Hasbro 2014 Annual Report Download - page 89

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HASBRO, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
(Thousands of Dollars and Shares Except Per Share Data)
Certain income tax (benefits) expenses, not reflected in income taxes in the consolidated statements of
operations totaled $(38,223) in 2014, $6,733 in 2013 and $(31,682) in 2012 which relate primarily to stock
options and pensions. In 2014, 2013 and 2012, the deferred tax portion of the total (benefit) expense was
$(27,236), $29,033 and $(17,210), respectively.
A reconciliation of the statutory United States federal income tax rate to Hasbro’s effective income tax rate
is as follows:
2014 2013 2012
Statutory income tax rate .......................................... 35.0% 35.0% 35.0%
State and local income taxes, net .................................... 0.3 0.3 0.3
Tax on international earnings ....................................... (8.1) (11.4) (9.4)
Exam settlements and statute expirations .............................. (5.2) (7.4) (7.0)
Other, net ....................................................... 1.5 2.8 7.0
23.5% 19.3% 25.9%
The components of earnings before income taxes, determined by tax jurisdiction, are as follows:
2014 2013 2012
United States .......................................... $190,769 54,424 113,893
International ........................................... 349,219 297,398 339,509
Total earnings before income taxes ......................... $539,988 351,822 453,402
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