Frontier Communications 2012 Annual Report Download - page 87

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The components of the net deferred income tax liability (asset) at December 31 are as follows:
($ in thousands) 2012 2011
Deferred income tax liabilities:
Property, plant and equipment basis differences ..................... $1,959,028 $1,896,666
Intangibles ........................................................ 929,749 997,455
Other, net ......................................................... 29,564 17,584
2,918,341 2,911,705
Deferred income tax assets:
Pension liability . .................................................. 306,421 246,714
Tax operating loss carryforward .................................... 154,892 294,171
Employee benefits ................................................. 177,464 154,711
State tax liability .................................................. 7,422 7,358
Accrued expenses.................................................. 43,162 27,645
Allowance for doubtful accounts.................................... 35,181 42,733
Other, net ......................................................... 14,025 22,313
738,567 795,645
Less: Valuation allowance ....................................... (78,784) (108,662)
Net deferred income tax asset ...................................... 659,783 686,983
Net deferred income tax liability . ................................ $2,258,558 $2,224,722
Deferred tax assets and liabilities are reflected in the following
captions on the consolidated balance sheet:
Deferred income taxes ............................................. $2,357,210 $2,458,018
Income taxes and other current assets............................... (98,652) (233,296)
Net deferred income tax liability . ................................ $2,258,558 $2,224,722
Our federal net operating loss carryforward as of December 31, 2012 is estimated as $145.0 million and
our state tax operating loss carryforward as of December 31, 2012 is estimated at $1.9 billion. A portion of our
state loss carryforward begins to expire in 2013 through 2032.
F-26
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements