Orbitz 2010 Annual Report Download - page 119

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Schedule II — Valuation and Qualifying Accounts
Balance at
Beginning of
Period
Charged to
Costs and
Expenses
Charged to
Other Accounts Deductions
Balance at
End of Period
(In millions)
Tax Valuation Allowance
Year Ended December 31, 2009 .... $320 $35 $ (20)(a) $ (5)(c) $330
Year Ended December 31, 2008 .... 330 27 (37)(a) — 320
Year Ended December 31, 2007 .... 415 46 (117)(b) (14)(d) 330
(a) Represents foreign currency translation adjustments to the valuation allowance. In addition, the 2009
amount also includes a reclassification adjustment between our gross deferred tax assets and the corre-
sponding valuation allowance.
(b) Represents adjustments made to reflect the decreases in the valuation allowance related to the tax sharing
agreement with the Founding Airlines.
(c) Represents the surrender of $17 million of net operating losses generated in 2007 to Donvand Limited, a
subsidiary of Travelport, as permitted under the U.K. group relief provisions. A full valuation allowance
had previously been established for these net operating losses. As a result, upon surrender, we reduced
our gross deferred tax assets and the corresponding valuation allowance by $5 million.
(d) Represents the expiration of a U.S. federal income tax capital loss carryforward.
119