,112

Bolivia 116 65,422

Brazil 546 7,788,097

Chile 366 2,617,481

Colombia 321 1,811,521

Ecuador 191 219,846

Paraguay 78 69,161

Peru 234 1,103,126

Uruguay 133 262,849

Venezuela 370 1,030,724

Other South America 60 173,085

Latin America not allocable 28 3,034,281

Other Western Hemisphere, total 333 5,192,952

Bahamas 126 2,065,908

Bermuda 222 2,385,635

Netherlands Antilles 94 476,362

Other British West Indies 98 215,737

All other Western Hemisphere 62 49,309

Europe, total 2,691 126,490,604

European Economic Community, total 2,463 106,005,108

Belgium 402 5,583,463

Denmark 274 959,292

France (including Andorra) 703 10,522,674

Germany 733 16,621,569

Greece 167 948,891

Ireland 272 3,387,746

Italy (including San Marino) 544 7,613,777

Luxembourg 89 436,163

Netherlands 830 11,366,633

Portugal 205 547,369

Spain 580 3,469,094

United Kingdom 1,706 44,541,213

Other European Economic

Community 5 (*)7,224

Other West European countries,

total 854 13,628,346

Austria 253 1,030,325

Finland 252 677,343

Liechtenstein 12 27,684

Monaco 20 13,533

Norway 260 3,137,083

Sweden 524 2,221,479

Switzerland 464 5,600,233

Turkey 183 834,588

Other West European countries 79 58,835

West European countries

not allocable 3 (*)27,244

East European countries, total 393 2,371,513

Romania 56 55,482

Former Soviet Union 180 1,207,047

Other East Europe 339 1,108,984

Europe not allocable 53 4,485,638

Africa, total 519 5,678,937

North Africa, total 178 1,328,512

Algeria 41 161,177

Egypt 136 1,033,000

Libya 8 (*)11,425

Morocco 70 78,606

Other North Africa 59 44,305

East Africa, total 111 283,077

Ethiopia 26 53,863

Kenya 70 145,474

Tanzania 22 6,245

Uganda 18 4,577

Other East Africa 59 72,919

West and Central Africa, total 174 3,337,627

Gabon 30 111,342

Ghana 44 103,169

Liberia 31 100,971

Nigeria 91 1,923,360

Zaire 26 90,486

Other West and Central Africa 97 1,006,299

Southern Africa, total 399 726,097

Malawi 17 15,354

Zimbabwe 54 36,730

South Africa (including Namibia) 390 643,582

Zambia 20 5,621

Other Southern Africa 23 24,811

Africa not allocable 13 3,623

Asia, total 1,804 74,982,034

Middle East, total 508 4,782,645

Bahrain 75 322,812

Iran 25 8,168

Iraq 5 (*)1,007

Israel 379 644,342

Kuwait 84 97,177

Lebanon 61 107,322

Qatar 66 150,438

Saudi Arabia 188 1,825,527

United Arab Emirates 132 713,867

Other areas of the

Arabian Peninsula 66 692,043

Other Middle East 121 219,941

Southern and Southeast Asia, total 889 19,852,401

Bangladesh 38 60,999

India 319 1,048,166

Indonesia 346 5,418,739

Malaysia 380 2,027,674

Pakistan 136 436,641

Philippines 306 1,690,336

Singapore 478 6,718,144

Sri Lanka 66 41,247

Thailand 354 2,127,333

Vietnam 69 56,841

Other Southern and

Southeast Asia 87 226,281

Eastern Asia, total 1,462 48,660,437

China 385 1,884,281

Hong Kong 415 3,626,126

Japan 510 7,298,441

South Korea 1,198 31,708,641

Taiwan 468 3,337,489

Other Eastern Asia 30 805,457

Asia not allocable 44 1,686,551

Oceania, total 881 11,233,599

Australia 827 9,273,285

New Zealand 348 1,644,453

Other Oceania 81 315,861

Puerto Rico and U.S.

Possessions, total 505 4,094,328

Puerto Rico 443 3,213,921

U.S. Possessions, total 180 880,407

American Samoa 26 65,496

Guam 129 382,594

Virgin Islands 90 276,718

Other U.S. Possessions 26 155,599

Country not stated 2,449 37,542,678

Interest Charge-Domestic

International Sales

Corporation dividends(1) 10 (*)4,624

Foreign Sales Corporation

dividends(1) 82 3,350,547

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Selected country Dividends Foreign

divided

income

resulting

from

foreign

taxes

deemed

paid

(gross-up)

(3) (4)

All countries 62,621,960 26,714,995

Canada 6,142,279 3,720,752

Latin America, total 5,826,181 1,737,345

Mexico 851,028 412,922

Central America, total 286,733 84,206

Belize (*)2,875 (*)906

Costa Rica 12,180 3,088

El Salvador 4,571 (*)1,626

Guatemala 6,637 1,969

Honduras (*)4,859 (*)3,466

Nicaragua — —

Panama 255,611 73,151

Central America not allocable — —

Caribbean countries, total 957,469 88,624

Cayman Islands (British) 739,210 61,704

Dominican Republic 75,280 16,848

Haiti — —

Jamaica (*)30,929 (*)1,345

Trinidad and Tobago (*)17,248 (*)6,991

Other Caribbean countries 94,802 1,736

South America, total 3,730,934 1,151,593

Argentina 792,803 364,005

Bolivia (*)2,367 (*)458

Brazil 2,090,173 617,468

Chile 386,192 38,065

Colombia 141,304 43,899

Ecuador 18,791 5,035

Paraguay (*)5,001 (*)2,854

Peru 63,232 39,285

Uruguay 51,724 4,543

Venezuela 179,287 35,983

Other South America (*)59 —

Latin America not allocable (*)18 —

Other Western Hemisphere, total 2,106,312 177,782

Bahamas 462,717 16,763

Bermuda 1,265,206 107,124

Netherlands Antilles 287,260 39,126

Other British West Indies 80,325 12,948

All other Western Hemisphere (*)10,804 (*)1,820

Europe, total 31,158,366 14,039,633

European Economic Community, total 26,028,343 12,133,989

Belgium 1,138,048 414,823

Denmark 94,653 44,601

France (including Andorra) 2,838,519 1,203,524

Germany 4,325,350 2,895,594

Greece 36,952 18,659

Ireland 861,339 116,615

Italy (including San Marino) 2,090,389 1,264,641

Luxembourg 184,301 37,661

Netherlands 4,780,105 2,379,121

Portugal 171,584 66,641

Spain 770,069 298,141

United Kingdom 8,736,288 3,393,969

Other European Economic

Community (*)747 —

Other West European countries,

total 4,047,991 1,378,224

Austria 432,897 203,353

Finland 92,741 25,954

Liechtenstein (*)24,319 (*)1,002

Monaco (*)683 (*)227

Norway 162,359 42,932

Sweden 784,000 259,533

Switzerland 2,450,007 791,195

Turkey 92,999 52,302

Other West European countries (*)7,986 (*)1,725

West European countries

not allocable — —

East European countries, total 301,308 79,972

Romania (*)6 (*)1

Former Soviet Union 173,259 7,428

Other East Europe 128,043 72,543

Europe not allocable (*)780,723 (*)447,448

Africa, total 1,048,460 497,062

North Africa, total 73,098 22,400

Algeria — —

Egypt 46,207 12,046

Libya (*)10,494 —

Morocco (*)10,064 (*)6,791

Other North Africa (*)6,332 (*)3,563

East Africa, total 35,201 22,395

Ethiopia — —

Kenya 18,620 13,582

Tanzania (*)2,615 (*)673

Uganda (*)1,492 (*)976

Other East Africa 12,475 (*)7,164

West and Central Africa, total 833,564 385,417

Gabon (*)91,529 (*)2,041

Ghana (*)36,564 (*)21,455

Liberia 74,016 (*)6,051

Nigeria 456,112 195,699

Zaire (*)1,854 (*)555

Other West and Central Africa (*)173,488 (*)159,616

Southern Africa, total 106,597 66,849

Malawi (*)13,801 (*)1,030

Zimbabwe 16,513 (*)12,656

South Africa (including Namibia) 64,260 49,505

Zambia (*)4,650 (*)19

Other Southern Africa (*)7,373 (*)3,639

Africa not allocable — —

Asia, total 9,356,739 5,343,514

Middle East, total 159,930 45,188

Bahrain (*)7,382 (*)103

Iran (*)384 —

Iraq — —

Israel 55,940 18,334

Kuwait (*)758 (*)347

Lebanon (*)569 (*)58

Qatar — —

Saudi Arabia 46,822 16,514

United Arab Emirates (*)40,961 (*)9,025

Other areas of the

Arabian Peninsula (*)140 (*)5

Other Middle East 6,973 (*)800

Southern and Southeast Asia, total 2,533,561 917,277

Bangladesh (*)96 (*)138

India 45,699 28,405

Indonesia 584,186 323,512

Malaysia 278,347 89,725

Pakistan 4,856 3,431

Philippines 227,610 97,361

Singapore 886,133 119,363

Sri Lanka (*)1,839 (*)919

Thailand 496,097 252,209

Vietnam — —

Other Southern and

Southeast Asia (*)8,698 (*)2,215

Eastern Asia, total 6,653,981 4,381,048

China 81,442 7,567

Hong Kong 401,700 110,950

Japan 1,830,660 280,437

South Korea 4,040,787 3,843,378

Taiwan 298,886 138,716

Other Eastern Asia (*)506 —

Asia not allocable (*)9,267 —

Oceania, total 2,352,123 1,017,574

Australia 1,571,138 779,843

New Zealand 733,254 227,006

Other Oceania 47,731 10,724

Puerto Rico and U.S.

