Autodesk 2007 Annual Report Download - page 166

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 4. Income Taxes (Continued)
The principal reasons that the aggregate income tax provisions differ from the U.S. statutory rate are
as follows:
Fiscal year ended January 31,
2007 2006 2005
As Restated (1) As Restated (1)
Income tax provision at statutory rate . . . . . . . . . . . . . . $ 128.3 $ 137.0 $ 85.0
Foreign income taxed at rates different from the U.S.
statutory rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (46.9) (52.6) (30.6)
Non-deductible stock-based compensation . . . . . . . . . 12.8 0.5 0.8
Net income tax benefit from closure of income tax
audits ......................................... (12.4) (10.0) (8.9)
Research and development tax credit benefit. . . . . . . . (5.6) (3.6) (3.0)
Extraterritorial income exclusion . . . . . . . . . . . . . . . . . . . (5.0) (8.9) (6.2)
State income taxes, net of the Federal benefit . . . . . . . 2.5 3.5 1.8
Officer compensation in excess of $1.0 million . . . . . . . 0.2 0.6 1.3
Net income tax benefit from DRD Legislation on
prior year foreign earnings. . . . . . . . . . . . . . . . . . . . . . . — (12.5) (15.5)
Non-deductible In-Process research and
development charge ............................ — 3.1 —
Change in valuation allowance. . . . . . . . . . . . . . . . . . . . . — — (2.2)
Tax-exempt interest............................... — — (1.5)
Other ........................................... 2.9 1.0 1.0
$ 76.8 $ 58.1 $ 22.0
(1) See Note 2, “Restatement of Consolidated Financial Statements,” in Notes to Consolidated Financial
Statements.