Home Depot 2010 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 30, 2011 and January 31, 2010 were as follows (amounts in millions):
January 30,
2011 January 31,
2010
Current:
Deferred Tax Assets:
Property and equipment $64 $85
Accrued self-insurance liabilities 115 109
Other accrued liabilities 196 303
Deferred compensation 393 372
Current Deferred Tax Assets 768 869
Deferred Tax Liabilities:
Accelerated inventory deduction (106) (114)
Other (114) (111)
Current Deferred Tax Liabilities (220) (225)
Current Deferred Tax Assets, net 548 644
Noncurrent:
Deferred Tax Assets:
Accrued self-insurance liabilities 345 338
State income taxes 69 123
Capital loss carryover 141 86
Net operating losses 66 74
Foreign tax credit carry forward 30 65
Impairment of investment 120 114
Other 212 174
Valuation allowance (66) (15)
Noncurrent Deferred Tax Assets 917 959
Deferred Tax Liabilities:
Property and equipment (1,073) (1,178)
Goodwill and other intangibles (95) (88)
Noncurrent Deferred Tax Liabilities (1,168) (1,266)
Noncurrent Deferred Tax Liabilities, net (251) (307)
Net Deferred Tax Assets $ 297 $ 337
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 30,
2011 January 31,
2010
Other Current Assets $ 553 $ 650
Other Assets 21 12
Other Accrued Expenses (5) (6)
Deferred Income Taxes (272) (319)
Net Deferred Tax Assets $ 297 $ 337
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