Answer:
22.38%
Explanation:
Given that,
Operating profit before interest and tax = $519,233
Net income = $318,022 thousand
Provision for income taxes = $91,720 thousand
Net non-operating expense before tax = $109,491 thousand
Mattel’s statutory tax rate for 2016 = 37%
Income before income tax:
= Net Income + Provision for income taxes
= $318,022 Thousand + $91,720 Thousand
= $409,742 Thousand
Effective tax rate:
= (Provision for Income taxes ÷ Income before tax) × 100
= ($91,720 Thousand ÷ $409,742 Thousand) × 100
= 0.2238 × 100
= 22.38%
