Redbox 2013 Annual Report Download - page 85
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76
Unrecognized Tax Benefits
The aggregate changes in the balance of unrecognized tax benefits were as follows:
Dollars in thousands
Years ended December 31,
2013 2012 2011
Balance, beginning of the year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,383 $ 2,455 $ 1,821
Additions based on tax positions related to the current year . . . . . . 824 — 315
Additions for tax positions related to prior years . . . . . . . . . . . . . . . 18 251 420
Reductions for tax positions related to prior years . . . . . . . . . . . . . . (257)(71)—
Reductions from lapse of applicable statute of limitations . . . . . . . . (49)(252)—
Settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (138)—
(101)
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,781 $ 2,383 $ 2,455
At December 31, 2013, the unrecognized tax benefits were primarily related to R&D credit and income/expense recognition, all
of which would have an effect on our effective tax rate if recognized. It was not necessary to accrue interest and penalties
associated with the uncertain tax positions identified because operating loss carryforwards, tax credit carryforwards, and
income tax payments on account were sufficient to offset all unrecognized tax benefits.
Tax Years Open for Examination
As of December 31, 2013 for our major tax jurisdictions, the years 2010 through 2012 were open for examination by U.S.
Federal and most state tax authorities. Additionally, the years 1998 through 2009 are subject to examination, to the extent that
net operating loss and income tax credit carryforwards from those years were utilized in 2010 and later years.
Jurisdiction
As of December 31, 2013
Open Tax Years
U.S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1998 through 2012
Deferred Income Taxes
Deferred income tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts of
assets and liabilities for financial reporting purposes and the carrying amounts used for income tax purposes. Future tax
benefits for net operating loss and tax credit carryforwards are also recognized to the extent that realization of such benefits is
more likely than not.
In determining our tax provisions, management determined the deferred tax assets and liabilities for each separate tax
jurisdiction and considered a number of factors including the positive and negative evidence regarding the realization of our
deferred tax assets to determine whether a valuation allowance should be recognized with respect to our deferred tax assets.