Tech Data 2015 Annual Report Download - page 64
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Table of Contents
The components of pretax income are as follows:
The significant components of the Company’s deferred tax liabilities and assets are as follows:
The net change in the deferred tax valuation allowances in fiscal 2015 was $29.8 million primarily resulting from the $19.2 million reversal of
deferred tax valuation allowances related to certain European jurisdictions as discussed previously, as well as changes from the translation of
foreign currencies. The net change in the deferred tax valuation allowances in fiscal 2014 was a decrease of $41.0 million primarily resulting
from the $45.3 million
reversal of deferred tax valuation allowances primarily related to certain European jurisdictions as discussed previously.
Year ended January 31,
2015
2014
2013
(In thousands)
United States
$
100,166
$
124,134
$
108,700
Foreign
139,018
80,175
120,766
$
239,184
$
204,309
$
229,466
January 31,
2015
2014
(In thousands)
Deferred tax liabilities:
Depreciation and amortization
$
60,235
$
70,800
Capitalized marketing program costs
5,420
4,722
Goodwill
6,050
6,108
Deferred costs currently deductible
7,605
6,094
Undistributed earnings on foreign assets held for sale
5,598
0
Other, net
7,796
7,491
Total deferred tax liabilities
92,704
95,215
Deferred tax assets:
Accrued liabilities
47,083
50,665
Loss carryforwards
96,199
125,914
Amortizable goodwill
7,930
11,915
Depreciation and amortization
7,132
7,699
Disallowed interest expense
31,898
38,481
Other, net
10,359
10,149
200,601
244,823
Less: valuation allowances
(71,499
)
(101,340
)
Total deferred tax assets
129,102
143,483
Net deferred tax asset
$
36,398
$
48,268