EX-99.5 7 a04-12970_1ex99d5.htm EX-99.5

Exhibit 99.5

 

Schedule II

 

THE ROUSE COMPANY AND SUBSIDIARIES

 

Valuation and Qualifying Accounts

Years ended December 31, 2003, 2002 and 2001

(in thousands)

 

 

 

 

 

Additions

 

 

 

 

 

Descriptions

 

Balance at
beginning
of year

 

Charged to
costs and
expenses

 

Charged to
other
accounts

 

Deductions

 

Balance at
end of year

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2003:

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful receivables

 

$

27,197

 

$

11,964

 

$

—

 

$

8,301

(2)

$

30,860

 

Deferred tax asset valuation allowance

 

$

12,534

 

$

1,257

 

$

—

 

$

11,561

(3)

$

2,230

 

Preconstruction

 

$

8,554

 

$

2,637

 

$

—

 

$

2,727

(4)

$

8,464

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2002:

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful receivables

 

$

27,206

 

$

9,059

 

$

—

 

$

9,068

(2)

$

27,197

 

Deferred tax asset valuation allowance

 

$

11,250

 

$

3,039

 

$

—

 

$

1,755

(3)

$

12,534

 

Preconstruction

 

$

7,528

 

$

6,967

 

$

—

 

$

5,941

(4)

$

8,554

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2001:

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful receivables

 

$

22,608

 

$

8,992

 

$

464

(1)

$

4,858

(2)

$

27,206

 

Deferred tax asset valuation allowance

 

$

—

 

$

2,572

 

$

9,637

(1)

$

959

(3)

$

11,250

 

Preconstruction

 

$

7,576

 

$

5,434

 

$

749

(1)

$

6,231

(4)

$

7,528

 

 

Notes:

 

(1)          Balance acquired from The Rouse Company Incentive Compensation Statutory Trust in 2001 when we acquired the voting stock of the majority financial interest ventures.  Subsequent to the acquisition, these entities are consolidated in our financial statements.

 

(2)          Balances written off as uncollectible.

 

(3)          A portion of the valuation allowance was reversed due to our determination that it was more likely than not that we would realize these deferred tax assets.

 

(4)          Costs of unsuccessful projects written off and other deductions.