Possessions, total 355,526 91,882

Puerto Rico 266,257 82,286

U.S. Possessions, total 89,268 9,595

American Samoa (*)45,000 —

Guam (*)6,755 (*)2,998

Virgin Islands (*)6,075 (*)2,080

Other U.S. Possessions (*)31,438 (*)4,518

Country not stated 920,804 89,452

Interest Charge-Domestic

International Sales

Corporation dividends(1) (*)4,624 —

Foreign Sales Corporation

dividends(1) 3,350,547 —

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Selected country Interest Rents,

royalties,

and

license

fees

(5) (6)

All countries 56,197,146 45,127,226

Canada 3,704,938 3,041,637

Latin America, total 10,191,960 3,135,268

Mexico 1,272,774 955,208

Central America, total 250,722 293,642

Belize 653 (*)206

Costa Rica 10,241 22,536

El Salvador 31,311 8,131

Guatemala 25,451 13,781

Honduras 4,199 4,287

Nicaragua (*)5,306 1,953

Panama 152,520 243,136

Central America not allocable (*)21,042 (*)-390

Caribbean countries, total 795,125 67,825

Cayman Islands (British) 674,573 15,148

Dominican Republic 25,013 9,355

Haiti 11,818 (*)867

Jamaica 26,116 12,278

Trinidad and Tobago 30,662 3,590

Other Caribbean countries 26,942 26,587

South America, total 5,184,073 1,805,251

Argentina 1,531,243 484,675

Bolivia 22,331 4,125

Brazil 2,574,177 812,518

Chile 559,862 152,336

Colombia 142,478 102,295

Ecuador 51,514 22,556

Paraguay 20,688 3,184

Peru 51,996 47,238

Uruguay 96,090 16,392

Venezuela 117,682 155,371

Other South America (*)16,012 (*)4,560

Latin America not allocable (*)2,689,266 (*)13,342

Other Western Hemisphere, total 1,909,092 47,492

Bahamas 1,250,553 5,166

Bermuda 570,105 28,986

Netherlands Antilles 77,325 6,043

Other British West Indies 9,711 2,455

All other Western Hemisphere (*)1,397 4,842

Europe, total 21,796,051 21,152,881

European Economic Community, total 19,942,107 18,535,735

Belgium 502,549 811,771

Denmark 45,946 283,016

France (including Andorra) 1,513,875 2,615,512

Germany 1,207,770 4,673,909

Greece 634,873 91,503

Ireland 162,028 1,726,790

Italy (including San Marino) 1,265,057 1,668,314

Luxembourg 55,207 53,016

Netherlands 510,100 1,506,793

Portugal 36,030 163,578

Spain 656,064 1,155,798

United Kingdom 13,346,252 3,785,734

Other European Economic

Community (*)6,355 —

Other West European countries,

total 1,535,698 2,082,650

Austria 74,798 262,782

Finland 80,299 222,433

Liechtenstein (*)1,177 (*)959

Monaco (*)1,462 (*)26

Norway 402,475 135,321

Sweden 236,196 552,216

Switzerland 359,989 775,795

Turkey 367,277 120,877

Other West European countries 12,023 10,827

West European countries

not allocable — (*)1,412

East European countries, total 223,979 436,757

Romania (*)14,219 9,279

Former Soviet Union 126,111 133,707

Other East Europe 83,649 293,771

Europe not allocable (*)94,266 97,739

Africa, total 295,697 327,805

North Africa, total 102,671 37,086

Algeria (*)195 (*)3,868

Egypt 71,627 24,272

Libya — —

Morocco 6,190 8,277

Other North Africa (*)24,659 670

East Africa, total 31,109 16,598

Ethiopia (*)3,770 (*)5,173

Kenya 19,175 5,141

Tanzania (*)288 (*)340

Uganda — (*)776

Other East Africa (*)7,877 5,169

West and Central Africa, total 60,639 14,605

Gabon (*)13,084 —

Ghana (*)483 (*)-15

Liberia (*)12,276 —

Nigeria 2,271 8,805

Zaire (*)1,134 (*)30

Other West and Central Africa 31,391 5,784

Southern Africa, total 99,664 259,514

Malawi (*)99 (*)1

Zimbabwe (*)319 2,365

South Africa (including Namibia) 98,743 245,321

Zambia (*)258 (*)181

Other Southern Africa (*)246 (*)11,646

Africa not allocable (*)1,615 (*)2

Asia, total 9,112,767 13,328,501

Middle East, total 553,044 362,678

Bahrain 255,482 29,432

Iran (*)18 (*)-4,042

Iraq — (*)289

Israel 103,131 128,000

Kuwait (*)1,535 8,059

Lebanon (*)13,881 13,679

Qatar 3,129 7,366

Saudi Arabia 45,899 106,590

United Arab Emirates 103,653 15,604

Other areas of the

Arabian Peninsula 7,041 49,372

Other Middle East 19,275 8,329

Southern and Southeast Asia, total 3,368,523 2,534,830

Bangladesh (*)17,856 2,410

India 443,804 83,331

Indonesia 435,217 139,111

Malaysia 105,951 209,460

Pakistan 200,575 5,605

Philippines 275,639 163,908

Singapore 1,388,121 1,704,305

Sri Lanka 9,498 (*)337

Thailand 347,827 207,696

Vietnam (*)5,702 (*)666

Other Southern and

Southeast Asia (*)138,332 18,001

Eastern Asia, total 5,183,248 10,247,264

China 87,365 468,620

Hong Kong 788,678 630,985

Japan 1,650,396 487,248

South Korea 1,882,289 7,611,540

Taiwan 773,214 1,047,306

Other Eastern Asia (*)1,306 (*)1,585

Asia not allocable (*)7,952 183,709

Oceania, total 1,188,400 1,201,239

Australia 950,010 1,039,240

New Zealand 201,618 153,280

Other Oceania 36,771 8,719

Puerto Rico and U.S.

Possessions, total 1,009,305 161,180

Puerto Rico 781,503 130,004

U.S. Possessions, total 227,802 31,176

American Samoa (*)6,124 (*)2,413

Guam 101,528 23,957

Virgin Islands 108,615 4,019

Other U.S. Possessions (*)11,535 (*)785

Country not stated 6,988,936 2,731,223

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Gross income (less loss)

Selected country Service Other

income income

(7) (8)

