Computer Associates 2016 Annual Report Download - page 98

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The table below summarizes the RSAs and RSUs granted under the 1-year PSUs for the Company’s fiscal year 2015, 2014 and
2013 sales retention equity programs. The RSAs and RSUs were granted in the first quarter of fiscal years 2016, 2015 and 2014,
respectively. The RSAs and RSUs vest on the third anniversary of the grant date.
RSAs RSUs
Incentive Plans for Fiscal Years
Performance
Period
Shares
(in millions)
Weighted
Average
Grant Date
Fair Value
Shares
(in millions)
Weighted
Average
Grant Date
Fair Value
2015 1 year 0.2 $ 30.45 0.1 $ 27.50
2014 1 year 0.2 $ 28.69 0.1 $ 25.73
2013 1 year 0.2 $ 27.11 0.1 $ 24.13
Employee Stock Purchase Plan: The Company maintains the 2012 Employee Stock Purchase Plan (ESPP) for all eligible
employees. The ESPP offer period is semi-annual and allows participants to purchase the Company’s common stock at 95% of
the closing price of the stock on the last day of each offer period, on June 30 and December 31, respectively. The ESPP is non-
compensatory. During each of the fiscal years ended March 31, 2016, 2015 and 2014, the Company issued approximately
0.2 million shares under the ESPP at an average price of $27.47, $28.06 and $29.62 per share, respectively. As of March 31, 2016,
approximately 29.2 million shares were available for future issuances under the ESPP.
Note 15 — Income Taxes
The amounts of income from continuing operations before income taxes attributable to domestic and foreign operations were as
follows:
Year Ended March 31,
(in millions) 2016 2015 2014
Domestic $ 729 $ 737 $ 683
Foreign 355 378 333
Income from continuing operations before income taxes $ 1,084 $ 1,115 $ 1,016
Income tax expense (benefit) from continuing operations consisted of the following:
Year Ended March 31,
(in millions) 2016 2015 2014
Current:
Federal $ 285 $ 284 $ 184
State 50 37 33
Foreign 95 56 (19)
Total current $ 430 $ 377 $ 198
Deferred:
Federal $ (86) $ (74) $ (82)
State (20) (12) (12)
Foreign (9) 14 25
Total deferred $ (115) $ (72) $ (69)
Total:
Federal $ 199 $ 210 $ 102
State 30 25 21
Foreign 86 70 6
Total income tax expense from continuing operations $ 315 $ 305 $ 129
The income tax expense from continuing operations was reconciled to the tax expense computed at the U.S. federal statutory
tax rate as follows:
Year Ended March 31,
(in millions) 2016 2015 2014
Tax expense at U.S. federal statutory tax rate $ 379 $ 390 $ 356
Effect of international operations (77) (91) (147)
U.S. federal and state tax contingencies 8 1 (123)
Domestic manufacturing deduction (27) (23) (24)
State taxes, net of U.S. federal tax benefit 16 15 19
Valuation allowance 3823
Other, net 13 5 25
Income tax expense from continuing operations $ 315 $ 305 $ 129
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