Home Depot 2009 Annual Report Download - page 52

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The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and
deferred tax liabilities as of January 31, 2010 and February 1, 2009, were as follows (amounts in millions):
January 31,
2010 February 1,
2009
Current:
Deferred Tax Assets:
Property and equipment $85 $85
Accrued self-insurance liabilities 109 143
Other accrued liabilities 303 204
Deferred compensation 372 286
Current Deferred Tax Assets 869 718
Deferred Tax Liabilities:
Accelerated inventory deduction (114) (114)
Other (114) (118)
Current Deferred Tax Liabilities (228) (232)
Current Deferred Tax Assets, net 641 486
Noncurrent:
Deferred Tax Assets:
Accrued self-insurance liabilities 338 317
State income taxes 123 118
Capital loss carryover 86 65
Net operating losses 74 71
Foreign tax credit carry forward 65 7
Other 291 215
Valuation allowance (15) (12)
Noncurrent Deferred Tax Assets 962 781
Deferred Tax Liabilities:
Property and equipment (1,178) (1,068)
Goodwill and other intangibles (88) (78)
Noncurrent Deferred Tax Liabilities (1,266) (1,146)
Noncurrent Deferred Tax Liabilities, net (304) (365)
Net Deferred Tax Assets (Liabilities) $ 337 $ 121
Current deferred tax assets and current deferred tax liabilities are netted by tax jurisdiction and noncurrent
deferred tax assets and noncurrent deferred tax liabilities are netted by tax jurisdiction, and are included in the
accompanying Consolidated Balance Sheets as follows (amounts in millions):
January 31,
2010 February 1,
2009
Other Current Assets $ 650 $ 491
Other Assets 12 4
Other Accrued Expenses (6) (5)
Deferred Income Taxes (319) (369)
Net Deferred Tax Assets (Liabilities) $ 337 $ 121
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