The 2016 Form 10-K of Dow Chemical disclosed a valuation allowance of $1,061 million related to various deferred tax assets. During 2016, the company increased this allowance from $1,000 million reported in 2015.
Quantify the effect that this increase in the allowance had on Dow Chemical's net income in 2016.

Question

The 2016 Form 10-K of Dow Chemical disclosed a valuation allowance of $1,061 million related to various deferred tax assets. During 2016, the company increased this allowance from $1,000 million reported in 2015. 
Quantify the effect that this increase in the allowance had on Dow Chemical's net income in 2016.

Quizplus · Accepted Answer

The Answer of The 2016 Form 10-K of Dow Chemical disclosed a valuation allowance of $1,061 million related to various deferred tax assets. During 2016, the company increased this allowance from $1,000 million reported in 2015. 
Quantify the effect that this increase in the allowance had on Dow Chemical's net income in 2016.

The 2016 Form 10-K of Dow Chemical Disclosed a Valuation