LinkedIn 2015 Annual Report Download - page 127
Download and view the complete annual report
Please find page 127 of the 2015 LinkedIn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138
-
139
-
140
-
141
-
142
-
143
 |
 |
are determined based upon the difference between the consolidated financial statement carrying
amounts and the tax basis of assets and liabilities and are measured using the enacted tax rate
expected to apply to taxable income in the years in which the differences are expected to be reversed.
The following table presents domestic and foreign components of income (loss) before income
taxes for the periods presented (in thousands):
Year Ended December 31,
2015 2014 2013
Domestic ......................................... $(140,352) $ 149,453 $145,421
Foreign .......................................... (74,378) (118,248) (96,193)
Total .......................................... $(214,730) $ 31,205 $ 49,228
The following table presents the components of the provision (benefit) for income taxes for the
periods presented (in thousands):
Year Ended December 31,
2015 2014 2013
Current:
Federal ......................................... $ 7,861 $ 99,377 $35,754
State .......................................... 2,761 10,343 5,513
Foreign ......................................... 11,569 11,534 10,358
Total current ........................................ 22,191 121,254 51,625
Deferred:
Federal ......................................... (66,573) (67,415) (25,469)
State .......................................... (4,270) (5,992) (2,579)
Foreign ......................................... (1,317) (1,322) (1,118)
Total deferred ....................................... (72,160) (74,729) (29,166)
Total provision (benefit) ............................... $(49,969) $ 46,525 $ 22,459
The following table presents a reconciliation of the statutory federal rate and the Company’s
effective tax rate for the periods presented:
Year Ended
December 31,
2015 2014 2013
US federal taxes at statutory rate .................................... 35% 35% 35%
State income taxes, net of federal benefit .............................. — 9 4
Foreign rate differential ........................................... (15) 106 36
Permanent differences ............................................ — 5 1
Stock-based compensation ......................................... (1) 5 5
Research and development credits ................................... 10 (57) (56)
Transaction-related expenses ....................................... (6) 44 23
Other ........................................................ — 2 (2)
Total ....................................................... 23% 149% 46%
On December 18, 2015, the President signed into law The Protecting Americans from Tax Hikes
(PATH) Act of 2015 (the ‘‘2015 Act’’). The 2015 act establishes a permanent research tax credit for
qualifying amounts paid or incurred after December 31, 2014. As a result of the enacted permanent
125