DIRECTV 2012 Annual Report Download - page 101
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
‘‘Income tax expense’’ in the Consolidated Statements of Operations consisted Our income tax expense was different than the amount computed using the
of the following for the years ended December 31: U.S. federal statutory income tax rate for the reasons set forth in the following
table for the years ended December 31:
2012 2011 2010
(Dollars in Millions) 2012 2011 2010
Current tax expense: (Dollars in Millions)
U.S. federal ........................... $ 980 $ 631 $ 391 Expected expense at U.S. federal statutory income tax
Foreign ............................. 309 253 227 rate ................................ $1,555 $1,394 $1,230
State and local ......................... 113 107 20 U.S. state and local income tax expense, net of federal
benefit .............................. 87 75 106
Total ............................. 1,402 991 638 Liberty Transaction charges not recoverable ........114
Deferred tax expense (benefit): Change in unrecognized tax benefits ............ (154) 40 (40)
U.S. federal ........................... (25) 284 596 Noncontrolling interests in partnership earnings and
Foreign ............................. 63 59 (118) taxes ............................... — 2 (44)
State and local ......................... 25 14 86 Foreign taxes, net of federal tax benefits .......... (3) (82) 9
Total ............................. 63 357 564 Change in valuation allowance ................ 3 (40) (32)
Multistate tax planning ..................... — — (20)
Total income tax expense ................ $1,465 $1,348 $1,202 Tax credits ............................. (30) (47) (7)
Other ................................ 6 5 (4)
‘‘Income before income taxes’’ in the Consolidated Statements of Operations
included the following components for the years ended December 31: Total income tax expense .................. $1,465 $1,348 $1,202
2012 2011 2010
(Dollars in Millions)
U.S. income ............................ $3,442 $3,044 $2,809
Foreign income .......................... 1,000 940 705
Total ............................... $4,442 $3,984 $3,514
81