Comerica 2009 Annual Report Download - page 136

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
The current and deferred components of the provision for income taxes for continuing operations were as
follows:
December 31
2009 2008 2007
(in millions)
Current
Federal .................................................... $ (28) $126 $322
Foreign .................................................... 610 11
State and local ............................................... 322 26
Total current ............................................... (19) 158 359
Deferred
Federal .................................................... (102) (86) (51)
State and local ............................................... (10) (13) (2)
Total deferred .............................................. (112) (99) (53)
Total .................................................... $(131) $ 59 $306
Loss from continuing operations before income taxes of $115 million for the year ended December 31,
2009, included $27 million of foreign-source income.
Income from discontinued operations, net of tax, included a provision for income taxes on discontinued
operations of $1 million, $1 million and $2 million for the years ended December 31, 2009, 2008 and 2007,
respectively. The income tax provision on securities transactions was $85 million, $23 million and $2 million for
the years ended December 31, 2009, 2008 and 2007, respectively.
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