Symantec 2014 Annual Report Download - page 170

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Note 12. Income Taxes
The components of the provision for income taxes are as follows:
Year Ended
March 28,
2014
March 29,
2013
March 30,
2012
(Dollars in millions)
Current:
Federal $ 111 $ 104 $ 123
State 23 23 30
International 78 87 121
212 214 274
Deferred:
Federal 36 27 40
State 17 5 (8)
International (7) 5 2
46 37 34
Total provision of income taxes $ 258 $ 251 $ 308
Pretax income from international operations was $612 million, $652 million, and $891 million for fiscal
2014, 2013, and 2012, respectively.
The difference between our effective income tax and the federal statutory income tax is as follows:
Year Ended
March 28,
2014
March 29,
2013
March 30,
2012
(Dollars in millions)
Expected Federal statutory tax $ 405 $ 351 $ 525
State taxes, net of federal benefit 26 25 12
Foreign earnings taxed at less than the federal rate (131) (96) (160)
Domestic production activities deduction (14) (12) (20)
Federal research and development credit (6) (10) (12)
Valuation allowance (decrease) increase (3) - 5
Benefit of losses from joint venture - - (1)
Tax positions (including valuation allowance release) (26) (9) (52)
Other, net 7 2 11
$ 258 $ 251 $ 308
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