Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 165

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 165
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31, 2026. The tax holiday reduces the statutory tax rate from 25% to 15%. The net impact of the current tax incentives was to lower income tax expense for 2024, 2023, and 2022 by approximately $5.8 million (approximately $0.16 per diluted share), $6.3 million (approximately $0.17 per diluted share) and $9.0 million (approximately $0.25 per diluted share), respectively, as follows: 

        Year EndedDecember 31,

        (in thousands)
         
        2024

        2023

        2022

        Thailand
         
        $
        4,110

        $
        4,923

        $
        8,362

        China

        1,663

        1,338

        643

        Total tax incentives
         
        $
        5,773

        $
        6,261

        $
        9,005

       The Company must determine whether it is “more-likely-than-not” that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured to determine the amount of benefit to recognize in the consolidated financial statements. As of December 31, 2024, the total amount of the reserve for uncertain tax benefits, including interest and penalties, was $7.3 million.A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows: 

        December 31,

        (in thousands)
         
        2024

        2023

        2022

        Balances as of the beginning of the year
         
        $
        9,061

        $
        9,061

        $
        9,121

        Additions related to current year tax positions

        —

        —

        —

        Additions related to prior year tax positions

        —

        —

        —

        Decreases related to prior year tax positions

        (1,775
        )

        —

        —

        Decreases related to lapse of statutes

        —

        —

        (60
        )

        Balances as of the end of the year
         
        $
        7,286

        $
        9,