ITEM 15, FORM 10-K - SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS
Published on
Exhibit 99.9
Schedule V
Valuation and Qualifying Accounts
For the Years Ended December 31, 2006, 2005 and 2004 (in millions)
| Additions | |||||||||||||||||||||
| Description |
Balance at Period |
Charged to Costs and Expenses |
Other | Deductions | Affect of Foreign Exchange Rates |
Balance at End of Period | |||||||||||||||
| 2006 |
|||||||||||||||||||||
| Allowance for losses on commercial loans |
$ | 248 | $ | — | $ | — | $ | 64 | (a) | $ | 1 | $ | 185 | ||||||||
| Valuation allowance on deferred tax asset |
676 | 4 | — | 75 | (b) | (13 | ) | 592 | |||||||||||||
| $ | 924 | $ | 4 | $ | — | $ | 139 | $ | (12 | ) | $ | 777 | |||||||||
| 2005 |
|||||||||||||||||||||
| Allowance for losses on commercial loans |
$ | 600 | $ | — | $ | — | $ | 303 | (c) | $ | (49 | ) | $ | 248 | |||||||
| Valuation allowance on deferred tax asset |
677 | 167 | — | 151 | (b) | (17 | ) | 676 | |||||||||||||
| $ | 1,277 | $ | 167 | $ | — | $ | 454 | $ | (66 | ) | $ | 924 | |||||||||
| 2004 |
|||||||||||||||||||||
| Allowance for losses on commercial loans |
$ | 597 | $ | — | $ | — | $ | 19 | (d) | $ | 22 | $ | 600 | ||||||||
| Valuation allowance on deferred tax asset |
230 | 15 | 435 | (e) | 35 | (b) | 32 | 677 | |||||||||||||
| $ | 827 | $ | 15 | $ | 435 | $ | 54 | $ | 54 | $ | 1,277 | ||||||||||
| (a) | Represents $57 million of release of allowance for losses and $7 million of charge-offs, net of recoveries. |
| (b) | Represents, primarily, utilization and expiration of net operating losses. |
| (c) | Represents $273 million of release of allowance for losses and $30 million of charge-offs, net of recoveries. |
| (d) | Represents $12 million of release of allowance for losses and $7 million of charge-offs, net of recoveries. |
| (e) | Includes the establishment of a $443 million valuation allowance related to Hyundai, recorded at the date of acquisition. |