Kroger 2010 Annual Report Download - page 127
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A-47
NO T E S T O CO N S O L I D A T E D FI N A N C I A L ST A T E M E N T S , CO N T I N U E D
The tax effects of significant temporary differences that comprise tax balances were as follows:
2010 2009
Current deferred tax assets:
Net operating loss and credit carryforwards.................... $ 2 $ 2
Compensation related costs ................................ 165 58
Total current deferred tax assets ......................... 167 60
Current deferred tax liabilities:
Insurance related costs ................................... (113) (119)
Inventory related costs ................................... (229) (241)
Other................................................. (45) (54)
Total current deferred tax liabilities ...................... (387) (414)
Current deferred taxes...................................... $ (220) $ (354)
Long-term deferred tax assets:
Compensation related costs ............................... $ 474 $ 487
Lease accounting........................................ 97 100
Closed store reserves .................................... 61 69
Insurance related costs .................................. 75 85
Net operating loss and credit carryforwards .................. 47 38
Other................................................. 11 3
Long-term deferred tax assets, net........................ 765 782
Long-term deferred tax liabilities:
Depreciation ........................................... (1,515) (1,337)
Other................................................. — (13)
Total long-term deferred tax liabilities..................... (1,515) (1,350)
Long-term deferred taxes.................................... $ (750) $ (568)
At January 29, 2011, the Company had net operating loss carryforwards for state income tax purposes
of $607 that expire from 2012 through 2030. The utilization of certain of the Company’s net operating loss
carryforwards may be limited in a given year.
At January 29, 2011, the Company had State credits of $24, some of which expire from 2011 through
2027. The utilization of certain of the Company’s credits may be limited in a given year.