Home Depot 2015 Annual Report Download - page 51

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Table of Contents
49
8. INCOME TAXES
The components of Earnings before Provision for Income Taxes for fiscal 2015, 2014 and 2013 were as follows (amounts in
millions):
Fiscal Year Ended
January 31,
2016 February 1,
2015 February 2,
2014
United States $ 10,207 $ 9,217 $ 7,770
Foreign 814 759 697
Total $ 11,021 $ 9,976 $ 8,467
The Provision for Income Taxes consisted of the following (amounts in millions):
Fiscal Year Ended
January 31,
2016 February 1,
2015 February 2,
2014
Current:
Federal $ 3,228 $ 2,884 $ 2,503
State 466 373 346
Foreign 296 258 265
3,990 3,515 3,114
Deferred:
Federal 21 127 (12)
State 10 (11) 4
Foreign (9)—(24)
22 116 (32)
Total $ 4,012 $ 3,631 $ 3,082
The Company’s combined federal, state and foreign effective tax rates for fiscal 2015, 2014 and 2013 were approximately
36.4%, 36.4% and 36.4%, 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):
Fiscal Year Ended
January 31,
2016 February 1,
2015 February 2,
2014
Income taxes at federal statutory rate $ 3,857 $ 3,492 $ 2,964
State income taxes, net of federal income tax benefit 309 235 227
Other, net (154)(96)(109)
Total $ 4,012 $ 3,631 $ 3,082