The other 60% of the change is largely a result of our revised expectation for an increase in our higher tax international jurisdiction as a percentage of 2012 pretax earnings. With this revised expectation in sales mix, we are now projecting an overall effective income tax rate for the full year 2012, excluding Libya, of between 60% and 65%. Remember, the actual effective income tax rate can vary quarter-to-quarter based on the expected annual level of sales by jurisdiction, as well as any discrete items.On Slide 5, we've included the comparison of the total Upstream Q1 liquid hydrocarbon sales volumes, with the estimated liquid hydrocarbon sales volumes for Q2, as an aid in modeling the company's earnings with both periods excluding Libya. The timing of listings can vary based upon nominations yet to be finalized, which can affect the estimated sales volumes, as well as the percentage contributions.
Marathon Oil Management Discusses Q1 2012 Results - Earnings Call Transcript
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