Corporate Tax Rate Report
2:54 AMPosted by: John S Kiernan
Concerns over the proper role of taxation lie at the very foundation of American history. They haven’t gone away, either. In fact, President Donald Trump signed a new overhauled tax plan into effect in December 2017, which will affect earnings in the 2018 fiscal year. One of the largest changes in the plan is that the federal corporate income tax rate was permanently lowered from 35 percent to 21 percent. Republicans champion the tax plan as beneficial to business and consumers and Democrats claim it will only increase the wealth of the already wealthy.
With businesses looking forward to a large tax cut in the future, WalletHub analyzed annual reports for the S&P 100 — the largest and most established companies on the stock market — in order to determine the federal, state and international tax rates they paid in 2017. You can find the results, our detailed methodology and additional expert commentary below.
- Main Findings
- Corporate Tax Rates
- Ask the Experts: Should Corporations Pay Less than Consumers?
- Historical S&P 100 Tax Rates
- Methodology
- The overall tax rate that S&P 100 companies pay, around 39 percent, is more than 10 percentage points higher than it paid in 2016.
- S&P 100 companies pay roughly 65 percent lower rates on international taxes than U.S. taxes.
- Tech companies, including Facebook Inc., Apple Inc. and Cisco Systems Inc., are still paying more than 15 percent lower rates abroad, continuing the trend from 2013, 2014. 2015 and 2016.
- More than ten S&P 100 companies are actually paying a negative overall tax rate and are therefore due a discrete net tax benefit: Charter Communications Inc., The Kraft Heinz Co., AT&T Inc., Berkshire Hathaway Inc., Pfizer Inc., Comcast Corp., Verizon Communications Inc., MetLife Inc., Union Pacific Corp., DowDuPont Inc., Netflix Inc., NextEra Energy Inc., Exxon Mobil Corp., Altria Group Inc., Exelon Corp. and Chevron Corp.
- Among the remaining companies that owe taxes, Occidental Petroleum Corp., NVIDIA Corporation, BlackRock Inc., Ford Motor Co. and Microsoft Corp. pay the lowest rates.
- The average S&P 100 company pays a 77 percent higher tax rate than the top 1 percent of consumers.
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Note: For visual purposes, we excluded the companies with the five highest and lowest effective tax rates.
Corporate Tax Rates| Company Name | Stock Symbol | 2017 Overall Tax Rate | 2017 State Tax Rate | 2017 Federal Tax Rate | 2017 U.S. Tax Rate | 2017 International Tax Rate | 2017 Actual Taxes Paid Rate |
|---|---|---|---|---|---|---|---|
| Average* | - | 38.79% | 3.89% | 49.45% | 68.50% | 24.12% | 21.33% |
| Apple Inc. | AAPL | 24.56% | 1.35% | 71.29% | 72.63% | 3.70% | 18.09% |
| AbbVie Inc. | ABBV | 31.29% | negative income | negative income | negative income | 10.69% | 21.95% |
| Abbott Laboratories | ABT | 84.18% | N/A | N/A | 513.31% | 15.44% | 25.55% |
| Accenture PLC | ACN | 21.25% | -3.50% | -19.28% | -22.78% | 23.79% | 27.92% |
| Allergan PLC | AGN | negative income | negative income | negative income | negative income | negative income | negative income |
| American International Group Inc. | AIG | 513.37% | N/A | N/A | 375.88% | negative income | 37.11% |
| The Allstate Corp. | ALL | 20.10% | N/A | N/A | N/A | N/A | 24.25% |
| Amgen Inc. | AMGN | 79.38% | 0.11% | 168.96% | 169.07% | 2.29% | 15.63% |
| Amazon.com Inc. | AMZN | 20.20% | 3.29% | -6.02% | -2.74% | negative income | 25.14% |
| American Express Co. | AXP | 63.10% | 3.56% | 55.85% | 59.41% | 139.07% | 18.88% |
| Boeing Co. | BA | 18.41% | 0.22% | 17.48% | 17.70% | 34.26% | 8.92% |
| Bank of America Corp. | BAC | 37.59% | 5.54% | 34.04% | 39.59% | 25.36% | 11.07% |
| Biogen Idec Inc. | BIIB | 47.94% | 1.89% | 68.99% | 70.88% | -3.19% | 20.79% |
| The Bank of New York Mellon Corp. | BK | 10.76% | 6.89% | -2.76% | 4.12% | 17.25% | 1.32% |
| Booking Holdings Inc. | BKNG | 46.78% | negative income | negative income | negative income | 16.57% | 15.97% |
| BlackRock Inc. | BLK | 5.15% | 3.55% | -6.55% | -3.00% | 19.00% | 21.45% |
| Bristol-Myers Squibb Co. | BMY | 81.00% | N/A | N/A | 168.64% | 10.91% | 10.64% |
| Berkshire Hathaway Inc. | BRKB | -90.26% | N/A | N/A | N/A | N/A | 13.78% |
| Citigroup Inc. | C | 129.12% | 6.85% | 278.49% | 285.34% | 25.79% | 9.15% |
| Caterpillar Inc. | CAT | 81.80% | -48.33% | 978.33% | 930.00% | 28.81% | 34.39% |
| Celgene Corp. | CELG | 31.85% | N/A | N/A | 284.49% | 2.79% | 11.01% |
