Nautilus 2005 Annual Report Download - page 58

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Table of Contents
The provision for income taxes consists of the following for the three years ended December 31, 2005:
The components of the net deferred tax liability at December 31, 2005 and 2004 are as follows:
Deferred taxes are presented in the consolidated balance sheet at December 31, 2005 and 2004 as follows:
57
2005
2004
2003
Current:
Federal
$
11,118
$
13,495
$
18,996
State
849
861
731
Foreign
763
446
287
Total current
12,730
14,802
20,014
Deferred:
Federal
(229
)
884
(582
)
State
361
48
(36
)
Foreign
(569
)
(72
)
(45
)
Total deferred
(437
)
860
(663
)
Total provision
$
12,293
$
15,662
$
19,351
2005
2004
Assets:
Accrued liabilities
$
6,713
$
5,363
Allowance for doubtful accounts
677
637
Inventory valuation
990
614
Uniform capitalization
441
349
Net operating loss carryforward
123
—
Other
686
117
9,630
7,080
Liabilities:
Prepaid advertising
(984
)
(617
)
Other prepaids
(850
)
(1,175
)
Basis difference on long
-
lived assets
(16,990
)
(11,080
)
Undistributed earnings of foreign subsidiaries
(561
)
(628
)
(19,385
)
(13,500
)
Net deferred tax liability
$
(9,755
)
$
(6,420
)
2005
2004
Current deferred tax asset
$
7,235
$
4,661
Noncurrent deferred tax liabilities
(16,990
)
(11,081
)
Net deferred tax liability
$
(9,755
)
$
(6,420
)