Computer Associates 2012 Annual Report Download - page 95
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Income tax expense (benefit) from continuing operations consists of the following:
YEAR ENDED MARCH 31,
(in millions) 2012 2011 2010
Current:
Federal $ 275 $ 110 $ 198
State 37 48 15
Foreign 120 88 112
432 246 325
Deferred:
Federal 465 28
State (22) 513
Foreign 270 27
(16) 140 68
Total:
Federal 279 175 226
State 15 53 28
Foreign 122 158 139
$ 416 $ 386 $ 393
The tax expense from continuing operations is reconciled to the tax expense computed at the U.S. federal statutory tax rate as
follows:
YEAR ENDED MARCH 31,
(in millions) 2012 2011 2010
Tax expense at U.S. federal statutory tax rate $ 474 $ 423 $ 403
Effect of international operations (89) (129) (55)
U.S. federal and state tax contingencies 23 61 14
State taxes, net of U.S. federal tax benefit 17 13 7
Valuation allowance (15) (2) 5
Other, net 620 19
Tax expense $ 416 $ 386 $ 393
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