NetFlix 2002 Annual Report Download - page 75

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Management has established a valuation allowance for the portion of deferred tax assets for which realization is uncertain. The total valuation allowance for the years ended December 31,
2001 and 2002 increased $12,713 and decreased $1,301, respectively.
As of December 31, 2002, the Company had net operating loss carry forwards for federal and California income tax purposes of approximately $88,317 and $56,985, respectively, to reduce
future income subject to
F−22