Petsmart 2014 Annual Report Download - page 82

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Income Taxes
We establish deferred income tax assets and liabilities for temporary differences between the financial reporting bases and
the income tax bases of our assets and liabilities at enacted tax rates expected to be in effect when such assets or liabilities are
realized or settled. We generally do not materially adjust deferred income taxes at interim periods. We record a valuation
allowance on the deferred income tax assets to reduce the total to an amount we believe is more likely than not to be realized.
Valuation
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