| Charter Communications Inc. | CHTR | -883.95% | -0.88% | -883.07% | -883.95% | N/A | 3.99% |
| Colgate-Palmolive Co. | CL | 37.65% | N/A | N/A | 31.53% | 40.37% | 29.74% |
| Comcast Corp. | CMCSA | -49.46% | 2.00% | -57.59% | -55.59% | 38.30% | 26.48% |
| Capital One Financial Corp. | COF | 61.45% | 3.03% | 60.88% | 63.91% | 30.98% | 21.61% |
| ConocoPhillips | COP | negative income | negative income | negative income | negative income | 46.26% | negative income |
| Costco Wholesale Corp. | COST | 32.81% | 5.66% | 27.07% | 32.73% | 33.02% | 29.34% |
| Cisco Systems Inc. | CSCO | 21.80% | 5.93% | 52.57% | 58.50% | 12.92% | 22.32% |
| CVS Health Corp. | CVS | 19.80% | 5.78% | 14.02% | 19.80% | N/A | 35.18% |
| Chevron Corp. | CVX | -0.52% | negative income | negative income | negative income | 30.28% | 33.97% |
| Danaher Corp. | DHR | 15.96% | 5.36% | 2.55% | 7.91% | 19.67% | 23.44% |
| The Walt Disney Co. | DIS | 32.07% | 2.89% | 28.54% | 31.43% | 38.91% | 27.57% |
| Duke Energy Corp. | DUK | 28.04% | 2.52% | 26.08% | 28.60% | 5.08% | 0.09% |
| DowDuPont Inc. | DWDP | -39.90% | negative income | negative income | negative income | 33.93% | 114.67% |
| Emerson Electric Co. | EMR | 28.27% | 3.26% | 26.52% | 29.78% | 26.19% | 60.81% |
| Exelon Corp. | EXC | -3.33% | N/A | N/A | N/A | N/A | 14.38% |
| Ford Motor Co. | F | 6.38% | 5.77% | -25.18% | -19.40% | 44.30% | 7.19% |
| Facebook Inc. | FB | 22.63% | 2.22% | 58.75% | 60.97% | 2.55% | 10.28% |
| FedEx Corp. | FDX | 34.55% | 4.02% | 34.37% | 38.39% | 19.26% | 8.23% |
| Twenty-First Century Fox | FOX | 30.26% | N/A | N/A | N/A | N/A | 19.77% |
| General Dynamics Corp. | GD | 28.57% | 1.08% | 24.70% | 25.77% | 24.91% | 15.13% |
| General Electric Co | GE | negative income | negative income | negative income | negative income | 21.51% | negative income |
| Gilead Sciences Inc. | GILD | 65.67% | 0.95% | 107.35% | 108.30% | 2.10% | 24.70% |
| General Motors Co. | GM | 97.22% | -1.24% | 93.45% | 92.21% | 284.38% | 5.53% |
| Alphabet Inc. | GOOG | 53.44% | N/A | N/A | 119.89% | 10.32% | 22.77% |
| The Goldman Sachs Group Inc. | GS | 61.50% | 3.10% | 75.90% | 79.00% | 30.45% | 12.76% |
| Halliburton Co. | HAL | 165.84% | 5.62% | 91.93% | 97.55% | negative income | -26.10% |
| The Home Depot Inc. | HD | 37.00% | 4.64% | 32.02% | 36.66% | 41.24% | 34.55% |
| Honeywell International Inc. | HON | 75.40% | 6.87% | 74.34% | 81.20% | 71.38% | 25.37% |
| International Business Machines Corp. | IBM | 49.49% | 14.82% | 440.18% | 455.00% | 28.54% | 14.01% |
| Intel Corp. | INTC | 52.83% | N/A | 89.64% | N/A | N/A | 18.79% |
| Johnson & Johnson | JNJ | 92.64% | N/A | N/A | 205.82% | 49.66% | 18.74% |
| JPMorgan Chase & Co. | JPM | 31.92% | 4.84% | 29.12% | 33.96% | 25.65% | 12.05% |
| The Kraft Heinz Co. | KHC | -98.73% | 1.42% | -149.97% | -148.56% | 18.02% | 21.81% |
| Kinder Morgan Inc. | KMI | 89.68% | -0.61% | 95.39% | 94.79% | 35.14% | -6.48% |
| The Coca-Cola Co. | KO | 82.47% | negative income | negative income | negative income | 23.82% | 28.24% |
| Eli Lilly and Co. | LLY | 109.29% | 1.33% | 212.65% | 213.98% | -11.66% | 11.22% |
| Lockheed Martin Corp. | LMT | 63.39% | N/A | N/A | N/A | N/A | 20.88% |
| Lowe's Cos. | LOW | 37.20% | 4.52% | 32.68% | 37.20% | N/A | 30.48% |
| Mastercard Inc. | MA | 39.97% | 1.90% | 52.79% | 54.68% | 23.13% | 29.02% |
| McDonald's Corp. | MCD | 39.44% | 8.14% | 85.22% | 93.37% | 20.34% | 32.50% |
| Mondelez International Inc. | MDLZ | 22.02% | 18.64% | 18.64% | 37.29% | 20.07% | 27.14% |
| Medtronic Inc. | MDT | 12.56% | negative income | negative income | negative income | 7.51% | 22.36% |
| MetLife Inc. | MET | -41.57% | 0.73% | -382.89% | -382.16% | 40.11% | 43.27% |
| 3M Co. | MMM | 35.49% | 1.78% | 28.54% | 30.32% | 23.48% | 21.25% |
| Altria Group Inc. | MO | -4.06% | 4.61% | -8.84% | -4.23% | 84.21% | 30.89% |
| Merck & Co. | MRK | 62.92% | 4.94% | 75.42% | 80.36% | 42.92% | 75.14% |
| Morgan Stanley | MS | 40.07% | 3.68% | 55.08% | 58.76% | 17.53% | 13.36% |
| Microsoft Corp. | MSFT | 8.40% | N/A | N/A | N/A | N/A | 10.37% |
| NextEra Energy Inc. | NEE | -13.99% | N/A | N/A | N/A | N/A | 3.04% |
| Netflix Inc. | NFLX | -15.17% | -41.84% | -69.20% | -111.04% | 25.32% | 23.41% |
| Nike Inc. | NKE | 13.22% | 5.89% | 9.60% | 15.48% | 12.45% | 14.39% |
| NVIDIA Corporation | NVDA | 4.66% | 0.06% | 5.50% | 5.56% | 3.76% | 0.69% |
| Oracle Corp. | ORCL | 18.95% | 6.26% | 20.80% | 27.06% | 15.36% | 17.22% |
| Occidental Petroleum Corp. | OXY | 1.28% | negative income | negative income | negative income | 47.50% | 0.00% |
