Cardinal Health 2010 Annual Report Download - page 86

Download and view the complete annual report

Please find page 86 of the 2010 Cardinal Health annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

9
.IN
CO
ME TAXE
S
E
arnings before income taxes and discontinued operations are as follows for fiscal 2010, 2009 and 2008:
Fiscal Year Ended June 30
,
(
in millions) 2
0
1
0
2
009
2
008
U
.S. O
p
erations
.
..........................
$
979.6
$
959.2
$
894.
0
Non-U.S. O
p
eration
s
.......................
232.0 200.6 401.1
$
1
,
211.6 $1
,
159.8 $1
,
295.1
T
h
e prov
i
s
i
on
f
or
i
ncome taxes
f
rom cont
i
nu
i
n
g
operat
i
ons cons
i
sts o
f
t
h
e
f
o
ll
ow
i
n
gf
or
fi
sca
l
2010, 2009
an
d
2008:
F
iscal Year Ended June 30,
(
in millions) 201
0
2
009 2008
C
urrent
:
F
e
d
era
l
...............................
$
429.4
$
192.2
$
374.8
S
tate an
dl
oca
l
.........................
6
3.3 45.6 91.4
N
on-U.
S.
..............................
11.7 14.4 18.
6
Tota
l
.............................
50
4.4 2
5
2.2 4
8
4.
8
De
f
erre
d:
F
e
d
era
l
...............................
1
03.0 125.0 (64.3
)
S
tate an
dl
oca
l
.........................
1
8
.2 2
3
.
036
.
0
N
on-
U
.
S.
..............................
(1.0) 1.4 (8.
6)
T
ota
l
.............................
1
20.2 149.4 (36.9
)
Tota
l
prov
i
s
i
on
.....................
$
624.6
$
401.6
$
447.
9
A
reconc
ili
at
i
on o
f
t
h
e prov
i
s
i
on
b
ase
d
on t
h
e
f
e
d
era
l
statutory
i
ncome tax rate to our e
ff
ect
i
ve
i
ncome ta
x
r
ate
f
rom cont
i
nu
i
ng operat
i
ons
i
sas
f
o
ll
ows
f
or
fi
sca
l
2010, 2009 an
d
2008:
Fiscal Year Ended June 30
,
2
010 200
9
200
8
P
rov
i
s
i
on at Fe
d
era
l
statutory rat
e
...................
35
.0% 3
5
.0% 3
5
.0
%
State an
dl
oca
li
ncome taxes
,
net o
ff
e
d
era
lb
ene
fi
t ......
4
.7
1
.
84
.
4
Fore
i
gn tax rate
diff
erent
i
a
l
........................
(2
.
0) (3
.
8) (
7.
2)
Non
d
e
d
uct
ibl
e/nontaxa
bl
e
i
tem
s
..................... 0.2 1.6 1.
6
D
e
f
erre
d
state tax rate a
dj
ustmen
t
...................
(
0.
5)
1.
5
2.0
C
ap
i
ta
l
ga
i
n
f
rom repatr
i
at
i
on
.
......................
0
.
00
.
03
.7
V
a
l
uat
i
on a
ll
owances
.............................
(2
.
3) (3
.
1) (3
.7
)
U
nrem
i
tte
df
ore
i
gn earn
i
ngs
........................
13
.
90
.
00
.
0
O
t
h
er .......................................... 2.6 1.6
(1
.
2)
Effecti
v
e income tax rate
..........................
5
1.
6
%
3
4.
6
%
3
4.
6%
A
s of June 30, 2010 we had $2.0 billion of total undistributed earnin
g
s from non-U.S. subsidiaries of which
$
1.3 billion are intended to be permanentl
y
reinvested in non-U.S. operations. We recorded a char
g
e of $16
8
m
illi
on
d
ur
i
n
gfi
sca
l
2010 to re
fl
ect t
h
e ant
i
c
i
pate
d
repatr
i
at
i
on o
f
certa
i
n
f
ore
ig
n earn
i
n
g
s. W
i
t
h
respect to t
he
earn
i
n
g
st
h
at are cons
id
ere
d
permanent
ly
re
i
nveste
d
, no U.S. tax prov
i
s
i
on
h
as
b
een accrue
d
re
l
ate
d
to t
h
e
r
epatr
i
at
i
on o
f
t
h
ese earn
i
n
g
s. It
i
s not pract
i
ca
bl
e to est
i
mate t
h
e amount o
f
U.S. tax t
h
at m
igh
t
b
epa
y
a
bl
eont
he
eventua
l
rem
i
ttance o
f
suc
h
earn
i
n
g
s.
6
0