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              [html]<thead><tr><tdrowspan="2">Years ended December 31</td><tdcolspan="3">( In millions of dollars, except tax rate )</td></tr><tr><td>2013</td><tdcolspan="2">2012</td></tr></thead><tbody><tr><td>Statutory income tax rate</td><td>26.5 %</td><tdcolspan="2">26.4 %</td></tr><tr><td>Income before income taxes</td><td>$ 2.265</td><tdcolspan="2">$ 2.345</td></tr><tr><td>Computed income tax expense using statutory</td><td>income tax rate</td><tdcolspan="2">600</td></tr><tr><td>619</td><td>Revaluation of deferred tax balances due to legislative</td><tdcolspan="2">changes</td></tr><tr><td>8</td><td>54</td><tdcolspan="2">Non - taxable portion of capital gains</td></tr><tr><td>( 9 )</td><td>( 61 )</td><tdcolspan="2">Recognition of previously unrecognized deferred tax</td></tr><tr><td>assets</td><td>( 14 )</td><tdcolspan="2">( 22 )</td></tr><tr><td>Impairment of goodwill and intangible assets</td><td>–</td><tdcolspan="2">11</td></tr><tr><td>Non - deductible stock - based compensation</td><td>8</td><tdcolspan="2">9</td></tr><tr><td>Other items</td><td>3</td><td>10</td><td>Income tax expense</td></tr><tr><td>$</td><td>596</td><td>$</td><td>620</td></tr><tr><td>Effective income tax rate</td><td>26.3 %</td><td>26.4 %</td><td>Cash income taxes paid</td></tr></tbody>
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