Component: (Network and Table) | |
---|---|
Network | 4110 - Disclosure - Income Taxes (Details) (http://www.atk.com/role/DisclosureIncomeTaxesDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0000866121 (http://www.sec.gov/CIK) |
Income Taxes | Period [Axis] | ||
---|---|---|---|
2011-04-01 - 2012-03-31 | 2010-04-01 - 2011-03-31 | 2009-04-01 - 2010-03-31 | |
Income Taxes | |||
Income before income taxes and noncontrolling interest | |||
Current: | |||
US | 403,204,000 | 436,026,000 | 433,428,000 |
Non-US | 3,762,000 | 2,648,000 | 1,989,000 |
Income before income taxes and noncontrolling interest | 406,966,000 | 438,674,000 | 435,417,000 |
Income tax provision | |||
Current: | |||
Federal | 128,651,000 | 95,840,000 | 152,421,000 |
State | 7,176,000 | 6,054,000 | 7,390,000 |
Non-US | 414,000 | 51,000 | |
Deferred: | |||
Federal | 7,315,000 | 25,486,000 | (7,662,000) |
State | 206,000 | (2,468,000) | 4,324,000 |
Non-US | |||
Income tax provision | 143,762,000 | 124,963,000 | 156,473,000 |
Items responsible for the differences between the federal statutory rate and ATK's effective rate | |||
Statutory federal income tax rate (as a percent) | .350 | .35 | .35 |
State income taxes, net of federal impact (as a percent) | .026 | .02 | .024 |
Domestic manufacturing deduction (as a percent) | (.026) | (.022) | (.018) |
Estimated nondeductible portion of litigation (as a percent) | .013 | ||
Research and development credit (as a percent) | (.005) | (.009) | (.006) |
Change in prior year contingent tax liabilities (as a percent) | (.002) | (.041) | .005 |
Impact of non-US operations (as a percent) | (.003) | (.002) | |
Other (as a percent) | (.002) | (.01) | .002 |
Change in valuation allowance (as a percent) | .002 | (.001) | .002 |
Income tax provision (as a percent) | .353 | .285 | .359 |
Components of deferred tax assets and liabilities | |||
Deferred tax assets | 871,228,000 | 785,786,000 | |
Deferred tax liabilities | (630,035,000) | (615,303,000) | |
Valuation allowance | (4,121,000) | ||
Net deferred income tax asset | 166,362,000 | ||
Deferred tax assets and liabilities resulted from temporary differences | |||
Other comprehensive income provision | 574,968,000 | 489,423,000 | |
Postretirement benefit obligations | 46,991,000 | 51,069,000 | |
Accruals for employee benefits | 38,159,000 | 44,242,000 | |
Other reserves | 37,950,000 | 31,638,000 | |
Other | 36,644,000 | 20,822,000 | |
Contract method of revenue recognition | 19,737,000 | (9,024,000) | |
State carryforwards | 9,564,000 | 12,609,000 | |
Inventory | 8,943,000 | 13,130,000 | |
Pension | (296,455,000) | (275,360,000) | |
Property, plant, and equipment | (98,561,000) | (82,164,000) | |
Intangible assets | (71,818,000) | (63,939,000) | |
Debt-related | (64,929,000) | (61,963,000) | |
Valuation allowance | (4,754,000) | (4,121,000) | |
Net deferred income tax asset | 236,439,000 | 166,362,000 |