Nautilus 2011 Annual Report Download - page 44

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Table of Contents
Net deferred income tax liability in the Company's consolidated balance sheets as of
December 31, 2011 and 2010 consisted of the following (in
thousands):
Following is a reconciliation of the U.S. statutory federal income tax rate with the Company's effective income tax rate for continuing operations
in years ended December 31, 2011 and 2010 :
38
December 31,
2011 2010
Deferred income tax assets:
Accrued liabilities
$
2,703
$
3,227
Allowance for doubtful accounts
27
13
Inventory valuation
388
408
Capitalized indirect inventory costs
183
167
Stock-based compensation expense
721
781
Net operating loss carryforward
39,777
36,933
Basis difference on assets held-for-sale
1,821
1,702
Capital loss carryforward
4,319
4,319
Basis difference on long-lived assets
8,332
10,110
Other
3,317
3,553
Total deferred income tax assets before valuation allowance
61,588
61,213
Valuation allowance
(60,328
)
(59,550
)
Total deferred income tax assets, net of valuation allowance
1,260
1,663
Deferred income tax liabilities:
Prepaid advertising
(287
)
(301
)
Other prepaids
(311
)
(366
)
Basis difference on long-lived assets
(2,409
)
(2,135
)
Undistributed earnings of foreign subsidiaries
(89
)
(34
)
Other
(288
)
(543
)
Total deferred income tax liabilities
(3,384
)
(3,379
)
Net deferred income tax liability
$
(2,124
)
$
(1,716
)
December 31,
2011 2010
Current deferred income tax assets
$
75
$
57
Current deferred income tax liabilities
(1,064
)
(1,160
)
Non-current deferred income tax assets, included in “Other assets”
299
395
Non-current deferred income tax liabilities
(1,434
)
(1,008
)
Net deferred income tax liability
$
(2,124
)
$
(1,716
)