the Combined Balance Sheets. NAI accounts for income taxes in accordance with Accounting Standards Codification (ASC) 740, Income Taxes (ASC 740). ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes. Under the asset and liability approach, deferred t

ome arc allocated to the Members for inclusion in their income tax returns. In accounting for income taxes, the Company follows the guidance in PASS ASC 740 (formerly PASS Interpretation No. 48), as amended by ASU 2009-06, Accounting for Uncertainty in Income Taxes. ASC 740 requires the Company to determ

8,231 2,524 Foreign 6,225 3,483 Total deferred benefit 39,979 12,586 Income tax benefit from continuing operations $ 39,345 $ 24,375 Under ASC 740, Income Taxes, deferred taxes arc recorded to give recognition to temporary differences between the tax basis of assets or liabilities and their rep

t of the Dodd-Frank Act on the Partnership, the Investment Manager and the General Partner is unclear. Accounting for Uncertainty in Income Taxes. ASC 740, "Income Taxes" (in part formerly known as "FIN 48"), which is part of U.S. GAAP, provides guidance on the recognition of uncertain tax positions.