Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 125

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 125
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 negative evidence in its analysis. This includes existing profits in foreign jurisdiction as well as projected future profits. Under the incremental cash tax savings approach, the total net deferred assets represent the Company’s net cash tax savings and benefit at December 27, 2024.Under the incremental cash tax savings approach, the deferred tax asset valuation allowance activity was as follows (in thousands):   

        Years Ended

        2024

        2023

        2022

        Balance at beginning of period
         
        $
        (42,744
        )
         
        $
        (46,977
        )
         
        $
        (62,860
        )

        Release (recapture) due to incremental cash tax savings

        (4,456
        )

        (3,318
        )

        910

        Current year change due to deferred tax asset realization

        396

        7,551

        14,973

        Balance at end of period
         
        $
        (46,804
        )
         
        $
        (42,744
        )
         
        $
        (46,977
        )
       
      As of December 27, 2024, the Company had U.S. net operating loss (“NOL”) carryforwards consisting of the following (in thousands): 

        2024

        Expiration Date

        Pre-2018 federal NOL carryforwards
         
        $
        49,783

        will begin to expire in 2027

        Post-2018 federal NOL carryforwards

        124,895

        indefinite

        State NOL carryforwards

        54,184

        will begin to expire in 2025

        Post-2020 State NOL carryforwards that follow the federal NOL

        2,297

        indefinite

F-26

STAAR SURGICAL COMPANY AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 

Note 9 — Income Taxes (Continued)Deferred Tax Assets and Liabilities (Continued)As of December 27, 2024, the Company had U.S. tax credit carryforwards consisting of the following (in thousands): 

        2024

        Expiration Date

        Federal credit carryforwards
         
        $
        2,056

        will begin to expire