Orbitz 2009 Annual Report Download - page 96
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Current and non-current deferred income tax assets and liabilities in various jurisdictions are comprised
of the following:
2008 2007
December 31,
Successor
(in millions)
Current deferred income tax assets (liabilities):
Accrued liabilities and deferred income ........................................ $ 12 $ 19
Provision for bad debts..................................................... 1 1
Prepaid expenses ......................................................... (2) (3)
Tax sharing liability ....................................................... 6 4
Change in reserve accounts ................................................. 2 —
Other .................................................................. 3 —
Valuation allowance ....................................................... (16) (18)
Current net deferred income tax assets ....................................... $ 6 $ 3
Non-current deferred income tax assets (liabilities):
U.S. net operating loss carryforwards .......................................... $ 45 $ 27
Non-U.S. net operating loss carryforwards ...................................... 97 113
Accrued liabilities and deferred income ........................................ 6 39
Depreciation and amortization . . ............................................. 107 93
Tax sharing liability ....................................................... 39 47
Change in reserve accounts ................................................. 5 7
Other .................................................................. 13 (2)
Valuation allowance ....................................................... (304) (312)
Non-current net deferred income tax assets .................................... $ 8 $ 12
The current and deferred income tax assets and liabilities are presented in our consolidated balance sheets
as follows:
2008 2007
December 31,
Successor
(in millions)
Current net deferred income tax assets:
Deferred income tax asset, current ............................................ $6 $ 3
Current net deferred income tax assets ....................................... $6 $ 3
Non-current net deferred income tax assets (liabilities):
Deferred income tax asset, non-current ......................................... $9 $12
Deferred income tax liability, non-current (a) .................................... (1) —
Non-current net deferred income tax assets .................................... $8 $12
(a) The non-current portion of the deferred income tax liability at December 31, 2008 of $1 million is
included in other non-current liabilities in our consolidated balance sheet.
96
ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)