Salesforce.com 2012 Annual Report Download - page 100
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The provision (benefit) for income taxes consisted of the following (in thousands):
Fiscal Year Ended January 31,
2012 2011 2010
Current:
Federal ........................................... $ 9,344 $ 29,992 $43,313
State ............................................. 4,346 6,276 8,788
Foreign ........................................... 15,709 13,239 12,179
Total ............................................. 29,399 49,507 64,280
Deferred:
Federal ........................................... (36,601) (8,687) (4,506)
State ............................................. (10,603) (4,745) (979)
Foreign ........................................... (3,940) (1,474) (1,106)
Total ............................................. (51,144) (14,906) (6,591)
Provision (benefit) for income taxes .................... $(21,745) $ 34,601 $57,689
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,
2012 2011 2010
U.S. federal taxes at statutory rate .......................... $(11,661) $ 36,504 $49,833
State, net of the federal benefit ............................ (6) 6,069 8,645
Foreign taxes in excess of the U.S. statutory rate .............. 10,555 3,412 6,748
Tax credits ............................................ (15,049) (13,625) (9,845)
Non-deductible expenses ................................. 5,345 2,621 755
Tax benefit from acquisitions ............................. (12,575) 0 0
Impact of California tax law change ........................ 0 2,199 2,747
Tax—noncontrolling interest .............................. 0 (1,825) (1,390)
Other, net ............................................. 1,646 (754) 196
$(21,745) $ 34,601 $57,689
The Company receives certain tax incentives in Switzerland and Singapore in the form of reduced tax rates.
These temporary tax reduction programs will expire in 2016 and 2014 respectively. The Singapore program is
eligible for renewal.
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