Office Depot 2012 Annual Report Download - page 168
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A reconciliation of the net deferred income tax asset from MFRS to U.S. GAAP and the composition of the net
deferred income tax asset under U.S. GAAP is as follows:
26
2012 2011
Reconciliation of deferred income tax asset:
Net deferred income tax asset under MFRS
$ 98,288
$27,224
Effects of elimination of inflation
124,058
132,397
Effects of em
p
lo
y
ee retirement obli
g
ations
215
319
Effects of rent holida
y
s
14,669
11,880
Effects of amortization of
g
oodwill
(4,144)
(4,144)
Effects of actuarial
g
ains in other com
p
rehensive income
385
91
Total U.S. GAAP ad
j
ustments to net deferred income tax asset
$ 135,183
$140,543
Net deferred income tax asset under U.S. GAAP
233,471
167,767
Net deferred ISR asset under U.S. GAAP
284,231
208,170
Net deferred IETU asset under U.S. GAAP
(50,760)
(40,403)
2012 2011
Com
p
osition of net deferred income tax asset:
ISR
Current deferred ISR assets (liabilities):
Allowance for doubtful accounts
$ 342
$853
Inventories
(18,657)
(55,539)
Accrued liabilities
28,407
17,422
Pre
p
aid ex
p
enses
(15,661)
(19,957)
Current deferred ISR liabilit
y
–
Net
(5,569)
(57,221)
Non
–
current deferred ISR assets (liabilities):
Rents holida
y
s
14,669
11,880
Pro
p
ert
y
, e
q
ui
p
ment and leasehold im
p
rovements
260,195
239,163
Effect of tax loss carr
y
forwards
96,368
78,229
Other, net
11,636
11,706
Valuation allowance for deferred ISR asset
(93,068)
(75,587)
Non
–
current deferred ISR asset
–
Net
289,800
265,391
Net deferred ISR asset under U.S. GAAP
$ 284,231
$208,170