Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 499

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 499
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63.2  $629,921   66.5 
 Shipments to or from Mexico   265,386   37.7   296,696   36.6   313,885   33.2 
 Shipments to or from Canada   1,123   0.2   1,559   0.2   3,056   0.3 
                         
 Total  $714,646   100% $810,807   100% $946,862   100%

   Our five largest customers, for which we provide carrier services covering a number of geographic locations, accounted for approximately 39%, 34% and 39% of our total revenues in 2024, 2023 and 2022, respectively. General Motors Company accounted for approximately 12%, 12% and 13% of our revenues in 2024, 2023 and 2022, respectively.
    
   We also provide transportation services to other manufacturers who are suppliers for automobile manufacturers. Approximately 32%, 30% and 31% of our revenues were derived from transportation services provided to the automobile industry during 2024, 2023 and 2022, respectively.
    
   Accounts receivable from the three largest customers totaled approximately $25,384,000 and $24,665,000 at  December 31, 2024 and 2023, respectively.

    11.  DIVIDENDS 

   The Company has paid cash dividends in the past; however, the Company currently intends to retain future earnings and does not anticipate paying cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of the Board and will depend on the Company’s financial condition, results of operations, capital requirements, any legal or contractual restrictions on the payment of dividends, and other factors the Board deems relevant.

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     49 -

    12.  FEDERAL AND STATE INCOME TAXES 

   Under GAAP, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax reporting purposes.
    
   Significant components of the Company’s deferred tax liabilities and assets at  December 31 are as follows:

       2024    2023  
   (in thousands)  
         
 Deferred tax liabilities:         
 Property and equipment