All countries 28,536,992 111,880,244

Canada 1,084,419 9,184,786

Latin America, total 1,837,188 12,901,506

Mexico 398,143 4,199,192

Central America, total 56,025 639,303

Belize (*)322 7,053

Costa Rica 11,004 68,666

El Salvador 4,685 80,025

Guatemala 20,122 145,442

Honduras 3,690 48,260

Nicaragua (*)470 25,388

Panama 15,733 256,685

Central America not allocable — (*)7,783

Caribbean countries, total 92,436 1,247,366

Cayman Islands (British) (*)3,361 137,354

Dominican Republic 11,152 145,132

Haiti (*)2,568 59,129

Jamaica 26,151 93,469

Trinidad and Tobago 28,683 634,902

Other Caribbean countries 20,522 177,381

South America, total 1,098,652 6,675,921

Argentina 325,587 1,006,799

Bolivia 17,792 18,349

Brazil 226,717 1,467,044

Chile 110,620 1,370,405

Colombia 79,038 1,302,507

Ecuador 15,092 106,859

Paraguay (*)3,134 34,300

Peru 55,407 845,968

Uruguay 28,378 65,722

Venezuela 233,917 308,484

Other South America (*)2,968 149,485

Latin America not allocable (*)191,932 139,724

Other Western Hemisphere, total 74,036 878,238

Bahamas 25,240 305,468

Bermuda 28,530 385,683

Netherlands Antilles (*)6,373 60,235

Other British West Indies 1,993 108,305

All other Western Hemisphere (*)11,899 18,546

Europe, total 6,299,804 32,043,870

European Economic Community, total 4,195,401 25,169,532

Belgium 221,633 2,494,639

Denmark 18,006 473,070

France (including Andorra) 285,642 2,065,603

Germany 475,685 3,043,261

Greece 67,879 99,024

Ireland 93,396 427,578

Italy (including San Marino) 158,534 1,166,843

Luxembourg 4,946 101,031

Netherlands 273,936 1,916,577

Portugal 16,654 92,882

Spain 67,661 521,361

United Kingdom 2,511,307 12,767,663

Other European Economic

Community (*)122 —

Other West European countries,

total 513,067 4,070,715

Austria 9,277 47,218

Finland 10,864 245,052

Liechtenstein — (*)226

Monaco (*)8,056 (*)3,078

Norway 241,313 2,152,683

Sweden 70,943 318,590

Switzerland 112,430 1,110,817

Turkey 54,329 146,803

Other West European countries 5,856 20,417

West European countries

not allocable — (*)25,832

East European countries, total 160,331 1,169,167

Romania 4,062 27,915

Former Soviet Union 27,730 738,812

Other East Europe 128,538 402,440

Europe not allocable (*)1,431,005 1,634,456

Africa, total 803,778 2,706,134

North Africa, total 162,377 930,881

Algeria (*)77,194 79,920

Egypt 66,039 812,808

Libya (*)1 (*)930

Morocco 7,514 39,770

Other North Africa 11,629 -2,547

East Africa, total 12,701 165,073

Ethiopia (*)6,776 38,144

Kenya (*)5,338 83,618

Tanzania (*)69 2,261

Uganda (*)2 1,330

Other East Africa (*)515 39,720

West and Central Africa, total 595,171 1,448,231

Gabon (*)727 3,961

Ghana (*)821 43,861

Liberia (*)3,878 4,750

Nigeria 203,989 1,056,483

Zaire (*)31 86,882

Other West and Central Africa 385,725 252,295

Southern Africa, total 33,424 160,048

Malawi (*)25 396

Zimbabwe (*)747 4,131

South Africa (including Namibia) 32,560 153,194

Zambia (*)70 443

Other Southern Africa (*)22 1,885

Africa not allocable (*)106 (*)1,900

Asia, total 12,350,022 25,490,492

Middle East, total 778,573 2,883,232

Bahrain 15,148 15,264

Iran (*)37 11,771

Iraq — (*)719

Israel 124,134 214,803

Kuwait 37,889 48,588

Lebanon (*)827 78,308

Qatar 45,879 94,064

Saudi Arabia 374,106 (*)1,235,595

United Arab Emirates 133,061 411,563

Other areas of the

Arabian Peninsula 36,912 598,572

Other Middle East 10,579 173,987

Southern and Southeast Asia, total 1,631,749 8,866,461

Bangladesh (*)17,543 22,956

India 237,664 209,263

Indonesia 251,069 3,685,644

Malaysia 124,038 1,220,154

Pakistan 94,571 127,603

Philippines 149,436 776,383

Singapore 462,734 2,157,488

Sri Lanka 11,357 17,297

Thailand 243,544 579,960

Vietnam 26,448 24,025

Other Southern and

Southeast Asia 13,346 45,688

Eastern Asia, total 9,437,958 12,756,917

China 477,917 761,370

Hong Kong 391,058 1,302,756

Japan 792,127 2,257,573

South Korea 6,651,629 7,679,016

Taiwan 393,110 686,258

Other Eastern Asia (*)732,116 69,945

Asia not allocable (*)501,742 983,881

Oceania, total 407,377 5,066,887

Australia 319,566 4,613,488

New Zealand 68,724 260,571

Other Oceania 19,087 192,828

Puerto Rico and U.S.

Possessions, total 572,692 1,903,744

Puerto Rico 442,557 1,511,314

U.S. Possessions, total 130,135 392,430

American Samoa (*)8 11,950

Guam 59,626 187,730

Virgin Islands 62,884 93,044

Other U.S. Possessions (*)7,617 99,706

Country not stated 5,107,678 21,704,586

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Selected country Oil and gas Foreign

extraction branch

income income(2)

(less

loss)(2)

(9) (10)

All countries 22,073,503 75,499,359

Canada 2,017,700 2,652,963

Latin America, total 2,048,027 9,733,137

Mexico (*)3,415 1,275,741

Central America, total (*)7,794 489,783

Belize — (*)2,137

Costa Rica — (*)34,964

El Salvador — (*)42,170

Guatemala — 99,233

Honduras — (*)23,865

Nicaragua — (*)11,129

Panama (*)7,794 272,403

Central America not allocable — (*)3,883

Caribbean countries, total (*)480,587 685,491

Cayman Islands (British) — 333,432

Dominican Republic — 96,048

Haiti — (*)12,975

Jamaica — 44,524

Trinidad and Tobago (*)480,587 (*)100,419

Other Caribbean countries — (*)98,093

South America, total 1,556,232 7,237,917

Argentina (*)291,896 2,144,238

Bolivia (*)110 (*)15,948

Brazil (*)336 2,666,515

Chile (*)576,143 503,028

Colombia (*)650,601 596,759

Ecuador (*)26,824 62,407

Paraguay (*)42 (*)50,974

Peru (*)-869 820,142

Uruguay — 119,284

Venezuela (*)11,147 209,072

Other South America — (*)49,549

Latin America not allocable — (*)44,205

Other Western Hemisphere, total (*)41,189 1,622,747

Bahamas — 1,364,304

Bermuda (*)41,189 (*)167,921

Netherlands Antilles — (*)70,773

Other British West Indies — (*)13,841

All other Western Hemisphere — (*)5,906

Europe, total 7,778,964 28,355,390

European Economic Community, total 5,917,286 25,066,596

Belgium (*)524 1,895,830

Denmark (*)264,699 381,658

France (including Andorra) (*)28,042 1,106,167

Germany (*)19,684 2,212,735

Greece — 620,951

Ireland — 261,222

Italy (including San Marino) (*)-2,479 1,165,355

Luxembourg — (*)3,430

Netherlands 1,828,119 2,783,891

Portugal — 58,050

Spain (*)9,353 719,300

United Kingdom 3,749,343 13,858,007

Other European Economic

Community — —

Other West European countries,

total (*)1,603,338 2,462,464

Austria — 47,159

Finland — (*)41,010

Liechtenstein — —

Monaco — (*)5,054

Norway (*)1,603,342 1,246,350

Sweden — 137,493

Switzerland (*)1 746,301

Turkey (*)-4 238,461

Other West European countries — (*)635

West European countries

not allocable — —

East European countries, total (*)258,339 683,890

Romania (*)18 (*)27,990

Former Soviet Union (*)258,321 354,755

Other East Europe — 301,145

Europe not allocable — (*)142,439

Africa, total 2,487,662 1,692,639

North Africa, total (*)307,676 383,605

Algeria (*)22,319 (*)54,260

Egypt (*)285,150 268,281

Libya — —

Morocco — (*)23,234

Other North Africa (*)208 (*)37,831

East Africa, total — 117,203

Ethiopia — (*)12,805

Kenya — (*)80,600

Tanzania — (*)1,212

Uganda — (*)10

Other East Africa — (*)22,576

West and Central Africa, total 2,179,308 1,089,351

Gabon (*)88,026 (*)8,944

Ghana — (*)61

Liberia — —

Nigeria (*)1,526,359 (*)893,145

Zaire (*)79,476 (*)79,991

Other West and Central Africa (*)485,447 107,210

Southern Africa, total (*)678 102,480

Malawi — (*)2

Zimbabwe — (*)-6

South Africa (including Namibia) (*)678 103,337

Zambia — (*)-853

Other Southern Africa — —

Africa not allocable — —

Asia, total 5,064,340 24,602,702

Middle East, total 1,338,114 1,886,643

Bahrain (*)313 (*)261,346

Iran — (*)380

Iraq — —

Israel — (*)20,826

Kuwait — (*)22,719

Lebanon — (*)4,589

Qatar (*)11,834 (*)66,313

Saudi Arabia (*)559,979 748,509

United Arab Emirates (*)263,775 371,984

Other areas of the

Arabian Peninsula (*)502,213 (*)267,363

Other Middle East — 122,615

Southern and Southeast Asia, total 3,441,916 7,836,583

Bangladesh — (*)5,166

India (*)2 435,391

Indonesia 2,127,983 2,584,678

Malaysia (*)767,093 1,107,850

Pakistan (*)34,809 266,833

Philippines — 628,712

Singapore (*)3,677 2,015,807

Sri Lanka — (*)12,423

Thailand (*)506,588 614,815

Vietnam (*)1,764 (*)5,618

Other Southern and

Southeast Asia — (*)159,291

Eastern Asia, total (*)284,310 14,830,075

China (*)270,751 423,565

Hong Kong — 1,660,543

Japan — 2,555,511

South Korea (*)13,559 9,415,705

Taiwan — 774,750

Other Eastern Asia — (*)1

Asia not allocable — (*)49,401

Oceania, total (*)1,872,513 4,075,775

Australia (*)1,749,160 3,781,522

New Zealand (*)11,644 240,277

Other Oceania (*)111,710 (*)53,976

Puerto Rico and U.S.

Possessions, total — 1,809,151

Puerto Rico — 1,533,225

U.S. Possessions, total — 275,926

American Samoa — (*)5,835

Guam — 183,680

Virgin Islands — 75,072

Other U.S. Possessions — (*)11,340

Country not stated 763,108 954,855

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Selected country Specifically Total

allocable deductions

income

(section

863(b)](2)

(11) (12)

