Redbox 2006 Annual Report Download - page 66

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COINSTAR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
YEARS ENDED DECEMBER 31, 2006, 2005, AND 2004
under this plan was 600,000. Eligible employees participated through payroll deductions in amounts related to
their basic compensation. At the end of each six-month offering period, shares were purchased by the participants
at 85% of the lower of the fair market value at the beginning of the offering period or the end of a purchase
period. During 2005 and 2004 stock purchases totaling $989,000 and $770,000, respectively, were made as a
result of payroll deductions from employees. Actual shares purchased by participating employees in 2005 and
2004 totaled 82,454 and 66,126 at an average price of $11.99 and $11.65, respectively. As of December 31,
2006, we no longer have an Employee Stock Purchase Plan, as the plan period ended July 31, 2005 and was not
renewed.
NOTE 10: INCOME TAXES
The components of income (loss) before income taxes were as follows:
December 31,
2006 2005 2004
(in thousands)
U.S. operations .......................................... $36,175 $36,903 $27,480
Foreign operations ....................................... (5,475) (404) 3,057
Total income before income taxes ....................... $30,700 $36,499 $30,537
The components of income tax expense (benefit) were as follows:
December 31,
2006 2005 2004
(in thousands)
Current:
U.S. Federal ................................................... $ 826 $ 506 $ 382
State and local ................................................. 617 37 170
Foreign ....................................................... 447 (631) 1,020
Total current ............................................... 1,890 (88) 1,572
Deferred:
U.S. Federal ................................................... 9,519 11,899 7,817
State and local ................................................. 2,079 2,059 1,360
Foreign ....................................................... (1,415) 357 (580)
Total deferred .............................................. 10,183 14,315 8,597
Total tax expense ................................................... $12,073 $14,227 $10,169
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