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This excerpt taken from the HSY 10-K filed Feb 19, 2010. Income Taxes and Effective Tax Rate 2009 compared with 2008 Our effective income tax rate was 35.0% for 2009 and was decreased by 0.5 percentage points as a result of the effective tax rate associated with business realignment charges recorded during the year. Our effective income tax rate was also lower in 2009 due to changes in the mix of income among various tax jurisdictions as compared with 2008. 2008 compared with 2007 Our effective income tax rate was 36.7% in 2008, and was increased by 0.7 percentage points as a result of the effective tax rate associated with business realignment charges recorded during the year.
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This excerpt taken from the HSY 10-K filed Feb 20, 2009. Income Taxes and Effective Tax Rate 2008 compared with 2007 Our effective income tax rate was 36.7% in 2008, and was increased by 0.7 percentage points as a result of the effective tax rate associated with business realignment charges recorded during the year.
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Table of Contents2007 compared with 2006 Our effective income tax rate was 37.1% for 2007 and 36.2% for 2006. The impact of tax rates associated with business realignment and impairment charges increased the effective income tax rate for 2007 by 1.1 percentage points. This excerpt taken from the HSY 10-K filed Feb 19, 2008. Income Taxes and Effective Tax Rate 2007 compared with 2006 Our effective income tax rate was 37.1% for 2007 and 36.2% for 2006. The impact of tax rates associated with business realignment and impairment charges increased the effective income tax rate for 2007 by 1.1 percentage points. 2006 compared with 2005 Our effective income tax rate was 36.2% for 2006 and 2005. This excerpt taken from the HSY 10-K filed Feb 23, 2007. Income Taxes and Effective Tax Rate 2006 compared with 2005 Our effective income tax rate was 36.2% for 2006 and 2005. 2005 compared with 2004 The effective income tax rate for 2005 benefited by 0.2 percentage points from the impact of tax rates associated with business realignment charges. Our effective income tax rate for 2004 was not comparable to 2005 because in 2004 we settled Federal tax audits for the 1999 and 2000 tax years and resolved several state tax audit issues. Our provision for income taxes was reduced by $61.1 million from adjustments to income tax contingency reserves related to those years. The income tax contingency reserve adjustments related primarily to the deductibility of certain expenses, interest on potential assessments, and acquisition and divestiture matters. The reduction in the 2004 provision for income taxes resulting from the adjustment to income tax contingency reserves reduced the effective income tax rate by 7.3 percentage points. | EXCERPTS ON THIS PAGE:
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