Big Lots 2013 Annual Report Download - page 209

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Net deferred tax assets are shown separately on our consolidated balance sheets as current and non-current deferred income
taxes. The following table summarizes net deferred income tax assets from the consolidated balance sheets:
(In thousands) February 1, 2014 February 2, 2013
Current deferred income taxes $59,781 $37,696
Noncurrent deferred income taxes 5,106 (2,693)
Net deferred tax assets $64,887 $35,003
Based on the weight of currently available evidence, we have fully reduced the amount of net deferred income tax assets
(including a net operating loss carryforward) of Big Lots Canada, Inc. by a valuation allowance.
We have the following income tax loss and credit carryforwards at February 1, 2014 (amounts are shown net of tax excluding
the federal income tax effect of the state and local items):
(In thousands)
Non-U.S.:
N
et operating loss carryforwards $24,430 Expires fiscal years 2026 through 2033, subject to
a full valuation allowance
U.S. State and local:
State net operating loss carryforwards 567 Expires fiscal years 2020 through 2025
California enterprise zone credits 5,865 Expires fiscal year 2023
Texas business loss credits 268 Expires fiscal years through 2025
Total income tax loss and credit carryforwards $31,130
Income taxes payable on our consolidated balance sheets have been reduced by the tax benefits primarily associated with share-
based compensation. We receive an income tax deduction upon the exercise of non-qualified stock options, the vesting of
restricted stock, and the vesting of performance share units. Tax benefits of $0.2 million, $8.1 million, and $2.7 million in
2013, 2012, and 2011, respectively, were credited directly to shareholders' equity related to share-based compensation
deductions in excess of expense recognized for these awards.
The Company's Canadian subsidiary has an accumulated retained deficit, thus we have not provided for income taxes in the
United States on undistributed earnings.
The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for 2013, 2012, and 2011:
(In thousands) 2013 2012 2011
Unrecognized tax benefits - opening balance $16,019 $16,755 $ 27,250
Gross increases - tax positions in current year 991 838 2,179
Gross increases - tax positions in prior period 1,247 1,626 616
Gross decreases - tax positions in prior period (532)(1,928)(9,513)
Settlements (4)(382)(2,581)
Lapse of statute of limitations (949)(890)(1,196)
Foreign currency translation (122)
—
—
Unrecognized tax benefits - end of yea
r
$16,650 $16,019 $ 16,755