DSW 2015 Annual Report Download - page 70

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Table of Contents


. 
Income Tax Provision- The following table presents the composition of the provision for income taxes for continuing operations for the periods presented:
Fiscal year ended
January 30, 2016
January 31, 2015
February 1, 2014
Current: (in thousands)
Federal $ 64,416
$ 80,205
$ 36,407
Foreign 941
716
22
State and local 9,186
16,832
14,671
Total current tax expense 74,543
97,753
51,100
Deferred:
Federal 8,035
(1,616)
42,557
Foreign 817
—
—
State and local 411
255
(1,098)
Total deferred tax expense 9,263
(1,361)
41,459
Income tax provision $ 83,806
$ 96,392
$ 92,559
Rate Reconciliation- The following table presents a reconciliation of the expected income taxes for continuing operations based upon the statutory federal
income tax rate:
Fiscal year ended
January 30, 2016
January 31, 2015
February 1, 2014
(in thousands)
Income tax expense at federal statutory rate $ 76,944
$ 87,297
$ 85,402
State and local taxes-net 7,847
8,808
8,532
Foreign 1,031
(405)
(16)
Other (2,016)
692
(1,359)
Income tax provision $ 83,806
$ 96,392
$ 92,559
F- 31
Source: DSW Inc., 10-K, March 24, 2016 Powered by Morningstar® Document Research℠
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