Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name SAFEWAY INC
CIK 0000086144
Accession number 0000086144-14-000009
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/86144/000008614414000009/swy-20131228.xml
Fiscal year end --12-28
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-28
Current year-to-date income statement start date 2012-12-30
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Significant components of the Company’s net deferred tax liability at year end are as follows (in millions):
 
 
2013
2012
Deferred tax assets:


Pension liability
$
279.8

$
293.3

Workers’ compensation and other claims
152.0

189.7

Employee benefits
155.7

202.8

Accrued claims and other liabilities
92.4

95.3

Reserves not currently deductible
63.8

37.4

Federal deduction of state taxes
51.2

7.7

Foreign tax credit carryforwards
—

37.9

State tax credit carryforwards
21.3

27.7

Operating loss carryforwards
8.8

1.9

Other assets
9.5

3.1

 
834.5

896.8

  Valuation Allowance
—

(27.1
)
 
$
834.5

$
869.7




  
2013
2012
Deferred tax liabilities:


Property
$
(430.0
)
$
(662.4
)
Inventory
(273.3
)
(314.5
)
Investment in Blackhawk
(17.9
)
—

Investments in foreign operations
(6.5
)
(19.4
)
 
(727.7
)
(996.3
)
Net deferred tax asset (liability)
$
106.8

$
(126.6
)

Deferred tax assets and liabilities are reported in the balance sheet as follows (in millions):
 
2013
2012
Current deferred tax assets (1)
$
51.8

$
1.1

Noncurrent deferred tax assets (2)
55.0

81.2

Current deferred tax liability
—

(30.4
)
Noncurrent deferred tax liability
—

(178.5
)
Net deferred tax asset (liability)
$
106.8

$
(126.6
)
(1) Included in Prepaid Expenses and Other Current Assets.
(2) Included in Other Assets.

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 834,500,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance 0
Deferred tax assets, net 834,500,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -727,700,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 106,800,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent 0 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 106,800,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

*

(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 834,500,000
Deferred tax liabilities, net -727,700,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 106,800,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

*

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