Blackberry 2005 Annual Report Download - page 59

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57
9. Income Taxes
The difference between the amount of the provision for (recovery of) income taxes and the amount computed
by multiplying income before income taxes by the statutory Canadian tax rate is reconciled as follows:
For the year ended February 26, 2005 February 28, 2004 March 1, 2003
Statutory Canadian tax rate 36.1% 36.5% 38.3%
Expected income tax provision (recovery) $25,703 $17,394 $ (44,817)
Differences in income taxes resulting from:
Manufacturing and processing activities (1,053) (900) 3,951
Increase (decrease) in valuation allowance (142,852) 29,100 61,969
Investment tax credits (13,652) ––
Foreign exchange (2,782) 3,820 (1,408)
Foreign tax rate differences (5,444) (45,088) 7,352
Enacted tax rate changes –(9,743) 4,835
Other differences (2,146) 1,217 (130)
$(142,226) $(4,200) $ 31,752
For the year ended February 26, 2005 February 28, 2004 March 1, 2003
Income (loss) before income taxes:
Canadian $55,136 $29,309 $ (102,954)
Foreign 16,025 18,320 (14,151)
$71,161 $47,629 $ (117,105)
The provision for (recovery of) income taxes consists of the following:
For the year ended February 26, 2005 February 28, 2004 March 1, 2003
Provision for (recovery of) income taxes:
Current
Canadian $655 $484 $ (8)
Foreign 770 (4,684) 3,521
Deferred
Canadian (142,070) – 27,593
Foreign (1,581) – 646
$(142,226) $(4,200) $ 31,752
For the years ended February 26, 2005, February 28, 2004 and March 1, 2003