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Income Taxes Income Taxes
3 Months Ended
Mar. 29, 2014
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
Cadence’s provision for income taxes of $5.4 million for the three months ended March 29, 2014 primarily resulted from federal, state and foreign income taxes on its anticipated fiscal 2014 income. Cadence’s foreign earnings are generally subject to lower statutory tax rates than its United States earnings. In addition, Cadence’s provision for income taxes for the three months ended March 29, 2014 does not include the potential tax benefit of the United States federal research tax credit which expired in December 2013. The expiration of the research tax credit is estimated to increase Cadence’s estimated annual effective tax rate for fiscal 2014 by 3%.
Cadence’s benefit for income taxes of $27.6 million for the three months ended March 30, 2013 primarily resulted from a tax benefit of $33.7 million from the release of an uncertain tax position, including related interest and penalties, and a $5.9 million tax benefit from the retroactive enactment of the fiscal 2012 United States federal research tax credit during the period.