Humana 2012 Annual Report Download - page 119
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Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
10. INCOME TAXES
The provision for income taxes consisted of the following for the years ended December 31, 2012, 2011 and
2010:
2012 2011 2010
(in millions)
Current provision:
Federal ........................................... $708 $732 $ 786
States and Puerto Rico ............................... 61 62 63
Total current provision ........................... 769 794 849
Deferred (benefit) provision .............................. (80) 22 (199)
Provision for income taxes ....................... $689 $816 $ 650
The provision for income taxes was different from the amount computed using the federal statutory rate for
the years ended December 31, 2012, 2011 and 2010 due to the following:
2012 2011 2010
(in millions)
Income tax provision at federal statutory rate .................. $669 $782 $612
States, net of federal benefit, and Puerto Rico ................. 27 35 31
Tax exempt investment income ............................ (26) (25) (24)
Nondeductible executive compensation ...................... 14 11 13
Other, net .............................................. 5 13 18
Provision for income taxes ............................ $689 $816 $650
The provision for income taxes for 2012, 2011, and 2010 reflects a $14 million, $11 million and
$13 million, respectively, estimated impact from limitations on the deductibility of annual compensation in
excess of $500,000 per employee as mandated by the Health Insurance Reform Legislation.
As of December 31, 2012, we do not have material uncertain tax positions reflected in our consolidated
balance sheet.
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