Autodesk 2012 Annual Report Download - page 136
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4. Income Taxes
The provision for income taxes consists of the following:
Federal:
Current
Deferred
State:
Current
Deferred
Foreign:
Current
Deferred
Fiscal year ended January 31,
2012
$ 54.3
(34.5)
4.9
1.3
55.9
(4.3)
$ 77.6
2011
$ 16.0
(8.2)
(1.5)
7.4
48.4
(2.1)
$ 60.0
2010
$ 12.3
(33.0)
3.0
7.1
34.1
3.2
$ 26.7
During fiscal year 2012, the Company reduced its current federal and state taxes payable by $31.3 million primarily
related to excess tax benefits from non-qualified stock options, offsetting additional paid-in capital. Pursuant to accounting
standards related to stock-based compensation, the Company has unrecorded excess stock option tax benefits of $150.1 million
as of January 31, 2012. These amounts will be credited to additional paid-in-capital when such amounts reduce cash taxes
payable. Foreign pretax income was $383.7 million in fiscal 2012, $321.1 million in fiscal 2011, and $253.9 million in fiscal
2010.
The differences between the U.S. statutory rate and the aggregate income tax provision are as follows:
Income tax provision at U.S. Federal statutory rate
State income tax expense (benefit), net of the U.S. Federal benefit
Foreign income taxed at rates different from the U.S. statutory rate
U.S. valuation allowance
Non-deductible stock-based compensation
Research and development tax credit benefit
Tax benefit from closure of income tax audits and decreases in uncertain
tax positions
Officer compensation in excess of $1.0 million
Goodwill impairment
Non-deductible in-process research and development charge
Other
Fiscal year ended January 31,
2012
$ 127.0
2.8
(61.5)
1.7
12.8
(6.0)
(0.4)
1.9
—
—
(0.7)
$ 77.6
2011
$ 95.2
1.4
(39.7)
2.8
7.9
(5.6)
(2.8)
0.5
—
—
0.3
$ 60.0
2010
$ 29.7
(0.6)
(22.7)
14.9
11.7
(4.7)
(2.5)
0.3
—
—
0.6
$ 26.7
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