All countries 27,442,900 180,252,217

Canada 1,855,495 12,023,022

Latin America, total 1,932,128 20,302,634

Mexico 808,045 4,212,398

Central America, total 34,315 803,191

Belize (*)332 5,925

Costa Rica 10,385 57,349

El Salvador 4,595 84,782

Guatemala 4,737 150,648

Honduras 2,616 50,631

Nicaragua 403 21,177

Panama 10,889 413,413

Central America not allocable (*)358 (*)19,267

Caribbean countries, total 44,411 1,772,358

Cayman Islands (British) 16,957 796,897

Dominican Republic 6,814 172,602

Haiti (*)158 43,281

Jamaica 3,193 89,972

Trinidad and Tobago 2,512 451,440

Other Caribbean countries 14,777 218,166

South America, total 885,405 11,580,594

Argentina 414,888 2,272,595

Bolivia 1,371 49,453

Brazil 319,998 4,033,863

Chile 25,043 1,810,870

Colombia 29,969 1,142,030

Ecuador 5,476 214,224

Paraguay 929 97,900

Peru 11,062 849,356

Uruguay 3,081 235,117

Venezuela 16,175 743,283

Other South America 57,415 131,904

Latin America not allocable (*)159,953 1,934,093

Other Western Hemisphere, total 70,410 2,386,900

Bahamas 658 1,582,024

Bermuda 188 557,513

Netherlands Antilles 15,880 139,325

Other British West Indies 53,570 74,819

All other Western Hemisphere 1,806 33,219

Europe, total 7,271,375 59,107,107

European Economic Community, total 4,721,129 49,921,262

Belgium 172,739 3,092,371

Denmark 40,168 565,810

France (including Andorra) 385,516 4,969,439

Germany 674,755 6,290,352

Greece 16,730 592,930

Ireland 62,010 1,339,358

Italy (including San Marino) 336,040 3,086,405

Luxembourg 22,417 194,480

Netherlands 285,504 3,159,477

Portugal 10,036 243,290

Spain 87,232 1,784,169

United Kingdom 2,627,983 24,602,783

Other European Economic

Community — (*)397

Other West European countries,

total 605,961 5,647,829

Austria 20,773 521,875

Finland 174,033 371,095

Liechtenstein -(*)4 11,977

Monaco — 10,709

Norway 12,486 990,257

Sweden 51,493 909,726

Switzerland 266,328 2,280,274

Turkey 71,331 507,529

Other West European countries 9,522 30,462

West European countries

not allocable — (*)13,925

East European countries, total 92,763 1,416,749

Romania 2,004 41,595

Former Soviet Union 46,597 851,238

Other East Europe 44,161 523,916

Europe not allocable 1,851,522 2,121,267

Africa, total 92,505 2,387,558

North Africa, total 23,133 585,719

Algeria (*)1,011 115,684

Egypt 9,671 401,335

Libya — (*)693

Morocco 7,843 35,520

Other North Africa 4,607 32,486

East Africa, total 2,358 132,390

Ethiopia (*)70 44,411

Kenya 638 62,750

Tanzania (*)343 2,371

Uganda (*)193 1,523

Other East Africa 1,114 21,334

West and Central Africa, total 23,289 1,265,136

Gabon (*)575 16,020

Ghana (*)665 31,340

Liberia (*)141 25,094

Nigeria 3,010 477,184

Zaire (*)408 54,489

Other West and Central Africa 18,490 661,008

Southern Africa, total 43,461 402,271

Malawi (*)36 10,804

Zimbabwe (*)399 9,265

South Africa (including Namibia) 42,995 374,283

Zambia (*)11 3,824

Other Southern Africa (*)20 4,095

Africa not allocable (*)265 2,043

Asia, total 5,429,403 44,687,518

Middle East, total 165,258 3,230,112

Bahrain 1,515 200,404

Iran (*)3,269 8,217

Iraq (*)2 (*)917

Israel 27,513 413,742

Kuwait 10,589 75,554

Lebanon 13,891 89,137

Qatar 8,960 121,617

Saudi Arabia 61,738 1,443,970

United Arab Emirates 13,774 463,786

Other areas of the

Arabian Peninsula 5,950 279,372

Other Middle East 18,056 133,397

Southern and Southeast Asia, total 679,032 10,808,752

Bangladesh (*)3,489 47,408

India 18,480 706,923

Indonesia 24,706 2,341,320

Malaysia 61,778 1,021,912

Pakistan 4,579 286,924

Philippines 185,963 858,193

Singapore 315,004 4,122,679

Sri Lanka 1,183 32,905

Thailand 48,818 1,132,894

Vietnam 7,015 103,805

Other Southern and

Southeast Asia 8,016 153,789

Eastern Asia, total 4,051,561 29,433,527

China 75,457 1,282,392

Hong Kong 178,433 2,393,292

Japan 550,911 4,614,182

South Korea 2,245,166 18,558,376

Taiwan 201,575 1,798,843

Other Eastern Asia (*)800,019 786,442

Asia not allocable 533,551 1,215,127

Oceania, total 370,820 5,043,694

Australia 343,299 4,293,856

New Zealand 21,902 584,821

Other Oceania 5,619 165,016

Puerto Rico and U.S.

Possessions, total 302,875 3,614,064

Puerto Rico 169,627 2,973,109

U.S. Possessions, total 133,247 640,955

American Samoa (*)7,138 64,216

Guam 19,784 284,765

Virgin Islands (*)8,262 156,207

Other U.S. Possessions (*)98,063 135,767

Country not stated 10,117,889 27,378,821

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — 3,320,900

Foreign income and taxes

reported on Form 1118

Selected country Deductions Taxable

from oil income

and gas (less loss)

extraction before

income(3) adjustments

(13) (14)

All countries 7,428,558 150,826,346

Canada 282,505 14,855,790

Latin America, total 1,018,439 15,326,814

Mexico (*)2,516 3,876,869

Central America, total (*)747 807,440

Belize (*)4 6,089

Costa Rica — 70,367

El Salvador — 45,566

Guatemala (*)97 62,755

Honduras — 18,131

Nicaragua — 11,941

Panama (*)646 583,422

Central America not allocable — (*)9,168

Caribbean countries, total (*)363,686 1,476,488

Cayman Islands (British) (*)5,125 834,454

Dominican Republic — 110,177

Haiti — 31,102

Jamaica — 100,316

Trinidad and Tobago (*)358,560 270,635

Other Caribbean countries — 129,804

South America, total 651,491 8,065,829

Argentina (*)92,858 2,232,517

Bolivia (*)1,206 15,969

Brazil (*)9 3,754,233

Chile (*)117,801 806,611

Colombia 299,775 669,492

Ecuador (*)45,528 5,623

Paraguay (*)1,174 28,739

Peru (*)64,035 253,770

Uruguay (*)8,305 27,733

Venezuela (*)20,798 287,441

Other South America (*)1 41,180

Latin America not allocable — 1,100,188

Other Western Hemisphere, total (*)3,909 2,806,053

Bahamas (*)19 483,885

Bermuda (*)2,293 1,828,121

Netherlands Antilles — 337,037

Other British West Indies — 140,918

All other Western Hemisphere (*)1,598 16,091

Europe, total 2,352,739 67,383,497

European Economic Community, total 1,631,484 56,083,846

Belgium (*)122 2,491,092

Denmark (*)206,787 393,482

France (including Andorra) (*)1,492 5,553,236

Germany (*)2,824 10,331,217

Greece — 355,960

Ireland (*)18 2,048,387

Italy (including San Marino) (*)7,090 4,527,372

Luxembourg — 241,683

Netherlands 138,868 8,207,156

Portugal — 304,079

Spain (*)7,960 1,684,925

United Kingdom 1,266,242 19,938,429

Other European Economic

Community (*)80 (*)6,827

Other West European countries,

total (*)522,879 7,980,517

Austria — 508,450

Finland — 306,248

Liechtenstein — 15,707

Monaco — 2,824

Norway (*)522,862 2,146,826

Sweden — 1,311,753

Switzerland — 3,319,959

Turkey (*)13 327,058

Other West European countries (*)3 28,373

West European countries

not allocable — (*)13,319

East European countries, total (*)198,377 954,764

Romania (*)2,937 13,887

Former Soviet Union (*)188,481 355,809

Other East Europe (*)6,960 585,067

Europe not allocable — 2,364,371

Africa, total 502,275 3,291,379

North Africa, total (*)52,179 742,794

Algeria (*)31,646 45,493

Egypt (*)15,960 631,665

Libya — (*)10,731

Morocco — 43,086

Other North Africa (*)4,574 11,819

East Africa, total (*)12 150,687

Ethiopia — 9,452

Kenya — 82,724

Tanzania — 3,874

Uganda — 3,054

Other East Africa (*)12 51,585

West and Central Africa, total 447,915 2,072,491

Gabon (*)5,318 95,322

Ghana — 71,830

Liberia — 75,877

Nigeria (*)258,831 1,416,176

Zaire (*)49,079 35,997

Other West and Central Africa (*)134,688 347,290

Southern Africa, total (*)2,168 323,826

Malawi — 4,550

Zimbabwe (*)72 27,465

South Africa (including Namibia) (*)2,096 269,299

Zambia — 1,797

Other Southern Africa — 20,716

Africa not allocable — 1,580

Asia, total 2,113,701 30,294,517

Middle East, total 932,156 1,552,534

Bahrain (*)14 122,409

Iran — -49

Iraq (*)2 (*)90

Israel — 230,600

Kuwait (*)4,614 21,623

Lebanon — 18,186

Qatar (*)5,426 28,821

Saudi Arabia (*)612,873 381,557

United Arab Emirates (*)155,157 250,081

Other areas of the

Arabian Peninsula (*)154,070 412,671

Other Middle East — 86,545

Southern and Southeast Asia, total 1,116,472 9,043,649

Bangladesh — 13,591

India (*)1 341,244

Indonesia 593,532 3,077,419

Malaysia (*)346,542 1,005,763

Pakistan (*)8,674 149,717

Philippines (*)59 832,143

Singapore (*)391 2,595,464

Sri Lanka — 8,342

Thailand (*)102,673 994,439

Vietnam (*)64,600 46,964

Other Southern and

Southeast Asia — 72,492

Eastern Asia, total (*)65,073 19,226,909

China (*)64,212 601,889

Hong Kong — 1,232,834

Japan — 2,684,259

South Korea (*)855 13,150,264

Taiwan (*)6 1,538,646

Other Eastern Asia — 19,015

Asia not allocable — 471,424

Oceania, total 387,265 6,189,906

Australia (*)341,354 4,979,429

New Zealand (*)1,411 1,059,632

Other Oceania (*)44,499 150,845

Puerto Rico and U.S.

