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Table of Contents NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
Year Ended
January 29,
2012 January 30,
2011 January 31,
2010
(In thousands)
Current income taxes:
Federal $ 7,099 $ 141 $ 177
State 789 (511) 438
Foreign 7,630 6,827 6,966
Total current 15,518 6,457 7,581
Deferred taxes:
Federal 25,111 (3,063) (22,013)
State — — —
Foreign (6,055) 417 866
Total deferred 19,056 (2,646) (21,147)
Charge in lieu of taxes attributable to employer stock option plans 47,732 14,212 (741)
Income tax expense (benefit) $ 82,306 $ 18,023 $ (14,307)
Income (loss) before income taxes consists of the following:
Year Ended
January 29,
2012 January 30,
2011 January 31,
2010
(In thousands)
Domestic $ 120,768 $ 82,531 $ (105,793)
Foreign 542,628 188,638 23,499
$ 663,396 $ 271,169 $ (82,294)
The income tax expense (benefit) differs from the amount computed by applying the federal statutory income tax rate of 35% to income (loss) before
income taxes as follows:
Year Ended
January 29,
2012 January 30,
2011 January 31,
2010
(In thousands)
Tax expense computed at federal statutory rate $ 232,189 $ 94,909 $ (28,803)
State income taxes, net of federal tax effect 2,302 (391) (196)
Foreign tax rate differential (142,071) (49,585) 26,902
Research tax credit (24,270) (28,729) (22,270)
Stock-based compensation 10,983 1,668 10,114
Other 3,173 151 (54)
Income tax expense (benefit) $ 82,306 $ 18,023 $ (14,307)
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