United Airlines 2013 Annual Report Download - page 83

Table of Contents
The income tax provision differed from amounts computed at the statutory federal income tax rate, as follows (in millions):
  
Income tax provision at statutory rate $ 189 $ 223
State income taxes, net of federal income tax 5 5
Foreign income taxes 3 3
Nondeductible employee meals 15 15
Nondeductible interest expense — —
Derivative market adjustment — (24)
Nondeductible compensation 3 3
State rate change (33) (33)
Valuation allowance (219) (229)
Other, net 5 20
$ (32) $ (17)

Income tax provision at statutory rate $(253) $(230)
State income taxes, net of federal income tax (15) (7)
Foreign income taxes 7 7
Nondeductible employee meals 12 12
Nondeductible interest expense 19 19
Derivative market adjustment — (15)
Nondeductible compensation 5 5
Valuation allowance 234 223
Other, net (10) (10)
$ (1) $ 4

Income tax provision at statutory rate $ 298 $299
State income taxes, net of federal income tax (19) (17)
Nondeductible acquisition costs (17) (17)
Nondeductible employee meals 12 12
Nondeductible interest expense 13 13
Derivative market adjustment — 10
Nondeductible compensation 9 10
Valuation allowance (294) (315)
Other, net 3 3
$ 5 $ (2)
State tax benefit recorded in 2011 resulted from certain adjustments to existing state tax net operating losses, and such benefit was fully offset by an increase in
the valuation allowance.
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