Cardinal Health 2010 Annual Report Download - page 87

During fiscal 2008, we repatriated cash of
$
307.5 million from non-U.S. subsidiaries. As a result, we
incurred taxable dividends of
$
14.4 million, nontaxable return of capital/currency gain of
$
161.3 million an
d
taxable capital gain of
$
131.8 million. The taxable capital gain amount of
$
131.8 million was fully offset with
a
p
reviously unrecognized capital loss carryforward, and foreign tax credits of
$
14.1 million were recognize
d
r
elated to the taxable dividends resulting in a net tax benefit of
$
4.1 million.
De
f
erre
di
ncome taxes ar
i
se
f
rom temporar
y diff
erences
b
etween
fi
nanc
i
a
l
report
i
n
g
an
d
tax report
i
n
gb
ase
s
of
assets an
dli
a
bili
t
i
es, an
d
operat
i
n
gl
oss an
d
tax cre
di
t carr
yf
orwar
d
s
f
or tax purposes. T
h
e components o
f
t
he
d
e
f
erre
di
ncome tax assets an
dli
a
bili
t
i
es as o
f
June 30, 2010 an
d
2009 are as
f
o
ll
ows (
i
nm
illi
ons)
:
June 30,
(
in millions
)
201
0
200
9
D
e
f
erre
di
ncome tax assets
:
R
ece
iv
a
bl
e
b
as
i
s
diff
erenc
e
.
..........................
$
4
3.5
$
41.6
A
ccrue
dli
a
bili
t
i
es
...................................
1
3
2.1 174.
2
Sh
are-
b
ase
d
compensat
i
on
............................
112.
6
11
8
.
2
L
oss an
d
tax cre
di
t carr
yf
orwar
d
s
......................
2
06
.1 2
0
2.
4
De
f
erre
d
tax assets re
l
ate
d
to uncerta
i
n tax pos
i
t
i
on
s
.......
152.7 161.
9
O
t
h
er
.............................................
11
3
.2 7
5
.
3
Tota
ld
e
f
erre
di
ncome tax assets
...................
7
60
.2 77
3
.
6
V
a
l
uat
i
on a
ll
o
w
ance
f
or
d
e
f
erre
di
ncome tax assets
............
(
182.6) (151.9)
N
et deferred income tax assets
.....................
5
77.6 621.7
D
e
f
erre
di
ncome tax
li
a
bili
t
i
es:
Inventory
b
as
i
s
diff
erence
s
............................
(8
7
8
.7
) (824
.
2)
Propert
y
-re
l
ate
d
....................................
(
156.8
)(
73.6
)
G
oo
d
w
ill
an
d
ot
h
er
i
ntan
gibl
es
........................
(
66.1
)(
368.2
)
R
e
v
enues on
l
ease contract
s
...........................
(
2.5
)(
497.1
)
U
nrem
i
tte
df
ore
ig
n earn
i
n
gs
...........................
(
142.0
)
0.0
O
t
h
er
.............................................
(
1.2
)(
3.3
)
Tota
ld
e
f
erre
di
ncome tax
li
a
bili
t
i
e
s
.................
(
1,247.3) (1,7
66
.4)
Net deferred income tax liabilities ..............
$
(
669.7)
$
(1,144.7)
De
f
erre
d
tax assets an
dli
a
bili
t
i
es
i
nt
h
e prece
di
n
g
ta
bl
e, a
f
ter nett
i
n
gby
tax
i
n
gj
ur
i
s
di
ct
i
on, are
i
nt
he
f
o
ll
ow
i
n
g
capt
i
ons
i
nt
h
e conso
lid
ate
db
a
l
ance s
h
eet at June 30, 2010 an
d
2009 (
i
nm
illi
ons)
:
June 30,
201
0
200
9
C
urrent
d
e
f
erre
d
tax asset
(
1
)
.
..............................
$
42.5
$
6.6
Non current
d
e
f
erre
d
tax asset
(
2
)
.
........................... 3.
5
1
5
.3
Di
scont
i
nue
d
operat
i
ons net
d
e
f
erre
d
tax asset (3
)
.
..............
0
.
0
24
.
8
C
urrent
d
e
f
erre
d
tax
li
a
bili
ty(4) .............................
(
6
16.8
)(
641.8
)
Non current deferred tax asset (liability) (
5
) ....................
(9
8.9
)
16.
4
D
iscontinued Operations net deferred tax liability (6
)
............
(
0.0
)(5
66.0
)
Net deferred tax liabilit
y
...............................
$
(669.7) $(1,144.7)
(1) Inc
l
u
d
e
di
n “Prepa
id
Expenses an
d
Ot
h
er.”
(
2
)
Inc
l
u
d
e
di
n “Ot
h
er Assets.”
(3) Inc
l
u
d
e
di
n “Assets
f
rom Bus
i
ness He
ld f
or Sa
l
ean
d
D
i
scont
i
nue
d
Operat
i
ons.
”
(
4
)
Inc
l
u
d
e
di
n “Ot
h
er Accrue
d
L
i
a
bili
t
i
es.
”
(
5
)
Included in “Deferred Income Taxes and Other Liabilities.
”
(6) Included in “Liabilities from Business Held for Sale and Discontinued Operations.”
61