"c VAR 0083 09073 CORP PR 2R 946-965 MD= 1E-37 " "c REF 0083 LOC 708 WIDTH 9 DK 12 COL 17-25 " "c EXP DEC= 1 " "c " "c CORPORATE PROFITS AFTER TAXES " "c ----------------------------- " "c " "c NBER SERIES: 09073 " "c AREA COVERED: U.S. " "c UNITS: BILLIONS OF DOLLARS " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: FIRST, 1946 - FOURTH, 1965 " "c MONTHLY COVERAGE: NONE " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: SURVEY OF CURRENT BUSINESS, AUGUST, 1965 ISSUE FOR " "c DATA THROUGH 1962. THEREAFTER, SURVEY OF CURRENT BUSINESS, " "c JULY, 1966 AND FOLLOWING MONTHLY 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 AND PRODUCT " "c ACCOUNTS OF THE UNITED STATES, 1929-1965; A SUPPLEMENT TO " "c THE SURVEY OF CURRENT BUSINESS, AUGUST, 1966. " "c 1945 DATA OF THE FIRST SEGMENT WAS RAISED TO THE LEVEL " "c OF THIS (SECOND) SEGMENT (AUGUST, 1965 REVISION) BY A RATIO " "c OF 1945 ANNUAL TOTALS: SURVEY OF CURRENT BUSINESS, AUGUST, " "c 1965 REVISION / U.S. INCOME AND OUTPUT 1958 = 9033/8060 = " "c 1.12072. " "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 ............................................................... "