Orbitz 2009 Annual Report Download - page 95

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Our effective income tax rate differs from the U.S. federal statutory rate as follows for the periods
specified below:
Year Ended
December 31, 2008
Successor
Year Ended
December 31, 2007
Successor
Period from
August 23, 2006 to
December 31, 2006
Successor
Period from
January 1, 2006 to
August 22, 2006
Predecessor
Federal statutory rate .............. 35.0% 35.0% 35.0% 35.0%
State and local income taxes, net of
federal benefit ................. 0.1 (1.2) (1.4) —
Rate change impact on deferred income
taxes ........................ — (2.4) — —
Taxes on non-U.S. operations at
differing rates.................. (1.3) (2.4) (36.0) (45.4)
Taxes on other repatriated foreign
income, net of tax credits . . ....... — — (3.1) —
Change in valuation allowance ....... (9.0) (110.6) 3.2 9.7
Goodwill impairment .............. (24.8) — — —
Foreign deemed dividends . . . ....... — (12.5) — —
Non deductible public offering costs . . . — (2.0) — —
Reserve for uncertain tax positions .... 0.1 (5.1) — —
Other.......................... 0.6 (1.5) (1.9) (0.1)
Effective income tax rate ........... 0.7% (102.7)% (4.2)% (0.8)%
95
ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)