This excerpt taken from the ALL 10-Q filed May 7, 2009.
Income tax expense of $37 million was recognized for the first quarter of 2009 compared to an income tax benefit of $66 million in the same period of 2008. Income tax expense for the first quarter of 2009 includes expense of $142 million attributable to an increase in the valuation allowance relating to the deferred tax asset on capital losses. For further discussion of changes in this valuation allowance see the Deferred Taxes section of the MD&A.
This excerpt taken from the ALL 10-Q filed Oct 31, 2007.
Income tax expense, excluding income tax (expense) benefit related to realized capital gains and losses, DAC and DSI amortization related to realized capital gains and losses, and gain (loss) on disposition of operations, increased by 4.6% and 1.4% in the third quarter and first nine months of 2007 compared to the same periods in the prior year. The increase in both periods is proportional to the increase in the income to which the tax relates. The effective tax rates were relatively consistent in each of the periods.