Snapple 2008 Annual Report Download - page 101
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13. Income Taxes
(Loss) income before provision for income taxes and equity in earnings of unconsolidated subsidiaries was as
follows (in millions):
2008 2007 2006
For the Year Ended
December 31,
U.S. ..................................................... $(534) $650 $698
Non-U.S. ................................................. 159 167 107
Total ................................................... $(375) $817 $805
The provision for income taxes attributable to continuing operations has the following components (in
millions):
2008 2007 2006
For the Year Ended
December 31,
Current:
Federal.................................................. $111 $199 $220
State ................................................... 43 33 40
Non-U.S. ................................................ 37 41 23
Total current provision ...................................... 191 273 283
Deferred:
Federal.................................................. (223) 29 10
State ................................................... (36) 4 7
Non-U.S. ................................................ 7 16 (2)
Total deferred provision ................................... (252) 49 15
Total provision for income taxes ............................. $ (61) $322 $298
In 2008, 2007 and 2006, the reported amount of income tax expense is different from the amount of income tax
expense that would result from applying the federal statutory rate due principally to state taxes, tax reserves and the
deduction for domestic production activity. Additionally, with respect to 2008, the most significant difference is the
impairment of goodwill and intangible assets. Refer to Note 3 for further information.
77
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)