Dunkin' Donuts 2013 Annual Report Download - page 97
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-87-
The provision for income taxes from continuing operations differed from the expense computed using the statutory federal
income tax rate of 35% due to the following:
Fiscal year ended
December 28,
2013
December 29,
2012
December 31,
2011
Computed federal income tax expense, at statutory rate 35.0% 35.0% 35.0%
Permanent differences:
Impairment of investment in BR Korea — — 9.8
Other permanent differences 0.2 0.7 0.9
State income taxes 4.7 5.2 6.9
Benefits and taxes related to foreign operations (4.3)(2.9)(6.8)
Changes in enacted tax rates and apportionment 0.8 2.8 3.0
Uncertain tax positions (3.2)(6.3) 1.9
Other (0.3)(0.9)(2.2)
Effective tax rate 32.9% 33.6% 48.5%
During fiscal year 2013, the Company recorded a net tax benefit of $8.4 million related to the reversal of reserves for uncertain
tax positions for which settlement with the taxing authorities was reached, including interest and penalty, net of federal and
state tax benefit as applicable, and recognized a deferred tax expense of $1.7 million due to estimated changes in apportionment
and enacted changes in future state income tax rates. During fiscal year 2012, the Company recorded a net tax benefit of $10.2
million primarily related to the reversal of reserves for uncertain tax positions, including interest and penalty, net of federal and
state tax benefit as applicable, for which settlement with the taxing authorities was reached, and recognized a deferred tax
expense of $4.6 million due to estimated changes in apportionment and enacted changes in future state income tax rates. In
addition, the Company recognized deferred tax expense of $1.9 million in fiscal year 2011 due to enacted changes in future
state income tax rates. These changes in estimates and enacted tax rates affect the tax rate expected to be in effect in future
periods when the deferred tax assets and liabilities reverse.