Sally Beauty Supply 2013 Annual Report Download - page 136
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Sally Beauty Holdings, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
Fiscal Years ended September 30, 2013, 2012 and 2011
16. Income Taxes
The provision for income taxes for the fiscal years 2013, 2012 and 2011 consists of the following (in
thousands):
Year Ended September 30,
2013 2012 2011
Current:
Federal ............................... $113,057 $ 97,866 $ 97,172
Foreign ............................... 9,997 10,925 11,081
State ................................ 17,727 16,692 13,629
Total current portion ................... 140,781 125,483 121,882
Deferred:
Federal ............................... 13,932 4,920 2,615
Foreign ............................... (2,822) (2,888) (2,525)
State ................................ (375) 364 242
Total deferred portion .................. 10,735 2,396 332
Total provision for income tax ............ $151,516 $127,879 $122,214
The difference between the U.S. statutory federal income tax rate and the effective income tax rate is
summarized below:
Year Ended
September 30,
2013 2012 2011
Statutory tax rate .................................. 35.0% 35.0% 35.0%
State income taxes, net of federal tax benefit .............. 2.8 3.4 2.8
Effect of foreign operations .......................... (0.6) (0.4) (1.3)
Effect of limited restructuring ......................... — (2.8) —
Other, net ....................................... (0.5) 0.2 (0.1)
Effective tax rate ................................ 36.7% 35.4% 36.4%
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