Table 27-2
Electrical equipment, appliance and component manufacturing — Reconciliation of net profit to taxable income and taxes payable

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Electrical equipment, appliance and component manufacturing — Reconciliation of net profit to taxable income and taxes payable
Table summary
This table displays the results of the reconciliation of net profit to taxable income and taxes payable. The row headers provide information on the different accounts involved in the estimation of taxable income and taxes payable. The column headers provide a yearly breakdown for the five years covered in this tabulation. The values are reported in millions of dollars.
  2009 2010 2011 2012 2013
  millions of dollars
Net profit 295 588 523 606 875
Plus: consolidation and conceptual adjustments 0 46 119 111 -156
Plus: current taxes, including mining 383 378 258 179 183
Plus: deferred income taxes -108 -74 49 19 14
Less: profit of tax exempt corporations -1 0 1 1 0
Deductible dividends 69 226 160 113 104
Adjusted profit before taxes 503 712 789 802 813
Exemptions and deductions:  
Book capital gains and losses 17 10 9 3 -17
Less: taxable capital gains 5 16 38 27 3
Net difference, capital gains and losses 13 -7 -29 -24 -20
Resource allowance .. .. .. .. ..
Less: royalties 0 0 0 0 0
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions 1,340 1,336 -360 -35 -37
Total, exemptions and deductions 1,353 1,329 -389 -59 -57
Timing differences:  
Depreciation 176 178 221 214 262
Less: capital cost allowance 201 180 184 228 223
Net difference, depreciation -25 -2 37 -14 39
Natural resources expenses, (books) 1 1 0 1 1
Less: natural resource expenses, (tax) .. .. .. .. ..
Net difference, natural resources expenses 0 1 0 1 0
Charitable donations net difference, (books minus tax) 0 0 0 0 0
Other timing differences 1,786 1,492 184 103 7
Total, timing differences 1,761 1,491 221 89 47
Net taxable income 912 873 1,399 950 917
Less: prior year losses applied 55 52 102 60 64
Taxable income (tax base) 857 821 1,297 889 853
Taxes:  
Tax otherwise payable 325 312 492 338 324
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 86 82 130 89 85
Small business deduction 13 14 15 16 17
Manufacturing and processing profits deduction 31 39 50 56 46
Investment tax credit 16 26 27 22 15
Other credits 40 34 83 46 52
Net part 1 tax payable 140 117 188 109 110
Other direct federal taxes 0 0 0 2 0
Federal tax payable 140 118 188 111 110
Provincial tax payable 102 91 141 92 88
Total taxes 243 209 330 203 198
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