Albertsons 2006 Annual Report Download - page 74

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SUPERVALU INC. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Temporary differences which give rise to significant portions of the net deferred tax asset (liability) as of
February 25, 2006 and February 26, 2005 are as follows:
2006 2005
(In thousands)
Deferred tax assets:
Restructure $ 31,558 $ 25,845
Net operating loss from acquired subsidiaries 14,546 16,191
Pension liability 52,756 41,580
Other health and benefit plans 123,173 92,054
Other 7,114 13,117
Total deferred tax assets 229,147 188,787
Deferred tax liabilities:
Accelerated deductions primarily depreciation and
amortization (166,088) (218,442)
Acquired assets basis differences (72,012) (52,220)
Accelerated interest deductions (15,760) (11,293)
Other (3,025) (24,769)
Total deferred tax liabilities (256,885) (306,724)
Net deferred tax liability $ (27,738) $(117,937)
The company currently has net operating loss (NOL) carryforwards from acquired companies of $40 million
for tax purposes, which expire beginning in 2007 and continuing through 2018.
Based on management’s assessment, it is more likely than not that all of the deferred tax assets will be
realized; therefore, no valuation allowance is considered necessary.
ACCUMULATED OTHER COMPREHENSIVE LOSSES
The accumulated balances, net of income taxes, for each classification of accumulated other comprehensive
losses are as follows:
Minimum Pension
Liability Adjustment
Accumulated Other
Comprehensive Losses
(In thousands)
Balances at February 28, 2004 $ (98,732) $ (98,732)
Minimum pension liability (5,849) (5,849)
Balances at February 26, 2005 (104,581) (104,581)
Minimum pension liability (23,646) (23,646)
Balances at February 25, 2006 $(128,227) $(128,227)
F-29