Advance Auto Parts 2011 Annual Report Download - page 81

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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
January 1, 2011, January 2, 2010 and January 3, 2009
(in thousands, except per share data)
.
F-27
14. Income Taxes:
Provision for Income Taxes
Provision (benefit) for income taxes for Fiscal 2010, 2009 and 2008 consists of the following:
Current Deferred Total
2010-
Federal 151,639$ 34,553$ 186,192$
State 18,860 5,950 24,810
170,499$ 40,503$ 211,002$
2009-
Federal 87,198$ 58,085$ 145,283$
State 7,462 8,537 15,999
94,660$ 66,622$ 161,282$
2008-
Federal 128,952$ (1,435)$ 127,517$
State 16,404 (1,267) 15,137
145,356$ (2,702)$ 142,654$
The provision (benefit) for income taxes differed from the amount computed by applying the federal statutory
income tax rate due to:
2010 2009 2008
Income before provision (benefit) for income taxes
at statutory U.S. federal income tax rate (35%) 194,970$ 151,079$ 133,242$
State income taxes, net of federal
income tax benefit 16,127 10,400 9,839
Non-deductible expenses 3,200 3,077 2,177
Valuation allowance - (614) 491
Other, net (3,295) (2,660) (3,095)
211,002$ 161,282$ 142,654$