Exxon Mobil posts record $45.2 billion profit

[Fern]

Originally posted by: sactoking
-snip-
Exxon's average tax rate for 2008 was 7.7%.

7.7 <<<< 50

Nope, it was probably more like 42%.

Google their 2007 financials (I don't think '08 are finalized & published yet, it's too early). There have been no income taxes changes between '07 & '08.

Fern

 

[Corn]

Originally posted by: sactoking

Originally posted by: Corn

Originally posted by: sactoking

Originally posted by: Genx87
Well you dont measure income tax by gross revenue. You measure it by income. The govt doesnt tax you on how much revenue you bring in. I am going to suspect when 2008 numbers do roll out the % will be very close. Meaning with 45 billion in net income they probably paid about 32-33 billion in income taxes.

And another flaw on my part; I used 'average rate' instead of 'effective rate'. The effective rate of tax on Exxon in 2008 was 7.7%. The average rate in 2008 was 44.7% ($36.5b on $81.8b). The marginal rate was 35%.

The flaw on your part is you don't appear to have a clue about what you are talking about. The effective tax rate is defined thusly: Actual income tax paid divided by net taxable income before taxes, expressed as a percentage. More can be found here.

Income taxes are not based on gross receipts, but on net income. You trying to throw out a fictitious tax rate of 7.7% is nothing more than a typical liberal exercise in intellectual dishonesty.

The flaw on your part is you don't appear to have a clue about what you are talking about.

Really, so your ficititious tax rate of 7.7% is what exactly if not dishonest? Or are you going to claim you're not a lefty?

 

[heyheybooboo]

Originally posted by: Ozoned

Originally posted by: heyheybooboo

Originally posted by: Ozoned

Originally posted by: Red Dawn

Originally posted by: Budmantom
Good for them.


I guess they won't need a bailout.

No they already got it from us last summer.

This is after tax income. They contributed approx. 41 billion in the form of corporate income and other taxes towards the bailout.

That is amazingly disingenuous.

Spout talking points much?

Originally posted by: masteryoda34

Originally posted by: Ozoned
This is after tax income. They contributed approx. 41 billion in the form of corporate income and other taxes towards the bailout.

Thank You for bringing this up. No one ever mentions the record taxes that Exxon pays on their record profits. Plus the fact that their taxes were higher than their profits is ridiculous.

Ditto.


Feel free in all your wisdom to reveal their stock repurchases and capital investment.

If my Exxon stock gains value, and I sell it, the government gets a cut of that in the form of taxes also.

I find it amazing how much money is redistributed by the government off the back of gasoline, and other fuel sales. Money that comes from everyone that uses fuel.

Want to know where some of it is going? (Concerning taxes on Exxons earnings) Look at the current proposed stimulus bill.


But I guess telling the truth is disingenuous. :roll:

Let's make Exxon pay more taxes, or simply stated, let's make everyone that uses fuel pay more taxes.

In the last 12 months Exxon has repurchased $34 billion of its stock and distributed $8 billion in dividends. Your original post noted **The 5 Year Average Dividend Yield is below 2%. **

Capital expenditures were $18 billion (which to their credit is a slight bump but the downside of that equation is that the capital investment is not in the US)

Do you folks not see this? Exxon is sucking capital out of the States to expand its infrastructure in Asia PLUS at their rate of repurchase (which has greatly accelerated over the last 5 years) this business article suggests Exxon will be private "... sometime around 2015 to 2018 ..." (To be fair I have seen this projection at 2020 and beyond but do the math). They are now repurchasing 10% of their outstanding common stock each year.

Congratulations, Suckers.

You are creating the ultimate private Oil Barons to rival The House of Saud and building their international infrastructure. They are doing it with your money. And what's even better they are doing it by producing less than 40% of what the Royal family is producing.

 

[DukeN]

I'm too lazy to look this up but what was their cashflow like? Curious as to what that number would be like after taking out the non-tangibles like depreciation out of the profit number.

 

[heyheybooboo]

Originally posted by: DukeN
I'm too lazy to look this up but what was their cashflow like? Curious as to what that number would be like after taking out the non-tangibles like depreciation out of the profit number.

I'm lazy, too, but IIRC free cash flow is 35% or so above industry average ...

 

[AlienCraft]

Originally posted by: heyheybooboo



In the last 12 months Exxon has repurchased $34 billion of its stock and distributed $8 billion in dividends. Your original post noted **The 5 Year Average Dividend Yield is below 2%. **

Capital expenditures were $18 billion (which to their credit is a slight bump but the downside of that equation is that the capital investment is not in the US)

Do you folks not see this? Exxon is sucking capital out of the States to expand its infrastructure in Asia PLUS at their rate of repurchase (which has greatly accelerated over the last 5 years) this business article suggests Exxon will be private "... sometime around 2015 to 2018 ..." (To be fair I have seen this projection at 2020 and beyond but do the math). They are now repurchasing 10% of their outstanding common stock each year.

Congratulations, Suckers.

You are creating the ultimate private Oil Barons to rival The House of Saud and building their international infrastructure. They are doing it with your money. And what's even better they are doing it by producing less than 40% of what the Royal family is producing.

SSSssshshhhhhhh ! Don't wanna wake 'em. They get cranky when they get woke up!