DIRECTV 2011 Annual Report Download - page 104
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Our income tax expense consisted of the following for the years ended Our income tax expense was different than the amount computed using the
December 31: U.S. federal statutory income tax rate for the reasons set forth in the following
table for the years ended December 31:
2011 2010 2009
(Dollars in Millions) 2011 2010 2009
Current tax expense: (Dollars in Millions)
U.S. federal ............................ $ 631 $ 391 $308 Expected expense at U.S. federal statutory income tax
Foreign ............................... 253 227 97 rate ................................. $1,394 $1,230 $642
State and local .......................... 107 20 63 U.S. state and local income tax expense, net of federal
benefit ............................... 75 106 77
Total ............................... 991 638 468 Liberty Transaction charges not recoverable ......... 1 4 127
Deferred tax expense (benefit): Change in unrecognized tax benefits ............. 40 (40) 21
U.S. federal ............................ 284 596 309 Noncontrolling interests in partnership earnings and
Foreign ............................... 59 (118) (1) taxes................................. 2 (44) (30)
State and local .......................... 14 86 51 Foreign taxes, net of federal tax benefits ........... (82) 9 (31)
Total ............................... 357 564 359 Change in valuation allowance ................. (40) (32) 33
Multistate tax planning ...................... — (20) —
Total income tax expense ................. $1,348 $1,202 $827 Tax credits .............................. (47) (7) (3)
Other ................................. 5 (4) (9)
‘‘Income before income taxes’’ in the Consolidated Statements of Operations
included the following components for the years ended December 31: Total income tax expense ................... $1,348 $1,202 $827
2011 2010 2009
(Dollars in Millions)
U.S. income ............................ $3,044 $2,809 $1,446
Foreign income .......................... 940 705 388
Total ............................... $3,984 $3,514 $1,834
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