Seaboard Corporation Reports Fourth Quarter Results

The 2014 Tax Act extended for 2014 only many expired corporate income tax provisions that impact current and deferred taxes for financial reporting purposes. The total annual effects...

March 13, 2025
1 minute read

The 2014 Tax Act extended for 2014 only many expired corporate income tax provisions that impact current and deferred taxes for financial reporting purposes. The total annual effects of the provisions in the new law on current and deferred taxes assets and liabilities for Seaboard were recorded in the fourth quarter of 2014. The impact was a tax benefit of $11,410,000, or $9.75 and $9.68 per common share for the three and twelve months ended December 31, 2014, respectively, primarily related to certain income tax credits. In addition to this amount was a credit of $15,450,000, or $13.20 and $13.11 per common share for the three and twelve months ended December 31, 2014, respectively, for the 2014 Federal blender’s credits that was recognized as revenues in the fourth quarter of 2014. There was no tax expense on this transaction.

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