Cricket Wireless 2012 Annual Report Download - page 130
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LEAP WIRELESS INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table provides a rollforward of the impairments and other charges recorded as a component of
accounts payable and accrued liabilities within the consolidated balance sheets:
December 31,
2011 Accruals Payments
December 31,
2012
Post acquisition charges ................. $22,046 $ — $ (7,320) $14,726
Severance ............................ — 14,753 (4,876) 9,877
Restructuring activities .................. — 11,006 (613) 10,393
Total impairments and other charges, to be
settled in cash ......................... $22,046 $25,759 $(12,809) $34,996
Note 11. Income Taxes
The components of the Company’s income tax provision are summarized as follows (in thousands):
December 31,
2012 2011 2010
Current provision:
Federal .............................................. — $ — $ —
State ................................................ 4,059 3,595 3,250
Foreign .............................................. — 466 —
4,059 4,061 3,250
Deferred provision:
Federal .............................................. 50,544 32,229 35,337
State ................................................ 3,301 3,087 3,926
Foreign ..............................................———
53,845 35,316 39,263
$57,904 $39,377 $42,513
A reconciliation of the amounts computed by applying the statutory federal income tax rate to income
before income taxes to the amounts recorded in the consolidated statements of comprehensive income is
summarized as follows (in thousands):
December 31,
2012 2011 2010
Amounts computed at statutory federal rate ................ (45,280) $ (97,405) $(259,890)
Non-deductible expenses ............................... 477 376 505
State income tax expense, net of federal income tax impact .... 5,944 5,708 6,019
Net tax expense (benefit) related to ventures ............... (6,737) (2,856) 18,352
Non-deductible share-based compensation ................. 5,776 6,623 4,505
Non-deductible goodwill impairment ..................... — — 125,164
Other .............................................. — (2,936) —
Change in valuation allowance .......................... 97,724 129,867 147,858
$ 57,904 $ 39,377 $ 42,513
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