Frontier Communications 2009 Annual Report Download - page 88
Download and view the complete annual report
Please find page 88 of the 2009 Frontier Communications annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
 |
 |
The components of the net deferred income tax liability (asset) at December 31 are as follows:
($ in thousands) 2009 2008
Deferred income tax liabilities:
Property, plant and equipment basis differences ......................... $666,393 $642,598
Intangibles............................................................ 292,736 248,520
Other, net ............................................................ 3,924 15,946
963,053 907,064
Deferred income tax assets:
Additional pension/OPEB liability...................................... 154,856 146,997
Tax operating loss carryforward. . ...................................... 94,284 72,434
Employee benefits .................................................... 74,226 62,482
State tax liability...................................................... 2,531 7,483
Accrued expenses ..................................................... 15,712 19,726
Bad debts. ............................................................ 9,435 12,026
Other, net ............................................................ 13,121 14,550
364,165 335,698
Less: Valuation allowance........................................... (91,537) (67,331)
Net deferred income tax asset . . . ...................................... 272,628 268,367
Net deferred income tax liability .................................... $690,425 $638,697
Deferred tax assets and liabilities are reflected in the following
captions on the consolidated balance sheet:
Deferred income taxes .............................................. $722,192 $670,489
Income taxes ....................................................... (31,767) (31,792)
Net deferred income tax liability . . . ............................. $690,425 $638,697
Our state tax operating loss carryforward as of December 31, 2009 is estimated at $1.2 billion. A portion
of our state loss carryforward begins to expire in 2010.
F-26
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements