Omron 2004 Annual Report Download - page 60
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58
The approximate effect of temporary differences and tax credit and loss carry forwards that gave rise to deferred tax balances at
March 31, 2004 and 2003 were as follows:
Inventory valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accrued bonuses and vacations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Termination and retirement benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enterprise taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Intercompany profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Allowance for doubtful receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Gain on sale of land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Minimum pension liability adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other temporary differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax credit carry forwards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Operating loss carry forwards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Valuation allowance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Millions of yen
2004 2003
Deferred tax
liabilities
¥00,—
—
—
—
—
—
—
99
1,050
—
1,792
—
—
2,941
—
¥2,941
Deferred tax
assets
¥03,761
4,682
12,319
150
2,547
480
2,369
2,531
—
34,431
10,827
4,124
16,226
94,447
(8,348)
¥86,099
Deferred tax
liabilities
¥ —
—
—
—
—
7,721
—
47
—
—
2,578
—
—
10,346
—
¥10,346
Deferred tax
assets
¥ 3,215
5,432
14,942
676
2,349
—
1,683
1,249
—
32,020
10,641
4,205
6,185
82,597
(7,118)
¥75,479
Inventory valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accrued bonuses and vacations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Termination and retirement benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enterprise taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Intercompany profits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Allowance for doubtful receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Minimum pension liability adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other temporary differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax credit carry forwards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Operating loss carry forwards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Valuation allowance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2004
Thousands of U.S. dollars
Deferred tax
liabilities
$ —
—
—
—
—
72,840
—
443
—
24,321
—
—
97,604
—
$97,604
Deferred tax
assets
$ 30,330
51,245
140,962
6,377
22,160
—
15,877
11,783
302,075
100,387
39,670
58,349
779,215
(67,151)
$712,064
The total valuation allowance decreased by ¥1,230 million ($11,604 thousand) in 2004 and increased by ¥1,226 million and ¥1,779
million in 2003 and 2002, respectively.
As of March 31, 2004, the Company and certain subsidiaries had operating loss carry forwards approximating ¥16,063 million
($151,534 thousand) available for reduction of future taxable income, the majority of which expire in 2009.
The Company has not provided for Japanese income taxes on unremitted earnings of certain subsidiaries to the extent that they are
believed to be indefinitely reinvested. The unremitted earnings of the foreign subsidiaries which are considered to be indefinitely rein-