FORM 20-F - Check Point

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands (except share and per share amounts)
NOTE 11:- TAXES ON INCOME (Cont.)
F-41
December 31,
2008 2009
Carry-forward tax losses $ 276,724 $ 269,469
Deferred revenues 3,429 3,194
Employee stock based compensation 15,344 14,316
Accrued employees costs 3,900 3,098
Reserves and allowances 2,984 4,137
Unrealized losses on marketable securities, net 1,255 -
Fixed assets 2,566 3,070
Intangible assets - 2,314
Tax credits 8,523 9,791
Deferred tax assets before valuation allowance 314,725 309,389
Valuation allowance (280,393) (275,013)
Deferred tax asset 34,332 34,376
Intangible assets (34,058) (23,681)
Unrealized gains on marketable securities, net - (4,039)
Other (313) (604)
Deferred tax liability (34,371) (28,324)
Deferred tax asset (liability), net $ (39) $ 6,052
December 31,
2008 2009
Domestic:
Current deferred tax asset, net $ 1,129 $ 634
Non current deferred tax asset, net 9,502 9,772
10,631 10,406
Foreign:
Current deferred tax asset, net 9,292 8,167
Current deferred tax liability, net (7,238) (7,420)
Non current deferred tax asset, net 9,501 6,535
Non current deferred tax liability
(22,225) (11,636)
(10,670) (4,354)
$ (39) $ 6,052
Current deferred tax asset, net, is included within other current assets in the balance sheets.
Current deferred tax liability, net, is included within accrued expenses and other liabilities
in the balance sheets.