Cablevision 2014 Annual Report Download - page 137
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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-48
Years Ended December 31,
2014 2013 2012
Federal tax expense at statutory rate.............................................................................. $ 243,740 $ 167,098 $ 132,864
State income taxes, net of federal benefit...................................................................... 42,769 27,177 22,542
Changes in the valuation allowance............................................................................... (382)(101) 1,038
Changes in the state apportionment rates used to measure deferred taxes, net of
federal benefit............................................................................................................. 379 (6,484) 1,188
Tax benefit relating to uncertain tax positions, including accrued interest, net of
deferred tax benefits................................................................................................... (52,914)(124)(2,659)
Impact of New York State tax reform enacted on March 31, 2014............................... (1,502) — —
Impact of non-deductible officers' compensation, net................................................... 1,532 796 470
Other non-deductible expenses...................................................................................... 3,697 3,628 3,363
Increase in the deferred tax asset for certain state tax loss carry forwards pursuant to
LLC conversions of certain subsidiaries.................................................................... — — (3,935)
Research credit............................................................................................................... (2,634)(3,739) —
Tax benefit from exclusion of pretax income of an entity that is not consolidated for
income tax purposes................................................................................................... — — (2,605)
Other, net........................................................................................................................ 1,765 (172) 281
Income tax expense........................................................................................................ $ 236,450 $ 188,079 $ 152,547
For CSC Holdings, the tax effects of temporary differences which give rise to significant portions of deferred tax assets or liabilities
and the corresponding valuation allowance at December 31, 2014 and 2013 are as follows: