Company: CODI-PB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001345126-25-000015
Chunk: 263

Company: Compass Diversified Holdings
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 263
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.S. exports)$41,665 $(59,397)$20,495 Foreign subsidiaries49,645 37,208 37,086 $91,310 $(22,189)$57,581 

F-45

COMPASS DIVERSIFIED HOLDINGSNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Components of the Company’s income tax provision are as follows:Year ended December 31,(in thousands)202420232022Current taxesFederal$43,115 $25,713 $21,744 State9,402 5,407 5,639 Foreign14,374 11,318 10,961 Total current taxes66,891 42,438 38,344 Deferred taxes:Federal(16,615)(19,151)1,841 State(1,331)(798)2,834 Foreign67 150 (1,652)Total deferred taxes(17,879)(19,799)3,023 Total tax provision$49,012 $22,639 $41,367 The tax effects of temporary differences that have resulted in the creation of deferred tax assets and deferred tax liabilities at December 31, 2024 and 2023 are as follows:December 31,(in thousands)20242023Deferred tax assets:Tax credits$3,411 $5,023 Accounts receivable and allowances1,063 1,093 Net operating loss carryforwards14,662 9,803 Accrued expenses8,133 6,420 Interest expense limitation carryforwards27,095 16,776 Lease liabilities49,988 46,167 Inventory10,911 8,818 Stock based compensation6,050 4,380 Capitalized research & development expenses9,474 4,245 Capital loss on sale of Crosman11,260 — Other1,866 3,568 Total deferred tax assets$143,913 $106,293 Valuation allowance (1)(36,599)(6,816)Net deferred tax assets$107,314 $99,477 Deferred tax liabilities:Intangible assets$(159,174)$(154,025)Property and equipment(22,672)(23,276)Repatriation of foreign earnings(38)(38)Prepaid and other expenses(1,256)(842)Right of use assets(44,122)(40,