AFFILIATED COMPUTER SERVICES, INC. AND SUBSIDIARIES 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 
At June 30, 2003, we have approximately $520.9 million available for use under the $875 million revolving credit agreement 
after considering outstanding letters of credit of $176.4 million. We use letters of credit to secure certain contractual 
performance and other obligations.  
8.  Income Taxes  
Income tax expense (benefit) is comprised of the following (in thousands): 
Year ended June 30, 
  
2003 
  
2002 
  
2001 
Current: 
    U.S. Federal 
$  71,420 
$  74,112 
  $50,022    
    State 
8,334 
8,934 
6,131 
    Foreign 
3,500  
2,727  
1,689 
Total current expense 
  83,254  
85,773  
57,842 
Deferred: 
    U.S. Federal 
  92,182 
  42,150 
  27,417 
    State 
9,517 
2,937 
1,485 
    Foreign 
(848) 
                 24 
         Total deferred expense 
  100,851  
45,087  
28,926 
        Total income tax expense 
$ 184,105 $ 
130,860  
$86,768 
Deferred tax assets (liabilities) consist of the following (in thousands): 
                                                                                                                                                             June 30, 
 2003   
2002 
Deferred tax assets: 
    Accrued expenses not yet deductible for tax purposes 
$  15,825 
$ 
7,117 
    Unearned revenue 
5,626 
4,481 
    Loss carryforwards 
2,198 
2,428 
    Divestiture related accruals 
1,017 
4,356 
    Other 
              
         873 
Subtotal  
   24,666 
 19,255 
    Deferred tax assets valuation allowance                                                              
(83) 
          (105) 
             Total deferred tax assets  
   24,583  
19,150 
Deferred tax liabilities: 
  Goodwill amortization 
(120,023) 
     (72,665)    
Depreciation and other amortization 
  (64,605) 
     (34,001) 
    Unbilled revenue 
  (31,832) 
        (9,301)   
    Prepaid and receivables 
   (7,512) 
        (5,921) 
    Other 
 (3,149) 
                       
           Total deferred tax liabilities 
(227,121)   
    (121,888) 
Net deferred tax liabilities 
$(202,538) 
$  (102,738) 
47




  

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