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Income taxes (Tables)

12 Months Ended

Dec. 25, 2011

Provision (Benefit) for Income Taxes on Income from Continuing Operations

The provision (benefit) for income taxes on income from continuing operations consists of the following:

			September 30,				September 30,				September 30,
In thousands of dollars 2011		Current				Deferred				Total
Federal		$	81,500			$	74,600			$	156,100
State and other			(800	)			30,100				29,300
Foreign			(25,400	)			(7,200	)			(32,600	)
Total		$	55,300			$	97,500			$	152,800
In thousands of dollars 2010		Current				Deferred				Total
Federal		$	135,442			$	129,829			$	265,271
State and other			(51,252	)			19,150				(32,102	)
Foreign			9,460				1,384				10,844
Total		$	93,650			$	150,363			$	244,013
In thousands of dollars 2009		Current				Deferred				Total
Federal		$	90,374			$	53,153			$	143,527
State and other			23,846				9,920				33,766
Foreign			22,895				(8,860	)			14,035
Total		$	137,115			$	54,213			$	191,328

Components of Income (Loss) from Continuing Operations Attributable to Gannett Co., Inc. Before Income Taxes

The components of income from continuing operations attributable to Gannett Co., Inc. before income taxes consist of the following:

			September 30,				September 30,				September 30,
In thousands of dollars		2011				2010				2009
Domestic		$	530,660			$	729,485			$	484,316
Foreign			80,888				81,856				58,492
Total		$	611,548			$	811,341			$	542,808

Reconciliation of Effective Tax Rate

The provision for income taxes on continuing operations varies from the U.S. federal statutory tax rate as a result of the following differences:

			September 30,				September 30,				September 30,
Fiscal year		2011				2010				2009
U.S. statutory tax rate			35.0	%			35.0	%			35.0	%
Increase (decrease) in taxes resulting from:
Asset impairments			—				0.6				1.4
State/other income taxes net of federal income tax			3.0				3.5				3.5
Statutory rate differential and permanent differences in earnings in foreign jurisdictions			(5.4	)			(2.7	)			(3.3	)
Foreign audit settlements			(4.2	)			—				—
Permanent stock basis deductions			(1.8	)			—				—
Lapse of state statutes of limitations net of federal income tax			(1.6	)			(7.2	)			(0.7	)
Other, net			—				0.9				(0.7	)
Effective tax rate			25.0	%			30.1	%			35.2	%

Deferred Tax Liabilities and Assets

Deferred tax liabilities and assets were composed of the following at the end of 2011 and 2010:

			September 30,				September 30,
In thousands of dollars		Dec. 25, 2011				Dec. 26, 2010
Liabilities
Accelerated depreciation		$	295,391			$	309,477
Accelerated amortization of deductible intangibles			121,679				59,709
Other			29,890				27,600
Total deferred tax liabilities			446,960				396,786
Assets
Accrued compensation costs			97,532				98,005
Pension			346,000				239,120
Postretirement medical and life			71,674				75,607
Federal tax benefits of uncertain state tax positions			43,631				46,856
Partnership investments including impairments			52,344				65,874
Other			67,200				62,963
Total deferred tax assets			678,381				588,425
Total net deferred tax assets			231,421				191,639
Net current deferred tax assets			22,771				21,254
Net long-term deferred tax assets		$	208,650			$	170,385

Summary of Activity Related to Unrecognized Tax Benefits, Excluding Federal Tax Benefit of State Tax Deductions

The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state tax deductions:

			September 30,				September 30,
In thousands of dollars Change in unrecognized tax benefits		Dec. 25, 2011				Dec. 26, 2010
Balance at beginning of year		$	153,531			$	191,715
Additions based on tax positions related to the current year			10,958				20,234
Additions for tax positions of prior years			17,009				24,015
Reductions for tax positions of prior years			(44,155	)			(37,869	)
Settlements			(15,618	)			(3,307	)
Reductions due to lapse of statutes of limitations			(11,443	)			(41,257	)
Balance at end of year		$	110,282			$	153,531

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 48

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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