EFTA Document EFTA01381343

Form S-I Table of Contents Blue Buffalo Pet Products. Inc. Notes to Consolidated Financial Statements (('ontinued) A reconciliation of the federal statutory, rate to our effective rate is as follows: Ihcember 31, 2012 for the Iran tIldtd IkltIllbfr 31. 2013 December 31, 2014 Federal statutory• income tax rate 35.fP/o 35.0% 35.0% State income taxes, net of federal income tax benefit 4.2 2.2 2.1 Non-deductible expenses 0.4 0.3 0.3 Unrecognized tax benefits - (1.0) 1.3