As of
(In millions)
March 29, 2019
March 30, 2018
Deferred tax assets:
Tax credit carryforwards
$54
$30
Net operating loss carryforwards of acquired companies
51
32
Other accruals and reserves not currently tax deductible
64
66
Deferred revenue
54
94
Intangible assets
384
—
Loss on investments not currently tax deductible
35
9
Stock-based compensation
87
141
Other
25
18
Gross deferred tax assets
754
390
Valuation allowance
(105)
(19)
Deferred tax assets, net of valuation allowance
$649
$371
Deferred tax liabilities:
Property and equipment
$(17)
$(5)
Goodwill
(13)
(20)
Intangible assets
—
(459)
Unremitted earnings of foreign subsidiaries
(316)
(396)
Prepaids and deferred expenses
(43)
(23)
Discount on convertible debt
(7)
(14)
Deferred tax liabilities
(396)
(917)
Net deferred tax assets (liabilities)
$253
$(546)
the principal components of deferred tax assets and liabilities are as follows : .
the valuation allowance provided against our deferred tax assets as of march 29 2019 increased primarily due to a corresponding increase in unrealized capital losses from equity investments certain acquired tax loss and tax credits carryforwards and california research and development credits .
based on our current operations these attributes are not expected to be realized and a valuation allowance has been recorded to offset them .
as of march 29 2019 we have u .
s .
federal net operating losses attributable to various acquired companies of approximately $ 147 million which if not used will expire between fiscal 2020 and 2037 .
we have u .
s .
federal research and development credits of approximately $ 11 million .
the research and development credits if not used will expire between fiscal 2020 and 2036 .
$ 89 million of the net operating loss carryforwards and $ 11 million of the u .
s .
federal research and development tax credits are subject to limitations which currently prevent their use and therefore these attributes are not expected to be realized .
the remaining net operating loss carryforwards and u .
s .
federal research and development tax credits are subject to an annual limitation under u .
s .
federal tax regulations but are expected to be fully realized .
we have $ 3 million of foreign tax credits which if not used will expire beginning in fiscal 2028 .
furthermore we have u .
s .
state net operating loss and credit carryforwards attributable to various acquired companies of approximately $ 68 million and $ 51 million respectively .
if not used our u .
s .
state net operating losses will expire between fiscal 2020 and 2037 and the majority of our u .
s .
state credit carryforwards can be carried forward indefinitely .
in addition we have foreign net operating loss carryforwards attributable to various foreign companies of approximately $ 118 million $ 24 million of which relate to japan and will expire beginning in fiscal 2028 and the rest of which under current applicable foreign tax law can be carried forward indefinitely .

Question: What is the reason for the increase in valuation allowance provided against deferred tax assets as of March 29, 2019?
Answer: due to a corresponding increase in unrealized capital losses from equity investments, certain acquired tax loss and tax credits carryforwards, and California research and development credits