Salesforce.com 2006 Annual Report Download - page 77
Download and view the complete annual report
Please find page 77 of the 2006 Salesforce.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
 |
 |
Table of Contents
salesforce.com, inc.
Notes to Consolidated Financial Statements—(Continued)
The provision (benefit) for income taxes were as follows (in thousands):
Fiscal Year Ended January 31,
2007 2006 2005
Current:
Federal $ 15,243 $ 4,835 $ 354
State 1,362 211 189
Foreign 2,514 869 674
19,119 5,915 1,217
Deferred:
Federal (7,122) (4,362) —
State (1,368) (2,863) —
Foreign (834) — —
$ 9,795 $ (1,310) $ 1,217
A reconciliation of income taxes at the statutory federal income tax rate to the provision (benefit) for income taxes included in the accompanying
consolidated statements of operations is as follows (in thousands):
Fiscal Year Ended January 31,
2007 2006 2005
U.S. federal taxes at statutory rate $ 4,374 $ 9,869 $ 3,207
State, net of the federal benefit (14) 360 189
Foreign losses providing no benefit 3,766 1,978 1,466
Previously unbenefitted tax assets — (5,210) (4,838)
Foreign taxes in excess of the U.S. statutory rate 1,889 280 675
Tax credits (1,691) (2,314) —
Change in valuation allowance — (7,225) —
Other, net 1,471 952 518
$ 9,795 $ (1,310) $ 1,217
Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets were as follows (in thousands):
As of January 31,
2007 2006
Deferred tax assets:
Net operating loss carryforwards $ 6,403 $ 38,796
Deferred stock compensation 10,786 1,324
Tax credits 6,051 4,063
Unrealized losses on marketable securities — 638
Other 15,833 9,359
Total deferred tax assets 39,073 54,180
Less valuation allowance (1,681) (41,826)
Total deferred tax assets 37,392 12,354
Deferred tax liabilities—deferred commissions, prepaid expenses and certain intangibles (16,539) (5,129)
Net deferred tax assets $ 20,853 $ 7,225
74