Company: NSP
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001000753-25-000008
Chunk: 116

Company: INSPERITY, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 116
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 assets68 53 Net deferred tax assets$34 $20 

 F-232024   Form 10-K

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The components of income tax expense are as follows:Year Ended December 31,(in millions)202420232022 Current income tax expenseFederal$41 $49 $62 State8 9 15 Total current income tax expense49 58 77 Deferred income tax benefitFederal(11)(3)(9)State(3)(1)(2)Total deferred income tax benefit(14)(4)(11)Total income tax expense$35 $54 $66 The reconciliation of income tax expense computed at U.S. federal statutory tax rates to the reported income tax expense from continuing operations is as follows:Year Ended December 31,(in millions)202420232022Expected income tax expense at 21%$26 $47 $52 State income taxes, net of federal benefit4 7 10 Nondeductible expenses5 5 4 Equity compensation, net1 (4)1 Research and development credit(1)(1)(1)Reported total income tax expense$35 $54 $66 At December 31, 2024, we had net operating loss carryforwards totaling $1 million that expire from 2026 to 2030 related to an acquisition that occurred in 2010.We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2024, 2023 and 2022, we had no uncertain tax positions, and as a result, have made no provisions for interest or penalties related to uncertain tax positions. The tax years 2021 through 2023 remain open to examination by the Internal Revenue Service of the United States. The tax years 2020 through 2023 remain open to examination by various state tax authorities.

8.Stockholders' EquityDuring 2024, we repurchased or withheld an aggregate of 697,177 shares of our common stock, as described below.Repurchase ProgramOur Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases may be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During 2024, 516,798 shares were repurchased under the