Calcbench

Some of you may have noticed that companies are disclosing more tax information lately, thanks to a new accounting rule that requires filers to break out taxes paid to federal, state, local, and even overseas tax authorities. If tax analysis is your thing, fear not! Calcbench has an easy way to find all this information and we’ve even cooked up a template to track tax disclosures automatically. These new disclosures arise from updates to tax accounting rules that the Financial Accounting Standards Board adopted in 2023 , and which went into effect with annual 10-K filings that companies started to make this month. Previously, companies only disclosed a single number for “income tax provisions.” Now they must report individual amounts and percentages for a variety of taxes paid or tax credits claimed, and do so in a nice table format. One of the first companies to report these new details was Netflix ($NFLX), with its annual report filed on Jan. 23. Figure 1, below, is the new table tha...

Financial analysts love to pore over Nvidia’s financial disclosures these days — and really, who wouldn’t? The company has been growing like weeds, and offers a vital window into the possible future of artificial intelligence, one of the most important economic sectors around. Even we wrote about Nvidia ($NVDA) back in February, looking at the stunning growth of its AI segment. So we were delighted when an eagle-eyed researcher — no less than Shiva Rajgopal , head of the accounting department at Columbia Business School — brough an obscure detail to our attention. In its most recent fiscal year, Nvidia’s pretax U.S. earnings exceeded U.S. revenue . Figure 1, below, shows the proof.  Domestic pretax earnings were $29.49 billion. Domestic revenue was $26.96 billion. That’s less.  We had never seen something like this before — but in our defense, it’s such a weird concept that we’d never gone looking for it before either. Our first order of business was to use the world-famous C...