Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 187

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 187
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% and 13% of our revenues in 2024, 2023 and 2022, respectively.
    
   We also provide transportation services to other manufacturers who are suppliers for automobile manufacturers. Approximately 32%, 30% and 31% of our revenues were derived from transportation services provided to the automobile industry during 2024, 2023 and 2022, respectively.
    
   Accounts receivable from the three largest customers totaled approximately $25,384,000 and $24,665,000 at  December 31, 2024 and 2023, respectively.

    11.  DIVIDENDS 

   The Company has paid cash dividends in the past; however, the Company currently intends to retain future earnings and does not anticipate paying cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of the Board and will depend on the Company’s financial condition, results of operations, capital requirements, any legal or contractual restrictions on the payment of dividends, and other factors the Board deems relevant.

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     49 -

    12.  FEDERAL AND STATE INCOME TAXES 

   Under GAAP, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax reporting purposes.
    
   Significant components of the Company’s deferred tax liabilities and assets at  December 31 are as follows:

       2024    2023  
   (in thousands)  
         
 Deferred tax liabilities:         
 Property and equipment  $89,960  $101,623 
 Unrealized gains on securities   3,987   3,282 
 Prepaid expenses and other   2,880   3,303 
         
 Total deferred tax liabilities   96,827   108,208 
         
 Deferred tax assets:         
 Current expected credit losses   1,708   1,986 
 Compensated absences   -   168 
 Self-insurance allowances   1,063   1,674 
 Interest   1,509   - 
 Other   -   49 
         
 Total deferred tax assets   4,280   3,877 
         
 Net deferred tax liability  $92,547  $104,331 

   The reconciliation between the effective income tax rate and the statutory Federal income tax rate for