JOHNSON & JOHNSON | 2013 | FY | 3

Temporary differences and carryforwards for 2013 and 2012 were as follows:
 
 
2013 Deferred Tax
 
2012 Deferred Tax
(Dollars in Millions)
 
Asset
 
Liability
 
Asset
 
Liability
Employee related obligations
 
$
1,908

 


 
3,343

 


Stock based compensation
 
1,121

 


 
1,199

 


Depreciation
 


 
(772
)
 


 
(933
)
Non-deductible intangibles
 


 
(6,250
)
 


 
(6,261
)
International R&D capitalized for tax
 
1,656

 


 
1,599

 


Reserves & liabilities
 
1,587

 


 
1,908

 


Income reported for tax purposes
 
1,043

 


 
726

 


Net operating loss carryforward international
 
1,090

 


 
1,117

 


Miscellaneous international (1)
 
1,508

 
(361
)
 
1,291

 
(371
)
Miscellaneous U.S. 
 
927

 


 
915

 


Total deferred income taxes
 
$
10,840

 
(7,383
)
 
12,098

 
(7,565
)

(1) The $1,508 million is net of a valuation allowance related to Belgium of $187 million.

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