The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities are presented below: The Company has adopted SFAS No. 131, “Disclosures about Segments of an Enterprise and Related Information” which requires disclo- sure of financial and descriptive information about the Company’s reportable operating segments. The operating segments reported below are based on the nature of the products sold by the Company and are the segments of the Company for which separate financial informa- tion is available and for which operating results are regularly evaluated by executive management to make decisions about resources to be allocated to the segment and assess its performance. Management evaluates segment performance based on segment gross profit. There were no material transfers between segments in the periods presented. The Company’s Water Transmission segment manufactures and markets large diameter, high-pressure steel pipe used primarily for water transmission. Water Transmission products are custom manufactured in accordance with project specifications and are used primar- ily for high-pressure water transmission pipelines in the United States and Canada. Water Transmission products are manufactured in Portland, Oregon; Denver, Colorado; Adelanto and Riverside, California; Parkersburg, West Virginia and Saginaw, Texas facilities and are sold primarily to public water agencies either directly or through an installation contractor. The Company’s Tubular Products segment manufactures and markets smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. Tubular Products are manufactured in the Company’s Port- land, Oregon; Atchison, Kansas; Houston, Texas; Bossier City, Louisiana; and Monterrey, Mexico facilities. Tubular Products are marketed through a network of direct sales force personnel and independent distributors throughout the United States and Canada.  Based on the location of the customer, the Company sold products only in the United States and Canada. As of December 31, 2000, all material long-lived assets are located in the United States. 15. Segment Information: As of December 31, 2000, the Company had approximately $3.48 million of net operating loss carryforwards as a result of the acqui- sition of Thompson Pipe and Steel which are limited in their use to approximately $348 per year during the 15 year carryforward period which expires in 2010. December 31, 2000 1999 Deferred tax assets: Trade receivables, net $ 35 $ 29 Property and equipment – – Accrued employee benefits 760 611 Inventories 558 460 Net operating loss carryforwards 1,358 1,493 Other – – Total deferred tax assets $ 2,711 $ 2,593 Deferred tax liabilities: Trade receivables, net $ – $ – Property and equipment (14,726) (10,065) Total deferred tax liabilities (14,726) (10,065) Net deferred tax liabilities $(12,015) $ (7,472) Deferred tax assets and liabilities are included in the  consolidated balance sheets as follows: Deferred tax assets – current $ 1,489 $ 1,502 Deferred tax liabilities – noncurrent (13,504) (8,974) Net deferred tax liabilities  $(12,015) $ (7,472) Northwest Pipe Company | 24