Ross 2011 Annual Report Download - page 50

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48
Note F: Taxes on Earnings
The provision for income taxes consisted of the following:
($000) 2011 2010 2009
Current
Federal $ 343,550 $ 329,723 $ 242,111
State 30,702 30,478 17,548
374,252 360,201 259,659
Deferred
Federal 25,383 (11,139) 13,417
State (3,661) (6,838) 2,696
21,722 (17,977) 16,113
Total $ 395,974 $ 342,224 $ 275,772
In fiscal 2011, 2010, and 2009, the Company realized tax benefits of $19.0 million, $15.4 million and $8.6 million, respectively,
related to employee equity programs that were credited to additional paid-in capital.
The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory
federal income tax rate. Differences are as follows:
2011 2010 2009
Federal income taxes at the statutory rate 35% 35% 35%
State income taxes (net of federal benefit) and other, net 3% 3% 3%
Total 38% 38% 38%