XM Radio 2013 Annual Report Download - page 126
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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(Dollar amounts in thousands, unless otherwise stated)
focuses on practices relating to the cancellation of subscriptions; automatic renewal of subscriptions; charging,
billing, collecting, and refunding or crediting of payments from consumers; and soliciting customers.
A separate investigation into our consumer practices is being conducted by the Attorneys General of the
State of Florida and the State of New York. We are cooperating with these investigations and believe our
consumer practices comply with all applicable federal and state laws and regulations.
Other Matters. In the ordinary course of business, we are a defendant in various other lawsuits and
arbitration proceedings, including derivative actions; actions filed by subscribers, both on behalf of themselves
and on a class action basis; former employees; parties to contracts or leases; and owners of patents, trademarks,
copyrights or other intellectual property. None of these other actions are, in our opinion, likely to have a material
adverse effect on our business, financial condition or results of operations.
(17) Income Taxes
Holdings
There is no current U.S. federal income tax provision, as all federal taxable income was offset by utilizing
U.S. federal net operating loss carryforwards. The current state income tax provision is primarily related to
taxable income in certain states that have suspended the ability to use net operating loss carryforwards. The
current foreign income tax provision is primarily related to a reimbursement of foreign withholding taxes on
royalty income between us and our Canadian affiliate.
Holdings files a consolidated federal income tax return with its wholly-owned subsidiaries. Income tax
expense (benefit) attributable to Holdings consisted of the following:
For the Years Ended December 31,
2013 2012 2011
Current taxes:
Federal .......................................... $ — $ — $ —
State ............................................ 5,359 1,319 3,229
Foreign .......................................... (5,269) 2,265 2,741
Total current taxes ............................... 90 3,584 5,970
Deferred taxes:
Federal .......................................... 211,044 (2,729,823) 3,991
State ............................................ 48,743 (271,995) 4,273
Total deferred taxes .............................. 259,787 (3,001,818) 8,264
Total income tax expense (benefit) ................ $259,877 $(2,998,234) $14,234
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