Albertsons 2008 Annual Report Download - page 94
Download and view the complete annual report
Please find page 94 of the 2008 Albertsons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
 |
 |
SUPERVALU INC. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Deferred income taxes reflect the net tax effects of temporary differences between the bases of assets and
liabilities for financial reporting and income tax purposes. The Company’s deferred tax assets and liabilities
consist of the following:
2008 2007
Deferred tax assets:
Compensation and benefits $ 330 $ 425
Self-insurance 278 143
Property, plant and equipment and capital leases 399 497
Capital loss carryforward 147 175
Other 210 183
Gross deferred tax assets 1,364 1,423
Valuation allowance (147) (175)
Total deferred tax assets 1,217 1,248
Deferred tax liabilities:
Property, plant and equipment and capital leases (170) (766)
Inventories (290) (248)
Debt discount (78) (78)
Intangible assets (669) (674)
Other (57) (75)
Total deferred tax liabilities (1,264) (1,841)
Net deferred tax liability $ (47) $ (593)
The Company currently has federal and state net operating loss (“NOL”) carryforwards from the Acquired
Operations of $4 and $99, respectively, for tax purposes. The NOL carryforwards expire beginning in 2011 and
continuing through 2026.
The Company records valuation allowances to reduce deferred tax assets to the amount that is more-likely-than-
not to be realized. The Company recorded a full valuation allowance against its capital loss carryforward
deferred tax asset, as realization of the deferred tax asset in future years is uncertain, and the change in the
valuation allowance is due to the change in the capital loss carryforward. The capital loss carryforward will
expire in fiscal 2011. The Company has evaluated the remaining deferred tax assets and has determined that it is
more-likely-than-not that all of the deferred tax assets will be realized.
Effective February 25, 2007, the Company adopted the provisions of FIN 48. At adoption, the Company had
$312 of unrecognized tax benefits.
F-28