Lumber Liquidators 2011 Annual Report Download - page 61

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Lumber Liquidators Holdings, Inc.
Notes to Consolidated Financial Statements—(Continued)
(amounts in thousands, except share data and per share amounts)
NOTE 8. INCOME TAXES
The components of income before income taxes were as follows:
Year Ended December 31,
2011 2010 2009
United States ..................................................... $45,259 $43,306 $44,105
Foreign .......................................................... (2,234) (564) —
Total Income before Income Taxes .................................... $43,025 $42,742 $44,105
The provision for income taxes consists of the following:
Year Ended December 31,
2011 2010 2009
Current
Federal ...................................................... $12,291 $10,231 $14,681
State ........................................................ 2,076 1,945 3,456
Total Current ..................................................... 14,367 12,176 18,137
Deferred
Federal ...................................................... 2,483 3,926 (776)
State ........................................................ 498 522 (180)
Foreign ...................................................... (579) (148) —
Total Deferred .................................................... 2,402 4,300 (956)
Total Provision for Income Taxes ..................................... $16,769 $16,476 $17,181
The reconciliation of significant differences between income tax expense applying the federal statutory rate of 35% and
the actual income tax expense at the effective rate are as follows:
Year Ended December 31,
2011 2010 2009
Income Tax Expense at Federal Statutory Rate ................... $15,059 35.0% $14,960 35.0% $15,437 35.0%
Increases (Decreases):
State Income Taxes, Net of Federal Income Tax Benefit ....... 1,632 3.8% 1,478 3.5% 2,150 4.9%
Other ................................................ 78 0.2% 38 0.0% (406) (0.9%)
Total .................................................... $16,769 39.0% $16,476 38.5% $17,181 39.0%
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