Google 2015 Annual Report Download - page 95

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Table of Contents Alphabet Inc. and Google Inc.
91
purchases or privately negotiated transactions, including through the use of 10b5-1 plans. The repurchase program
does not have an expiration date. As of December 31, 2015, we repurchased and subsequently retired approximately
2,391 thousand shares of Alphabet Class C capital stock for an aggregate amount of approximately $1,780 million.
Alphabet's share repurchases in the year ended December 31, 2015 were funded by Google via a return of capital to
Alphabet.
In January 2016, the board of directors of Alphabet authorized the company to repurchase an additional amount
of approximately 514 thousand shares.
Google Stockholders' Equity
As a result of the Alphabet reorganization, Google has recorded various intercompany activities during the fourth
quarter ended December 31, 2015 as capital transactions, which are reflected in Google's Consolidated Statements
of Stockholders' Equity. Refer to Stock-Based Compensation and Share Repurchases section above, and Note 6, for
descriptions of certain activities. Additionally, subsequent to the reorganization, shares withheld to satisfy employee
withholding tax obligations and cash received from the exercise of stock options were recorded as capital transactions
between Alphabet and Google and are reflected as such in Google's Consolidated Statements of Stockholders' Equity.
Note 14. 401(k) Plans
We have two 401(k) Savings Plans (401(k) Plans) that qualify as deferred salary arrangements under Section 401
(k) of the Internal Revenue Code. Under these 401(k) Plans, matching contributions are based upon the amount of
the employees’ contributions subject to certain limitations. We contributed approximately $202 million, $259 million,
and $309 million for the years ended December 31, 2013, 2014, and 2015.
Note 15. Income Taxes
Income from continuing operations before income taxes included income from domestic operations of $7,651
million, $8,894 million, and $8,271 million for the years ended December 31, 2013, 2014, and 2015, and income from
foreign operations of $8,248 million, $8,365 million, and $11,380 million for the years ended December 31, 2013, 2014,
and 2015.
The provision for income taxes consists of the following (in millions):
Year Ended December 31,
2013 2014 2015
Current:
Federal $ 2,394 $ 2,716 $ 3,235
State 127 157 (397)
Foreign 711 774 723
Total 3,232 3,647 3,561
Deferred:
Federal (421) 29 (198)
State 0 6 (43)
Foreign (72) (43) (17)
Total (493) (8) (258)
Provision for income taxes $ 2,739 $ 3,639 $ 3,303