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Note 6 - Income Taxes (Details) - Reconciliation of the U.S. Statutory Income Tax Rate To Effective Tax Rate
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Reconciliation of the U.S. Statutory Income Tax Rate To Effective Tax Rate [Abstract]      
Statutory U.S. income tax rate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
State income tax (benefit), net of federal effect 4.90%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes [1] 0.60%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes 0.20%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
Tax holidays (1) (0.40%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays [2] (1.20%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays [2] (1.70%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays [2]
Investment and other tax credits (2) (0.30%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits [3] (2.00%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits [3] (1.10%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits [3]
Rate difference on foreign earnings (8.30%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential (7.90%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential [4] (2.00%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
Equity earnings impact (3) (2.00%)us-gaap_EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary [5] (6.60%)us-gaap_EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary [5] (13.60%)us-gaap_EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary [5]
Valuation allowances 0.70%us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance [6] 3.10%us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance [7] (0.10%)us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
Other items, net 1.10%us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments [8] (0.30%)us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments 0.50%us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments
Effective income tax (benefit) rate 30.70%us-gaap_EffectiveIncomeTaxRateContinuingOperations 20.70%us-gaap_EffectiveIncomeTaxRateContinuingOperations 17.20%us-gaap_EffectiveIncomeTaxRateContinuingOperations
[1] Includes $100 million tax expense related to the write-off of New York State tax attributes for a state law change that were offset with full valuation allowance.
[2] Primarily related to a subsidiary in Taiwan operating under tax holiday arrangements. The nature and extent of such arrangements vary, and the benefits of existing arrangements phase out in future years (through 2018). The impact of tax holidays on net income per share on a diluted basis was $0.01 in 2014, $0.02 in 2013 and $0.02 in 2012.
[3] Primarily related to research and development and other credits in the U.S.
[4] In 2013, $74 million of tax benefit increase was due to $37 million expense recorded in 2012 that was reversed in the first quarter of 2013 as a result of the retroactive application of the American Taxpayer Relief Act enacted on January 3, 2013. In 2013, the additional increase in the benefit was attributable to excess foreign tax credits realized in U.S. from a taxable intercompany loan.
[5] Equity in earnings of nonconsolidated affiliates reported in the financials net of tax. The decrease from 2012-2013 was driven by significantly lower earnings from Samsung Corning Precision Materials and from 2013-2014 the change of Samsung Corning Precision Materials from an equity company to a consolidated entity.
[6] $177 million tax expense related to change in judgment on the realizability of Germany and Japan deferred tax assets is partially offset with benefit from state deferred tax asset valuation allowance reductions, including the valuation allowance relating to the New York State attribute reduction discussed in (8) below.
[7] Primarily related to change in judgment on the realizability of Australia and certain state deferred tax assets.
[8] Includes in 2014, $9 million benefit for domestic manufacturing deduction and $46 million of tax expense related to out of period transfer pricing adjustments. The impact of these corrections is not material to any individual period previously presented.