Equifax 2015 Annual Report Download - page 62

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– 61 –
Twelve Months Ended December 31,
2015 2014 2013
(Inmillions)
U.S. $607.6 $521.5 $458.4
Foreign 29.0 52.7 72.0
$636.6 $574.2 $530.4
The provision for income taxes reconciles with the U.S. federal statutory rate, as follows:
Twelve Months Ended December 31,
2015 2014 2013
(Inmillions)
Federal statutory rate 35.0%35.0%35.0%
Provision computed at federal statutory rate $222.8 $201.0 $185.6
State and local taxes, net of federal tax benefit 5.2 13.1 12.1
Foreign (21.8)(7.3)(4.1)
Valuation allowance —(2.2)(0.6)
Tax reserves 0.9 0.6 (1.2)
Other (5.3)(5.0)(2.9)
Provision for income taxes $201.8 $200.2 $188.9
Effective income tax rate 31.7%34.9%35.6%
We record deferred income taxes using enacted tax laws and rates for the years in which the taxes are expected to be
paid. Deferred income tax assets and liabilities are recorded based on the differences between the financial reporting and
income tax bases of assets and liabilities. For additional information about our income tax policy, see Note 1 of the Notes to
Consolidated Financial Statements. The intercompany restructuring of legal entity ownership resulted in the recognition of tax-
effected net operating losses for non-US tax purposes in the amount of $106.2 million in 2015. We do not anticipate being able
to recognize the benefit of the net operating losses in the foreseeable future resulting in a full valuation allowance as of
December 31, 2015.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
78
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