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During 2012, improvements in our operating results in Canada and the U.K., provided suf ficient positive evidence to reduce the valuation allowances in those jurisdictions, resulting in tax benefits of $34 and $20. 

Deferred tax assets and liabilities —  Temporary differences and carryforwards give rise to the following deferred tax assets and liabilities. 

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Carryforwards —  Our deferred tax assets include benefits expected from the utilization of net operating loss (NOL), capital loss and credit carryforwards in the future. The following table identifies the net operating loss deferred tax asset components and the related allowances that existed at December 31, 2014. Due to time limitations on the ability to realize the benefit of the carryforwards, additional portions of these deferred tax assets may become unrealizable in the future. 

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In addition to the NOL carryforwards listed in the table above, we have deferred tax assets related to capital loss carryforwards of $55 which are fully offset with valuation allowances at December 31, 2014.We also have deferred tax assets of $60 related to other credit carryforwards which are of fset with $57 of valuation allowances at December 31, 2014. The capital losses can be carried forward indefinitely while the other credits are generally available for 10 to 20 years with portions currently expiring. We also have a deferred tax asset of $31 related to NOLs for excess tax benefits generated upon the settlement of stock awards that increased a current year net operating loss. We cannot record the benefit of these losses in the financial statements until the losses are utilized to reduce our income taxes payable at which time we will recognize the tax benefit in equity. 

