Oracle 2010 Annual Report Download - page 235

INCOME TAXES (Table)
INCOME TAXES
(Table) (USD $)
12 Months Ended
05/31/2011
Geographical Break Down of Income before Provision for Income
Taxes Year Ended May 31,
(in millions) 2011 2010 2009
Domestic $6,378 $4,282 $3,745
Foreign 5,033 3,961 4,089
Total income before provision for income
taxes
$
11,411
$8,243 $7,834
Components of Provision for Income Taxes Year Ended May 31,
(Dollars in millions) 2011 2010 2009
Current provision:
Federal $1,817 $1,307 $1,341
State 263 299 361
Foreign 1,037 1,013 934
Total current provision 3,117 2,619 2,636
Deferred provision (benefit):
Federal (179) (380) (177)
State 14 (76) (52)
Foreign (88) (55) (166)
Total deferred benefit (253) (511) (395)
Total provision for income taxes $2,864 $2,108 $2,241
Effective income tax rate 25.1% 25.6% 28.6%
Reconciliation of Differences Between Federal Statutory Tax Rate
and Effective Tax Rate Year Ended May 31,
(in millions) 2011 2010 2009
Tax provision at statutory rate $3,994$2,885$2,742
Foreign earnings at other than United States rates (1,125) (672) (673)
State tax expense, net of federal benefit 188 161 201
Settlements and releases from judicial decisions and
statute expirations, net
(53) (315) 25
Domestic production activity deduction (206) (95) (82)
Other, net 66 144 28
Total provision for income taxes $2,864$2,108$2,241
Source: ORACLE CORP, 10-K, June 28, 2011 Powered by Morningstar® Document Research℠