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INCOME TAXES | 9 Months Ended
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Jun. 30, 2012
INCOME TAXES |
INCOME TAXES |
8. INCOME TAXES The components of (loss) earnings before income taxes, after adjusting (loss) earnings for non-controlling interests, are as follows:
|  | Three months ended |  |  |  | Nine months ended |
|  | June 30, |  |  |  | June 30, |
|  | 2012 |  |  |  | 2011 |  |  |  | 2012 |  |  |  | 2011 |
Canada |  | $ | (689,000 | ) |  |  | $ | 1,595,000 |  |  |  | $ | 837,000 |  |  |  | $ | 4,600,000 |
United States |  | (939,000 | ) |  |  | (393,000 | ) |  |  | (5,241,000 | ) |  |  | (2,897,000 | )
|  | $ | (1,628,000 | ) |  |  | $ | 1,202,000 |  |  |  | $ | (4,404,000 | ) |  |  | $ | 1,703,000 |
The components of the income tax (benefit) provision are as follows:
|  | Three months ended |  |  |  | Nine months ended |
|  | June 30, |  |  |  | June 30, |
|  | 2012 |  |  |  | 2011 |  |  |  | 2012 |  |  |  | 2011 |
Current |  | $ | (420,000 | ) |  |  | $ | 43,000 |  |  |  | $ | 243,000 |  |  |  | $ | 727,000 |
Deferred |  | 158,000 |  |  |  | 357,000 |  |  |  | (18,000 | ) |  |  | 552,000 |
|  | $ | (262,000 | ) |  |  | $ | 400,000 |  |  |  | $ | 225,000 |  |  |  | $ | 1,279,000 |
Barnwell’s effective consolidated income tax rate for the three and nine months ended June 30, 2012, after adjusting (loss) earnings before income taxes for non-controlling interests, was 16% and (5%), respectively, as compared to 33% and 75% for the three and nine months ended June 30, 2011, respectively. Consolidated taxes do not bear a customary relationship to pretax (losses) earnings due mainly to the fact that Canadian income taxes are not sheltered by current period U.S. source losses, Canadian income taxes are not estimated to have a current or future benefit as foreign tax credits or deductions for U.S. tax purposes, and U.S. consolidated net operating loss carryovers generated in the current year periods are not estimated to have any future U.S. tax benefit prior to expiration. In addition, included in the income tax (benefit) provision for the three and nine months ended June 30, 2012 is a $93,000 benefit and included in the income tax provision for the three and nine months ended June 30, 2011 are $116,000 and $265,000 benefits, respectively, from the lapsing of the statute of limitations for uncertain tax positions related to Canadian income taxes.

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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 Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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. 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=6881521&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 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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. Reference 6: 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 7: 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 8: 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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