Possessions, total (*)266 480,264

Puerto Rico (*)115 240,812

U.S. Possessions, total (*)151 239,451

American Samoa — 1,280

Guam (*)151 97,829

Virgin Islands — 120,511

Other U.S. Possessions — 19,831

Country not stated 767,460 10,163,858

Interest Charge-Domestic

International Sales

Corporation dividends(1) — (*)4,624

Foreign Sales Corporation

dividends(1) — 29,647

Foreign income and taxes

reported on Form 1118

Foreign taxes paid, accrued,

and deemed paid

Foreign

taxes paid

or accrued

Selected country Total Total

(15) (16)

All countries 41,177,403 14,385,591

Canada 4,645,453 887,472

Latin America, total 3,736,552 1,999,207

Mexico 690,083 277,161

Central America, total 131,072 46,866

Belize (*)1,151 (*)245

Costa Rica 11,497 8,409

El Salvador 4,687 3,060

Guatemala 18,536 16,567

Honduras 7,018 3,552

Nicaragua (*)261 (*)261

Panama 86,478 13,327

Central America not allocable (*)1,445 (*)1,445

Caribbean countries, total 205,911 117,287

Cayman Islands (British) 61,704 —

Dominican Republic 28,187 11,338

Haiti (*)5,203 (*)5,203

Jamaica 9,450 8,105

Trinidad and Tobago 98,512 91,521

Other Caribbean countries 2,855 1,120

South America, total 2,709,482 1,557,889

Argentina 682,157 318,152

Bolivia 2,677 2,219

Brazil 1,156,670 539,202

Chile 358,762 320,698

Colombia 302,392 258,493

Ecuador 13,154 8,119

Paraguay 8,176 5,322

Peru 70,142 30,857

Uruguay 10,319 5,776

Venezuela 90,684 54,701

Other South America (*)14,349 (*)14,349

Latin America not allocable (*)4 (*)4

Other Western Hemisphere, total 185,163 6,814

Bahamas 16,763 —

Bermuda 107,189 (*)65

Netherlands Antilles 40,086 (*)393

Other British West Indies 14,780 1,832

All other Western Hemisphere (*)6,344 (*)4,524

Europe, total 18,333,992 4,275,494

European Economic Community, total 15,208,042 3,056,213

Belgium 508,146 93,323

Denmark 97,522 52,921

France (including Andorra) 1,413,756 210,231

Germany 3,267,175 369,587

Greece 62,892 44,233

Ireland 138,529 20,736

Italy (including San Marino) 1,620,377 355,387

Luxembourg 43,491 5,830

Netherlands 2,633,571 250,444

Portugal 102,499 35,858

Spain 500,582 202,441

United Kingdom 4,819,503 1,415,219

Other European Economic

Community — —

Other West European countries,

total 2,529,374 1,150,124

Austria 234,191 30,838

Finland 34,761 8,807

Liechtenstein (*)1,044 (*)42

Monaco (*)1,009 (*)782

Norway 882,462 839,525

Sweden 322,350 62,818

Switzerland 975,196 182,981

Turkey 75,028 22,725

Other West European countries 3,332 (*)1,607

West European countries

not allocable — —

East European countries, total 147,983 68,011

Romania 989 988

Former Soviet Union 53,948 46,520

Other East Europe 93,045 20,503

Europe not allocable (*)448,593 (*)1,145

Africa, total 1,203,452 706,055

North Africa, total 319,751 297,351

Algeria (*)53,884 (*)53,884

Egypt 244,275 232,229

Libya (*)3,544 (*)3,544

Morocco 10,334 3,543

Other North Africa 7,714 (*)4,152

East Africa, total 35,618 13,222

Ethiopia (*)2,093 (*)2,093

Kenya 23,882 10,300

Tanzania (*)710 (*)37

Uganda (*)1,280 (*)304

Other East Africa 7,653 488

West and Central Africa, total 746,523 361,106

Gabon 3,905 (*)1,865

Ghana (*)25,828 (*)4,373

Liberia (*)6,051 —

Nigeria 386,791 191,091

Zaire (*)13,691 (*)13,136

Other West and Central Africa 310,257 150,641

Southern Africa, total 99,640 32,455

Malawi (*)1,058 (*)28

Zimbabwe 14,647 1,991

South Africa (including Namibia) 77,074 27,569

Zambia (*)244 (*)225

Other Southern Africa (*)6,616 (*)2,643

Africa not allocable (*)1,920 (*)1,920

Asia, total 10,126,296 4,780,456

Middle East, total 643,998 498,810

Bahrain (*)103 —

Iran — —

Iraq — —

Israel 49,410 31,076

Kuwait 9,574 9,227

Lebanon 822 764

Qatar (*)1,219 (*)1,219

Saudi Arabia 244,991 228,477

United Arab Emirates 71,189 62,164

Other areas of the

Arabian Peninsula 147,738 147,733

Other Middle East 18,950 18,150

Southern and Southeast Asia, total 2,965,426 2,048,131

Bangladesh (*)9,256 (*)9,118

India 150,501 122,096

Indonesia 1,430,915 1,107,403

Malaysia 383,078 293,353

Pakistan 61,526 58,095

Philippines 238,334 140,974

Singapore 277,336 157,956

Sri Lanka 3,576 2,657

Thailand 396,252 144,044

Vietnam 617 617

Other Southern and

Southeast Asia 14,034 (*)11,819

Eastern Asia, total 6,608,301 2,224,944

China 54,549 46,982

Hong Kong 303,632 192,671

Japan 484,434 202,157

South Korea 5,396,144 1,552,309

Taiwan 369,541 230,825

Other Eastern Asia — —

Asia not allocable (*)8,571 (*)8,571

Oceania, total 2,152,664 1,135,090

Australia 1,743,647 963,804

New Zealand 329,305 102,299

Other Oceania 79,712 68,988

Puerto Rico and U.S.

Possessions, total 279,094 187,213

Puerto Rico 236,760 154,474

U.S. Possessions, total 42,334 32,739

American Samoa (*)659 (*)659

Guam 19,445 16,447

Virgin Islands 17,302 15,222

Other U.S. Possessions (*)4,928 (*)410

Country not stated 514,736 407,789

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Foreign taxes paid, accrued,

and deemed paid

Foreign taxes paid or accrued

Taxes withheld at source on–

Selected country Dividends Interest

(17) (18)

All countries 2,543,654 540,763

Canada 299,175 87,561

Latin America, total 300,344 158,356

Mexico 1,414 36,565

Central America, total 6,376 678

Belize — —

Costa Rica (*)1,111 (*)56

El Salvador — (*)300

Guatemala 575 226

Honduras (*)15 (*)16

Nicaragua — (*)41

Panama 4,647 (*)40

Central America not allocable (*)27 —

Caribbean countries, total 2,536 762

Cayman Islands (British) — —

Dominican Republic (*)864 (*)50

Haiti — —

Jamaica (*)256 (*)443

Trinidad and Tobago (*)1,096 (*)84

Other Caribbean countries (*)319 (*)214

South America, total 290,015 120,351

Argentina 31,521 26,609

Bolivia (*)201 (*)163

Brazil 175,861 86,416

Chile 65,131 2,475

Colombia 11,081 (*)153

Ecuador (*)336 (*)163

Paraguay (*)19 (*)242

Peru (*)5,623 (*)251

Uruguay (*)131 (*)60

Venezuela (*)110 3,819

Other South America — —

Latin America not allocable (*)3 —

Other Western Hemisphere, total (*)293 (*)1,472

Bahamas — —

Bermuda (*)1 —

Netherlands Antilles (*)137 —

Other British West Indies (*)148 —

All other Western Hemisphere (*)8 (*)1,472

Europe, total 1,292,960 111,787

European Economic Community, total 1,072,248 90,816

Belgium 25,482 3,635

Denmark 6,267 (*)-12

France (including Andorra) 87,289 11,352

Germany 220,948 (*)213

Greece (*)10 (*)4

Ireland 12,931 (*)707

Italy (including San Marino) 59,531 38,573

Luxembourg 5,177 —

Netherlands 157,436 856

Portugal 15,256 423

Spain 59,393 3,723

United Kingdom 422,527 31,341

Other European Economic

Community — —

Other West European countries,

total 217,760 12,782

Austria 23,634 (*)4

Finland 3,300 (*)172

Liechtenstein (*)42 —

Monaco — —

Norway 5,798 (*)29

Sweden 43,435 (*)5,401

Switzerland 141,546 (*)4,672

Turkey (*)4 (*)2,503

Other West European countries — —

West European countries

not allocable — —

East European countries, total 2,950 (*)7,166

Romania — (*)2

Former Soviet Union (*)641 (*)7,110

Other East Europe 2,109 (*)54

Europe not allocable (*)3 (*)1,023

Africa, total 14,993 201

North Africa, total (*)911 (*)109

Algeria — —

Egypt (*)11 —

Libya — —

Morocco (*)825 (*)109

Other North Africa (*)76 —

East Africa, total 1,416 (*)64

Ethiopia — —

Kenya (*)897 (*)27

Tanzania — (*)37

Uganda (*)304 —

Other East Africa (*)215 —

West and Central Africa, total 7,801 (*)23

Gabon (*)680 (*)1

Ghana (*)4,179 (*)6

Liberia — —

Nigeria (*)1,826 (*)17

Zaire (*)153 —

Other West and Central Africa (*)964 —

Southern Africa, total 3,038 (*)4

Malawi (*)28 —

Zimbabwe (*)1,329 (*)1

South Africa (including Namibia) 1,205 (*)3

Zambia (*)43 —

Other Southern Africa (*)433 —

Africa not allocable (*)1,826 —

Asia, total 464,790 97,256

Middle East, total 8,473 638

Bahrain — —

Iran — —

Iraq — —

Israel 8,292 442

Kuwait — —

Lebanon (*)23 (*)8

Qatar — —

Saudi Arabia (*)147 (*)117

United Arab Emirates — —

Other areas of the

Arabian Peninsula — —

Other Middle East (*)11 (*)72

Southern and Southeast Asia, total 128,333 74,225

Bangladesh — —

India 5,627 938

Indonesia 65,284 57,115

Malaysia 3,516 878

Pakistan 405 (*)32

Philippines 31,913 11,508

Singapore 1,767 2,147

Sri Lanka (*)258 (*)1

Thailand 19,564 1,564

Vietnam — —

Other Southern and

Southeast Asia — (*)42

Eastern Asia, total 325,188 22,393

China (*)677 2,158

Hong Kong 67,704 5,941

Japan 854 (*)67

South Korea 229,699 13,304

Taiwan 26,255 923

Other Eastern Asia — —

Asia not allocable (*)2,795 —

Oceania, total 87,828 21,818

Australia 15,451 18,275

New Zealand 71,012 1,058

Other Oceania (*)1,365 (*)2,484

Puerto Rico and U.S.

