Energizer 2010 Annual Report Download - page 92

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Exhibit 13
ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share and percentage data)
82
(5) Income Taxes
The provisions for income taxes consisted of the following for the years ended September 30:
2010 2009 2008
Currently payable:
United States - Federal 67.0$ 91.7$ 47.7$
State 8.4 8.6 5.0
Foreign 66.3 55.4 64.2
Total current 141.7 155.7 116.9
Deferred:
United States - Federal (7.8) (12.5) 29.0
State (0.3) (0.5) 1.1
Foreign 6.8 4.8 (3.1)
Total deferred (1.3) (8.2) 27.0
Provision for income taxes 140.4$ 147.5$ 143.9$
The source of pre-tax earnings was:
2010 2009 2008
United States 225.5$ 197.3$ 197.9$
Foreign 317.9 248.0 275.3
Pre-tax earnings 543.4$ 445.3$ 473.2$
A reconciliation of income taxes with the amounts computed at the statutory federal rate follows:
2010 2009 2008
Computed tax at federal statutory rate 190.2$ 35.0% 155.9$ 35.0% 165.6$ 35.0%
State income taxes, net of federal tax benefit 5.3 1.0 5.1 1.1 2.6 0.6
Foreign tax less than the federal rate (38.9) (7.2) (28.9) (6.5) (33.1) (7.0)
Tax benefits - special foreign dividend (23.5) (4.3) - - - -
Adjustments to prior years' tax accruals (6.1) (1.1) 1.5 1.0 1.1 0.2
Other taxes including repatriation of foreign earnings 11.0 2.0 10.4 1.7 1.5 0.3
Nontaxable share option (0.2) (0.1) 1.1 0.2 5.7 1.2
Other, net 2.6 0.5 2.4 0.6 0.5 0.1
Total 140.4$ 25.8% 147.5$ 33.1% 143.9$ 30.4%
Adjustments were recorded in each of the three years to revise previously recorded tax accruals
to reflect refinement of tax attribute estimates to amounts in filed returns and settlement of tax
audits and other tax adjustments in a number of jurisdictions. Such adjustments decreased the
income tax provision by $6.1 in fiscal 2010 and increased the income tax provision by $1.5 and
$1.1 in fiscal 2009 and 2008, respectively.