| PepsiCo Inc. | PEP | 48.89% | 6.17% | 109.10% | 115.27% | 11.63% | 20.43% |
| Pfizer Inc. | PFE | -73.54% | negative income | negative income | negative income | 14.27% | 20.23% |
| The Procter & Gamble Co. | PG | 23.10% | N/A | 17.26% | 19.93% | 29.89% | 28.02% |
| Philip Morris International Inc. | PM | 40.67% | N/A | N/A | N/A | 28.61% | 32.14% |
| PayPal Holdings Inc. | PYPL | 18.41% | negative income | negative income | negative income | 5.51% | 5.32% |
| Qualcomm Inc. | QCOM | 18.38% | negative income | negative income | negative income | 28.08% | 33.11% |
| Raytheon Co. | RTN | 35.79% | -0.03% | 34.92% | 34.89% | 67.44% | 28.20% |
| Starbucks Corp. | SBUX | 33.18% | 5.45% | 31.01% | 36.46% | 21.14% | 32.17% |
| Schlumberger Ltd. | SLB | negative income | negative income | negative income | negative income | negative income | negative income |
| The Southern Co. | SO | 13.30% | N/A | N/A | N/A | N/A | -38.39% |
| Simon Property Group Inc. | SPG | N/A | N/A | N/A | N/A | N/A | N/A |
| AT&T Inc. | T | -97.15% | 6.81% | -105.17% | -98.36% | negative income | 13.25% |
| Target Corp. | TGT | 19.69% | 4.55% | 17.51% | 22.06% | 10.11% | 25.62% |
| Texas Instruments Inc. | TXN | 39.44% | 0.23% | 41.95% | 42.18% | 24.63% | 29.61% |
| UnitedHealth Group Inc. | UNH | 22.82% | N/A | N/A | N/A | N/A | 28.55% |
| Union Pacific Corp. | UNP | -40.36% | N/A | N/A | N/A | N/A | 27.67% |
| United Parcel Service Inc. | UPS | 31.31% | 2.78% | 29.88% | 32.66% | 24.26% | 21.81% |
| U.S. Bancorp | USB | 16.82% | N/A | N/A | N/A | N/A | 7.38% |
| United Technologies Corp. | UTX | 36.62% | 4.95% | 51.84% | 56.79% | 23.99% | 17.08% |
| Visa Inc. | V | 42.71% | 4.23% | 47.20% | 51.43% | 20.10% | 25.98% |
| Verizon Communications Inc. | VZ | -48.34% | 3.26% | -54.62% | -51.36% | 14.12% | 21.52% |
| Walgreens Boots Alliance Inc. | WBA | 15.66% | 1.08% | 23.20% | 24.27% | 9.86% | 22.67% |
| Wells Fargo & Co. | WFC | 17.96% | 4.81% | 15.67% | 20.48% | 3.23% | 24.08% |
| Wal-Mart Stores Inc. | WMT | 30.42% | 3.67% | 27.76% | 31.42% | 27.97% | 40.86% |
| Exxon Mobil Corp. | XOM | -6.29% | negative income | negative income | negative income | 38.02% | 40.22% |
*Averages reflect rates for S&P 100 companies, minus those with negative income before income taxes, those with no available data, and the five highest/lowest rates in each category.
The table below shows the federal tax rates at different income levels and how they contrast with actual tax rates paid by S&P 100 companies.
| Taxable Income ($) | Tax Rate |
|---|---|
| $0 to $50,000 | 15% |
| $50,000 to $75,000 | $7,500 + 25% of amount over $50,000 |
| $75,000 to $100,000 | $13,750 + 34% of amount over $75,000 |
| $100,000 to $335,000 | $22,250 + 39% of amount over $100,000 |
| $335,000 to $10,000,000 | $113,900 + 34% of amount over $335,000 |
| $10,000,000 to $15,000,000 | $3,400,000 + 35% of amount over $10,000,000 |
| $15,000,000 to $18,333,333 | $5,150,000 + 38% of amount over $15,000,000 |
| $18,333,333 or more | 35% |
| Effective Federal Tax Rate paid by S&P 100 Companies in 2017 | 49% |
Ask the Experts: Should Corporations Pay Less than Consumers?
For insight into the country’s current corporate tax system as well as its potential fixes, we turned to experts in the fields of accounting and tax law for their thoughts on the following key questions
- Are the current multiple trade disputes going to send the stock market into depression? What risks these disputes pose for the investors?
- Is the U.S. leaving money on the table with the current corporate tax structure?
- What would you change about the way U.S. corporations are taxed?
- Do you consider tax-inversion deals to be unpatriotic?
- What should the relationship be between corporate and consumer taxes?
Zhenhua Chen Ph.D. – Assistant Professor of Accounting, University of San Diego School of Business
Jonathan Handy Assistant Professor of Finance, Furman University
Derek Horstmeyer Assistant Professor of Finance, George Mason University, School of Business
Valrie Chambers Ph.D., CPA – Associate Professor of Taxation and Accounting, Chair of the M.E. Rinker, Sr. Institute for Tax and Accountancy, Stetson University
Zhenhua Chen Ph.D. – Assistant Professor of Accounting, University of San Diego School of Business
Jonathan Handy Assistant Professor of Finance, Furman University
Derek Horstmeyer Assistant Professor of Finance, George Mason University, School of Business
