Plantronics 2011 Annual Report Download - page 82

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Effect of Non-Designated Derivative Contracts on the Consolidated Statements of Operations
The effect of non-designated derivative contracts under the Derivatives and Hedging Topic of the FASB ASC on results of operations
recognized in Interest and other income (expense), net in the Consolidated statements of operations was as follows:
(in thousands)
Gain (loss) on foreign exchange contracts
Fiscal Year Ended March 31,
2011
$ (1,800)
2010
$ (996)
2009
$ 5,590
15. RESEARCH AND DEVELOPMENT GRANTS
As of March 31, 2011, the Company has received approximately $1.1 million in Mexican government grant funds that are designated
for use in various research and development activities. The Company's accounting policy is to offset research and development
expenses or reduce the cost basis of capital expenditures as incurred against the funds received, depending upon the terms of the
grant. During the year ended March 31, 2011, the Company utilized all of these funds against research and development expenses
and capital expenditures.
16. INCOME TAXES
Income tax expense from continuing operations for fiscal years 2011, 2010 and 2009 consisted of the following:
(in thousands)
Current:
Federal
State
Foreign
Total current provision for income taxes
Deferred:
Federal
State
Foreign
Total deferred benefit for income taxes
Income tax expense from continuing operations
Fiscal Year Ended March 31,
2011
$ 22,601
1,077
5,888
29,566
475
1,262
110
1,847
$ 31,413
2010
$ 17,761
2,290
7,241
27,292
(2,841)
(199)
35
(3,005)
$ 24,287
2009
$ 6,140
2,452
4,739
13,331
1,323
(1,603)
(476)
(756)
$ 12,575
The components of income from continuing operations before income taxes for fiscal years 2011, 2010 and 2009 are as follows:
(in thousands)
United States
Foreign
Income from continuing operations before income taxes
Fiscal Year Ended March 31,
2011
$ 75,426
65,230
$ 140,656
2010
$ 51,392
49,348
$ 100,740
2009
$ 32,671
25,246
$ 57,917
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