Deferred Tax Assets | ||||||||
($ in millions) | ||||||||
At December 31: | 2013 | 2012* | ||||||
Retirement benefits | $ | 3,704 | $ | 5,870 | ||||
Share-based and other compensation | 1,262 | 1,666 | ||||||
Domestic tax loss/credit carryforwards | 982 | 954 | ||||||
Deferred income | 964 | 1,018 | ||||||
Foreign tax loss/credit carryforwards | 651 | 681 | ||||||
Bad debt, inventory and warranty reserves | 592 | 586 | ||||||
Depreciation | 382 | 456 | ||||||
Other | 1,774 | 1,659 | ||||||
Gross deferred tax assets | 10,311 | 12,890 | ||||||
Less: valuation allowance | 734 | 1,187 | ||||||
Net deferred tax assets | $ | 9,577 | $ | 11,703 | ||||
* Reclassified to conform with 2013 presentation. | ||||||||
Deferred Tax Liabilities | |||||||
($ in millions) | |||||||
At December 31: | 2013 | 2012* | |||||
Depreciation | $ | 1,346 | $ | 1,378 | |||
Retirement benefits | 1,219 | 257 | |||||
Goodwill and intangible assets | 1,173 | 957 | |||||
Leases | 1,119 | 2,216 | |||||
Software development costs | 558 | 542 | |||||
Deferred transition costs | 424 | 440 | |||||
Other | 841 | 993 | |||||
Gross deferred tax liabilities | $ | 6,680 | $ | 6,783 | |||
* Reclassified to conform with 2013 presentation. |