Nautilus 2009 Annual Report Download - page 53

Table of Contents
Income tax (benefit) provision from continuing operations consisted of the following:
The tax effect of deferred tax assets and liabilities arising from temporary differences and carry-forwards are as follows:
49
(In thousands)
2009
2008
Current:
U.S. federal
$
(12,153
)
$
(10,694
)
U.S. state
(123
)
(392
)
Non
-
U.S.
341
373
Total current
(11,935
)
(10,713
)
Deferred:
U.S. federal
397
3,429
U.S. state
403
1,410
Non
-
U.S
255
(44
)
Total deferred
1,055
4,795
$
(10,880
)
$
(5,918
)
December 31,
(In thousands)
2009
2008
Deferred tax assets:
Accrued liabilities
$
4,762
$
8,409
Allowance for doubtful accounts
119
1,424
Inventory valuation
893
1,717
Uniform capitalization
249
354
Share
-
based compensation expense
929
1,373
Net operating loss carryforward
24,216
15,178
Basis difference on subsidiary held for sale
1,951
5,163
Capital loss carryforward
4,319
—
Basis difference on long lived assets
13,262
1,971
Undistributed earnings of subsidiaries
—
1,872
Other
4,149
3,102
54,849
40,563
Less: Valuation Allowance
(53,712
)
(40,536
)
Total deferred tax assets
1,137
27
Deferred income tax liabilities:
Prepaid advertising
(270
)
(501
)
Other prepaids
(368
)
(787
)
Basis difference on long
-
lived assets
(1,860
)
Undistributed earnings of foreign subsidiaries
(113
)
—
Total deferred tax liabilities
(2,611
)
(1,288
)
Net deferred tax liability
$
(1,474
)
$
(1,261
)