kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the company 2019s investments in latin america are made through individual entities which are subject to local taxes . the company assesses each entity to determine if deferred tax assets are more likely than not realizable . this assessment primarily includes an analysis of cumulative earnings and the determination of future earnings to the extent necessary to fully realize the individual deferred tax asset . based on this analysis the company has determined that a full valuation allowance is required for entities which have a three-year cumulative book loss and for which future earnings are not readily determinable . in addition , the company has determined that no valuation allowance is needed for entities that have three-years of cumulative book income and future earnings are anticipated to be sufficient to more likely than not realize their deferred tax assets . at december 31 , 2014 , the company had total deferred tax assets of $ 9.5 million relating to its latin american investments with an aggregate valuation allowance of $ 9.3 million . the company 2019s deferred tax assets in canada result principally from depreciation deducted under gaap that exceed capital cost allowances claimed under canadian tax rules . the deferred tax asset will naturally reverse upon disposition as tax basis will be greater than the basis of the assets under generally accepted accounting principles . as of december 31 , 2014 , the company determined that no valuation allowance was needed against a $ 65.5 million net deferred tax asset within krs . the company based its determination on an analysis of both positive evidence and negative evidence using its judgment as to the relative weight of each . the company believes , when evaluating krs 2019s deferred tax assets , special consideration should be given to the unique relationship between the company as a reit and krs as a taxable reit subsidiary . this relationship exists primarily to protect the reit 2019s qualification under the code by permitting , within certain limits , the reit to engage in certain business activities in which the reit cannot directly participate . as such , the reit controls which and when investments are held in , or distributed or sold from , krs . this relationship distinguishes a reit and taxable reit subsidiary from an enterprise that operates as a single , consolidated corporate taxpayer . the company will continue through this structure to operate certain business activities in krs . the company 2019s analysis of krs 2019s ability to utilize its deferred tax assets includes an estimate of future projected income . to determine future projected income , the company scheduled krs 2019s pre-tax book income and taxable income over a twenty year period taking into account its continuing operations ( 201ccore earnings 201d ) . core earnings consist of estimated net operating income for properties currently in service and generating rental income . major lease turnover is not expected in these properties as these properties were generally constructed and leased within the past seven years . the company can employ strategies to realize krs 2019s deferred tax assets including transferring its property management business or selling certain built-in gain assets . the company 2019s projection of krs 2019s future taxable income over twenty years , utilizing the assumptions above with respect to core earnings , net of related expenses , generates sufficient taxable income to absorb a reversal of the company 2019s deductible temporary differences , including net operating loss carryovers . based on this analysis , the company concluded it is more likely than not that krs 2019s net deferred tax asset of $ 65.5 million ( excluding net deferred tax assets of fnc discussed above ) will be realized and therefore , no valuation allowance is needed at december 31 , 2014 . if future income projections do not occur as forecasted or the company incurs additional impairment losses in excess of the amount core earnings can absorb , the company will reconsider the need for a valuation allowance . provision/ ( benefit ) differ from the amounts computed by applying the statutory federal income tax rate to taxable income before income taxes as follows ( in thousands ) : .
what percentage of the total tax benefits came from the acquisition of fnc?
.