Home Depot 2012 Annual Report Download - page 50

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44
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax
liabilities as of February 3, 2013 and January 29, 2012 were as follows (amounts in millions):
February 3,
2013 January 29,
2012
Assets:
Deferred compensation $ 265 $ 324
Accrued self-insurance liabilities 459 476
State income taxes 97 76
Non-deductible reserves 285 292
Capital loss carryover 104 101
Net operating losses 71 65
Impairment of investment 120 120
Other 174 185
Total Deferred Tax Assets 1,575 1,639
Valuation Allowance (27)(19)
Total Deferred Tax Assets after Valuation Allowance 1,548 1,620
Liabilities:
Inventory (92)(94)
Property and equipment (1,194)(1,192)
Goodwill and other intangibles (112)(97)
Other (128)(101)
Total Deferred Tax Liabilities (1,526)(1,484)
Net Deferred Tax Assets $ 22 $ 136
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):
February 3,
2013 January 29,
2012
Other Current Assets $ 313 $ 454
Other Assets 30 25
Other Accrued Expenses (2)(3)
Deferred Income Taxes (319)(340)
Net Deferred Tax Assets $ 22 $ 136
The Company believes that the realization of the deferred tax assets is more likely than not, based upon the expectation that it
will generate the necessary taxable income in future periods, and except for certain net operating losses discussed below, no
valuation reserves have been provided.