Clearwire 2008 Annual Report Download - page 111

C
omponents o
fd
e
f
erre
d
tax assets an
dli
a
bili
t
i
es as o
f
Decem
b
er 31, 2008 an
d
2007 were as
f
o
ll
ows (
i
n
th
ousan
d
s
):
2008 200
7
December
31,
N
oncurrent deferred tax assets
:
Net operatin
g
loss carr
y
forward ............................... $590,767 $118,95
0
C
apital loss carr
y
forward
....................................
6
,187 —
T
ax cre
di
t carr
yf
orwar
d
..................................... —
63
7
O
t
h
er assets
..............................................
3
,
519 —
T
ota
ld
e
f
erre
d
tax asset
s
.
......................................
6
00
,
473 119
,
587
V
aluation allowance
.
.........................................
(
349,001
)(
98,697
)
N
et deferred tax asset
s
........................................
2
5
1,472 20,89
0
N
oncurrent deferred tax liabilities
:
In
v
estment
i
n
Cl
ear
wi
re
C
ommun
i
cat
i
ons LL
C
....................
221
,
3
7
3—
S
pectrum asset
s
...........................................
1
4
,
943 679
,
222
O
ther intangibles ..........................................
1
9
,
113 —
P
ropert
y
, equipment and other lon
g
-term assets
....................
—
15
,
5
6
5
R
esearch and ex
p
erimentation ex
p
enses
.
......................... —
4,
559
O
the
r
................................................... 207 7
66
T
ota
ld
e
f
erre
d
tax
li
a
bili
t
i
es
....................................
255
,
636 700
,
112
Net
d
e
f
erre
d
tax
li
a
bili
t
i
es
.
....................................
$
4
,
164
$
679
,
222
P
ursuant to t
h
e Transact
i
ons, t
h
e assets o
f
O
ld
C
l
earw
i
re an
di
ts su
b
s
idi
ar
i
es were com
bi
ne
d
w
i
t
h
t
h
es
p
ectrum
a
n
d
certa
i
not
h
er assets o
f
t
h
e Spr
i
nt W
i
MAX Bus
i
ness. In con
j
unct
i
on w
i
t
h
t
h
e acqu
i
s
i
t
i
on o
f
O
ld
C
l
earw
i
re
by
t
he
Sprint WiMAX Business, these assets along with the
$
3.2 billion of capital from the Investors were contributed t
o
Cl
earw
i
re Commun
i
cat
i
ons. C
l
earw
i
re
i
st
h
eso
l
e
h
o
ld
er o
f
vot
i
n
gi
nterests
i
nC
l
earw
i
re Commun
i
cat
i
ons. As suc
h,
Cl
earw
i
re contro
l
s 100% o
f
t
h
e
d
ec
i
s
i
on ma
ki
n
g
o
f
C
l
earw
i
re Commun
i
cat
i
ons an
d
conso
lid
ates 100% o
fi
ts
op
erations. Clearwire Communications is treated as a
p
artnershi
p
for U.S. federal income tax
p
ur
p
oses and
th
ere
f
ore
d
oes not pay
i
ncome tax
i
nt
h
e U.S. an
d
any current an
dd
e
f
erre
d
tax consequences ar
i
se at t
h
e partner
l
eve
l
,
i
nc
l
u
di
n
g
C
l
earw
i
re. Ot
h
er t
h
an
b
a
l
ances assoc
i
ate
d
w
i
t
h
t
h
e non-U.S. operat
i
ons, t
h
eon
ly
temporar
y
d
ifference for Clearwire after the Closin
g
is the basis difference associated with our investment in the partnership.
C
onsequent
l
y, we recor
d
e
d
a
d
e
f
erre
d
tax
li
a
bili
ty
f
or t
h
e
diff
erence
b
etween t
h
e
fi
nanc
i
a
l
statement carry
i
ng va
l
u
e
a
n
d
t
h
e tax
b
as
i
s
w
e
h
o
ld i
n our
i
nterest
i
n
Cl
ear
wi
re
C
ommun
i
cat
i
ons as o
f
t
h
e
d
ate o
f
t
h
e Transact
i
ons.
A
s of December 31, 2008, we had U.S federal tax net operating loss carryforwards of approximatel
y
$
1.3 billion. A portion of the net operatin
g
loss carr
y
forward is sub
j
ect to certain annual limitations impose
d
under Section 382 of the Internal Revenue Code of 1986. The net operatin
g
loss carr
y
forwards be
g
in to expire i
n
2
021. We had
$
328.2 million of tax net operating loss carryforwards in foreign jurisdictions as of December 31
,
2
008. Of the
$
328.2 million of tax net operating loss carryforwards in foreign jurisdictions,
$
195.4 million have no
statutor
y
expiration dates, $111.8 million be
g
ins to expire in 2015, and the remainder of $21.0 million be
g
ins t
o
exp
i
re
i
n 2010
.
W
e have recorded a valuation allowance a
g
ainst our deferred tax assets to the extent that we determined that it
is more likely than not that these items will either expire before we are able to realize their benefits or that futur
e
d
e
d
uct
ibili
ty
i
s uncerta
i
n. As
i
tre
l
ates to t
h
e U.S. tax
j
ur
i
s
di
ct
i
on, we
d
eterm
i
ne
d
t
h
at our temporary taxa
ble
99
C
LEARWIRE
CO
RP
O
RATI
O
N AND
SU
B
S
IDIARIE
S
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued
)