- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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Carrier Global Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2020
- Current Ratio since 2020
- Total Asset Turnover since 2020
- Price to Book Value (P/BV) since 2020
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Income Tax Expense (Benefit)
12 months ended: | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||||
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Federal | |||||||
State | |||||||
United States | |||||||
Foreign | |||||||
Current | |||||||
Federal | |||||||
State | |||||||
United States | |||||||
Foreign | |||||||
Future | |||||||
Income tax expense |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Carrier Global Corp. current increased from 2020 to 2021 and from 2021 to 2022. |
Future | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Carrier Global Corp. future decreased from 2020 to 2021 and from 2021 to 2022. |
Income tax expense | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Carrier Global Corp. income tax expense decreased from 2020 to 2021 but then slightly increased from 2021 to 2022. |
Effective Income Tax Rate (EITR)
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
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Statutory U.S. federal income tax rate | ||||
State income tax | ||||
Tax on international activities | ||||
Separation impact | ||||
TCC acquisition impact | ||||
Other | ||||
Effective income tax rate |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Item | Description | The company |
---|---|---|
Effective income tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Carrier Global Corp. effective income tax rate decreased from 2020 to 2021 and from 2021 to 2022. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Item | Description | The company |
---|---|---|
Future income tax benefits | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Carrier Global Corp. future income tax benefits increased from 2020 to 2021 and from 2021 to 2022. |
Future income tax benefit (payables) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Carrier Global Corp. future income tax benefit (payables) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Carrier Global Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Carrier Global Corp. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Carrier Global Corp. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Carrier Global Corp. adjusted financial leverage ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Carrier Global Corp. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Carrier Global Corp. adjusted ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Carrier Global Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Net profit margin = 100 × Net income attributable to common shareowners ÷ Net sales
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to common shareowners ÷ Net sales
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Carrier Global Corp. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Carrier Global Corp. adjusted total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Financial leverage = Total assets ÷ Equity attributable to common shareowners
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted equity attributable to common shareowners
= ÷ =
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Carrier Global Corp. adjusted financial leverage ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 ROE = 100 × Net income attributable to common shareowners ÷ Equity attributable to common shareowners
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to common shareowners ÷ Adjusted equity attributable to common shareowners
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Carrier Global Corp. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 ROA = 100 × Net income attributable to common shareowners ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to common shareowners ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Carrier Global Corp. adjusted ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |