Table:
|  | 2019 | 2018 |
| --- | --- | --- |
|  | (in thousands) |  |
| Deferred tax assets |  |  |
| Tax credits | $79,480 | $69,091 |
| Accruals | 25,424 | 23,449 |
| Pension liabilities | 24,459 | 20,826 |
| Inventory valuations | 18,572 | 18,514 |
| Deferred revenue | 7,622 | 9,130 |
| Equity compensation | 7,042 | 7,190 |
| Vacation accrual | 4,768 | 4,772 |
| Investment impairment | 3,292 | — |
| Net operating loss carryforwards | 2,705 | 3,658 |
| Marketable securities | — | 962 |
| Other | 1,472 | 685 |
| Gross deferred tax assets | 174,836 | 158,277 |
| Less: valuation allowance | (77,177) | (69,852) |
| Total deferred tax assets | $97,659 | $88,425 |
| Deferred tax liabilities: |  |  |
| Depreciation | $(18,238) | $(14,028) |
| Intangible assets | (16,705) | (24,211) |
| Marketable securities | (1,601) | — |
| Total deferred tax liabilities | $(36,544) | $(38,239) |
| Net deferred assets | $61,115 | $50,186 |
Paragraphs:
Significant components of Teradyne’s deferred tax assets (liabilities) as of December 31, 2019 and 2018 were as follows:
As of December 31, 2019 and 2018, Teradyne evaluated the likelihood that it would realize deferred income taxes to offset future taxable income and concluded that it is more likely than not that a substantial majority of its deferred tax assets will be realized through consideration of both the positive and negative evidence. At December 31, 2019 and 2018, Teradyne maintained a valuation allowance for certain deferred tax assets of $77.2 million and $69.9 million, respectively, primarily related to state net operating losses and state tax credit carryforwards, due to the uncertainty regarding their realization. Adjustments could be required in the future if Teradyne estimates that the amount of deferred tax assets to be realized is more or less than the net amount recorded.
Question:
What was the valuation allowance for certain deferred tax assets in 2019?