Nintendo 2010 Annual Report Download - page 46

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42
Significant components of deferred tax assets and liabilities as of March 31, 2010 and 2009 were summarized as follows:
Note 14. Income Taxes
Deferred tax assets:
Research and development expenses
Inventory - write-downs and
elimination of unrealized profit
Other accounts payable and accrued expenses
Loss on valuation of investment securities
Provision for retirement benefits
Accrued enterprise tax
Accumulated depreciation expenses
Land
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,
¥18,976
20,530
13,854
6,592
3,967
5,952
1,307
2,210
10,949
84,341
(67)
84,273
(5,967)
(2,118)
(2,931)
(11,016)
¥73,257
¥24,024
19,760
7,976
4,575
3,948
3,885
3,190
2,297
14,627
84,286
(286)
83,999
(6,957)
(2,244)
(3,675)
(12,877)
¥71,122
$258,325
212,474
85,768
49,200
42,459
41,774
34,301
24,707
157,288
906,301
(3,075)
903,225
(74,811)
(24,139)
(39,516)
(138,468)
$764,757
Reconciliation of the statutory tax rate and the effective tax rate for the years ended March 31, 2010 and 2009 were as follows:
Japanese Yen in Millions
¥
2010 2009
U.S. Dollars in Thousands
$
2010
Statutory tax rate
(Reconciliations)
Foreign tax credit on retained earnings of the overseas consolidated subsidiaries
Special deduction applied to the gross research and development expenses
Different tax rates applied to the consolidated subsidiaries
Other
Effective tax rate after tax effect accounting
40.6 %
0.3 %
(0.3)%
(1.1)%
(1.7)%
37.8 %
40.6 %
(1.3)%
- %
(1.2)%
(0.4)%
37.7 %
2010 2009
Years ended March 31, 2010 and 2009
Notes to Consolidated Financial Statements