Assurant 2011 Annual Report Download - page 106

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ASSURANT, INC.2011 Form10-KF-30
9 Property and Equipment
of undistributed earnings for which the Company has not provided
deferred income taxes is $138,248. Upon distribution of such earnings
in a taxable event, the Company would incur additional U.S. income
taxes of $33,339 net of anticipated foreign tax credits.
At December31, 2011, the Company and its subsidiaries had net
operating loss carryforwards for U.S. federal and foreign income tax
purposes. Net operating loss carryforwards total $52,674 and will
expire if unused as follows:
Expiration Year Amount
2012 $9
2013 409
2014 794
2015 986
2016 1,018
2017 237
2018 755
2019 676
2020 750
2021 1,094
2022 432
2023 627
2024 644
2025 771
2026 767
Unlimited 42,705
$ 52,674
As of December31, 2011, the Company and its subsidiaries do not have any remaining capital loss carryovers.  e Company generated su cient
taxable income of the appropriate character during the year to utilize all capital loss carryovers.
8. Deferred Acquisition Costs
Information about deferred acquisition costs is as follows:
December31,
2011 2010 2009
Beginning balance $ 2,493,422 $ 2,504,654 $ 2,650,672
Costs deferred and other (1) 1,576,720 1,497,480 1,441,972
Amortization (1,437,422) (1,508,712) (1,587,990)
ENDING BALANCE $ 2,632,720 $ 2,493,422 $ 2,504,654
(1) Includes foreign currency translation
Refer to Note 2, Recent Accounting Pronouncements – Not Yet Adopted, for more information on amendments to existing accounting guidance.
9. Property and Equipment
Property and equipment consists of the following:
As of December31,
2011 2010
Land $ 14,359 $ 14,359
Buildings and improvements 222,327 215,452
Furniture,  xtures and equipment 475,462 474,881
Total 712,148 704,692
Less accumulated depreciation (469,240) (437,523)
TOTAL $ 242,908 $ 267,169
Depreciation expense for 2011, 2010 and 2009 amounted to $55,193, $59,017 and $61,772, respectively. Depreciation expense is included in
underwriting, general and administrative expenses in the consolidated statements of operations.