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Income Taxes
6 Months Ended
Jun. 28, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The provision for income taxes for 2013 and 2012 are computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis, adjusted for changes in valuation allowances relating to the Company’s net operating loss and capital loss carryforwards. The effective rates for the three month periods ended June 28, 2013 and June 29, 2012, were (16.3)% and 6.4%, respectively.
The effective rate for the three months ended June 28, 2013 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.
The effective rate for the three months ended June 29, 2012 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.
The effective tax rates for the six month periods ended June 28, 2013 and June 29, 2012, were 1.5% and 5.7%, respectively.
The effective rate for the six months ended June 28, 2013 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.
The effective rate for the six months ended June 29, 2012 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations as compared to the U.S. federal rates, and valuation allowances related to net losses in the UK and for U.S. federal and state net operating losses.