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Falcon Networks Is a Leading Semiconductor Company with Operations in 17

Question 2

Multiple Choice

Falcon Networks is a leading semiconductor company with operations in 17 different countries. Information about the company's taxes appears below:
Falcon Not works\text {Falcon Not works}
Components of Income Tax Expense\text {Components of Income Tax Expense}
(in millions) \text {(in millions) }


 20122011 Current - Federal $55.65$47.52- Foreign 83.8578.95 - State and Local14.6912.5Total Current $154.19$138.97Deferred - Federal $30.28$42.90 - Foreign23.8914.58Total Deferred $54.17$57.48 Total Income Tax Expense $208.36$196.45 Note: Falcon Networks has no curent liability at year-end withrespect to total current taxes.  Components of Income before Taxes 20122011 United States $256.35$253.68Foreign 236.85198.85Total $493.20$452.53\begin{array}{llcc} \text { } &2012&2011 \\ \text { Current - Federal } &\$55.65&\$47.52\\ \text {\quad\quad - Foreign } &83.85&78.95\\ \text { \quad\quad - State and Local} &\underline{14.69}&\underline{12.5}\\ \text {Total Current } &\$154.19&\$138.97\\\\ \text {Deferred - Federal } &\$30.28&\$42.90\\ \text { \quad\quad - Foreign} &\underline{23.89}&\underline{14.58} \\ \text {Total Deferred } &\$54.17&\$57.48\\\\ \text { Total Income Tax Expense } &\underline{\$208.36}&\underline{\$196.45}\\\\ \text { Note: Falcon Networks has no curent liability at year-end withrespect to total current taxes. } &\\\\ \text { Components of Income before Taxes } &2012&2011\\ \text { United States } &\$256.35&\$253.68\\ \text {Foreign } &\underline{236.85}&\underline{198.85}\\ \text {Total } &\underline{\$493.20}&\underline{\$452.53}\\\end{array}

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Based on the information provided by Falcon Networks how much cash did income taxes use during 2012?


A) $154.19 million
B) $54.17 million
C) $208.36 million
D) $284.84 million

Correct Answer:

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