Netgear 2013 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2013 Netgear annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 121

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121

Table of Contents NETGEAR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
Net deferred tax assets consist of the following (in thousands):
82
Year Ended December 31,
2013
2012
2011
Current:
U.S. Federal
$
30,989
34,666
$
27,415
State
3,751
4,555
3,319
Foreign
11,224
6,097
6,760
45,964
45,318
37,494
Deferred:
U.S. Federal
(6,741
)
(2,069
)
(3,151
)
State
(1,164
)
(588
)
(713
)
Foreign
(294
)
82
(788
)
(8,199
)
(2,575
)
(4,652
)
Total
$
37,765
42,743
$
32,842
Year Ended December 31,
2013
2012
Deferred Tax Assets:
Accruals and allowances
24,488
$
20,738
Net operating loss carryforwards
7,069
7,837
Stock-based compensation
11,061
8,133
Deferred rent
1,963
2,258
Deferred revenue
1,535
1,552
Tax credit carryforwards
1,183
1,410
Acquired intangible assets
1,791
—
Other —
261
49,090
42,189
Deferred Tax Liabilities:
Acquired intangible assets —
(
1,107
)
Depreciation and amortization
(1,514
)
(1,535
)
Other
(102
)
—
(1,616
)
(2,642
)
Net deferred tax assets
47,474
39,547
Current portion
27,239
22,691
Non-current portion
20,235
16,856
Net deferred tax assets
47,474
$
39,547