Oracle 2010 Annual Report Download - page 236

Deferred Tax Assets and Liabilities May 31,
(in millions) 2011 2010
Deferred tax liabilities:
Unrealized gain on stock $(130) $(130)
Acquired intangible assets (1,816) (2,128)
Other (44) (101)
Total deferred tax liabilities $(1,990) $(2,359)
Deferred tax assets:
Accruals and allowances $543 $629
Employee compensation and benefits 742 649
Differences in timing of revenue recognition 305 67
Depreciation and amortization 483 357
Tax credit and net operating loss carryforwards 2,675 2,916
Other 119 250
Total deferred tax assets $4,867 $4,868
Valuation allowance $(772) $(649)
Net deferred tax assets $2,105 $1,860
Recorded as:
Current deferred tax assets $1,189 $1,159
Non-current deferred tax assets 1,076 1,267
Current deferred tax liabilities (in other current
liabilities)
(101) (142)
Non-current deferred tax liabilities (59) (424)
Net deferred tax assets $2,105 $1,860
Unrecognized Tax Benefits Year Ended May
31,
(in millions) 2011 2010 2009
Gross unrecognized tax benefits as of June 1 $2,527$2,262 $1,693
Increases related to tax positions from prior fiscal
years
128 94 434
Decreases related to tax positions from prior fiscal
years
(102) (491) (86)
Increases related to tax positions taken during
current fiscal year
639 813 370
Settlements with tax authorities (23) (88) (41)
Lapses of statutes of limitation (53) (48) (25)
Other, net 44 (15) (83)
Total gross unrecognized tax benefits as of May 31 $3,160$2,527 $2,262
Source: ORACLE CORP, 10-K, June 28, 2011 Powered by Morningstar® Document Research℠