AMD 2005 Annual Report Download - page 102
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Table of Contents
The table below displays reconciliation between statutory federal income taxes and the total provision (benefit) for income taxes.
(In thousands except for percentages)
Tax Expense
(Benefit) Rate
2005
Statutory federal income tax expense $ 55,611 35.0%
State taxes, net of federal benefit 750 0.5%
Foreign income at other than U.S. rates (14,888) (9.4)%
Foreign losses not benefited 85,852 54.0%
Benefit for net operating losses utilized (133,967) (84.3)%
Other — — %
$ (6,642) (4.2)%
2004
Statutory federal income tax expense $ 33,948 35.0%
State taxes, net of federal benefit — — %
Foreign income at other than U.S. rates (20,689) (21.3)%
Foreign losses not benefited 22,482 23.1%
Benefit for net operating losses utilized (38,513) (39.7)%
Tax on repatriated dividends 8,610 8.9%
Other — — %
$ 5,838 6.0%
2003
Statutory federal income tax expense $ (97,113) (35.0)%
State taxes, net of federal benefit — — %
Foreign income at other than U.S. rates (21,579) (7.7)%
Net operating losses not currently benefited 118,464 42.7%
Other 3,164 1.1%
$ 2,936 1.1%
The Company has made no provision for U.S. income taxes on approximately $278 million of cumulative undistributed earnings of certain foreign
subsidiaries through December 25, 2005 because it is the Company’s intention to permanently reinvest such earnings. If such earnings were distributed, the
Company would accrue additional income tax expense of approximately $84 million.
97
Source: ADVANCED MICRO DEVIC, 10-K, February 27, 2006