Company: TTMI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024839
Chunk: 152

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 152
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, 2024, respectively. The amount of unrecognized tax benefits that would, if recognized, reduce the Company’s effective income tax rate in any future periods is $921 including interest and penalties. The Company expects its unrecognized tax benefits to decrease by $244 along with related interest of $445 over the next twelve months due to expiring statutes. As of December 30, 2024, the Company is open for (1) U.S. federal income tax examination for the period from 2021 to 2024 and NOL and credit carryforwards are subject to adjustment for three years post utilization; (2) state and local income tax examination for tax years 2020 to 2024 and NOL and credit carryforwards are subject to adjustment for four years post utilization; and (3) foreign income tax examinations generally for tax years from 2014 to 2024.

(10)Segment InformationThe reportable segments shown below are the Company’s segments for which separate financial information is available and upon which operating results are evaluated by the chief operating decision maker (CODM), who is the President and Chief Executive Officer, to assess performance and to allocate resources. They are managed separately because each business manufactures at different stages in the electrical equipment manufacturing value chain and has different margins. The CODM uses segment operating income to allocate resources such as employees and capital resources for each segment during the Company’s annual budgeting and forecasting process. On a quarterly basis, the CODM considers variances in forecast to actual, prior quarter actual to current quarter actual, prior year quarter actual to current quarter actual, and the next quarter forecast to current quarter actual for segment operating income when making decisions about deploying personnel and capital resources to the segments. Separate segment asset measures are not used as a basis for the CODM to evaluate the performance of or to allocate resources to the segments.The PCB reportable segment consists of PCBs, engineered systems using customer-supplied engineering and design plans as well as long-term contracts related to the design and manufacture of highly sophisticated intelligence, surveillance, and communications solutions, components, assemblies, and subsystems. The RF&S Components reportable segment consists of components, assemblies, subsystems, and completed systems which service its RF&S Components and certain aerospace and defense customers. Effective January 1, 2025, the Company changed its organization structure to enhance clarity in sector performance, accountability, and operating costs by clearly allocating resources to either Aerospace and Defense, Commercial, or RF&S Components. To align the new operating model and business structure