Valrie Chambers Ph.D., CPA – Associate Professor of Taxation and Accounting, Chair of the M.E. Rinker, Sr. Institute for Tax and Accountancy, Stetson University| Company Name | Stock Symbol | 2016 Overall Tax Rate | 2016 State Tax Rate | 2016 Federal Tax Rate | 2016 International Tax Rate | 2015 Overall Tax Rate | 2015 State Tax Rate | 2015 Federal Tax Rate | 2015 International Tax Rate | 2014 Overall Tax Rate | 2014 State Tax Rate | 2014 Federal Tax Rate | 2014 International Tax Rate | 2013 Overall Tax Rate | 2013 State Tax Rate | 2013 Federal Tax Rate | 2013 International Tax Rate | 2012 Overall Tax Rate | 2012 State Tax Rate | 2012 Federal Tax Rate | 2012 International Tax Rate | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Average | - | 26.58% | 3.25% | 28.80% | 22.23% | 27.82% | 3.37% | 31.30% | 20.26% | 28.4% | 3.3% | 28.6% | 24.8% | 28.3% | 3.8% | 29.5% | 25.0% | 26.9% | 3.1% | 29.2% | 23.1% | ||||
| 3M Co. | MMM | 28.29% | 1.92% | 27.23% | 26.87% | 29.05% | 29.17% | 2.43% | 24.42% | 28.9% | 24.4% | 2.6% | 31.0% | 28.1% | 2.8% | 25.8% | 27.5% | 29.0% | 2.9% | 25.5% | 29.4% | ||||
| Abbott Laboratories | ABT | 24.77% | N/A | N/A | 38.48% | 18.13% | N/A | N/A | 8.35% | 31.7% | N/A | N/A | 22.2% | 5.5% | NA | NA | 21.6% | -89.8% | neg income | neg income | 17.5% | ||||
| AbbVie Inc. | ABBV | 24.49% | neg income | neg income | 5.18% | 22.59% | neg income | neg income | 4.22% | 25.1% | neg income | neg income | 4.7% | neg income | neg income | neg income | neg income | 7.9% | NA | NA | 5.2% | ||||
| Accenture PLC | ACN | 22.38% | 3.75% | 30.80% | 19.58% | 25.77% | 39.57% | 4.61% | 17.90% | 26.1% | 37.9% | 4.4% | 20.4% | 18.1% | 0.4% | 13.6% | 19.4% | 27.6% | 5.9% | 37.3% | 23.9% | ||||
| Allergan PLC | AGN | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| The Allstate Corp. | ALL | 31.84% | N/A | N/A | N/A | 33.85% | N/A | N/A | N/A | 32.7% | N/A | N/A | N/A | 32.9% | NA | NA | NA | 30.2% | NA | NA | NA | ||||
| Altria Group Inc. | MO | 34.82% | 1.87% | 32.90% | neg income | 35.10% | 29.41% | 5.68% | N/A | 34.8% | 28.7% | 6.1% | N/A | 34.7% | 6.0% | 28.7% | NA | 35.4% | 5.2% | 30.2% | 31.3% | ||||
| Amazon.com Inc. | AMZN | 36.61% | 3.89% | 27.51% | neg income | 60.59% | 31.47% | 3.02% | neg income | neg income | 30.5% | 18.5% | neg income | 31.8% | NA | NA | neg income | 78.7% | NA | NA | neg income | ||||
| American Electric Power Co. | AEP | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 31.5% | NA | NA | NA | 32.4% | -2.3% | 34.6% | NA | ||||
| American Express Co. | AXP | 33.20% | 3.22% | 26.02% | neg income | 34.96% | 26.02% | 4.12% | neg income | 34.5% | 28.1% | 3.4% | 258.2% | 32.1% | 3.8% | 24.0% | 188.5% | 30.5% | 3.5% | 20.7% | neg income | ||||
| American International Group Inc. | AIG | neg income | N/A | N/A | neg income | 32.28% | N/A | N/A | 22.24% | 27.9% | N/A | N/A | 27.9% | 3.8% | NA | NA | 8.1% | -27.9% | neg income | neg income | 5.4% | ||||
| Amgen Inc. | AMGN | 15.73% | -0.09% | 30.28% | 1.90% | 13.02% | 21.63% | -0.98% | 5.80% | 7.6% | 15.4% | 3.6% | 3.5% | 3.5% | 2.9% | -2.0% | 4.6% | 13.3% | 0.2% | 30.5% | 4.2% | ||||
| Andarko Petroleum Corp. | APC | N/A | N/A | N/A | N/A | neg income | neg income | neg income | neg income | 2994.4% | neg income | neg income | 49.4% | 55.3% | 7.7% | 48.4% | 55.1% | 31.4% | 106.1% | 11.4% | 28.1% | ||||
| Apache Corp. | APA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 45.7% | 3.7% | 40.3% | 46.4% | 59.0% | 0.6% | 27.8% | 74.0% | ||||
| Apple Inc. | AAPL | 25.56% | 4.20% | 62.62% | 5.20% | 26.37% | 60.76% | 4.19% | 6.17% | 26.1% | 59.4% | 3.4% | 4.4% | 26.2% | 3.9% | 57.0% | 3.7% | 25.2% | 5.6% | 64.6% | 1.9% | ||||
| AT&T Inc. | T | 32.70% | 2.97% | 28.89% | neg income | 33.85% | 29.39% | 3.45% | neg income | 34.6% | N/A | N/A | N/A | 33.2% | NA | NA | NA | 27.8% | NA | 25.9% | NA | ||||
| Bank of America Corp. | BAC | 28.81% | -0.71% | 25.72% | 59.88% | 28.28% | 21.73% | 3.62% | 58.72% | 29.5% | 22.1% | 9.2% | 25.8% | 29.3% | 5.2% | 16.9% | 61.4% | -36.3% | 28.8% | -159.3% | 109.7% | ||||
| Baxter International Inc. | BAX | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 21.1% | 5.2% | 33.4% | 17.4% | 19.5% | -6.7% | 60.6% | 14.2% | ||||
| Berkshire Hathaway Inc. | BRK.B | 27.45% | N/A | N/A | N/A | 30.14% | N/A | N/A | N/A | 28.2% | N/A | N/A | N/A | 31.1% | NA | NA | NA | 31.1% | NA | NA | NA | ||||
| Biogen Idec Inc. | BIIB | 25.08% | 1.40% | 32.25% | 0.57% | 24.37% | 32.02% | 1.08% | 2.93% | 25.1% | 34.4% | 1.7% | 4.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Boeing Co. | BA | 12.09% | -0.60% | 11.11% | 32.82% | 27.66% | 26.44% | 0.70% | 38.53% | 23.7% | 22.0% | 0.9% | 40.6% | 26.4% | 1.3% | 24.4% | 40.9% | 34.0% | 1.8% | 33.0% | 14.8% | ||||
