Tyson Foods 2011 Annual Report Download - page 23

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23
Effective Tax Rate
2011
2010
2009
31.8%
36.4%
(1.5)%
The effective tax rate on continuing operations was impacted by a number of items which result in a difference between our effective
tax rate and the U.S. statutory rate of 35%. The table below reflects significant items impacting the rate as indicated.
2011 –
●
Domestic production activity deduction reduced the rate 2.3%.
●
Net decrease in unrecognized tax benefits reduced the rate 1.7%.
●
State income taxes increased the rate 1.6%.
●
General business credits decreased the rate 0.9%
2010 –
●
Domestic production activity deduction reduced the rate 2.0%.
●
Decrease in unrecognized tax benefits reduced the rate 1.4%.
●
Decrease in state valuation allowances reduced the rate 1.0%.
●
State income taxes increased the rate 3.4%.
2009 –
●
Impairment of goodwill, which is not deductible for income tax purposes, reduced the rate 36.1%.
●
Increase in foreign valuation allowances reduced the rate 3.8%.
●
General business credits increased the rate 2.2%.
●
Tax planning in foreign jurisdictions increased the rate 1.7%.
SEGMENT RESULTS
We operate in four segments: Chicken, Beef, Pork and Prepared Foods. The following table is a summary of sales and operating
income (loss), which is how we measure segment income (loss). Segment results exclude the results of our discontinued operation,
Lakeside.
in millions
Sales
Operating Income (Loss)
2011
2010
2009
2011
2010
2009
Chicken
$11,017
$10,062
$9,660
$164
$519
$(157)
Beef
13,549
11,707
10,937
468
542
(346)
Pork
5,460
4,552
3,875
560
381
160
Prepared Foods
3,215
2,999
2,836
117
124
133
Other
127
0
0
(24)
(10)
(5)
Intersegment Sales
(1,102)
(890)
(604)
0
0
0
Total
$32,266
$28,430
$26,704
$1,285
$1,556
$(215)