Yahoo 2008 Annual Report Download - page 95

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Yahoo! Inc.
Notes to Consolidated Financial Statements—(Continued)
conversion had not been requested by the holders of the Notes, the Company would have had to settle the Notes
in cash at maturity.
Note 10 I
NCOME
T
AXES
The components of income before income taxes, earnings in equity interests, and minority interests are as follows
(in thousands):
Years Ended December 31,
2006 2007 2008
United States ................................................. $1,002,673 $666,533 $ 457,263
Foreign(*) ................................................... 95,327 182,891 (361,462)
Income before provision for income taxes, earnings in equity
interests, and minority interests ............................. $1,098,000 $849,424 $ 95,801
(*) Includes a $488 million goodwill impairment charge in 2008.
The provision (benefit) for income taxes is composed of the following (in thousands):
Years Ended December 31,
2006 2007 2008
Current:
United States federal ........................................ $595,967 $ 380,923 $228,209
State ..................................................... 68,348 87,725 16,603
Foreign ................................................... 68,129 81,357 53,229
Total current provision for income taxes ..................... 732,444 550,005 298,041
Deferred:
United States federal ........................................ (221,204) (137,095) 11,882
State ..................................................... (23,403) (37,046) (34,248)
Foreign ................................................... (29,826) (38,601) (12,958)
Total deferred provision (benefit) for income taxes ............ (274,433) (212,742) (35,324)
Provision for income taxes ................................... $458,011 $ 337,263 $262,717
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