The components of the deferred income tax assets and liabilities were as follows:
(In millions) | ||||||||
|
|
|||||||
June 30, | 2013 | 2012 | ||||||
Deferred Income Tax Assets | ||||||||
Stock-based compensation expense |
$ | 888 | $ | 882 | ||||
Other expense items |
917 | 965 | ||||||
Unearned revenue |
445 | 571 | ||||||
Impaired investments |
246 | 152 | ||||||
Loss carryforwards |
715 | 532 | ||||||
Other revenue items |
55 | 79 | ||||||
|
|
|
|
|
||||
Deferred income tax assets |
$ | 3,266 | $ | 3,181 | ||||
Less valuation allowance |
(579 | ) | (453 | ) | ||||
|
|
|
|
|
||||
Deferred income tax assets, net of valuation allowance |
$ | 2,687 | $ | 2,728 | ||||
|
|
|
|
|
||||
Deferred Income Tax Liabilities | ||||||||
International earnings |
$ | (1,146 | ) | $ | (1,072 | ) | ||
Unrealized gain on investments |
(1,012 | ) | (830 | ) | ||||
Depreciation and amortization |
(604 | ) | (670 | ) | ||||
Other |
(2 | ) | (14 | ) | ||||
|
|
|
|
|
||||
Deferred income tax liabilities |
$ | (2,764 | ) | $ | (2,586 | ) | ||
|
|
|
|
|
||||
Net deferred income tax assets (liabilities) |
$ | (77 | ) | $ | 142 | |||
|
|
|
|
|
|
|||
Reported As | ||||||||
Current deferred income tax assets |
$ | 1,632 | $ | 2,035 | ||||
Long-term deferred income tax liabilities |
(1,709 | ) | (1,893 | ) | ||||
|
|
|
|
|
||||
Net deferred income tax assets (liabilities) |
$ | (77 | ) | $ | 142 | |||
|
|
|
|
|
|