| Bristol-Myers Squibb Co. | BMY | 23.80% | N/A | N/A | 12.97% | 21.47% | neg income | neg income | 14.77% | 14.8% | neg income | neg income | 15.4% | neg income | neg income | neg income | neg income | -6.9% | neg income | neg income | 14.4% | ||||
| Capital One Financial Corp. | COF | 31.25% | 2.81% | 28.21% | 35.54% | 31.78% | 29.02% | 3.00% | 27.08% | 32.7% | 29.6% | 3.6% | 25.3% | 31.6% | 4.0% | 27.9% | 25.9% | 25.8% | 1.5% | 24.7% | 20.9% | ||||
| Caterpillar Inc. | CAT | 138.13% | neg income | neg income | 27.83% | 25.99% | 9.96% | 9.96% | 26.55% | 27.1% | 27.1% | 1.3% | 26.3% | 25.7% | 1.8% | 25.1% | 25.0% | 30.7% | 1.6% | 31.9% | 28.0% | ||||
| Celgene Corp. | CELG | 15.73% | N/A | N/A | 6.37% | 20.83% | N/A | N/A | 4.43% | 14.1% | N/A | N/A | 3.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Chevron Corp. | CVX | neg income | neg income | neg income | 27.26% | 2.73% | neg income | neg income | 23.64% | 38.1% | 33.0% | 5.9% | 37.9% | 39.8% | 4.2% | 24.5% | 41.5% | 43.2% | 6.0% | 28.1% | 45.2% | ||||
| Cisco Systems Inc. | CSCO | 16.88% | 3.13% | 26.56% | 13.16% | 19.82% | 45.55% | 3.08% | 6.34% | 19.2% | 47.1% | 4.1% | 6.6% | 11.1% | 3.5% | 20.3% | 4.8% | 20.8% | 2.0% | 48.4% | 7.0% | ||||
| Citigroup Inc. | C | 30.00% | 5.16% | 23.25% | 31.36% | 29.97% | 28.69% | 1.23% | 30.03% | 47.8% | 55.5% | 20.1% | 36.1% | 30.1% | 7.9% | 35.8% | 23.5% | 0.1% | neg income | neg income | 32.4% | ||||
| The Coca-Cola Co. | KO | 19.49% | 19.47% | 273.45% | 15.64% | 23.31% | 46.14% | 6.33% | 16.58% | 23.6% | 49.1% | 3.8% | 17.7% | 24.8% | 5.7% | 41.5% | 18.8% | 23.1% | 3.0% | 43.6% | 13.0% | ||||
| Colgate-Palmolive Co. | CL | 30.82% | N/A | N/A | 29.72% | 43.97% | N/A | N/A | 102.01% | 33.8% | N/A | N/A | 69.4% | 32.4% | NA | NA | 66.0% | 32.1% | NA | NA | NA | ||||
| Comcast Corp. | CMCSA | 36.98% | 4.70% | 32.50% | 33.52% | 37.08% | 64.75% | 10.04% | 3.17% | 31.1% | 28.1% | 2.9% | 34.8% | 35.8% | 6.5% | 29.3% | 35.1% | 32.3% | 3.5% | 28.3% | 43.3% | ||||
| ConocoPhillips | COP | neg income | neg income | neg income | neg income | neg income | neg income | neg income | neg income | 38.2% | 23.9% | -2.9% | 43.8% | 44.4% | 2.4% | 30.4% | 50.6% | 51.5% | 6.3% | 16.9% | 61.6% | ||||
| Costco Wholesale Corp. | COST | 34.35% | 4.92% | 26.74% | 41.42% | 33.16% | 29.29% | 5.13% | 30.00% | 34.7% | 27.6% | 4.8% | 39.4% | 32.4% | 5.5% | 28.4% | 29.5% | 36.1% | 5.6% | 33.3% | 30.8% | ||||
| CVS Health Corp. | CVS | 38.40% | N/A | N/A | N/A | 39.30% | N/A | N/A | N/A | 39.5% | N/A | N/A | N/A | 38.9% | NA | NA | NA | 38.6% | 6.2% | 32.4% | NA | ||||
| Devon Energy Corp. | DVN | N/A | N/A | N/A | N/A | neg income | neg income | neg income | neg income | 58.3% | 40.2% | 2.5% | neg income | 113.4% | 8.4% | 42.0% | 31.4% | neg income | neg income | neg income | neg income | ||||
| Dow Chemical Co. | DOW | 0.20% | 2.27% | -240.00% | 29.58% | 21.62% | 17.71% | 0.56% | 25.47% | 27.1% | 17.0% | 2.4% | 30.6% | 29.2% | -0.8% | 27.2% | 33.1% | 33.9% | neg income | neg income | 30.8% | ||||
| DuPont Co. | DD | 22.79% | -1.24% | 4.60% | 38.44% | 26.86% | 25.55% | 0.79% | 27.47% | 27.4% | 30.9% | 0.6% | 22.3% | 17.9% | -4.4% | -3.4% | 27.7% | 19.9% | -4.7% | 2.5% | 25.7% | ||||
| eBay Inc. | EBAY | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 17.6% | -4.4% | 79.6% | 5.7% | 15.4% | 6.4% | 59.7% | 3.0% | ||||
| EMC Corp. | EMC | N/A | N/A | N/A | N/A | 24.64% | 40.64% | 0.55% | 11.38% | 23.1% | 33.0% | 0.6% | 11.7% | 20.0% | 3.9% | 34.2% | 7.7% | 24.1% | 3.3% | 37.5% | 7.6% | ||||
| Emerson Electric Co. | EMR | 30.09% | 1.14% | 30.18% | 28.49% | 34.32% | 32.01% | 3.63% | 31.21% | 34.8% | 29.2% | 2.6% | 39.7% | 35.4% | 3.6% | 37.6% | 28.5% | 35.0% | 3.3% | 35.6% | 30.1% | ||||
| Exelon Corp. | EXC | 38.26% | N/A | N/A | N/A | 32.18% | N/A | N/A | N/A | 26.8% | N/A | N/A | N/A | 38.5% | NA | NA | NA | 34.9% | NA | NA | NA | ||||
| Exxon Mobil Corp. | XOM | -5.09% | neg income | neg income | 19.09% | 34.00% | -793.20% | -8.16% | 30.04% | 41.0% | 25.9% | -5.5% | 38.0% | 42.0% | NA | 9.8% | 47.7% | 39.4% | NA | 25.7% | 40.7% | ||||
| Facebook Inc. | FB | 18.38% | 2.53% | 30.94% | 2.76% | 40.46% | 78.94% | 5.92% | 3.77% | 40.1% | 35.8% | 2.4% | neg income | 45.5% | 1.9% | 35.2% | neg income | 89.3% | 3.7% | 36.4% | neg income | ||||
| FedEx Corp. | FDX | 33.58% | 2.94% | 36.40% | 21.88% | 35.46% | 37.59% | 6.44% | 26.00% | 36.5% | 30.3% | 4.3% | 51.5% | 36.4% | 3.1% | 27.4% | neg income | 35.3% | 3.6% | 29.7% | 50.6% | ||||