Possessions, total 10,875 14,760

Puerto Rico 10,836 7,986

U.S. Possessions, total (*)39 (*)6,774

American Samoa (*)8 —

Guam — —

Virgin Islands (*)32 (*)6,597

Other U.S. Possessions — (*)177

Country not stated 72,396 47,553

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Foreign taxes paid, accrued,

and deemed paid

Foreign taxes paid or accrued

Taxes Other

withheld taxes

at source paid or

on– accrued on–

Selected country Rents, Branch

royalties, income

fees

(19) (20)

All countries 1,994,254 5,550,340

Canada 92,965 254,664

Latin America, total 291,654 451,059

Mexico 70,621 101,291

Central America, total 11,259 22,640

Belize — (*)244

Costa Rica 3,719 (*)2,833

El Salvador 1,139 (*)1,522

Guatemala 3,011 (*)8,961

Honduras 748 (*)1,774

Nicaragua (*)154 (*)45

Panama 2,488 5,843

Central America not allocable (*)1 (*)1,417

Caribbean countries, total 2,225 24,052

Cayman Islands (British) — —

Dominican Republic 1,191 (*)8,898

Haiti (*)2 (*)1,072

Jamaica 653 (*)5,652

Trinidad and Tobago 265 (*)8,117

Other Caribbean countries (*)114 (*)312

South America, total 207,547 303,077

Argentina 56,949 113,003

Bolivia (*)183 (*)1,213

Brazil 89,442 96,042

Chile 20,201 (*)10,716

Colombia 12,276 35,622

Ecuador 4,037 (*)1,538

Paraguay 201 (*)4,779

Peru 4,670 4,803

Uruguay 2,428 (*)2,909

Venezuela 17,146 18,117

Other South America (*)15 (*)14,334

Latin America not allocable (*)1 —

Other Western Hemisphere, total (*)131 (*)4,180

Bahamas — —

Bermuda — —

Netherlands Antilles — (*)257

Other British West Indies (*)28 (*)982

All other Western Hemisphere (*)103 (*)2,941

Europe, total 356,482 1,898,332

European Economic Community, total 317,278 1,037,239

Belgium 5,347 14,438

Denmark (*)7 (*)44,931

France (including Andorra) 63,978 34,818

Germany 2,238 110,397

Greece 1,390 42,806

Ireland (*)194 (*)4,865

Italy (including San Marino) 118,449 103,613

Luxembourg (*)6 (*)508

Netherlands 7,288 40,034

Portugal 13,033 (*)6,021

Spain 91,676 40,740

United Kingdom 13,674 594,067

Other European Economic

Community — —

Other West European countries,

total 25,105 828,773

Austria 1,843 (*)4,716

Finland 5,083 (*)89

Liechtenstein — —

Monaco — (*)630

Norway (*)142 (*)786,513

Sweden (*)5,145 (*)2,211

Switzerland (*)143 29,894

Turkey 12,660 (*)4,705

Other West European countries (*)88 (*)16

West European countries

not allocable — —

East European countries, total 14,099 32,210

Romania (*)699 (*)2

Former Soviet Union 770 (*)29,238

Other East Europe 12,630 (*)2,970

Europe not allocable — (*)110

Africa, total 24,687 384,911

North Africa, total 2,863 65,919

Algeria (*)108 (*)42,898

Egypt 2,238 (*)17,708

Libya — —

Morocco 494 (*)1,345

Other North Africa (*)24 (*)3,968

East Africa, total (*)224 (*)5,543

Ethiopia — (*)2,093

Kenya (*)144 (*)3,383

Tanzania — —

Uganda — —

Other East Africa (*)80 (*)67

West and Central Africa, total 1,947 309,639

Gabon — (*)1,184

Ghana (*)2 —

Liberia — —

Nigeria (*)880 (*)182,156

Zaire — (*)12,983

Other West and Central Africa (*)1,065 (*)113,316

Southern Africa, total 19,652 (*)3,809

Malawi — —

Zimbabwe 257 (*)122

South Africa (including Namibia) 17,186 (*)3,506

Zambia — (*)181

Other Southern Africa (*)2,210 —

Africa not allocable — —

Asia, total 1,026,005 2,142,776

Middle East, total 23,690 224,438

Bahrain — —

Iran — —

Iraq — —

Israel 18,509 (*)53

Kuwait (*)390 (*)8,251

Lebanon (*)57 (*)668

Qatar (*)37 (*)1,180

Saudi Arabia 4,136 160,079

United Arab Emirates (*)29 (*)35,432

Other areas of the

Arabian Peninsula (*)456 (*)1,451

Other Middle East (*)75 (*)17,324

Southern and Southeast Asia, total 164,180 1,073,828

Bangladesh — (*)7,449

India 10,210 (*)94,854

Indonesia 10,911 680,935

Malaysia 16,407 19,271

Pakistan (*)5,133 (*)52,086

Philippines 12,339 69,756

Singapore 83,511 60,503

Sri Lanka (*)71 (*)2,041

Thailand 25,417 75,486

Vietnam (*)99 (*)262

Other Southern and

Southeast Asia (*)82 (*)11,184

Eastern Asia, total 837,574 839,767

China 24,757 10,564

Hong Kong 47,821 62,457

Japan 5,003 77,781

South Korea 640,479 623,631

Taiwan 119,514 65,334

Other Eastern Asia — —

Asia not allocable (*)561 (*)4,743

Oceania, total 79,240 250,086

Australia 67,088 234,770

New Zealand 11,854 13,228

Other Oceania (*)298 (*)2,087

Puerto Rico and U.S.

Possessions, total 12,905 95,943

Puerto Rico 12,377 77,520

U.S. Possessions, total (*)528 18,423

American Samoa — (*)307

Guam (*)3 13,526

Virgin Islands (*)525 4,357

Other U.S. Possessions — (*)233

Country not stated 110,185 68,390

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Foreign taxes paid, accrued,

and deemed paid

Foreign taxes paid or accrued

Other taxes paid or

accrued on–

Selected country Specifically Service

allocable income

income

[section

863(b)]

(21) (22)

