Assuming that Wal-Mart had no significant permanent differences between book income and taxable income, did income before taxes for financial reporting exceed or fall short of taxable income for year ended 2012, 2013 and 2014? Explain.

b. Will the adjustment to net income for deferred taxes to compute cash flow from operations in the statement of cash flows result in an addition or a subtraction for 2012, 2013 and 2014?

c. The company's accrued liabilities include accrued wages, self-insurance, accrued taxes, accrued utilities, and accrued interest etc. Why are deferred taxes related to accrued liabilities disclosed as a deferred tax asset instead of a deferred tax liability?

d. Why are deferred taxes related to share-based compensation disclosed as a deferred tax asset

e. Like most companies, Wal-Mart uses the straight-line depreciation method for financial reporting and accelerated depreciation methods for income tax purposes. Why are deferred taxes related to depreciation disclosed as a deferred tax liability?

The components of income from continuing operations before income taxes are as follows: (Amounts in millions) U.S. Non-U.S. Total income from continuing operations before income taxes +A summary of the provision for income taxes is as follows: (Amounts in millions) Current: U.S. federal U.S. state and local International Total current tax provision Deferred: U.S. federal U.S. state and local International Total deferred tax expense (benefit) Total provision for income taxes Dafarvad Taxan $ $ 2014 Fiscal Years Ended January 31, 2013 19,412 5,244 24,656 $ 2014 Fiscal Years Ended January 31, 2013 6,377 $ 719 1,523 8,619 (72) 37 (479) $ (514) 8,105 19,352 $ 6,310 25,662 $ $ 5,611 $ 622 1,743 7,976 38 (8) (48) (18) 7,958 $ 2012 18,685 5,647 24,332 2012 4,596 743 1,383 6,722 1,444 57 (299) 1,202 7,924 0 Deferred Taxes The significant components of the Company's deferred tax account balances are as follows: (Amounts in millions) Deferred tax assets: Loss and tax credit carryforwards Accrued liabilities Share-based compensation Other Total deferred tax assets Valuation allowances Deferred tax assets, net of valuation allowance Deferred tax liabilities: Property and equipment Inventories Other Total deferred tax liabilities Net deferred tax liabilities S $ 2014 January 31, 3,566 2,986 126 1,573 8,251 (1,801) 6,450 6,295 1,641 1,827 9,763 3,313 $ $ 2013 3,525 2,683 204 1,500 7,912 (2,225) 5,687 5,830 1,912 1,157 8,899 3,212