| Ford Motor Co. | F | 32.21% | 4.50% | 22.81% | 49.08% | 28.10% | 29.20% | 4.99% | 21.40% | 37.7% | 7.4% | 5.6% | neg income | -2.5% | -8.4% | -3.4% | neg income | 28.8% | -2.5% | 31.3% | 29.2% | ||||
| Freeport-McMoRan Inc. | FCX | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30.0% | -2.4% | 39.6% | 37.5% | 27.5% | 1.6% | 21.1% | 34.6% | ||||
| General Dynamics Corp. | GD | 27.63% | 1.04% | 27.87% | 19.73% | 27.72% | 27.12% | 1.02% | 25.13% | 29.7% | 29.3% | 0.8% | 26.6% | 31.1% | 0.9% | 29.7% | 35.3% | 161.4% | -1.9% | 98.0% | neg income | ||||
| General Electric Co | GE | -5.14% | -1.54% | -158.51% | 43.12% | 79.23% | neg income | neg income | 55.87% | 10.3% | -2.3% | -4.3% | 18.0% | 4.2% | 4.7% | -36.6% | 26.1% | 13.6% | NA | 3.3% | 23.1% | ||||
| General Motors Co. | GM | 25.70% | 2.92% | 13.93% | 198.04% | -34.34% | 17.98% | 3.47% | neg income | 10.6% | -35.9% | 5.6% | 157.4% | 28.5% | 29.3% | 132.2% | 18.2% | neg income | neg income | neg income | neg income | ||||
| Gilead Sciences Inc. | GILD | 21.11% | 2.08% | 42.72% | 1.95% | 16.40% | 40.93% | 1.72% | 1.17% | 18.8% | 39.4% | 1.8% | 0.7% | 27.3% | 1.2% | 31.3% | 3.5% | 28.8% | 1.3% | 35.9% | 3.0% | ||||
| The Goldman Sachs Group Inc. | GS | 28.20% | 2.99% | 22.53% | 31.60% | 30.70% | 45.04% | 1.49% | 20.26% | 31.4% | 29.4% | 8.6% | 21.8% | 31.5% | 7.8% | 35.3% | 14.9% | 33.3% | 9.6% | 34.1% | 15.7% | ||||
| Alphabet Inc. | GOOG | 19.35% | 2.55% | 28.70% | 7.55% | 16.81% | 36.72% | -5.32% | 6.20% | 19.3% | 30.9% | 1.9% | 7.8% | 15.7% | 2.1% | 24.3% | 8.6% | 19.4% | 2.9% | 37.9% | 5.3% | ||||
| Halliburton Co. | HAL | neg income | neg income | neg income | neg income | neg income | neg income | neg income | -59.94% | 27.1% | 29.0% | 0.7% | 22.3% | 23.4% | 4.4% | 22.5% | 21.3% | 32.3% | 2.1% | 30.5% | 31.4% | ||||
| HP Inc. | HPQ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 23.5% | 23.0% | 0.4% | 23.6% | 21.5% | 8.6% | -7.3% | 35.0% | neg income | neg income | neg income | neg income | ||||
| The Home Depot Inc. | HD | 36.30% | 4.11% | 32.57% | 31.53% | 36.40% | 31.83% | 4.66% | 35.26% | 36.4% | 32.7% | 3.9% | 34.0% | 36.4% | 4.5% | 32.1% | 34.6% | 37.2% | 4.5% | 32.6% | 38.4% | ||||
| Honeywell International Inc. | HON | 24.83% | 3.83% | 30.48% | 16.71% | 26.40% | 29.22% | 3.78% | 19.53% | 25.6% | 25.7% | 3.1% | 21.3% | 26.8% | 5.6% | 27.4% | 19.0% | 24.4% | 1.6% | 31.5% | 17.0% | ||||
| Intel Corp. | INTC | 20.25% | N/A | 28.42% | N/A | 19.65% | 22.34% | N/A | N/A | 25.9% | 26.9% | N/A | N/A | 23.7% | NA | 24.7% | NA | 26.0% | NA | 26.6% | NA | ||||
| International Business Machines Corp. | IBM | 3.64% | 5.48% | -15.34% | 9.32% | 16.19% | 3.92% | 4.13% | 20.99% | 21.2% | 16.5% | 5.8% | 20.5% | 15.6% | -2.1% | 11.0% | 19.2% | 24.2% | 4.4% | 18.2% | 25.4% | ||||
| Johnson & Johnson | JNJ | 16.48% | N/A | N/A | 8.69% | 19.73% | N/A | N/A | 9.10% | 20.6% | N/A | N/A | 14.9% | 10.6% | NA | NA | 11.6% | 23.7% | NA | NA | 14.9% | ||||
| JPMorgan Chase & Co. | JPM | 28.38% | 4.74% | 25.71% | 21.40% | 20.39% | 18.86% | 3.29% | 14.98% | 27.0% | 23.8% | 5.6% | 19.6% | 30.8% | 5.3% | 33.5% | 15.2% | 26.4% | 2.9% | 21.9% | 36.2% | ||||
| Kinder Morgan Inc. | KMI | 55.98% | 1.57% | 57.98% | 25.58% | 73.06% | 86.42% | -1.80% | 29.19% | 21.0% | 18.9% | 1.7% | 28.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Eli Lilly and Co. | LLY | 18.86% | -5.05% | 19.48% | 29.20% | 13.68% | -2.98% | 5.60% | 19.63% | 20.3% | 14.3% | 19.7% | 16.9% | 20.5% | 3.4% | 15.5% | 22.9% | 24.4% | 2.2% | 23.4% | NA | ||||
| Lockheed Martin Corp. | LMT | 23.19% | N/A | N/A | N/A | 28.23% | N/A | N/A | N/A | 31.3% | N/A | N/A | N/A | 29.0% | NA | NA | NA | 32.6% | NA | NA | NA | ||||
| Lowe's Cos. | LOW | 40.53% | N/A | N/A | N/A | 42.39% | N/A | N/A | N/A | 36.9% | N/A | N/A | N/A | 37.8% | NA | NA | NA | 37.6% | 4.6% | 31.9% | neg income | ||||
| Mastercard Inc. | MA | 28.11% | 0.91% | 28.59% | 25.39% | 23.19% | 20.04% | 1.24% | 27.39% | 28.8% | 26.5% | 1.3% | 30.7% | 30.8% | 1.1% | 33.2% | 25.3% | 29.8% | 1.2% | 30.8% | 26.0% | ||||
| McDonald's Corp. | MCD | 31.74% | 6.57% | 44.89% | 23.29% | 30.91% | 41.54% | 5.22% | 20.51% | 35.5% | 38.9% | 5.3% | 30.5% | 31.9% | 5.8% | 44.1% | 22.0% | 32.4% | 6.8% | 44.3% | 22.0% | ||||
| Medtronic Inc. | MDT | 18.40% | N/A | N/A | 10.62% | 23.26% | N/A | N/A | 13.63% | 17.3% | N/A | N/A | 14.0% | 18.4% | NA | NA | 9.4% | 17.6% | NA | NA | 8.1% | ||||
