Tax expense – Adjusted (SM.Tax_Adj_Exp)

Tax expense – Adjusted (SM.Tax_Adj_Exp) is calculated as the difference between the analyst estimates for earnings before tax and net income. If the analyst estimates are not available for historical periods, it is calculated as adjusted earnings before tax times the tax rate.

It can be represented as –  “Pre-Tax Income – Adjusted (SM.EBT_Adj)Net income-Adjusted (SM.NI_Adj)Minority Interest, Preferred Stock & Discontinued Operations (SM.MinorityInterest_OtherExtraordinaryItems)”.

If SM.NI_Adj is unavailable, then it is calculated as-  “ Pre-Tax Income – Adjusted (SM.EBT_Adj) X (Effective Tax Rate/100)”.