Orbitz 2011 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2011 Orbitz annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

93
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 thousands)
Tax Valuation Allowance
Year Ended December 31, 2011. . . . . . . . $ 312,520 $ 1,651 $ (15,311) (a) $ — $ 298,860
Year Ended December 31, 2010. . . . . . . . 329,868 3,344 (20,692) (b) — 312,520
Year Ended December 31, 2009. . . . . . . . 319,512 34,560 (19,398) (b) (4,806) (c) 329,868
(a) Includes a reduction of $12.0 million to the deferred tax asset in connection with a reduction of the tax sharing liability to
the airlines. The remaining $3.3 million represents the combined effect of foreign currency translation adjustments, a
reduction to the U.K. tax rate and other reclassification adjustments between the gross deferred tax assets and the
corresponding valuation allowance.
(b) Represents foreign currency translation adjustments to the valuation allowance and reclassification adjustments between
our gross deferred tax assets and the corresponding valuation allowance. The amount for the year ended December 31,
2010 also includes the effects of a U.K. tax rate change.
(c) Represents the surrender of $17.2 million of net operating losses generated in the year ended December 31, 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 $4.8 million.