"c VAR 0081 09073 CORPROF 2R 939-946 MD= 1E-37 " "c REF 0081 LOC 690 WIDTH 9 DK 11 COL 62-70 " "c EXP DEC= 1 " "c " "c CORPORATE PROFITS AFTER TAXES, DEPARTMENT OF COMMERCE, " "c OFFICE OF BUSINESS ECONOMICS " "c ------------------------------------------------------ " "c " "c NBER SERIES: 09073 " "c AREA COVERED: U.S. " "c UNITS: BILLIONS OF DOLLARS " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: FIRST, 1939 - FOURTH, 1946 " "c MONTHLY COVERAGE: NONE " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: NATIONAL INCOME, 1954 EDITION FOR 1939-1945 DATA; " "c THEREAFTER DATA FURNISHED BY"U.S. INCOME AND OUTPUT," A " "c SUPPLEMENT TO THE SURVEY OF CURRENT BUSINESS, THE NOVEMBER, " "c 1958, JULY, 1961 AND LATER ISSUES. " "c " "c NOTES: SERIES 09073 IS PRESENTED HERE AS TWO " "c VARIABLES--(1)--ORIGINAL DATA, 1939-1946 (2)--ORIGINAL DATA, " "c 1946-1965. " "c AN ALTERNATE SOURCE OF 1939-1945 DATA IS THE SURVEY OF " "c CURRENT BUSINESS SUPPLEMENT: NATIONAL INCOME, 1954 EDITION. " "c UNADJUSTED QUARTERLY FIGURES FOR 1939-1958 DATA WERE " "c MULTIPLIED BY FOUR TO DERIVE TOTALS AT ANNUAL RATES. " "c "THIS SERIES MEASURES THE VOLUME OF EARNINGS NET OF " "c CORPORATE TAX LIABILITY (FEDERAL AND STATE CORPORATE INCOME " "c AND EXCESS PROFITS TAXES) ORIGINATING IN U.S. CORPORATIONS " "c ORGANIZED FOR PROFIT. PROFITS INCLUDE DEPLETION AND EXCLUDE " "c DOMESTIC DIVIDENDS RECEIVED AND CAPITAL GAINS AND LOSSES, " "c CONFORMING THEREBY TO THE"NATIONAL INCOME" CONCEPT. " "c THE ANNUAL ESTIMATES FOR PERIODS MORE THAN TWO YEARS " "c PRIOR TO THE CURRENT YEAR ARE INTERNAL REVENUE SERVICE DATA " "c ADJUSTED TO NATIONAL PROFITS DISCLOSED BY THE IRS AUDIT OF " "c INCOME TAX RETURNS. PROFITS OF MUTUAL INSURANCE COMPANIES " "c ARE REMOVED AND ADJUSTMENTS ARE MADE FOR INTERNATIONAL FLOWS " "c WHICH AFFECT PROFITS. CURRENT ANNUAL AND QUARTERLY FIGURES " "c ARE OBTAINED BY EXTRAPOLATING THE LATEST BENCHMARK ESTIMATES " "c BASED UPON THE IRS TABULATIONS. THE EXTRAPOLATORS USED " "c INCLUDE THE QUARTERLY FINANCIAL REPORT FOR MANUFACTURING " "c CORPORATIONS OF THE FEDERAL TRADE COMMISSION AND SECURITIES " "c AND EXCHANGE COMMISSION, REPORTS TO OTHR FEDERAL REGULATORY " "c AGENCIES, AND SURVEYS BY NONGOVERNMENTAL ORGANIZATIONS. " "c ANNUAL AND QUARTERLY ESTIMATES ARE SUBSEQUENTLY REVISED TO " "c CONFORM TO IRS TABULATIONS. FOR A COMPLETE STATEMENT OF THE " "c METHODS AND SOURCES OF DATA USED IN PREPARING PROFIT " "c ESTIMATES, SEE NATIONAL INCOME, SUPPLEMENT TO THE SURVEY OF " "c CURRENT BUSINESS, 1954 EDITION, PP. 92-97, AND U.S. INCOME " "c AND OUTPUT, 1958, PP. 93-94. " "c QUARTERLY ESTIMATES OF CORPORATE TAX LIABILITY, " "c DIVIDENDS, AND RETAINED EARNINGS ARE ALSO COMPLIED BY THE " "c OFFICE OF BUSINESS ECONOMICS, AND ESTIMATES OF PROFITS " "c BEFORE TAXES ARE AVAILABLE EXCLUDING INVENTORY PROFIT OR " "c LOSS (INVENTORY VALUATION ADJUSTMENT). THE FEDERAL TRADE " "c COMMISSION AND THE SECURITES EXCHANGE COMMISSION PUBLISH " "c QUARTERLY PROFIT STATISTICS FOR ALL MANUFACTURING " "c CORPORATIONS, BY INDUSTRY AND SIZE-OF-FIRM GROUPS. THE " "c FEDERAL RESERVE BOARD ISSUES QUARTERLY PROFIT STATISTICS FOR " "c 200 LARGE MANUFACTURING CORPORATIONS (FEDERAL RESERVE " "c BULLETIN). QUARTERLY FIGURES FOR APPROXIMATELY 800 " "c NONFINANCIAL CORPORATIONS ARE COMPILED BY THE FIRST NATIONAL " "c CITY BANK AND PUBLISHED IN THE BANK'S MONTHLY LETTER, " "c "BUSINESS AND ECONOMIC CONDITIONS." " "c FOR DISCUSSION OF THE ROLE OF PROFITS AND RELATED " "c ECONOMIC VARIABLES IN BUSINESS CYLES, SEE MOORE, BUSINESS " "c CYCLE INDICATORS, VOLUME I, CHAPTERS 2, 11, AND 12."--TAKEN " "c FROM MOORE, BUSINESS CYCLE INDICATORS, VOLUME II. " "c " "c CHECKED MANUALLY; NO CORRECTIONS NECESSARY. " "c " "c ............................................................... "