Unformatted text preview: 306 ) Income tax expense (benefit) per consolidated
statement of income (7,806 )
2,997 16,679 82,065 Aracruz Celulose S.A.
Notes to Consolidated Financial Statements
Expressed in thousands of United States dollars
(unless otherwise stated) The major components of the deferred tax accounts in the balance sheet are as follows:
(38,761 ) Assets
Tax loss carryforwards
Operations in Brazil
Operations outside Brazil
Depreciation - book over tax
Expenses not currently deductible
Valuation allowance 2000 63
(2,474 ) 55,911
6,488 Long-term assets 6,736 49,423 Current assets 13,899 7,163 Although realization of net deferred tax assets is not assured, management believes that, except
where a valuation allowance has been provided, such realization is more likely than not to
occur. The amount of the deferred tax asset considered realizable could, however, be reduced
if estimates of future taxable income during the tax loss carryforwards period are reduced. Tax
loss carryforwards do not expire and are available to offset against future taxable income li...
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08