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This excerpt taken from the PDE 10-Q filed Nov 2, 2007. Uncertain
Tax Positions
We adopted the provisions of Financial Accounting Standards
Board (“FASB”) Interpretation No. 48,
Accounting for Uncertainty in Income Taxes
(“FIN 48”), on January 1, 2007. As a
result of the implementation of FIN 48, we recognized an
increase of approximately $18.4 million in the liability
for unrecognized tax benefits, which was accounted for as a
reduction to the January 1, 2007, balance of retained
earnings. As of September 30, 2007, we have approximately
$34.6 million of unrecognized tax benefits that, if
recognized, would affect the effective tax rate. The decrease in
unrecognized tax benefits, as compared to our $38.5 million
unrecognized tax benefit at June 30, 2007, is primarily due
to the disposition of our Latin America Land and E&P
Services segments.
We recognize interest and penalties related to uncertain tax
positions in income tax expense. As of
September 30, 2007, we have approximately
$9.4 million of accrued interest and penalties related to
uncertain tax positions.
For jurisdictions other than the United States, tax years 1995
through 2006 remain open to examination by the major taxing
jurisdictions. With regard to the United States, tax years 2001
through 2006 remain open to examination.
This excerpt taken from the PDE 10-Q filed Aug 2, 2007. Uncertain
Tax Positions
We adopted the provisions of Financial Accounting Standards
Board (“FASB”) Interpretation No. 48,
Accounting for Uncertainty in Income Taxes
(“FIN 48”), on January 1, 2007. As a
result of the implementation of FIN 48, we recognized an
increase of approximately $18.4 million in the liability
for unrecognized tax benefits, which was accounted for as a
reduction to the January 1, 2007, balance of retained
earnings. As of June 30, 2007, we have approximately
$38.5 million of unrecognized tax benefits that if
recognized would affect the effective tax rate.
We recognize interest and penalties related to uncertain tax
positions in income tax expense. As of June 30, 2007, we
have approximately $8.5 million of accrued interest and
penalties related to uncertain tax positions.
Table of Contents
Pride
International, Inc.
Notes to Unaudited Consolidated Financial
Statements — (Continued)
For jurisdictions other than the United States, tax years 1995
through 2006 remain open to examination by the major taxing
jurisdictions. With regard to the United States, tax years 1999
through 2006 remain open to examination.
This excerpt taken from the PDE 10-Q filed May 8, 2007. Uncertain
Tax Positions
We adopted the provisions of Financial Accounting Standards
Board (“FASB”) Interpretation No. 48,
Accounting for Uncertainty in Income Taxes
(“FIN 48”), on January 1, 2007. As a
result of the implementation of FIN 48, we recognized
approximately a $18.4 million increase in the liability for
unrecognized tax benefits, which was accounted for as a
reduction to the January 1, 2007, balance of retained
earnings. As of March 31, 2007, we have approximately
$38.5 million of unrecognized tax benefits that if
recognized would affect the effective tax rate.
Table of Contents
Pride
International, Inc.
Notes to
Unaudited Consolidated Financial
Statements — (Continued)
We recognize interest and penalties related to uncertain tax
positions in income tax expense. As of March 31, 2007, we
have approximately $7.0 million of accrued interest and
penalties related to uncertain tax positions.
For jurisdictions other than the United States, tax years 1995
through 2006 remain open to examination by the major taxing
jurisdictions. With regard to the United States, tax years 1999
through 2006 remain open to examination.
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