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Table of Contents
AOL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Interest Expense
Interest expense amounted to $6.5 million, $11.2 million and $5.2 million for the years ended December 31, 2011, 2010 and 2009, respectively, and is
included in "Other income (loss), net" on the consolidated statements of operations. Interest expense for 2010 includes $6.9 million related to credit facility
fees paid to Time Warner. The weighted-average interest rate on AOL's capital lease obligations was 5.64% and 5.81% at December 31, 2011 and 2010,
respectively. The weighted-average rate on capital lease obligations due within one year was 5.68% at December 31, 2011.
NOTE 6—INCOME TAXES
The components of income (loss) from continuing operations before income taxes were as follows (in millions):
Years Ended December 31,
2011 2010 2009
Domestic $ 132.4 $ (805.8) $ 583.6
Foreign (90.1) (163.4) (123.5)
Total $ 42.3 $ (969.2) $ 460.1
The components of the provision for income tax expense (benefit) provided on income from continuing operations were as follows (in millions):
Years Ended December 31,
2011 2010 2009
U.S. federal:
Current $ 0.4 $ 2.0 $ 172.3
Deferred 20.2 (167.7) (1.5)
Foreign:
Current (0.4) (6.2) 1.1
Deferred (2.1) (3.2) (0.8)
State and local:
Current 5.9 9.6 40.0
Deferred 5.2 (13.0) (2.4)
Total $ 29.2 $ (178.5) $ 208.7
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