O'Reilly Auto Parts 2012 Annual Report Download - page 78

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FORM 10-k
68
December 31
,
2012 2011
Deferred tax assets:
Current:
Allowance for doubtful accounts $ 1,937 $ 1,933
Tax credits 1,583 541
Other accruals 55,683 55,209
Total current deferred tax assets: 59,203 57,683
Noncurrent:
Tax credits 5,333 4,605
Net operating losses 2,077 3,008
Other accruals 58,605 50,855
Total noncurrent deferred tax assets: 66,015 58,468
Total deferred tax assets $ 125,218 $ 116,151
Deferred tax liabilities:
Current:
Inventories $ 78,675 $ 59,673
Total current deferred tax liabilities: 78,675 59,673
Noncurrent:
Property and equipment 132,547 138,132
Other 13,012 9,200
Total noncurrent deferred tax liabilities: 145,559 147,332
Total deferred tax liabilities 224,234 207,005
Net deferred tax liabilities $ (99,016) $ (90,854)
The following table reconciles the above net deferred tax assets (liabilities) as presented on the accompanying Consolidated Balance
Sheets as of December 31, 2012 and 2011 (in thousands):
December 31,
2012 2011
Deferred tax assets - current $ 59,203 $ 57,683
Deferred tax liabilities - current (78,675) (59,673)
Deferred tax liabilities - current (19,472) $ (1,990)
Deferred tax assets - noncurrent 66,015 58,468
Deferred tax liabilities - noncurrent (145,559) (147,332)
Deferred tax liabilities - noncurrent (79,544) $ (88,864)
Net deferred tax liabilities $ (99,016) $ (90,854)
Provision for income taxes:
The following table reconciles the “Provision for income taxes” included in the accompanying Consolidated Statements of Income for
the years ended December 31, 2012, 2011 and 2010 (in thousands):