Sears 2010 Annual Report Download - page 101
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Sears Holdings Corporation
Schedule II—Valuation and Qualifying Accounts
Years 2010, 2009 and 2008
millions
Balance at
beginning
of period
Additions
charged to
costs and
expenses (Deductions)
Balance at
end of period
Allowance for Doubtful Accounts(1):
2010 .......................................... $ 39 $ 7 $(10) $ 36
2009 .......................................... 42 4 (7) 39
2008 .......................................... 37 18 (13) 42
Allowance for Deferred Tax Assets(2):
2010 .......................................... 131 27 (5) 153
2009 .......................................... 117 18 (4) 131
2008 .......................................... 120 17 (20) 117
(1) Charges to the account are for the purposes for which the reserves were created.
(2) At the end of 2009, we had a state net operating loss (“NOL”) deferred tax asset of $212 million and a
valuation allowance of $131 million. In 2010, there was a net addition to the state NOL deferred tax asset of
$38 million, bringing the ending balance to $250 million. The additional NOLs were the result of additional
state losses incurred in 2010, netted against NOL expirations. The valuation allowance increased by $22
million, to $153 million. Additional state valuation allowances were created against the state losses incurred
in 2010 and were netted against state valuation allowances reversals due to expiring state NOLs in 2010.
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