FairPoint Communications 2009 Annual Report Download - page 149

Table of Contents
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up to 5% of compensation. For the 401(k) Plan years ended December 31, 2008 and 2007, the Company generally matched in the Legacy FairPoint
401(k) plans 100% of each employee's contribution up to 3% of compensation and 50% of additional contributions up to 6% or as otherwise required
by relevant collective bargaining agreement; in the Northern New England 401(k) management plan an amount equal to 100% of each employee's
contribution up to 6% of base compensation, plus, depending on Company performance, an additional discretionary match of up to 50% of the next 3%
of base compensation; and in the Northern New England 401(k) plan for union associates an amount equal to 82% of each employee's contribution up
to 6% of base compensation. Total Company contributions to all 401(k) Plans were $9.8 million, $10.9 million, and $11.0 million for the years ended
December 31, 2009, 2008 and 2007, respectively. The $9.8 million of Company contributions during the year ended December 31, 2009 includes a
lump sum contribution of $1.2 million made in 2010 to match certain employee contributions made during the year ended December 31, 2009.
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Income tax (expense) benefit for the years ended December 31, 2009, 2008, and 2007 consists of the following components (in thousands):
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Current:
Federal $ — $ 8,027 $ (48,688)
State and local (240) 1,498 (10,552)
Total current income tax (expense) benefit (240) 9,525 (59,240)
Investment tax credits 532 417 578
Deferred:
Federal 69,704 30,269 32,844
State and local 9,018 3,197 6,359
Total deferred income tax (expense) benefit 78,722 33,466 39,203
Total income tax (expense) benefit $ 79,014 $ 43,408 $ (19,459)