LeapFrog 2008 Annual Report Download - page 81
Download and view the complete annual report
Please find page 81 of the 2008 LeapFrog annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
 |
 |
LEAPFROG ENTERPRISES, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
12. Income Taxes
The Company accounts for income taxes in accordance with the requirements of SFAS 109 and FIN 48. The
Company’s loss before taxes included the following components:
Years Ending December 31,
2008 2007 2006
United States .................................................. $(63,411) $(116,590) $ (83,630)
Foreign ....................................................... (2,971) 18,998 (34,851)
Total ..................................................... $(66,382) $ (97,592) $(118,481)
The components of the provision for (benefit from) income taxes were as follows:
Years Ending December 31,
2008 2007 2006
Current:
Federal ......................................................... $ (774) $ — $ —
State ........................................................... 83 — —
Foreign ........................................................ 1,108 3,198 (172)
Total current ............................................... 417 3,198 (172)
Deferred:
Federal ......................................................... $ 854 $ 411 $19,659
State ........................................................... 43 63 5,969
Foreign ........................................................ (874) (2,197) 1,155
Total deferred .............................................. 23 (1,723) 26,783
Non-current:
Federal ......................................................... $ 402 $ 346 $ —
State ........................................................... 157 519 —
Foreign ........................................................ 875 1,383 —
Total non-current ........................................... 1,434 2,248 —
Grand total ............................................ $1,874 $ 3,723 $26,611
The differences between the provision for income taxes and the income tax determined by applying the
statutory federal income tax rate of 35% were as follows:
Years Ending December 31,
2008 2007 2006
Income tax (benefit) at the statutory rate ............................ $(23,234) $(34,157) $(41,469)
State income taxes ................................................ 283 582 5,969
Foreign operations ................................................ 588 (5,648) 13,181
Tax exempt interest ............................................... — — (177)
Interest and penalties .............................................. 1,288 932 —
Nondeductible items ............................................... 1,534 164 279
Research and development credits .................................... (600) (505) (1,209)
IRS refunds ...................................................... (1,918) — —
Other ........................................................... 1,965 1,625 458
Less: valuation allowance .......................................... 21,968 40,730 49,579
Income tax provision ............................................. $ 1,874 $ 3,723 $ 26,611
F-23