DSW 2011 Annual Report Download - page 80

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Table of Contents DSW INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table sets forth the approximate percentage of DSW sales attributable to each merchandise category:
Income Tax Provision-
The following table presents the composition of the provision (benefit) for income taxes for continuing operations for the
periods presented:
Rate Reconciliation- The following table presents a reconciliation of the expected income taxes for continuing operations
F-36
DSW
Leased
business
division
Other
DSW Inc.
(in thousands)
As of and for the fiscal year ended January 28, 2012
Net sales
$
1,871,917
$
152,412
$
2,024,329
Gross profit
624,391
29,556
653,947
Capital expenditures
76,472
440
76,912
Total assets
1,118,217
89,740
$
(57
)
1,207,900
As of and for the fiscal year ended January 29, 2011
Net sales
$
1,680,889
$
141,487
$
1,822,376
Gross profit
535,384
30,297
565,681
Capital expenditures
52,178
120
52,298
Total assets
925,250
83,647
$
32,580
1,041,477
For the fiscal year ended January 30, 2010
Net sales
$
1,455,044
$
147,561
$
1,602,605
Gross profit
439,347
28,145
467,492
Capital expenditures
21,701
84
21,785
Category
Fiscal 2011
Fiscal 2010
Fiscal 2009
Women’s
66
%
66
%
66
%
Men's
15
%
15
%
15
%
Athletic
12
%
13
%
13
%
Accessories and Other
7
%
6
%
6
%
15 .
INCOME TAXES
Fiscal years ended
January 28, 2012
January 29, 2011
January 30, 2010
Current: (in thousands)
Federal
$
35,811
$
49,446
$
41,924
State and local
10,938
8,507
6,935
Total current tax expense
46,749
57,953
48,859
Deferred:
Federal
(101,797
)
(3,226
)
(30,531
)
State and local
(3,021
)
5,246
(6,273
)
Total deferred tax (benefit) expense
(104,818
)
2,020
(36,804
)
Income tax (benefit) provision
$
(58,069
)
$
59,973
$
12,055