Taxes On Income From Continuing Operations

3 Months Ended

Apr. 01, 2012

Taxes On Income From Continuing Operations [Abstract]

Taxes On Income From Continuing Operations

Note 10 — Taxes on income from continuing operations


	Three Months Ended
	April 1, 2012			March 27, 2011
Effective income tax rate		1.4	%		25.8	%

The effective income tax rate for the three months ended April 1, 2012 was 1.4% compared to 25.8% for the three months ended March 27, 2011. The Company recorded a $332 million goodwill impairment charge in the quarter for which only $45 million of the goodwill was tax deductible. Accordingly, the principal driver for the lower tax rate for the three months ended April 1, 2012 is the Company's inability to realize the full benefit of this charge. In addition, the three months ended March 27, 2011 reflects a beneficial discrete charge for losses on extinguishments of debt during the first quarter of 2011.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details