Kodak 2012 Annual Report Download - page 92

Table of Contents
recorded a provision of $30 million and $53 million, respectively, associated with the establishment of a valuation allowance on those deferred
tax assets.
During 2010, based on additional positive evidence regarding past earnings and projected future taxable income from operating activities, Kodak
determined that it is more likely than not that a portion of the deferred tax assets outside the U.S. would be realized and accordingly, recorded a
tax benefit of $154 million associated with the release of the valuation allowance on those deferred tax assets.
Deferred Tax Assets and Liabilities
The significant components of deferred tax assets and liabilities were as follows:
88
As of December 31,
(in millions)
2012
2011
Deferred tax assets
Pension and postretirement obligations
$
689
$
925
Allowed Claims
272
—
Restructuring programs
10
5
Foreign tax credit
577
661
Inventories
26
33
Investment tax credit
153
172
Employee deferred compensation
113
69
Depreciation
57
30
Research and development costs
308
232
Tax loss carryforwards
1,409
1,178
Other
415
406
Total deferred tax assets
$
4,029
$
3,711
Deferred tax liabilities
Leasing
$
43
$
37
Other deferred debt
11
16
Unremitted foreign earnings
417
430
Other
181
168
Total deferred tax liabilities
652
651
Net deferred tax assets before valuation allowance
3,377
3,060
Valuation allowance
2,838
2,560
Net deferred tax assets
$
539
$
500