World Fuel Services 2002 Annual Report Download - page 58

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As of December 31, 2002, the aggregate annual maturities of debt, net of unamortized imputed discount, are as follows
(in thousands):
For the Year Ending December 31,
2003 $ 2,527
2004 1,385
2005 1,469
2006 467
$ 5,848
4. Income Taxes
U.S. and non-U.S. income (loss) from continuing operations before income taxes, based on the country of incorporation
of World Fuel Services Corporation and subsidiaries, consist of the following (in thousands):
For the Nine Months
Ended December 31, For the Year Ended March 31,
2002 2001 2002 2001 2000
(unaudited)
United States (5,674)$ (1,536)$ (1,051)$ (5,014)$ (1,769)$
Non-U.S. 17,430 18,275 24,277 21,357 3,041
11,756$ 16,739$ 23,226$ 16,343$ 1,272$
The provision (benefit) for income taxes related to continuing operations consist of the following components (in
thousands):
For the Nine Months
Ended December 31, For the Year Ended March 31,
2002 2001 2002 2001 2000
(unaudited)
Current:
U.S. federal (805)$ (197)$ 948$ 106$ 584$
State 140 37 449 (99) (386)
Non-U.S. 3,167 4,744 6,757 5,293 4,008
2,502 4,584 8,154 5,300 4,206
Deferred:
U.S. federal (211) (222) (486) (1,109) (479)
State (288) 53 (537) 233 (139)
Non-U.S. (119) (438) (1,140) 133 (2,144)
(618) (607) (2,163) (743) (2,762)
Total 1,884$ 3,977$ 5,991$ 4,557$ 1,444$
Our share of undistributed earnings of non-U.S. subsidiaries, not included in the consolidated U.S. federal income tax
return which could be subject to additional U.S. federal income taxes, if remitted, was approximately $60.3 million at
December 31, 2002, and $49.9 million and $39.5 million at March 31, 2002 and 2001, respectively. The distribution of these
earnings would result in additional U.S. federal and state income taxes to the extent they are not offset by foreign tax credits
and non-U.S. withholding taxes. It is our intention to reinvest undistributed earnings of our non-U.S. companies indefinitely
and thereby postpone their remittance. Accordingly, no provision has been made for taxes that could result from the
remittance of such earnings and it is not practicable to estimate the amount of such taxes. During the year ended March 31,
2002, our non-U.S. subsidiaries remitted to us previously taxed earnings of $6.0 million. As part of our global tax
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