Mitsubishi 2007 Annual Report Download - page 77

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75
Notes to Consolidated Financial Statements
The significant components of deferred tax assets and liabilities as of March 31, 2007 and 2006 consisted of
the following:
In thousands of
In millions of yen U.S. dollars
2007 2006 2007
Deferred tax assets:
Net operating loss carry forward ¥ 205,940 ¥ 183,201 $ 1,744,523
Accrued retirement benefits 46,029 45,561 389,914
Allowance for doubtful accounts 11,294 25,264 95,675
Allowance for product warranties 19,815 18,583 167,860
Accounts payable — warranties 12,342 14,359 104,548
Fixed assets (incl. impairment losses) 39,686 42,799 336,186
Others 74,702 77,861 632,804
Less valuation allowance (362,074) (351,425) (3,067,125)
Total deferred tax assets 47,738 56,205 404,388
Deferred tax liabilities:
Reserves under the Special Taxation Measures Law (412) (436) (3,491)
Unrealized holding gain on securities (6,797) (6,022) (57,577)
Fair value adjustments relating to land (5,047) (6,149) (42,760)
Accelerated depreciation in overseas consolidated subsidiaries (34,637) (41,627) (293,410)
Other (16,242) (11,685) (137,586)
Total deferred tax liabilities (63,136) (65,921) (534,826)
Net deferred tax assets ¥ (15,398) ¥ (9,716) $ (130,437)
Deferred tax assets and liabilities at March 31, 2007 and 2006 are included in the accompanying consolidated
balance sheets as follows:
In thousands of
In millions of yen U.S. dollars
2007 2006 2007
Current assets ¥ 846 ¥ 1,206 $ 7,167
Investments and other assets 8,468 7,413 71,739
Current liabilities (453) (86) (3,843)
Non-current liabilities (24,259) (18,251) (205,500)
Net deferred tax assets ¥(15,398) ¥ (9,716) $(130,437)