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Income Taxes
9 Months Ended
Sep. 28, 2019
Income Taxes  
Income Taxes

Note 10 – Income Taxes

Seaboard computes its year-to-date provision for income taxes by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusts the provision for discrete tax items recorded in the period. Seaboard’s projected annual income tax rate for the third quarter of 2019 included $3 million of anticipated tax expense associated with the global intangible low-taxed income (“GILTI”) provision and no anticipated tax expense associated with the base-erosion and anti-abuse tax (“BEAT”) provision.

In the normal course of business, Seaboard’s tax filings are subject to audit by federal, state and foreign tax authorities. The Internal Revenue Service began an examination of Seaboard’s 2016 U.S. income tax return during the third quarter of 2019.