As of May 31, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Deferred tax assets: | ||||||||
Allowance for doubtful accounts | $ | 20 | $ | 17 | ||||
Inventories | 40 | 37 | ||||||
Sales return reserves | 101 | 84 | ||||||
Deferred compensation | 197 | 186 | ||||||
Stock-based compensation | 140 | 126 | ||||||
Reserves and accrued liabilities | 66 | 66 | ||||||
Foreign loss carry-forwards | 19 | 35 | ||||||
Foreign tax credit carry-forwards | 106 | 216 | ||||||
Undistributed earnings of foreign subsidiaries | 162 | 82 | ||||||
Other | 47 | 62 | ||||||
Total deferred tax assets | 898 | 911 | ||||||
Valuation allowance | (5 | ) | (27 | ) | ||||
Total deferred tax assets after valuation allowance | 893 | 884 | ||||||
Deferred tax liabilities: | ||||||||
Property, plant and equipment | (241 | ) | (191 | ) | ||||
Intangibles | (96 | ) | (98 | ) | ||||
Other | (20 | ) | (22 | ) | ||||
Total deferred tax liability | (357 | ) | (311 | ) | ||||
NET DEFERRED TAX ASSET | $ | 536 | $ | 573 | ||||