Albertsons 2008 Annual Report Download - page 93
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SUPERVALU INC. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The carrying value of owned property leased to third parties under operating leases was as follows:
2008 2007
Property, plant and equipment $24 $ 37
Less accumulated depreciation (5) (12)
Property, plant and equipment, net $19 $ 25
NOTE 10—INCOME TAXES
The provision for income taxes consists of the following:
2008 2007 2006
Current
Federal $396 $185 $146
State 63 38 22
Total current 459 223 168
Deferred (75) 72 (45)
Total provision $384 $295 $123
The difference between the actual tax provision and the tax provision computed by applying the statutory federal
income tax rate to earnings before income taxes is attributable to the following:
2008 2007 2006
Federal taxes based on statutory rate $342 $261 $115
State income taxes, net of federal benefit 40 31 11
Other 2 3 (3)
Total provision $384 $295 $123
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