Company: SVV
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001883313-25-000013
Chunk: 102

Company: Savers Value Village, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 102
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 to the respective adjustments in determining Adjusted net income and Adjusted net income per diluted share. Effective fiscal year 2025, the Company will utilize the tax rate specifically applicable to the respective adjustments. Details of these changes and a reconciliation of the definitions prior to fiscal year 2025 to the go-forward definition is presented in the table and related footnotes below. 

A reconciliation of GAAP net income and GAAP net income per diluted share to Adjusted net income and Adjusted net income per diluted share is presented in the table below:

Fiscal Year(in thousands, except per share amounts)20242023Net income:Net income$29,030$53,115Loss on extinguishment of debt(1)(2)4,08816,626IPO-related stock-based compensation expense(1)(3)54,98169,108Transaction costs(1)(4)2,6213,103Dividend-related bonus(1)(5)—24,097Loss (gain) on foreign currency, net(1)14,294(6,660)Executive transition costs(1)(6)689—Other adjustments(1)(7)4,312(3,260)Tax effect on adjustments(8)(33,447)(29,874)Excess tax benefit from stock-based compensation(2,321)—Non-recurring tax benefit(9)—(31,340)Adjusted net income, as defined through fiscal year 202474,24794,915Tax effect on adjustments(8)33,44729,874Tax effect on adjustments, as defined beginning fiscal year 2025(10)(10,810)(15,734)Adjusted net income, as defined beginning fiscal year 2025$96,884$109,055Net income per share, diluted:Net income per share, diluted$0.17$0.34Loss on extinguishment of debt(1)(2)0.020.11IPO-related stock-based compensation expense(1)(3)0.330.44Transaction costs(1)(4)0.020.02Dividend-related bonus(1)(5)—0.15Loss (gain) on foreign currency, net(1)0.09(0.04)Executive transition costs(1)(6)——Other adjustments(1)(7)0.03(0.02)Tax effect on adjustments(8)(0.20)(0.19)Excess tax benefit from stock-based compensation(0.01)—Non-recurring tax benefit(