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- 65 -Interest expense - net is incurred on the following:Notes 2012 2011 2010(In Thousand Pesos)Long-term debt 14 P=1,657,862 P=1,762,501 P=1,658,291Accretion expense 15, 25.4 168,707 167,445 162,002Amortization of debt issuance cost 14 103,497 116,618 110,570Short term notes payable 14 82,047 3,823 39,237Others 73,965 9,273 11,685P=2,086,078 P=2,059,660 P=1,981,78523. Impairment Losses and OthersThis account consists of:Notes 2012 2011 2010(In Thousand Pesos)Impairment loss on:Receivables 4, 6, 28.2.2 P=1,377,317 P=1,599,967 P=1,285,533Property and equipment andintangible assets 259,262 128,614 63,126Provisions for (reversal of):Inventory obsolescence andmarket decline 5 170,678 237,918 42,115Other claims and assessments 13 56,327 (47,916) 138,760P=1,863,584 P=1,918,583 P=1,529,53424. Income TaxThe significant components of the deferred income tax assets and liabilities of the Globe Grouprepresent the deferred income tax effects of the following:2012 2011 2010(In Thousand Pesos)Deferred income tax assets on:Allowance for impairment losses on receivables P=1,081,543 P=1,033,282 P=737,311Unearned revenues already subjected toincome tax 730,079 760,762 744,504ARO 440,857 406,953 374,106Accumulated impairment losses on propertyand equipment 183,072 126,247 98,389Accrued rent expense under PAS 17 109,237 112,842 120,753Inventory obsolescence and market decline 103,196 98,752 43,265Accrued vacation leave 103,110 90,788 84,168Unrealized loss on derivative transactions 72,070 77,056 67,793Provisions for claims and assessments 68,496 56,632 73,592Cost of share-based payments 44,236 13,208 5,819NOLCO (see Note 3.2.7) 15,005 1,012 13,499Allowance for doubtful accounts for longoutstandingnet advances 12,654 8,980 –MCIT (see Note 3.2.7) 2,176 – 954Unrealized foreign exchange losses 1,108 125 125Others 25,672 – –Total (Carried Forward) 2,992,511 2,786,639 2,364,278*SGVFS000196*