VERIZON COMMUNICATIONS INC | 2013 | FY | 3

Significant components of deferred tax assets and liabilities are as follows:

 

     (dollars in millions)  
At December 31,    2013     2012  

Employee benefits

    $   10,242     $   13,644  

Tax loss and credit carry forwards

      2,747       4,819  

Uncollectible accounts receivable

      213       206  

Other - assets

      959       1,050  
  

 

 

  
     14,161       19,719  

Valuation allowances

      (1,596 )      (2,041 ) 
  

 

 

  

Deferred tax assets

      12,565       17,678  
  

 

 

  

Former MCI intercompany accounts receivable basis difference

      1,121       1,275  

Depreciation

      14,030       13,953  

Leasing activity

      997       1,208  

Wireless joint venture including wireless licenses

      23,032       22,171  

Other - liabilities

      1,470       1,320  
  

 

 

  

Deferred tax liabilities

      40,650       39,927  
  

 

 

  

Net deferred tax liability

    $ 28,085     $ 22,249  
  

 

 

  

us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock