IHOP 2011 Annual Report Download - page 110

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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
92
20. Income Taxes
The provision (benefit) for income taxes for the years ended December 31, 2011, 2010 and 2009 was as follows:
Provision (benefit) for income taxes:
Current
Federal
State and foreign
Deferred
Federal
State
Provision (benefit) for income taxes
Year Ended December 31,
2011
(In millions)
$ 13.2
2.8
16.0
11.4
2.4
13.8
$ 29.8
2010
$ 6.2
(0.6)
5.6
(12.8)
(2.1)
(14.9)
$ (9.3)
2009
$ 28.8
4.2
33.0
(21.4)
(6.4)
(27.8)
$ 5.2
The provision (benefit) for income taxes differs from the expected federal income tax rates as follows:
Statutory federal income tax rate
State and other taxes, net of federal tax benefit
Change in unrecognized tax benefits
Change in valuation allowance
State adjustments including audits and settlements
Compensation related tax credits, net of deduction offsets
Changes in tax rates and state tax laws
Kansas High Performance Incentive Program credits
Goodwill intangibles adjustment
Non-deductible preferred stock issuance costs
Other
Effective tax rate
2011
35.0%
3.7
(4.0)
1.7
0.2
(4.9)
(3.9)
0.5
—
—
0.1
28.4%
2010
(35.0)%
(0.4)
(28.1)
(1.5)
(0.6)
(46.0)
—
—
27.0
8.5
(0.8)
(76.9)%
2009
35.0%
5.8
(9.7)
7.5
4.5
(14.9)
(6.5)
(7.3)
—
—
(0.3)
14.1%