Document 6RdJm7mz4QLEbw8DboGpkYOm9

company ^ame - r/*.o.n^/ ciy/tr .*.'> rumguaie. Information pertaining to the Company's income before income taxes and extraordinary loss and the applicable provision for income taxes, excluding amounts related to the 1996 and 1994 extraordinary losses, is as follows: Income before income taxes and extraordinary less: Domestic ............................................................................................ Foreign.................................................................................................. Provision for income taxes: Current: Federal............................... State and Local........... Foreign............................... Deferred: Federal.................. State and Local Foreign.................. YEAR ENDED DECEMBER 31, 1996 1995 1994 $20.4 3.5 $23.9 S17.9 1.9 S19.9 $11.3 2.8 $14.1 CD O $5.8 i "> 1.0 0.9 0.1 $5.4 1.0 0.6 7.0 0.6 0.1 $3.1 0.6 0.5 4.: l.C 0.2 $9.0 $7.7 $5.4 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company's deferred tax liabilities and assets are as follows: Deferred tax assets: Accounts receivable........................................... Accrued expenses and other liabilities Property, plant and equipment................... Inventory.................................................................. Intangible assets............................................... Pension liabilities........................................... Net operating loss carryforwards............ Capital loss carryforwards.......................... Total deferred tax asset Valuation allowance................. Total deferred tax asset net of valuation allowance Deferred tax liabilities: Pension asset................................................................................................................... Unremitted foreign earnings................................................................................... Other ...................................... ........................................................................................... Total deferred tax liability Net deferred tax asset DECEMBER 31, 1996 1995 2.1 5.2 0.4 29.2 67.9 7.0 111.8 (71.9) 39.9 5.1 0.1 5.2 $34.7 $0.6 0.8 0.9 0.4 0.6 3.3 3.3 0.6 0.3 0.9 $2.4 F-ll Disclosure Page 34