Company: UIS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000746838-25-000008
Chunk: 120

Company: UNISYS CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 120
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Following is a reconciliation of the benefit for income taxes at the United States statutory tax rate to the provision for income taxes as reported:Year ended December 31,202420232022U.S. statutory income tax benefit$(15.8)$(73.0)$(13.2)Income and losses for which no provision or benefit has been recognized63.0 123.2 40.9 Foreign rate differential and other foreign tax expense8.9 12.7 6.4 Income tax withholdings23.0 14.0 19.7 Additional tax expense on undistributed earnings of certain foreign subsidiaries27.3 — — Permanent items1.2 (3.0)(2.1)Change in uncertain tax positions1.3 3.8 0.4 Change in valuation allowances7.9 2.1 (9.8)U.S. income tax benefit— (0.6)— Other1.1 0.1 — Provision for income taxes$117.9 $79.3 $42.3 

63

The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities were as follows:As of December 31,20242023Deferred tax assetsTax loss carryforwards$787.6 $813.0 Pension and postretirement benefits196.5 183.0 Foreign tax credit carryforwards61.9 83.6 Other tax credit carryforwards29.5 29.1 Deferred revenue48.2 31.9 Employee benefits and compensation31.2 31.5 Purchased capitalized software18.4 19.4 Depreciation28.6 33.0 Warranty, bad debts and other reserves2.9 7.6 Capitalized costs9.3 9.0 Capitalized research and development6.7 — Other76.0 57.6 1,296.8 1,298.7 Valuation allowance(1,168.6)(1,150.1)Total deferred tax assets$128.2 $148.6 Deferred tax liabilitiesUndistributed earnings of certain foreign subsidiaries$27.7 $— Capitalized research and development— 10.4 Other32.6 25.1 Total deferred tax liabilities$60.3 $