Juno 2014 Annual Report Download - page 49
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Table of Contents
The increase in consolidated interest income was primarily due to higher invested cash balances at our India subsidiary.
Interest expense was immaterial for the years ended December 31, 2014 and 2013.
The increase in consolidated other income, net, was primarily due to an increase in realized and unrealized gains related to forward currency exchange
contracts, partially offset by a decrease in gains associated with foreign exchange remeasurement.
For the year ended December 31, 2014, we recorded a provision for income taxes totaling $0.8 million on a pre-tax loss totaling $4.7 million, compared
to a provision for income taxes totaling $46.0 million on a pretax loss totaling $55.5 million for the year ended December 31, 2013. The change in the
effective income tax rate was primarily due to the valuation allowance recorded against our domestic deferred tax assets and the effect of the goodwill
impairment charge recorded in the year ended December 31, 2013.
48
Interest income $ 389 $ 261 $ 128 49%
Interest expense $ — $ 12 $ (12) (100)%
Other income, net $ 506 $ 215 $ 291 135%
Provision for income taxes $ 773 $ 46,011
Effective income tax rate (16.4)% (82.9)%