Company: PSEWF
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0000950170-25-032340
Chunk: 107

Company: Paysafe Ltd
Filing Date: 2025-03-04
Form: 20-F
Item: Item 5
Chunk 107
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 and other costs

Restructuring and other costs decreased $883, or 14.6%, to $5,178 for the year ended December 31, 2024 from $6,061 for the year ended December 31, 2023. The decrease was primarily driven by lower acquisition related costs in the current year.

Loss on disposal of subsidiaries and other assets, net

Loss on disposal of subsidiaries and other assets, net increased by $415, or 107.5%, to $801 for the year ended December 31, 2024 compared to $386 for the year ended December 31, 2023. The loss in both periods relates to the loss on disposal of non-financial assets.

Other income, net

Other income, net increased $8,394, or 64.2%, to an income of $21,475 for the year ended December 31, 2024 from an income of $13,081 for the year ended December 31, 2023. The increase was primarily driven by a foreign exchange gain of $11,316 in the current year compared to a foreign exchange loss of $7,434 in the prior year offset partially by a decrease in the gain on debt repurchases of $9.062 due to less debt repurchased.

Interest expense, net

Interest expense, net decreased by $10,343, or 6.8%, to $140,805 for the year ended December 31, 2024 from $151,148 for the year ended December 31, 2023. The decrease in interest expense, net was mainly due to the benefit of ongoing debt repurchases.

Income tax expense / benefit

Income tax benefit was $8,136 for the year ended December 31, 2024 compared to an income tax expense of $40,840 for the year ended December 31, 2023. The U. K. tax rate for 2024 was 25%. The effective tax rate of (58.0)% for the year ended December 31, 2024 is lower than the UK statutory tax rate due to movements in valuation allowance on restricted interest carryforwards and tax loss carryforwards, foreign income taxed at lower tax rates, and reduction in uncertain tax positions.

The effective tax rate for the year ended December 31, 2023 was 198.4%. The change in the effective tax rate for the year ended December 31, 2024 compared to year ended December 31,