Frontier Communications 2013 Annual Report Download - page 88
Download and view the complete annual report
Please find page 88 of the 2013 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
 |
 |
The components of the net deferred income tax liability (asset) at December 31 are as follows:
($ in thousands) 2013 2012
Deferred income tax liabilities:
Property, plant and equipment basis differences ..................... $1,950,720 $1,959,028
Intangibles ........................................................ 885,661 929,749
Other, net ......................................................... 25,954 29,564
$2,862,335 $2,918,341
Deferred income tax assets:
Pension liability . .................................................. 216,890 306,421
Tax operating loss carryforward .................................... 130,733 154,892
Employee benefits ................................................. 161,493 177,464
State tax liability .................................................. (642) 7,422
Accrued expenses.................................................. 26,223 43,162
Allowance for doubtful accounts.................................... 11,957 35,181
Other, net ......................................................... 42,915 14,025
589,569 738,567
Less: Valuation allowance ....................................... (112,671) (78,784)
Net deferred income tax asset ...................................... 476,898 659,783
Net deferred income tax liability . ................................ $2,385,437 $2,258,558
Deferred tax assets and liabilities are reflected in the following
captions on the consolidated balance sheet:
Deferred income taxes ............................................. $2,417,108 $2,357,210
Income taxes and other current assets............................... (31,671) (98,652)
Net deferred income tax liability . ................................ $2,385,437 $2,258,558
Our state tax operating loss carryforward as of December 31, 2013 is estimated at $2.5 billion. A portion
of our state loss carryforward begins to expire in 2014 through 2032.
F-26
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements