Components of Deferred Tax Assets and Liabilities | | | | | | | | | | | | | December 31, | (In millions) | 2022 | | 2021 | | | | | Deferred tax assets | | | | Pension liabilities | $ | 33.5 | | | 53.1 | | Retirement benefits other than pensions | 23.8 | | | 54.6 | | Lease liabilities | 80.9 | | | 85.4 | | Workers’ compensation and other claims | 27.5 | | | 35.5 | | Property and equipment, net | 54.1 | | | 35.7 | | Other assets and liabilities | 113.3 | | | 88.2 | | Net operating loss carryforwards | 53.4 | | | 72.8 | | Interest limitations and other tax carryforwards(a) | 20.6 | | | 6.0 | | Foreign tax and other tax credits(b) | 57.4 | | | 82.8 | | Subtotal | 464.5 | | | 514.1 | | Valuation allowances | (77.3) | | | (141.5) | | Total deferred tax assets | 387.2 | | | 372.6 | | | | | | Deferred tax liabilities | | | | | | | | | | | | Right-of-use assets, net | 76.8 | | | 76.9 | | Goodwill and other intangibles | 100.3 | | | 76.7 | | Other assets and miscellaneous | 31.7 | | | 28.8 | | Deferred tax liabilities | 208.8 | | | 182.4 | | Net deferred tax asset | $ | 178.4 | | | 190.2 | | | | | | Included in: | | | | | | | | Noncurrent assets | $ | 246.2 | | | 239.4 | | | | | | Noncurrent liabilities | (67.8) | | | (49.2) | | Net deferred tax asset | $ | 178.4 | | | 190.2 | |
(a)U.S. interest limitation carryforward of $10.8 million has an unlimited carryforward and is not subject to a valuation allowance. In addition, foreign interest limitation and other tax carryforwards of $9.8 million have an unlimited carryforward and are subject to a full valuation allowance. (b)U.S. foreign tax credits of $54.0 million expire in various years between 2023 and 2031 and other remaining credits of $3.4 million have various expiration periods. The U.S. foreign tax credits and other credits have a valuation allowance of $10.3 million.
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