Home Depot 2007 Annual Report Download - page 67

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6. INCOME TAXES
The components of Earnings From Continuing Operations before Provision for Income Taxes for fiscal 2007, 2006 and 2005 were as follows
(amounts in millions):
The Provision for Income Taxes consisted of the following (amounts in millions):
The Company's combined federal, state and foreign effective tax rates for fiscal 2007, 2006 and 2005, net of offsets generated by federal, state
and foreign tax benefits, were approximately 36.4%, 38.1% and 37.1%, respectively.
The reconciliation of the Provision for Income Taxes at the federal statutory rate of 35% to the actual tax expense for the applicable fiscal years
was as follows (amounts in millions):
50
Fiscal Year Ended
February 3,
2008
January 28,
2007
January 29,
2006
United States
$
5,905
$
7,915
$
8,427
Foreign
715
587
540
Total
$
6,620
$
8,502
$
8,967
Fiscal Year Ended
February 3,
2008
January 28,
2007
January 29,
2006
Current:
Federal
$
2,055
$
2,557
$
3,316
State
285
361
493
Foreign
310
326
155
2,650
3,244
3,964
Deferred:
Federal
(242
)
(2
)
(553
)
State
17
(1
)
(110
)
Foreign
(15
)
(5
)
25
(240
)
(8
)
(638
)
Total
$
2,410
$
3,236
$
3,326
Fiscal Year Ended
February 3,
2008
January 28,
2007
January 29,
2006
Income taxes at federal statutory rate
$
2,317
$
2,976
$
3,138
State income taxes, net of federal income tax
benefit
196
234
249
Other, net
(103
)
26
(61
)
Total
$
2,410
$
3,236
$
3,326