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INCOME TAXES | 6 Months Ended
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Apr. 30, 2018
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The company’s effective tax rate was 20.8 percent and 14.8 percent for the three and six months ended April 30, 2019, respectively. The income tax expense was $40 million and$46 million for the three and six months ended April 30, 2019, respectively. The income tax expense for the three months ended April 30, 2019 included a net discrete benefit of $5 million. The income tax expense for the six months ended April 30, 2019 included a net discrete benefit of $29 million, primarily related to a change in tax reserves resulting from a change in judgment. The company’s effective tax rate was an expense of 22.5 percent and a benefit of 162.8 percent for the three and six months ended April 30, 2018, respectively. The income tax expense was $19 million and income tax benefit was $98 million for the three and six months ended April 30, 2018, respectively. The income tax expense for the three months ended April 30, 2018 included a net discrete expense of $11 million, and the income tax benefit for the six months ended April 30, 2018 included a net discrete benefit of $104 million, primarily due to $103 million discrete tax benefit resulting from changes in U.S. tax law. Keysight benefits from tax incentives in several jurisdictions, most significantly in Singapore, that have granted us tax incentives that require renewal at various times in the future. The tax incentives provide lower rates of taxation on certain classes of income and require thresholds of investments and employment or specific types of income in those jurisdictions. The Singapore tax incentive is due for renewal in fiscal 2024. The impact of tax incentives decreased the income tax provision for the three and six months ended April 30, 2019 by $11 million and $19 million, respectively, resulting in a benefit to net income per share (diluted) of approximately $0.06 and $0.10 for the three and six months ended April 30, 2019, respectively. The open tax years for the IRS and most states are from November 1, 2014 through the current tax year. For the majority of our foreign entities, the open tax years are from August 1, 2014 through the current tax year. For certain foreign entities, the tax years remain open, at most, back to the year 2008. Given the number of years and numerous matters that remain subject to examination in various tax jurisdictions, we are unable to estimate the range of possible changes to the balance of our unrecognized tax benefits. The company is being audited in Malaysia for the 2008 tax year. Although this tax year pre-dates our spin-off from Agilent, pursuant to the agreement between Agilent and Keysight pertaining to tax matters, as finalized at the time of separation, for certain entities, including Malaysia, any historical tax liability is the responsibility of Keysight. In the fourth quarter of fiscal 2017, Keysight paid income taxes and penalties of $68 million on gains related to intellectual property rights, although we are currently in the process of appealing to the Special Commissioners of Income Tax in Malaysia. The company believes there are numerous defenses to the current assessment; the statute of limitations for the 2008 tax year in Malaysia was closed, and the income in question is exempt from tax in Malaysia. The company is disputing this assessment and pursuing all avenues to resolve this issue favorably for the company.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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