All countries 4,600 315,733

Canada (*)189 16,689

Latin America, total (*)249 68,518

Mexico (*)38 13,154

Central America, total — 4,814

Belize — (*)1

Costa Rica — (*)135

El Salvador — (*)68

Guatemala — (*)3,753

Honduras — (*)743

Nicaragua — (*)4

Panama — (*)110

Central America not allocable — —

Caribbean countries, total — 5,393

Cayman Islands (British) — —

Dominican Republic — (*)103

Haiti — —

Jamaica — (*)1,060

Trinidad and Tobago — (*)4,071

Other Caribbean countries — (*)160

South America, total (*)211 45,157

Argentina — 17,009

Bolivia — (*)301

Brazil (*)211 5,849

Chile — 1,142

Colombia — 6,204

Ecuador — (*)472

Paraguay — —

Peru — 1,416

Uruguay — (*)109

Venezuela — 12,655

Other South America — —

Latin America not allocable — —

Other Western Hemisphere, total (*)194 (*)531

Bahamas — —

Bermuda — (*)64

Netherlands Antilles — —

Other British West Indies (*)194 (*)467

All other Western Hemisphere — —

Europe, total (*)753 83,010

European Economic Community, total (*)632 69,787

Belgium — (*)3,804

Denmark — (*)1,538

France (including Andorra) — 830

Germany — (*)24,671

Greece — (*)2

Ireland — (*)1,877

Italy (including San Marino) (*)8 2,847

Luxembourg — (*)123

Netherlands — (*)5,513

Portugal — (*)772

Spain (*)4 1,946

United Kingdom (*)620 25,863

Other European Economic

Community — —

Other West European countries,

total — 9,893

Austria — (*)439

Finland — (*)1

Liechtenstein — —

Monaco — (*)151

Norway — (*)520

Sweden — (*)3,265

Switzerland — (*)3,402

Turkey — 2,114

Other West European countries — (*)2

West European countries

not allocable — —

East European countries, total (*)121 3,331

Romania — (*)286

Former Soviet Union (*)121 905

Other East Europe — 2,139

Europe not allocable — —

Africa, total — 24,827

North Africa, total — (*)12,420

Algeria — (*)10,679

Egypt — (*)1,427

Libya — —

Morocco — (*)44

Other North Africa — (*)70

East Africa, total — (*)403

Ethiopia — —

Kenya — (*)403

Tanzania — —

Uganda — —

Other East Africa — —

West and Central Africa, total — 7,799

Gabon — —

Ghana — (*)159

Liberia — —

Nigeria — (*)6,155

Zaire — —

Other West and Central Africa — (*)1,484

Southern Africa, total — (*)4,206

Malawi — —

Zimbabwe — (*)282

South Africa (including Namibia) — (*)3,924

Zambia — —

Other Southern Africa — —

Africa not allocable — —

Asia, total (*)938 75,897

Middle East, total — 10,038

Bahrain — —

Iran — —

Iraq — —

Israel — (*)362

Kuwait — —

Lebanon — (*)8

Qatar — (*)3

Saudi Arabia — 8,361

United Arab Emirates — —

Other areas of the

Arabian Peninsula — (*)829

Other Middle East — (*)476

Southern and Southeast Asia, total (*)389 35,874

Bangladesh — (*)1,613

India (*)8 7,935

Indonesia — 3,440

Malaysia (*)29 3,590

Pakistan — (*)377

Philippines — 3,684

Singapore (*)352 1,597

Sri Lanka — (*)287

Thailand — 12,926

Vietnam — (*)256

Other Southern and

Southeast Asia — (*)170

Eastern Asia, total (*)549 29,661

China — 1,223

Hong Kong — 5,109

Japan (*)180 (*)385

South Korea (*)283 13,159

Taiwan (*)85 9,785

Other Eastern Asia — —

Asia not allocable — (*)323

Oceania, total — 7,083

Australia — 4,772

New Zealand — 2,223

Other Oceania — (*)88

Puerto Rico and U.S.

Possessions, total (*)79 9,990

Puerto Rico (*)79 9,155

U.S. Possessions, total — 834

American Samoa — —

Guam — (*)608

Virgin Islands — (*)226

Other U.S. Possessions — —

Country not stated (*)2,198 29,189

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

Foreign income and taxes

reported on Form 1118

Foreign taxes paid, accrued,

and deemed paid

Foreign

taxes paid

or accrued

Other

taxes paid

or accrued

on–

Selected country Other Taxes

income deemed

paid

(23) (24)

All countries 3,436,246 26,791,812

Canada 136,230 3,757,980

Latin America, total 729,028 1,737,345

Mexico 54,079 412,922

Central America, total 1,099 84,206

Belize — (*)906

Costa Rica (*)554 3,088

El Salvador (*)32 (*)1,626

Guatemala (*)41 1,969

Honduras (*)255 (*)3,466

Nicaragua (*)18 —

Panama 199 73,151

Central America not allocable — —

Caribbean countries, total (*)82,319 88,624

Cayman Islands (British) — 61,704

Dominican Republic (*)231 16,648

Haiti (*)4,128 —

Jamaica (*)42 (*)1,345

Trinidad and Tobago (*)77,918 (*)6,991

Other Caribbean countries — 1,736

South America, total 591,530 1,151,593

Argentina 73,063 364,005

Bolivia (*)158 (*)458

Brazil 85,380 617,468

Chile 221,033 38,065

Colombia 193,157 43,899

Ecuador (*)1,573 5,035

Paraguay (*)81 (*)2,854

Peru 14,093 39,285

Uruguay (*)138 4,543

Venezuela 2,854 35,983

Other South America — —

Latin America not allocable — —

Other Western Hemisphere, total (*)12 178,349

Bahamas — 16,763

Bermuda — 107,124

Netherlands Antilles — 39,693

Other British West Indies (*)12 12,948

All other Western Hemisphere — (*)1,820

Europe, total 532,169 14,058,499

European Economic Community, total 468,214 12,151,829

Belgium 40,616 414,823

Denmark (*)190 44,601

France (including Andorra) 11,964 1,203,524

Germany 11,120 2,897,587

Greece (*)21 18,659

Ireland (*)163 117,793

Italy (including San Marino) 32,366 1,264,989

Luxembourg (*)15 37,661

Netherlands 39,317 2,383,127

Portugal 354 66,641

Spain 4,959 298,141

United Kingdom 327,128 3,404,283

Other European Economic

Community — —

Other West European countries,

total 55,811 1,379,249

Austria (*)202 203,353

Finland (*)162 25,954

Liechtenstein — (*)1,002

Monaco — (*)227

Norway (*)46,523 42,938

Sweden 3,360 259,533

Switzerland 3,325 792,215

Turkey (*)739 52,302

Other West European countries (*)1,500 (*)1,725

West European countries

not allocable — —

East European countries, total 8,134 79,972

Romania — (*)1

Former Soviet Union (*)7,533 7,428

Other East Europe (*)600 72,543

Europe not allocable (*)10 (*)447,448

Africa, total 256,437 497,397

North Africa, total 215,129 22,400

Algeria — —

Egypt (*)210,846 12,046

Libya (*)3,544 —

Morocco (*)725 (*)6,791

Other North Africa (*)14 (*)3,563

East Africa, total (*)5,572 22,395

Ethiopia — —

Kenya (*)5,446 13,582

Tanzania — (*)673

Uganda — (*)976

Other East Africa (*)127 (*)7,164

West and Central Africa, total (*)33,896 385,417

Gabon — (*)2,041

Ghana (*)27 (*)21,455

Liberia — (*)6,051

Nigeria (*)57 195,699

Zaire — (*)555

Other West and Central Africa (*)33,812 (*)159,616

Southern Africa, total 1,746 67,185

Malawi — (*)1,030

Zimbabwe 12,656

South Africa (including Namibia) 1,746 49,505

Zambia — (*)19

Other Southern Africa — (*)3,974

Africa not allocable — —

Asia, total 972,794 5,345,840

Middle East, total 231,532 45,188

Bahrain — (*)103

Iran — —

Iraq — —

Israel 3,418 18,334

Kuwait (*)585 (*)347

Lebanon — (*)58

Qatar — —

Saudi Arabia (*)55,636 16,514

United Arab Emirates (*)26,702 (*)9,025

Other areas of the

Arabian Peninsula (*)144,997 (*)5

Other Middle East (*)193 (*)800

Southern and Southeast Asia, total 571,301 917,295

Bangladesh (*)56 (*)138

India 2,524 28,405

Indonesia 289,718 323,512

Malaysia 249,662 89,725

Pakistan (*)61 3,431

Philippines 11,773 97,361

Singapore 8,079 119,380

Sri Lanka — (*)919

Thailand 9,087 252,209

Vietnam — —

Other Southern and

Southeast Asia (*)340 (*)2,215

Eastern Asia, total 169,811 4,383,357

China 7,603 7,567

Hong Kong 3,640 110,961

Japan 117,886 282,277

South Korea 31,754 3,643,835

Taiwan 8,928 138,716

Other Eastern Asia — —

Asia not allocable (*)149 —

Oceania, total 689,036 1,017,574

Australia 623,448 779,643

New Zealand 2,923 227,006

Other Oceania (*)62,665 10,724

Puerto Rico and U.S.

Possessions, total 42,661 91,882

Puerto Rico 36,521 82,286

U.S. Possessions, total 6,140 9,595

American Samoa (*)345 —

Guam 2,310 (*)2,998

Virgin Islands 3,485 (*)2,080

Other U.S. Possessions — (*)4,518

Country not stated 77,879 106,947

Interest Charge-Domestic

International Sales

Corporation dividends(1) — —

Foreign Sales Corporation

dividends(1) — —

(*) Data should be used with caution because of the small number of returns on which they are based.

(1) Dividends from an Interest Charge-Domestic International Sales Corporation or a Foreign Sales Corporation were not reported for specific foreign countries.

(2) Included in gross income (less loss), columns 2-8. See text for additional information.

(3) Included in total deductions, column 12. See text for additional information.

NOTES: Detail may not add to totals due to rounding and processing tolerances.

Explanation of Selected Terms

Adjustments to Taxable Income.–This includes several types of adjustments reported on Schedule J of Form 1118, Computation of Foreign Tax Credit–Corporations. These include the allocation of current-year foreign-source losses, overall foreign losses, and current-year U.S.-source losses, as well as the recapture of prior-year overall foreign losses and recharacterization of prior-year foreign-source losses. The net effect of these adjustments is reported in column 38 of Table 1 and column 24 of Table 2.

Carryover of Foreign Taxes.–Under Internal Revenue Code section 904, U.S. persons are allowed a 2-year carryback and a 5-year carryforward of “excess” foreign taxes for purposes of computing the foreign tax credit for those years. Such taxes were included in the current-year credit to the extent that they did not exceed the credit limitations for the current year. The 1996 statistics shown in this article include only those taxes carried forward to 1996 from previous years. See column 42 of Table 1 and column 28 of Table 2.

Controlled Foreign Corporation.–Under Internal Revenue Code section 957, a foreign corporation is a “Controlled Foreign Corporation” if more than 50 percent of its outstanding voting stock, or more than 50 percent of the value of all its outstanding stock, is owned (directly, indirectly, or constructively) by “U.S. shareholders” on any day during the foreign corporation’s tax year. A “U.S. shareholder” for these purposes is a U.S. person (defined below) who owns 10 percent or more of the foreign corporation’s total combined voting stock. Ownership attribution rules are provided in Code section 958.

Current-Year Foreign Taxes.–The current-year foreign taxes include foreign taxes paid, accrued, or deemed paid (defined below) and are reported in column 43 of Table 1, column 29 of Table 2, and column 15 of Table 3. Current-year foreign taxes do not include any carryback or carryforward of foreign taxes from subsequent or prior tax years.

