Brady's listing of deferred tax assels and liabilities includes the following for operations in the tax jurisdictions of Tambura and Nileboo: Tambura: Deferred tax asset of $25 million Valuation allowance of $22 million Deferred tax liability of $34 million Nileboo: Deferred tax asset of $78 million Deferred tax liability of $23 million Brady files separate tax returns in Tambura and Nileboo. Brady's balance sheet would include the following disclosure of deferred tax assets and liabilities: