USA Deferred Tax Assets/Liabilities in a company report

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Hi guys,

I'm studying Income Taxes reporting, and I'm trying to make sense of the following excerpt from the financial statements of a company



My question may sound basic for everybody here but, looking at the line "Deferred Tax Liabilities" it says that the value for the last year is M$ 585. Why then it says later in the line "Noncurrent deferred tax liabilities" that the deferred tax liabilities are M$ 28?
I don't understand how it takes a net deferred tax asset of M$ 47 and then it break it into pieces of current and non current DTA and DTL to place it like that into the balance sheet.

Thanks.
 

kirby

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If you put the top two sections of detail (total tax assets and total tax liabilities ) on to the balance sheet you'd have a mess of detail. So in the footnote, they show you the detail. Then, they do two things to that detail: 1) they group it into CURRENT and NONCURRENT and 2) they net current assets against current liabilities and so on for noncurrent. Result is the last section which shows the net results that are REPORTED on the balance sheet. So that $585 that you see as total liabilities gets netted down and broken into current and noncurrent portions.
 

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