Question 17 5.55 pts Use the information in the schedule of the components of Facebook's deferred...

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Question 17 5.55 pts Use the information in the schedule of the components of Facebook's deferred tax assets and liabilities to estimate the difference in depreciation expense taken for tax purposes and for financial reporting (i.e. GAAP) purposes during the fiscal year that ended on December 31, 2020. Your answer should be in millions of dollars; and, if depreciation for tax purposes is greater than (less than) depreciation per GAAP, you should enter your answer as a positive (negative) amount. Question 18 5.65 pts Use the information in the schedule of the components of Facebook's deferred tax assets and liabilities to estimate Facebook's cumulative net operating losses as of December 31, 2020. Your answer should be in millions of dollars. The components of income before provision for income taxes are as follows (in millions USD): Year Ended December 31, Domestic Foreign Income before provision for income taxes The provision for income taxes consisted of the following (in millions USD): Year Ended December 31, Current: Federal State Foreign Total current tax expense Deferred: Federal State Foreign Total deferred tax (benefits)/expense Provision for income taxes 2020 24,233 2019 2018 5,317 8,800 8,947 19,495 16,561 33,180 24,812 25,361 2020 2019 2018 3,297 4,321 1,747 523 565 176 1,211 1,481 1,031 5,031 6,367 2,954 -859 -39 316 -122 19 34 -16 -20 -55 -997 -40 295 4,034 6,327 3,249 A reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows (in percentages): Year Ended December 31, U.S. federal statutory income tax rate State income taxes, net of federal benefit Research and development tax credits Share-based compensation Excess tax benefits related to share-based compensation Foreign-derived intangible income deduction Effect of non-U.S. operations Non-deductible FTC settlement accrual Research and development capitalization Other Effective tax rate 2020 2019 2018 21.00% 21.00% 21.00% 0.80% 1.80% 0.70% -1.30% -0.80% -1.00% 0.20% 4.50% 0.30% -1.60% -0.70% -2.60% -1.90% 0.00% 0.00% -2.40% -5.80% -5.90% 0.00% 4.50% 0.00% -3.00% 0.00% 0.00% 0.40% 1.00% 0.30% 12.20% 25.50% 12.80% Our deferred tax assets (liabilities) are as follows (in millions USD): December 31, Deferred tax assets: Net operating loss carryforward Tax credit carryforward Share-based compensation Accrued expenses and other liabilities Lease liabilities Capitalized research and development Other Total deferred tax assets Less: valuation allowance Deferred tax assets, net of valuation allowance Deferred tax liabilities: Depreciation and amortization Right-of-use assets Total deferred tax liabilities Net deferred tax assets 2020 2019 2,437 2,051 1,055 1,333 243 135 1,108 798 2,058 1,999 1,922 0 340 149 9,163 6,465 -1,218 -1,012 7,945 5,453 -3,811 -2,387 -1,876 -1,910 -5,687 -4,297 2,258 1,156 When answering questions 13 through 18, please show your supporting calculations in the worksheet named Facebook Inc Tax. Note that the combined federal, state, and international tax rate was 19.4%, 17.0%, and 15.8% in the fiscal year that ended on December 31, 2020, December 31, 2018, and December 31, 2019, respectively. Question 17 5.55 pts Use the information in the schedule of the components of Facebook's deferred tax assets and liabilities to estimate the difference in depreciation expense taken for tax purposes and for financial reporting (i.e. GAAP) purposes during the fiscal year that ended on December 31, 2020. Your answer should be in millions of dollars; and, if depreciation for tax purposes is greater than (less than) depreciation per GAAP, you should enter your answer as a positive (negative) amount. Question 18 5.65 pts Use the information in the schedule of the components of Facebook's deferred tax assets and liabilities to estimate Facebook's cumulative net operating losses as of December 31, 2020. Your answer should be in millions of dollars. The components of income before provision for income taxes are as follows (in millions USD): Year Ended December 31, Domestic Foreign Income before provision for income taxes The provision for income taxes consisted of the following (in millions USD): Year Ended December 31, Current: Federal State Foreign Total current tax expense Deferred: Federal State Foreign Total deferred tax (benefits)/expense Provision for income taxes 2020 24,233 2019 2018 5,317 8,800 8,947 19,495 16,561 33,180 24,812 25,361 2020 2019 2018 3,297 4,321 1,747 523 565 176 1,211 1,481 1,031 5,031 6,367 2,954 -859 -39 316 -122 19 34 -16 -20 -55 -997 -40 295 4,034 6,327 3,249 A reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows (in percentages): Year Ended December 31, U.S. federal statutory income tax rate State income taxes, net of federal benefit Research and development tax credits Share-based compensation Excess tax benefits related to share-based compensation Foreign-derived intangible income deduction Effect of non-U.S. operations Non-deductible FTC settlement accrual Research and development capitalization Other Effective tax rate 2020 2019 2018 21.00% 21.00% 21.00% 0.80% 1.80% 0.70% -1.30% -0.80% -1.00% 0.20% 4.50% 0.30% -1.60% -0.70% -2.60% -1.90% 0.00% 0.00% -2.40% -5.80% -5.90% 0.00% 4.50% 0.00% -3.00% 0.00% 0.00% 0.40% 1.00% 0.30% 12.20% 25.50% 12.80% Our deferred tax assets (liabilities) are as follows (in millions USD): December 31, Deferred tax assets: Net operating loss carryforward Tax credit carryforward Share-based compensation Accrued expenses and other liabilities Lease liabilities Capitalized research and development Other Total deferred tax assets Less: valuation allowance Deferred tax assets, net of valuation allowance Deferred tax liabilities: Depreciation and amortization Right-of-use assets Total deferred tax liabilities Net deferred tax assets 2020 2019 2,437 2,051 1,055 1,333 243 135 1,108 798 2,058 1,999 1,922 0 340 149 9,163 6,465 -1,218 -1,012 7,945 5,453 -3,811 -2,387 -1,876 -1,910 -5,687 -4,297 2,258 1,156 When answering questions 13 through 18, please show your supporting calculations in the worksheet named Facebook Inc Tax. Note that the combined federal, state, and international tax rate was 19.4%, 17.0%, and 15.8% in the fiscal year that ended on December 31, 2020, December 31, 2018, and December 31, 2019, respectively.

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