| Merck & Co. | MRK | 15.41% | 22.39% | -17.18% | 16.69% | 17.44% | 8.01% | 3.60% | 21.59% | 30.9% | 31.6% | 0.9% | 15.3% | 18.5% | -2.7% | 17.0% | 25.8% | 27.9% | 0.4% | 46.6% | 7.7% | ||||
| MetLife Inc. | MET | neg income | neg income | neg income | 26.04% | 28.76% | 34.33% | N/A | 22.89% | 28.0% | 25.5% | 0.1% | 33.2% | 16.3% | -0.8% | -13.9% | 29.1% | 8.9% | neg income | neg income | 13.5% | ||||
| Microsoft Corp. | MSFT | 14.95% | neg income | neg income | N/A | 34.12% | N/A | N/A | N/A | 20.7% | N/A | N/A | N/A | 19.2% | NA | NA | NA | 23.8% | 9.6% | 139.7% | NA | ||||
| Mondelez International Inc. | MDLZ | 8.87% | neg income | neg income | 11.00% | 7.52% | 106.98% | 6.98% | 6.94% | 13.8% | neg income | neg income | 15.6% | neg income | neg income | neg income | neg income | 9.5% | neg income | neg income | 19.1% | ||||
| Monsanto Co. | MON | 34.91% | 2.47% | 19.49% | 70.22% | 27.33% | 27.92% | 3.20% | 19.93% | 28.2% | 28.3% | 2.6% | 23.4% | 26.7% | 2.2% | 24.8% | 26.0% | 30.2% | 3.3% | 28.3% | 27.5% | ||||
| Morgan Stanley | MS | 30.81% | 5.18% | 29.26% | 24.25% | 25.90% | 23.69% | 3.49% | 23.70% | -2.5% | -44.9% | 11.3% | 28.9% | 18.4% | 9.9% | 9.0% | 18.1% | -45.6% | neg income | neg income | 34.8% | ||||
| National Oilwell Varco Inc. | NOV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30.4% | 3.1% | 34.7% | 24.2% | 29.2% | 2.6% | 30.3% | 25.1% | ||||
| Nike Inc. | NKE | 18.67% | 5.75% | 25.84% | 15.30% | 22.16% | 26.94% | 3.51% | 14.88% | 24.0% | 9.1% | 3.3% | 98.7% | 24.7% | 5.2% | 35.1% | 15.2% | 25.0% | 7.0% | 30.0% | 20.7% | ||||
| Norfolk Southern Corp. | NSC | N/A | N/A | N/A | N/A | 36.28% | N/A | N/A | N/A | 36.2% | N/A | N/A | N/A | 35.6% | NA | NA | NA | 36.6% | 3.7% | 32.9% | NA | ||||
| Occidental Petroleum Corp. | OXY | neg income | neg income | neg income | 61.61% | neg income | neg income | neg income | neg income | 109.3% | neg income | neg income | 81.0% | 38.8% | 1.9% | 30.5% | 45.4% | 40.2% | 2.3% | 30.5% | 43.0% | ||||
| Oracle Corp. | ORCL | 22.21% | 6.20% | 29.21% | 15.02% | 22.57% | 33.98% | 5.14% | 11.52% | 20.1% | 28.6% | 4.4% | 11.6% | 21.4% | 5.1% | 23.3% | 15.0% | 23.0% | 4.3% | 29.9% | 12.5% | ||||
| PayPal Holdings Inc. | PYPL | 14.10% | neg income | neg income | 5.68% | 17.47% | neg income | neg income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| PepsiCo Inc. | PEP | 25.42% | 2.09% | 50.49% | 13.35% | 26.08% | 39.22% | 2.47% | 16.24% | 25.1% | 52.1% | 3.0% | 12.8% | 23.7% | 3.5% | 38.3% | 14.1% | 25.2% | 5.6% | 32.9% | 16.7% | ||||
| Pfizer Inc. | PFE | 13.45% | neg income | neg income | 8.04% | 22.20% | neg income | neg income | 10.57% | 25.5% | neg income | neg income | 12.8% | neg income | neg income | neg income | neg income | 19.8% | neg income | neg income | 16.4% | ||||
| Philip Morris International Inc. | PM | 27.89% | N/A | N/A | 25.33% | 27.96% | N/A | N/A | 27.32% | 29.1% | N/A | N/A | 28.1% | 29.3% | NA | NA | 27.3% | 29.5% | NA | NA | 28.2% | ||||
| The Procter & Gamble Co. | PG | 25.00% | N/A | 19.41% | 30.82% | 24.62% | 18.74% | 0.68% | 33.62% | 21.1% | 18.9% | N/A | 20.2% | 23.2% | NA | 24.7% | 16.9% | 27.1% | NA | 26.3% | NA | ||||
| Qualcomm Inc. | QCOM | 16.55% | 0.33% | -5.94% | 34.23% | 18.79% | -2.54% | 0.17% | 36.92% | 14.2% | 4.4% | 0.0% | 19.8% | 16.5% | 0.6% | 7.7% | 23.6% | 19.5% | -0.4% | 9.9% | 31.1% | ||||
| Raytheon Co. | RTN | 28.28% | -0.07% | 27.83% | 43.14% | 26.30% | 26.35% | -0.08% | 26.56% | 26.5% | 26.6% | N/A | 22.6% | 29.3% | NA | 29.1% | 33.8% | 31.6% | NA | 31.4% | 34.2% | ||||
| Schlumberger Ltd. | SLB | neg income | neg income | neg income | 49.83% | 25.89% | neg income | neg income | 28.92% | 25.2% | 26.3% | 2.1% | 24.2% | 21.3% | 2.9% | 30.1% | 18.3% | 24.4% | 2.3% | 29.9% | 21.0% | ||||
| The Southern Co. | SO | 27.33% | N/A | N/A | N/A | 32.90% | N/A | N/A | N/A | 32.5% | N/A | N/A | N/A | 33.2% | NA | NA | NA | 35.6% | 3.9% | 31.7% | NA | ||||
| Starbucks Corp. | SBUX | 32.86% | 5.63% | 30.90% | 16.86% | 29.30% | 30.22% | 5.43% | 12.39% | 34.6% | 32.4% | 5.0% | 22.0% | neg income | neg income | neg income | neg income | 32.8% | 4.7% | 30.7% | 21.1% | ||||
| Target Corp. | TGT | 32.69% | 4.46% | 31.11% | 1.49% | 32.54% | 30.33% | 4.73% | N/A | 33.0% | 31.6% | 3.7% | 2.3% | 36.5% | 3.8% | 32.1% | 33.7% | 34.9% | 3.0% | 32.4% | neg income | ||||
| Texas Instruments Inc. | TXN | 27.08% | 0.25% | 29.52% | 16.17% | 29.17% | 32.26% | 0.31% | 18.24% | 27.2% | 31.2% | 0.4% | 17.2% | 21.5% | 0.3% | 20.4% | 22.5% | 9.1% | -0.6% | -13.5% | 13.7% | ||||
