Yahoo 2012 Annual Report Download - page 119
Download and view the complete annual report
Please find page 119 of the 2012 Yahoo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
 |
 |
As of December 31, restructuring accruals by segment consisted of the following (in thousands):
2011 2012
Americas .................................................................. $41,199 $42,689
EMEA .................................................................... 6,948 18,144
Asia Pacific ................................................................ 980 12,034
Total restructuring accruals ................................................ $49,127 $72,867
Note 15 I
NCOME
T
AXES
The components of income before income taxes and earnings in equity interests are as follows (in thousands):
Years Ended December 31,
2010 2011 2012
United States ................................................ $ 872,042 $533,262 $5,056,643
Foreign ..................................................... 198,351 294,254 157,564
Income before income taxes and earnings in equity interests ....... $1,070,393 $827,516 $5,214,207
The provision for income taxes is composed of the following (in thousands):
Years Ended December 31,
2010 2011 2012
Current:
United States federal ........................................ $ 26,342 $141,922 $2,278,759
State ..................................................... 39,258 (11,037) 361,788
Foreign .................................................. 43,341 40,490 68,816
Total current provision for income taxes .................... 108,941 171,375 2,709,363
Deferred:
United States federal ........................................ 67,621 77,012 (741,628)
State ..................................................... 37,438 (4,437) (29,470)
Foreign .................................................. 7,523 (2,183) 1,778
Total deferred provision (benefit) for income taxes ............ 112,582 70,392 (769,320)
Provision for income taxes ................................... $221,523 $241,767 $1,940,043
The provision for income taxes differs from the amount computed by applying the federal statutory income tax
rate to income before income taxes and earnings in equity interests as follows (in thousands):
Years Ended December 31,
2010 2011 2012
Income tax at the U.S. federal statutory rate of 35 percent .............. $374,638 $289,630 $1,824,973
State income taxes, net of federal benefit ........................... 54,268 4,627 237,637
Change in valuation allowance ................................... (1,315) (5,975) (82)
Stock-based compensation expense ................................ 4,404 18,213 17,703
Research tax credits ............................................ (10,345) (10,499) —
Effect of non-U.S. operations .................................... (17,344) (42,806) (135,753)
Resolution with tax authorities ................................... (159,168) (14,685) (4,711)
Tax gain in excess of book gain from sales of Zimbra, Inc. and HotJobs
due to basis differences ....................................... 23,184 — —
Tax restructuring .............................................. (43,361) — —
Other ....................................................... (3,438) 3,262 276
Provision for income taxes .................................. $221,523 $241,767 $1,940,043
105