Panera Bread 2009 Annual Report Download - page 75

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14. Income Taxes
The components of income before income taxes, by tax jurisdiction, were as follows for the periods indicated
(in thousands):
December 29,
2009
December 30,
2008
December 25,
2007
For the Fiscal Year Ended
UnitedStates................................. $139,005 $110,220 $88,399
Canada ..................................... 919 (3) 63
Income before income taxes...................... $139,924 $110,217 $88,462
The provision for income taxes consisted of the following for the periods indicated (in thousands):
December 29,
2009
December 30,
2008(1)
December 25,
2007
For the Fiscal Year Ended
Current:
Federal ................................... $24,428 $37,188 $30,438
State..................................... 5,390 8,192 6,453
Foreign ................................... 304 — —
30,122 45,380 36,891
Deferred:
Federal ................................... 20,006 (3,589) (4,624)
State..................................... 2,945 (519) (833)
Foreign ................................... — — —
22,951 (4,108) (5,457)
Tax Provision ................................ $53,073 $41,272 $31,434
(1) The Company developed its first bakery-cafes in Canada in fiscal 2008. Fiscal 2008 current and deferred
income taxes consisted primarily of United States taxes. Canadian taxes were nominal, and thus were not shown
separately.
69
PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)