Nintendo 2009 Annual Report Download - page 43

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39
Year ended March 31, 2009
Significant components of deferred tax assets and liabilities as of March 31, 2009 and 2008 were summarized as follows:
Note 13. Income Taxes
Deferred tax assets:
Inventory - write-downs and
elimination of unrealized profit
Research and development costs
Other accounts payable and accrued expenses
Loss on valuation of investment securities
Accrued enterprise tax
Provision for retirement benefits
Land
Accumulated depreciation expenses
Other
Gross deferred tax assets
Valuation allowance
Total deferred tax assets
Deferred tax liabilities:
Undistributed retained earnings
of subsidiaries and affiliates
Valuation difference on
available-for-sale securities
Other
Total deferred tax liabilities
Net deferred tax assets
As of March 31,
¥18,260
15,777
16,852
5,502
6,862
1,707
2,210
1,285
10,285
78,741
(530)
78,211
(11,702)
(3,702)
(1,233)
(16,637)
¥61,573
¥20,530
18,976
13,854
6,592
5,952
3,967
2,210
1,307
10,949
84,341
(67)
84,273
(5,967)
(2,118)
(2,931)
(11,016)
¥73,257
$209,496
193,636
141,367
67,267
60,741
40,488
22,553
13,342
111,732
860,626
(687)
859,938
(60,888)
(21,616)
(29,909)
(112,413)
$747,524
Reconciliation of the statutory tax rate and the effective tax rate for the year ended March 31, 2009 was as follows:
Reconciliation of the statutory tax rate and the effective tax rate for the year ended March 31, 2008 is omitted, since the
difference is less than 5% of the statutory tax rate.
Japanese Yen in Millions
¥
2009 2008
U.S. Dollars in Thousands
$
2009
Statutory tax rate
(Reconciliations)
Different tax rates applied to the consolidated subsidiaries
Foreign tax credit on retained earnings of the overseas consolidated subsidiaries
Other
Effective tax rate after tax effect accounting
40.6 %
(1.2)%
(1.3)%
(0.4)%
37.7 %