v2.4.0.8

Income taxes | 9 Months Ended
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Sep. 30, 2013
Income taxes |
Income taxes | 8. Income taxes Income tax benefit from continuing operations for the nine months ended September 30, 2013 was $1.9 million. The difference between the actual tax benefit of $1.9 million and the expected income tax benefit of $7.0 million, based on the Canadian enacted statutory rate of 25%, is primarily due to a goodwill impairment of $13.7 million, a $4.5 million increase in the valuation allowance, $6.2 million in dividend withholding and preferred share taxes, and $5.2 million of changes in estimates at joint venture projects. This is partially offset by $19.4 million related to 1603 Treasury grant proceeds, $3.9 million of foreign exchange, and $1.0 million of other permanent differences.
|  | Three months ended September 30, |  | Nine months ended September 30, |
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|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Current income tax expense |  | $ | 5.4 |  | $ | 1.9 |  | $ | 10.8 |  | $ | 6.1 |
Deferred tax (benefit) expense |  |  | (5.4 | ) |  | 1.2 |  |  | (12.7 | ) |  | (25.2 | )
Total income tax (benefit) expense |  | $ | — |  | $ | 3.1 |  | $ | (1.9 | ) | $ | (19.1 | )
As of September 30, 2013, we have recorded a valuation allowance of $122.0 million. The amount is comprised primarily of provisions against Canadian and U.S. net operating loss carryforwards. In assessing the recoverability of our deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon projected future taxable income in the United States and in Canada and available tax planning strategies.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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