GE 2005 Annual Report Download - page 120

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(120)
Note 21
Deferred Income Taxes (Restated)
Aggregate deferred income tax amounts are summarized below.
December 31 (In millions)
2005
(Restated)
2004
(Restated)
ASSETS
GE $9,928
$9,464
GECS 6,335
6,739
16,263
16,203
LIABILITIES
GE 13,661
13,080
GECS 18,914
18,431
32,575
31,511
Net deferred income tax liability $ 16,312
$ 15,308
Principal components of our net liability (asset) representing deferred income tax balances are as follows:
December 31 (In millions)
2005
(Restated)
2004
(Restated)
GE
Provisions for expenses(a) $ (6,521) $ (5,833)
Retiree insurance plans (1,454) (1,346)
Prepaid pension asset – principal plans 6,249 6,170
Depreciation 2,130 2,029
Intangible assets 1,490 1,204
Other – net 1,839 1,392
3,733 3,616
GECS
Financing leases 8,037 9,767
Operating leases 4,024 3,716
Intangible assets 1,195 892
Allowance for losses (2,025) (2,149)
Cash flow hedges (372) (938)
Other – net 1,720 404
12,579 11,692
Net deferred income tax liability $ 16,312 $ 15,308
(a) Represented the tax effects of temporary differences related to expense accruals for a wide variety of items, such as employee
compensation and benefits, interest on tax liabilities, product warranties and other sundry items that are not currently deductible.