Symantec 2009 Annual Report Download - page 158

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Note 14. Income Taxes
The components of the provision for income taxes are as follows:
April 3,
2009
March 28,
2008
March 30,
2007
Year Ended
(In thousands)
Current:
Federal ........................................ $160,908 $ 258,432 $136,626
State .......................................... 48,593 48,460 4,133
International .................................... 101,353 123,297 75,310
310,854 430,189 216,069
Deferred:
Federal ........................................ (88,271) (147,604) 11,410
State .......................................... (33,969) (28,387) 7,482
International .................................... 33,016 (5,525) (7,719)
(89,224) (181,516) 11,173
$221,630 $ 248,673 $227,242
Pretax income (loss) from international operations was $(1,465) million, $458 million, and $336 million for
fiscal 2009, 2008, and 2007, respectively.
The difference between our effective income tax and the federal statutory income tax is as follows:
April 3,
2009
March 28,
2008
March 30,
2007
Year Ended
(In thousands)
Expected Federal statutory tax ....................... $(2,258,962) $249,383 $221,064
State taxes, net of federal benefit ..................... (3,403) 10,409 7,690
Goodwill impairment — non deductible ................ 2,509,967 — —
Foreign earnings taxed at less than the federal rate ........ (64,190) (676) (14,304)
Non-deductible stock-based compensation ............... 2,730 6,185 12,570
Domestic production activities deduction ............... (12,118) (14,168) (5,040)
Contingent penalty accrual .......................... — — 6,100
IRS audit settlement ............................... — — (7,584)
Federal research and development credit ................ (12,086) (7,529) (6,156)
Valuation allowance increase ........................ 61,023 — —
Benefit of losses from joint venture ................... (8,899) — —
Other, net....................................... 7,568 5,069 12,902
$ 221,630 $248,673 $227,242
98
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)