Company: NPO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001164863-25-000009
Chunk: 275

Company: Enpro Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1A
Chunk 275
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, we had $6.6 million and $5.0 million, respectively, of gross unrecognized tax benefits. Of the gross unrecognized tax benefit balances as of December 31, 2024 and 2023, $4.4 million and $4.1 million, respectively, would have an impact on our effective tax rate if ultimately recognized.We record interest and penalties related to unrecognized tax benefits in income tax expense. In addition to the gross unrecognized tax benefits above, we had $1.6 million and $1.4 million accrued for interest and penalties at December 31, 2024 and 2023, respectively. Income tax expense for the year ended December 31, 2024 includes less than $0.1 million of interest and penalties related to unrecognized tax benefits.  Income tax expense for the years ended December 31, 2023, and 2022 included $0.2 million and $(0.2) million, respectively, for adjustments to interest and penalties related to unrecognized tax benefits.A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits (excluding interest) is as follows:

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(in millions)202420232022Balance at beginning of year$5.0 $4.5 $5.5 Additions based on current period tax positions0.4 0.5 0.2 Additions based on prior period tax positions3.9 0.2 (0.2)Reductions as a result of a lapse in the statute of limitations(2.7)(0.2)(1.0)Balance at end of year$6.6 $5.0 $4.5 U.S. federal income tax returns for tax years 2021 and forward remain open to examination.  We and our subsidiaries are also subject to income tax in multiple state, local and foreign jurisdictions. Substantially all significant state, local and foreign income tax returns for certain years beginning in 2019 and forward are open to examination. Various state and foreign tax returns are currently under examination. We expect that some of these examinations may conclude within the next twelve months, however, the final outcomes are not yet determinable.  In addition, gross unrecognized tax benefits may be reduced by $1.6 million within the next twelve months as the applicable statute of limitations expire.

5.Earnings Per ShareBasic earnings per share is computed by dividing the income by the applicable weighted-average number of common shares outstanding for the period. Dil