E. I. du Pont de Nemours and Company Notes to the Consolidated Financial Statements (continued) 2. The company has corrected its valuation allowance (with a corresponding reduction in tax loss and credit carryforwards) in the amount of $238 million as a result of a change in the Delaware state apportionment methodology. 3. During the year ended December 31, 2018, the company established a full valuation allowance against the net deferred tax asset position of a legal entity in Brazil due to revised financial projections, resulting in tax expense of $75 million. See Note 14 for additional information. Operating Loss and Tax Credit Carryforwards Deferred Tax Asset (In millions) 2018 2017 Operating loss carryforwards Expire within 5 years $ 76 $ 42 Expire after 5 years or indefinite expiration 1,137 1,245 Total operating loss carryforwards $ 1,213 $ 1,287 Tax credit carryforwards Expire within 5 years $ 8 $ 10 Expire after 5 years or indefinite expiration 169 155 Total tax credit carryforwards $ 177 $ 165 Total Operating Loss and Tax Credit Carryforwards $ 1,390 $ 1,452 F-44 Deferred Tax Balances at December 31 2018 2017 (In millions) Assets Liabilities Assets Liabilities Property $ — $ 1,043 $ — $ 1,160 Tax loss and credit carryforwards 1 1,390 — 1,452 — Accrued employee benefits 1,802 169 1,988 68 Other accruals and reserves 323 51 333 39 Intangibles 320 5,876 284 6,286 Inventory 129 371 130 597 Long-term debt 24 — 109 — Investments 114 581 23 453 Unrealized exchange gains/losses — 141 — 71 Other – net 280 141 260 121 Subtotal $ 4,382 $ 8,373 $ 4,579 $ 8,795 Valuation allowances 1,2,3 (1,087) — (1,140) — Total $ 3,295 $ 8,373 $ 3,439 $ 8,795 Net Deferred Tax Liability $ (5,078) $ (5,356)