Financial Services Income. Financial services income includes income (as well as “passive income,” defined below) produced in the active conduct of a banking, insurance, financing, or similar business, and certain types of insurance investment income. Financial services income does not include “high withholding tax interest” or dividends from a “noncontrolled” foreign corporation. For corporations with financial services income, “export financing interest” (defined above) is subject to special rules under section 904(d) of the Internal Revenue Code. This separate limitation category is included in Table 2.

Foreign Dividend Income Resulting from Foreign Taxes Deemed Paid (Gross-up).–U.S. corporations may take an “indirect” foreign tax credit for taxes paid by a related foreign corporation (generally owned 10 percent or more by the U.S. corporation). Under Internal Revenue Code section 78, these taxes are “deemed paid” by the U.S. corporation under sections 902 and 960(a) with respect to distributions by a foreign corporation and must be included in income as a “dividend gross-up.” This item is shown in columns 7 and 18 of Table 1 and column 4 of Tables 2 and 3.

Foreign Oil and Gas Extraction Income (FOGEI) and Foreign Oil-Related Income (FORI).–FOGEI is income related to the extraction of oil and gas, as well as to the sale of assets used in the business, related services, working capital, dividend and partnership distributions, and other oil and gas extraction income. FORI is related to the processing, transporting, selling, or distributing of oil and gas products, rather than to oil and gas extraction.

Foreign Sales Corporation.–A Foreign Sales Corporation (FSC) is a company incorporated abroad, created for U.S. exports, and usually controlled by a U.S. person (defined below). A portion of the FSC’s “foreign trade income” is exempt from U.S. taxation.

Foreign-Source Taxable Income.–Foreign-source taxable income is equal to foreign gross income (less loss) less deductions and is reported on Schedule A, Separate Limitation Income or (Loss) Before Adjustments, of Form 1118. Adjustments to foreign-source taxable income include allocations of current-year U.S.-source losses and recapture of foreign losses, as well as other adjustments. Foreign-source taxable income is reported as “foreign taxable income (less loss) before adjustments” in Table 1, column 37, Table 2, column 23, and Table 3, column 14. “Foreign taxable income (less loss) after adjustment” is also shown in Table 1, column 39, and Table 2, column 25.

High Withholding Tax Interest.–High withholding tax interest is interest subject to foreign withholding tax of at least 5 percent. “Export financing interest” cannot be classified as high withholding tax interest. This separate limitation category is included in Table 2.

Includable Income of Controlled Foreign Corporations.–This is the U.S. parent’s total pro rata share of income constructively received under Subpart F rules. As such, it consists of Subpart F income (defined below), increases in earnings invested in U.S. property, certain previously excluded Subpart F income, and factoring income. See column 6 of Table 1.

Income Related to Section 901(j).–Internal Revenue Code section 901(j) denies the use of foreign tax credit provisions for taxes paid to foreign governments that the United States does not recognize or with whom the United States has severed diplomatic ties. For 1996, these sanctioned countries were Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Sudan, and Syria. However, taxpayers do occasionally report income from these countries as shown in Table 3. Associated taxes are not creditable and are included in Table 2, column 27.

Income Related to Section 904(g).–Internal Revenue Code section 904(g) generally allows certain income (primarily interest and dividends) that otherwise would have been treated as U.S.-source income to be treated as foreign-source income for the purposes of calculating the foreign tax credit.

Income Subject to U.S. Tax.–Income subject to U.S. tax, or the corporate tax base (“worldwide taxable income”), is generally equal to net income minus certain statutory nonbusiness deductions. See column 9 of Table 1.

Interest Charge-Domestic International Sales Corporation.–Interest Charge-Domestic International Sales Corporations (IC-DISC’s) are certain small domestic corporations formed to export U.S. products. To elect IC-DISC status, at least 95 percent of a domestic corporation’s gross receipts must be “qualified export receipts,” and at least 95 percent of its assets must be “qualified export assets.”

Noncontrolled Section 902 Foreign Corporation Dividends.–A foreign corporation is classified as noncontrolled if at least 10 percent of its stock was owned by one U.S. taxpayer and, collectively, U.S. taxpayers owned 50 percent or less of its stock. This separate limitation category is included in Table 2.

OPEC Countries.–The members of the Organization of Petroleum Exporting Countries (OPEC) for 1996 were: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.

Passive Income.–Passive income generally includes such income as dividends, interest, rents, and royalties not connected with the active conduct of a trade or business. The passive income category does not include any “export financing interest,” any income taxed at a rate higher than the highest U.S. tax rate, any foreign “oil and gas extraction income,” or any income that could be classified under any other category (except the “all other” income category). This separate limitation category is included in Table 2.

Shipping Income.–Shipping income is generally income obtained from the use (or leasing for use) of a vessel or aircraft in foreign commerce, income from directly-related services, gains on the sale or exchange of a vessel or aircraft used in the performance of such services, and income generated from other space and oceanic activities. Income that would be “foreign base company shipping income” for purposes of determining the income constructively received from Controlled Foreign Corporations for U.S. taxation purposes (under Internal Revenue Code section 954(f)) is also classified as shipping income. This separate limitation category is included in Table 2.

Specifically Allocable Income.–Internal Revenue Code section 863(b) provides special rules for determining taxable income from sources outside the United States with respect to gross income derived partly within and partly outside the United States. The income apportioned to sources outside the United States under these special rules is commonly referred to as “Section 863(b) income” and is shown in Table 1, column 25 and Tables 2 and 3, column 11.

Subpart F Income.–For 1996, Subpart F of the Internal Revenue Code required certain U.S. shareholders of Controlled Foreign Corporations (CFC’s) to include in their gross incomes the shareholder’s ratable share of the CFC’s: (1) Subpart F income, (2) increase in earnings invested in U.S. property, (3) previously excluded Subpart F income withdrawn from “qualified investments” in less developed countries and in “foreign base company” shipping operations, and (4) factoring income. The Subpart F income of a CFC included: (1) certain insurance income, (2) “foreign base company” income, (3) international boycott participation income, (4) illegal bribes and other payments made to government officials that would be unlawful under the Foreign Corrupt Practices Act of 1977, and (5) income derived from a country, which is not recognized by the United States, with which the United States does not conduct or has severed diplomatic relations, or which repeatedly provides support for acts of international terrorism.

Taxes Deemed Paid.–A U.S. corporation, which received actual or constructive dividends from a related foreign subsidiary, is allowed to include a portion of the foreign taxes paid by the subsidiary for purposes of determining the foreign tax credit. The foreign taxes paid by the foreign subsidiary are considered to be indirectly, or deemed, paid by the related U.S. corporation. See column 52 of Table 1, column 38 of Table 2, and column 24 of Table 3.

U.S. Person.–A U.S. person is any citizen or resident of the United States, domestic partnership, corporation, association, company, or any estate or trust that is not considered “foreign.” See Internal Revenue Code section 7701 for more information on the definition of a U.S. person.

Notes and References

[1] Except where noted otherwise, foreign-source taxable income refers to foreign-source taxable income (less loss) before adjustments made on Form 1118, Schedule J. Foreign- source taxable income before adjustments is shown in column 37 of Table 1, column 23 of Table 2, and column 14 of Table 3.

[2] The recognition of active earnings and profits of a foreign subsidiary by the U.S. parent corporation is deferred, for U.S. tax purposes, until they are distributed or deemed distributed.

[3] Corporations may also choose to deduct their taxes paid on foreign-source income. For most corporations, however, the foreign tax credit provisions are more beneficial since they offer a dollar for dollar credit up to certain limitations.

[4] Because tax returns for FSC’s were not included in the sample used for the statistics, this income category is not included. However, distributions from FSC’s or former FSC’s are reported on the parent corporation’s return and are included in these statistics when provided by taxpayers. In this study, this particular statutory category is used when corporations report an anomalous separate category of income that is otherwise unsuited for one of the existing categories of income.

[5] See States, William “Corporate Foreign Tax Credit, 1980: An Industry Focus,” Statistics of Income Bulletin, Summer 1984, Volume 4, Number 1.

[6] The foreign tax credit is then also subject to a reduction on Form 1118, Schedule B, Part III for international boycott operations. This amount, however, is minor. This reduction, once in excess of $2.7 million in the late 1970’s, is now approximately $116,000 for 1996.

[7] The foreign tax credit limitation provisions can render part or all of the foreign taxes “unusable” under several conditions. Most commonly, the effective foreign tax rate on foreign-source income could be in excess of the U.S. tax rate or the corporation could have either an overall loss (and thus no denominator in the limitation calculation) or a foreign-source loss (and thus no numerator). The unusable current-year taxes can be carried forward or carried back subject to the applicable provisions of the carry-to year.

[8] The income, deductions, and taxes related to foreign oil and gas extraction income (FOGEI) are reported on Schedule I, Reduction of Oil and Gas Extraction Taxes, of Form 1118, Foreign Tax Credit–Corporations. To claim the credit, the taxpayer must separate oil and gas income into two categories based on the activity producing the income: foreign oil and gas extraction income (FOGEI) and foreign oil-related income (FORI). See the Explanation of Selected Terms section for further definitions of these two classifications.

[9] Internal Revenue Service, Statistics of Income-1996, Corporation Income Tax Returns, Publication 16, Rev. 9-1999.

Nick Ward is an economist with the Special Studies Returns Analysis Section. This article was prepared under the direction of Chris Carson, Chief

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