Nintendo 2011 Annual Report Download - page 46

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42
Significant components of deferred tax assets and liabilities as of March 31, 2011 and 2010 were summarized as follows:
Note 16. Income Taxes
Deferred tax assets:
Research and development expenses
Inventory - write-downs and
elimination of unrealized profit
Revenue recognition for tax purposes
Other accounts payable and accrued expenses
Provision for retirement benefits
Loss on valuation of investment securities
Accrued enterprise tax
Valuation difference on available-for-sale securities
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,
¥24,024
19,760
-
7,976
3,948
4,575
3,885
-
3,190
2,297
14,627
84,286
(286)
83,999
(6,957)
(2,244)
(3,675)
(12,877)
¥71,122
¥30,095
9,862
7,690
5,575
4,351
3,815
2,600
2,181
-
-
10,323
76,496
(2,763)
73,733
(7,286)
(1,554)
(2,270)
(11,111)
¥62,621
$362,592
118,825
92,659
67,176
52,433
45,967
31,330
26,279
-
-
124,379
921,644
(33,294)
888,349
(87,788)
(18,723)
(27,361)
(133,872)
$754,477
Reconciliation of the statutory tax rate and the effective tax rate for the year ended March 31, 2011 was omitted as the difference
between the statutory tax rate and the effective tax rate after tax effect accounting was equal to or less than a five hundredth of the
statutory tax rate.
Reconciliation for the year ended March 31, 2010 was as follows:
Japanese Yen in Millions
¥
2011 2010
U.S. Dollars in Thousands
$
2011
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 %
2010
[Note] Amounts for items with a bar were omitted as it is immaterial.
Years ended March 31, 2011 and 2010
Notes to Consolidated Financial Statements