Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Michael Linenberg - Banc of America/Merrill Lynch.
Michael Linenberg - Banc of America/Merrill Lynch
Yes. Two quick ones here. I guess the anti-trust immunized agreement, the approval, is that still on track for the end of the month? I just -- Gerard you may have thrown out a date or something just with the EU, now taking a look although I guess that that was expected. What’s the time, any update on that?
Gerard Arpey
Yes. Mike, I think it’s -- we are really not in a position to put a stake in the ground in terms of the timing, because where we are dealing both with US the government and of course with the EU, but I think at this stage we are being responsive to all of the governmental parties and as you and I have discussed in the past the facts around our side and we think that we’ll eventually get there.
Michael Linenberg - Banc of America/Merrill Lynch
Yes, very good. And then, my second question, this is to Tom, I missed the early part of the call you may have actually hit this. The tax credit in the quarter, the $30 million I believe, now what was driving that or what was behind that?
Thomas Horton
The economic stimulus legislation last year and extended into ’09 allows companies to claim enhanced tax depreciation on new capital spending, bonus depreciation. Unfortunately companies with losses like our own did not benefit from bonus depreciation, despite a lot of capital spending as far as profitable company.
So to address that stimulus and equity, the legislation provides that in lieu of deducting bonus depreciation on CapEx, companies may elect to accelerate the use of tax credits on a capped basis, in other words AMT credit. So, these tax credits normally can’t be used before NOLs, but as of the end of the third quarter we had accrued a $30 million refund of income tax on the use of tax credit from qualifying CapEx, so that’s what that’s about.
Michael Linenberg - Banc of America/Merrill Lynch
Thomas, this is a one offer, would we see anything in the fourth quarter or this is it?
Thomas Horton
There may be a little bit more in the fourth quarter.
Operator
Your next question comes from Will Greene - Morgan Stanley.
William Greene - Morgan Stanley
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