Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]
的时间表Income before Income Taxes, Domestic and Foreign
The components of income before income taxes are as follows:
Year ended June 30,
(In thousands)
2014
2013
2012
Domestic income before income taxes
$
434,336

$
420,862

$
607,146

Foreign income before income taxes
300,125

269,759

366,948

Total income before income taxes
$
734,461

$
690,621

$
974,094

的时间表Components of Income Tax Expense (Benefit)
The provision for income taxes is comprised of the following:
(In thousands)
Year ended June 30,
2014
2013
2012
Current:
Federal
$
98,937

$
118,888

$
(699
)
State
8,580

4,404

51

Foreign
27,867

25,112

24,383

135,384

148,404

23,735

Deferred:
Federal
22,904

(2,552
)
188,882

State
(334
)
(1,036
)
3,721

Foreign
(6,248
)
2,656

1,741

16,322

(932
)
194,344

Provision for income taxes
$
151,706

$
147,472

$
218,079

的时间表Deferred Tax Assets and Liabilities
The significant components of deferred income tax assets and liabilities are as follows:
(In thousands)
As of June 30,
2014
2013
Deferred tax assets:
Tax credits and net operating losses
$
95,492

$
77,512

Employee benefits accrual
97,308

83,391

Stock-based compensation
17,676

37,091

Capitalized R&D expenses
12,051

34,791

Inventory reserves
83,783

79,866

Non-deductible reserves
41,469

42,256

Depreciation and amortization
2,572

—

Unearned revenue
13,937

12,010

Other
29,483

25,454

Gross deferred tax assets
393,771

392,371

Valuation allowance
(76,328
)
(57097
)
Net deferred tax assets
$
317,443

$
335,274

Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries not permanently reinvested
$
(17,334
)
$
(20,636
)
Depreciation and amortization
—

(1,863
)
Deferred profit
(16,358
)
(10,351
)
Unrealized gain on investments
(1,168
)
(572
)
Total deferred tax liabilities
(34,860
)
(33,422
)
Total net deferred tax assets
$
282,583

$
301,852

的时间表Effective Income Tax Rate Reconciliation
The reconciliation of the United States federal statutory income tax rate to KLA-Tencor’s effective income tax rate is as follows:
Year ended June 30,
2014
2013
2012
Federal statutory rate
35.0
%
35.0
%
35.0
%
State income taxes, net of federal benefit
0.7
%
0.3
%
0.4
%
Effect of foreign operations taxed at various rates
(11.5
)%
(9.6
)%
(9.9
)%
Research and development tax credit
(1.5
)%
(3.1
)%
(1.1
)%
Net change in tax reserves
0.3
%
1.7
%
(2.8
)%
Domestic manufacturing benefit
(1.4
)%
(1.6
)%
(0.7
)%
Effect of stock-based compensation
0.4
%
(0.3
)%
1.3
%
Other
(1.3
)%
(1.0
)%
0.2
%
Effective income tax rate
20.7
%
21.4
%
22.4
%
Summary of Income Tax Contingencies
A reconciliation of gross unrecognized tax benefits is as follows:
Year ended June 30,
(In thousands)
2014
2013
2012
Unrecognized tax benefits at the beginning of the period
$
59,494

$
50,839

$
78,337

Increases for tax positions taken in prior years
551

2,701

4,172

Decreases for tax positions taken in prior years
(764
)
(905
)
(1,002
)
Increases for tax positions taken in current year
11585年

12,709

15,663

Decreases for settlements with taxing authorities
(3,601
)
(3,907
)
(43,464
)
Decreases for lapsing of statutes of limitations
(7,690
)
(1,943
)
(2,867
)
Unrecognized tax benefits at the end of the period
$
59,575

$
59,494

$
50,839

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