Effective Tax Rate Reconciliation Extraction and Normalization Update

We decided in June to begin the process of tuning our platform to automatically Extract and Normalize the Effective Tax Rate Reconciliation.  We did this because we know many of our clients are interested in testing hypotheses about the factors affecting the Effective Tax Rate and certainly this is an important issue as Congress contemplates significant changes to the tax code.

We have made significant progress – most of the credit goes to Manish Pokhrel who is probably pulling his hair out right now because he probably just discovered another exception to what we originally imagined as a smooth and easy process.

I want to caution you that we are still not at the same level of perfection we are with some of the other artifacts we process but we are really close.  Today at 4:07 ENANTA PHARMACEUTICALS filed their latest 10-K.  Here is what the ETR tabled looked like in their filing:

 

 

ETR_rawSoon after we grabbed the filing and after much angst, hand-wringing and some black-magic our system made the raw data available to our clients for immediate use in their research and analysis in the following form.

ETR_Processed

The amazing thing I think is that in addition to this latest filing – we have every ETR table ENANTA has filed since they began filing 10-Ks in 2013.