Table:
|  | March 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Deferred tax assets: |  |  |
| Deferred income on shipments to distributors | $— | $39.1 |
| Inventory valuation | 45.0 | 10.7 |
| Net operating loss carryforward | 94.3 | 101.1 |
| Capital loss carryforward | 9.6 | 10.6 |
| Share-based compensation | 42.4 | 31.4 |
| Income tax credits | 376.5 | 178.4 |
| Property, plant and equipment | 23.6 | 25.7 |
| Accrued expenses and other | 91.4 | 91.2 |
| Intangible assets | 1,608.1 | — |
| Other | 12.6 | — |
| Gross deferred tax assets | 2,303.5 | 488.2 |
| Valuation allowances | (332.1) | (204.5) |
| Deferred tax assets, net of valuation allowances | 1,971.4 | 283.7 |
| Deferred tax liabilities: |  |  |
| Convertible debt | (279.3) | (304.4) |
| Intangible assets | (721.0) | (66.6) |
| Other | — | (18.3) |
| Deferred tax liabilities | (1,000.3) | (389.3) |
| Net deferred tax asset (liability) | $971.1 | $(105.6) |
| Reported as: |  |  |
| Non-current deferred tax assets | $1,677.2 | $100.2 |
| Non-current deferred tax liability | (706.1) | (205.8) |
| Net deferred tax asset (liability) | $971.1 | $(105.6) |
Paragraphs:
The tax effects of temporary differences that give rise to significant portions of the Company's deferred tax assets and deferred tax liabilities are as follows (amounts in millions):
In assessing whether it is more likely than not that deferred tax assets will be realized, the Company considers all available evidence, both positive and negative, including its recent cumulative earnings experience and expectations of future available taxable income of the appropriate character by taxing jurisdiction, tax attribute carryback and carryforward periods available to them for tax reporting purposes, and prudent and feasible tax planning strategies.
Question:
What was the inventory valuation in 2018?
Answer: 10.7