Blackberry 2002 Annual Report Download - page 27

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7. Income Taxes
The difference between the amount of the provision for (recovery of) income taxes and the amount computed by
multiplying income before taxes by the statutory Canadian rate is reconciled as follows:
MARCH 2, 2002 FEBRUARY 28, 2001 FEBRUARY 29, 2000
Expected Canadian tax rate 41.2% 44.0% 44.6%
Expected tax provision (recovery) $ (15,785) $ 1,549 $ 7,156
Differences in taxes resulting from:
Manufacturing and processing activities 1,801 (1,095) (1,067)
Utilization of tax loss carryforwards ––(838)
Increase in valuation allowance 1,530 3,245 –
Non-deductible portion of unrealized capital losses 1,013 3,245 –
Foreign tax rate differences (3,192) 2,080 –
Enacted tax rate changes 2,960 ––
Other differences 1,810 707 287
$ (9,863) $ 9,731 $ 5,538
The provision for income taxes consists of the following:
MARCH 2, 2002 FEBRUARY 28, 2001 FEBRUARY 29, 2000
Income (loss) before income taxes:
Canadian $ (46,845) $ (2,485) $ 16,036
Foreign 8,503 6,005 –
$ (38,342) $ 3,520 $ 16,036
Provision for (recovery of) income taxes:
MARCH 2, 2002 FEBRUARY 28, 2001 FEBRUARY 29, 2000
Current
Canadian $ 6,756 $ 2,296 $ 1,888
Foreign 302 2,424 –
Future
Canadian (17,283) 5,011 3,650
Foreign 362 ––
$ (9,863) $ 9,731 $ 5,538
The tax effects of significant temporary differences are as follows:
MARCH 2, 2002 FEBRUARY 28, 2001
Assets
Financing costs $ 6,856 $ 11,779
Non-deductible reserves 5,004 3,245
Research and development incentives 17,726 4,286
Tax losses 15,100 –
Other tax carryforwards 2,450 1,507
47,136 20,817
Less: valuation allowance 5,870 3,245
41,266 17,572
Liabilities
Capital assets 12,668 5,561
Net future income tax assets $ 28,598 $ 12,011
FOR THE YEARS ENDED MARCH 2, 2002, FEBRUARY 28, 2001 AND FEBRUARY 29, 2000
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