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This excerpt taken from the HBI 10-Q filed May 11, 2009. Income
Tax Expense (Benefit)
Our estimated annual effective income tax rate was 22.0% in the
first quarter of 2009 compared to 24.0% in the first quarter of
2008. The lower effective income tax rate is attributable
primarily to higher unremitted earnings from foreign
subsidiaries in the first quarter of 2009 taxed at rates lower
than the U.S. statutory rate. Our estimated annual
effective tax rate reflects our strategic initiative to make
substantial capital investments outside the United States in our
global supply chain in 2009.
These excerpts taken from the HBI 10-K filed Feb 19, 2008. Income
tax expense (benefit)
Our effective income tax rate fluctuates from period to period
and can be materially impacted by, among other things:
Income tax expense (benefit) Our effective income tax rate fluctuates from period to period and can be materially impacted by, among other things:
This excerpt taken from the HBI 8-K filed Nov 29, 2006. Income
Tax Expense (Benefit)
Our effective income tax rate increased from a negative 12.1% in
fiscal 2004 to 36.8% in fiscal 2005. The increase in our
effective tax rate is attributable primarily to an
$81.6 million charge in fiscal 2005 related to the
repatriation of the earnings of foreign subsidiaries to the
United States. Of this total, $50.0 million was recognized
in connection with the remittance of current year earnings to
the United States, and $31.6 million related to earnings
repatriated under the provisions of the American Jobs Creation
Act of 2004. The negative rate in fiscal 2004 is attributable
primarily to an income tax benefit of $128.1 million
resulting from Sara Lee’s finalization of tax reviews and
audits for amounts that were less than originally anticipated
and recognized in fiscal 2004. The tax expense for both periods
was impacted by a number of significant items which are set out
in the reconciliation of our effective tax rate to the
U.S. statutory rate in Note 19 titled “Income
Taxes” to our Combined and Consolidated Financial
Statements.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Income
Tax Expense (Benefit)
Our effective income tax rate increased from a negative 12.1% in
fiscal 2004 to 36.8% in fiscal 2005. The increase in our
effective tax rate is attributable primarily to an
$81.6 million charge in fiscal 2005 related to the
repatriation of the earnings of foreign subsidiaries to the
United States. Of this total, $50.0 million was recognized
in connection with the remittance of current year earnings to
the United States, and $31.6 million related to earnings
repatriated under the provisions of the American Jobs Creation
Act of 2004. The negative rate in fiscal 2004 is attributable
primarily to an income tax benefit of $128.1 million
resulting from Sara Lee’s finalization of tax reviews and
audits for amounts that were less than originally anticipated
and recognized in fiscal 2004. The tax expense for both periods
was impacted by a number of significant items which are set out
in the reconciliation of our effective tax rate to the
U.S. statutory rate in Note 19 titled “Income
Taxes” to our Combined and Consolidated Financial
Statements.
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Income Tax Expense (Benefit)
Our effective income tax rate decreased from 22.1% in fiscal 2003 to a negative 12.1% in fiscal 2004. The decrease in our effective tax rate is attributable primarily to an income tax benefit of $128.1 million resulting from Sara Lee’s finalization of tax reviews and audits for amounts that were less than originally anticipated and recognized in fiscal 2004. The tax expense for both periods was impacted by a number of significant items which are set out in the reconciliation of our effective tax rate to the U.S. statutory rate in Note 19 titled “Income Taxes” to our Combined and Consolidated Financial Statements. | EXCERPTS ON THIS PAGE:
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