PACCAR 2011 Annual Report Download - page 72

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The balance sheet classification of the Company’s deferred tax assets and liabilities are as follows:
At December 31, 2011 2010
Truck and Other:
Other current assets $ 126.0 $ 98.8
Other noncurrent assets, net 126.3 79.2
Accounts payable, accrued expenses and other (1.0)
Other liabilities (41.0) (26.7)
Financial Services:
Other assets 55.1 48.9
Deferred taxes and other liabilities (730.7) (529.5)
Net deferred tax liability $ (465.3) $ (329.3)
Cash paid for income taxes was $284.0, $82.9 and $67.3 in 2011, 2010 and 2009, respectively.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
2011 2010 2009
Balance at January 1 $ 43.1 $ 37.0 $ 33.0
Additions based on tax positions and settlements
related to the current year 5.4 2.5 1.1
Additions based on tax positions and settlements
related to the prior year 1.1 23.5 11.5
Reductions for tax positions of prior years (30.6) (10.7) (7.2)
Lapse of statute of limitations (.7) (9.2) (1.4)
Balance at December 31 $ 18.3 $ 43.1 $ 37.0
The Company had $16.3 and $40.6 of related assets at December 31, 2011 and 2010. All of the unrecognized tax
benefits and related assets would impact the effective tax rate if recognized.
The Company recognized $1.7 of income related to interest and penalties in 2011. Accrued interest expense and
penalties were $5.7 and $7.8 at December 31, 2011 and 2010, respectively.
The Company does not anticipate that there will be a material increase or decrease in the total amount of
unrecognized tax benefits in the next twelve months. As of December 31, 2011, the United States Internal Revenue
Service has completed examinations of the Company’s tax returns for all years through 2008. The Company’s tax
returns for other major jurisdictions remain subject to examination for the years ranging from 2004 through 2011.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2011, 2010 and 2009 (currencies in millions)