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7. PROVISION FOR (BENEFIT FROM) INCOME TAXES
2006 2005 2004
Current tax expense (benefit):
U.S. federal $ 505 $ 699 $(300)
U.S. state and local (1) 13 —
International 307 649 392
811 1,361 92
Deferred tax expense (benefit):
U.S. federal (297) 204 67
U.S. state and local (18) (13) —
International (300) (82) (488)
(615) 109 (421)
Provision for (benefit from) income taxes $ 196 $1,470 $(329)
Stockholders’ equity:
Stock compensation
1
(2) (40) (27)
Net revaluation and clearance of cash flow hedges to earnings
2
9(1) 7
Net unrealized (losses) gains on securities
2
3(6) 4
Minimum pension liability
2
248 (20) 675
Pension benefits
Net losses
3
(1,048) ——
Prior service cost
3
(51) ——
Other benefits
Net losses
3
(391) ——
Net prior service benefit
3
447 ——
$ (589) $1,403 $ 330
1Represents Deferred tax benefits for certain stock compensation amounts that are deductible for income tax purposes but do not affect
Net income.
2Represents Deferred tax charges (benefits) recorded as a component of Accumulated other comprehensive loss in Stockholders’ equity.
See Note 21.
3On December 31, 2006, the company adopted prospectively SFAS 158 and as required, the company included in the ending balance of
Accumulated other comprehensive loss, taxes associated with the gains and losses and prior service costs and credits, that pursuant to
SFAS No. 87 and 106 prior to amendment by SFAS 158 had not been recognized as components of net periodic benefit cost.
F-20
E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)