| The Bank of New York Mellon Corp. | BK | 24.91% | 3.69% | 23.77% | 19.84% | 23.92% | 24.65% | 1.59% | 19.84% | 25.6% | 24.5% | 2.9% | 21.6% | 40.9% | 3.9% | 49.6% | 19.0% | 23.6% | 5.2% | 20.4% | 20.5% | ||||
| The Priceline Group Inc. | PCLN | 21.31% | neg income | neg income | 16.58% | 18.44% | 55.20% | 138.86% | 16.40% | 19.0% | 59.1% | 23.8% | 16.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Time Warner Inc. | TWX | 24.66% | 0.73% | 20.87% | 40.52% | 30.32% | 25.21% | 3.17% | 43.20% | 16.8% | 6.5% | 0.9% | 121.7% | 33.0% | 0.0% | 27.6% | 222.6% | 34.3% | 2.3% | 23.8% | 12066.7% | ||||
| Twenty-First Century Fox | FOXA | 27.20% | N/A | N/A | N/A | 12.62% | N/A | N/A | neg income | 24.5% | N/A | N/A | neg income | 19.3% | NA | NA | NA | 24.5% | NA | NA | NA | ||||
| Union Pacific Corp. | UNP | 37.44% | N/A | N/A | N/A | 37.67% | N/A | N/A | N/A | 37.9% | N/A | N/A | N/A | 37.7% | NA | NA | NA | 37.5% | 4.3% | 33.2% | NA | ||||
| United Parcel Service Inc. | UPS | 33.20% | 2.27% | 33.34% | 20.39% | 34.02% | 33.13% | 2.41% | 24.35% | 34.6% | 35.6% | 2.4% | 18.8% | 34.5% | 3.0% | 32.1% | 28.4% | 17.1% | -4.9% | 7.8% | 26.4% | ||||
| United Technologies Corp. | UTX | 23.79% | 4.46% | 13.73% | 26.88% | 32.64% | 37.38% | 2.59% | 27.11% | 25.5% | 17.7% | 0.2% | 32.5% | 26.9% | 2.5% | 24.0% | 27.3% | 24.8% | 4.6% | 28.4% | 19.8% | ||||
| UnitedHealth Group Inc. | UNH | 40.38% | N/A | N/A | N/A | 42.64% | N/A | N/A | N/A | 41.8% | N/A | N/A | N/A | 36.4% | NA | NA | NA | 35.9% | NA | NA | NA | ||||
| U.S. Bancorp | USB | 26.66% | N/A | N/A | N/A | 26.11% | N/A | N/A | N/A | 26.1% | N/A | N/A | N/A | 26.2% | NA | NA | NA | 28.9% | 4.4% | 24.6% | NA | ||||
| Verizon Communications Inc. | VZ | 35.16% | 3.56% | 32.51% | 15.55% | 34.93% | 32.03% | 3.38% | 13.14% | 21.7% | 20.1% | 4.9% | 3.2% | 19.6% | 3.2% | 16.9% | -11.5% | -6.7% | -3.1% | -3.6% | -6.0% | ||||
| Visa Inc. | V | 25.22% | 2.02% | 29.83% | 7.41% | 29.65% | 30.11% | 2.34% | 18.30% | 29.6% | 28.9% | 3.4% | 19.1% | 31.4% | 0.9% | 32.9% | 19.9% | 2.9% | -24.3% | 9.7% | 18.3% | ||||
| Walgreens Boots Alliance Inc. | WAG | 19.38% | 2.41% | 31.66% | 4.64% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 37.1% | 3.8% | 37.3% | 4.1% | 37.0% | NA | NA | NA | ||||
| Walgreens Boots Alliance Inc. | WBA | 19.38% | 2.41% | 31.66% | 4.64% | 19.88% | 30.20% | 3.85% | N/A | 42.9% | 41.1% | 3.1% | 17.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Wal-Mart Stores Inc. | WMT | 30.27% | 3.48% | 28.75% | 23.87% | 30.31% | 29.12% | 3.09% | 23.90% | 32.2% | 31.0% | 4.1% | 23.5% | 32.9% | 3.9% | 32.5% | 19.9% | 31.0% | 3.2% | 29.2% | 26.9% | ||||
| The Walt Disney Co. | DIS | 34.15% | 1.81% | 30.80% | 59.53% | 36.17% | 33.25% | 2.19% | 45.16% | 34.6% | 29.4% | 2.5% | 70.6% | 31.0% | 1.8% | 26.6% | 68.2% | 33.3% | 2.8% | 30.1% | 36.5% | ||||
| Wells Fargo & Co. | WFC | 31.37% | 5.69% | 27.62% | 7.25% | 30.81% | 27.73% | 4.53% | 7.80% | 30.4% | 29.4% | 2.3% | 6.9% | 31.9% | 4.1% | 29.2% | 5.6% | 32.0% | 3.8% | 29.4% | 6.2% | ||||
| BlackRock Inc. | BLK | 28.91% | 2.64% | 31.34% | 20.06% | 27.20% | 32.54% | 1.94% | 15.44% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Danaher Corp. | DHR | 17.54% | 3.01% | -0.05% | 22.34% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| NextEra Energy Inc. | NEE | 31.52% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Duke Energy Corp. | DUK | 30.64% | 2.76% | 28.84% | 4.44% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| The Kraft Heinz Co. | KHC | 27.49% | 0.48% | 33.53% | 14.35% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
In order to determine the tax rates paid by the S&P 100, we examined data from each company’s annual reports from fiscal years 2012 to 2017, identifying each organization’s revenues, tax payments and deferral amounts at the federal, state and international levels. This allowed us to determine their effective tax rates in each jurisdiction.
For simplicity, we considered companies for inclusion in the “highest & lowest” subrankings above only if they were actually profitable. Including companies that weren't profitable in a certain jurisdiction, for example, would lead to distortionary outliers.
For similar reasons, when calculating averages, we also excluded the five companies with the highest and lowest rates in each category.
Sources: Data used to compile this report were collected from the Internal Revenue Service, Quantria Strategies and corporate annual reports.
Image: ibreakstock / Shutterstock.com
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