Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 556

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 556
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. For the year ended December 31, 2024, the Company utilized federal NOLs of approximately $33.5 million and state NOLs of approximately $17.1 million.The Company is no longer subject to U.S. Federal income tax examinations for years prior to 2021 with the exception that operating loss or tax credit carryforwards generated prior to 2021 may be subject to tax audit adjustment. The Company accounts for uncertain income tax positions pursuant to the guidance in ASC Topic 740, Income Taxes. The Company recognizes interest and penalties related to uncertain tax positions, if any, in Income Tax Expense. Some uncertain income tax position liabilities have been recorded against the Company's deferred income tax assets to offset such tax attribute carryforwards and other positions that cannot be offset by tax attributes until liability has been booked. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (dollars in thousands):Year Ended December 31,202420232022Balance as of January 1$2,149 $4,323 $6,100 Gross increases related to current year tax positions517 112 32 Gross increases related to prior year tax positions3,829 9 — Gross decreases related to prior year tax positions— — (39)Lapse of statute of limitations(655)$(2,295)(1,770)Balance as of December 31$5,840 $2,149 $4,323 The Company does not anticipate a material impact to the financial statements in the next twelve months as a result of a change in liabilities for uncertain tax positions. As of December 31, 2024, $3.5 million of the balance of unrecognized tax benefits was classified as Accounts payable and accrued liabilities.  At December 31, 2023 and 2022, respectively the balance of unrecognized tax benefits was classified as other long term liabilities.All of our liabilities for unrecognized tax benefits would impact the effective tax rate, if recognized.

12. Leases

Office Space and Fleet Vehicle LeasesThe Company has operating leases for its headquarters lease, certain office space, certain office equipment and its fleet vehicles. With respect to the fleet vehicle leases, given the volume of individual leases involved in the overall arrangement, the Company applies a portfolio approach to effectively account for the operating lease assets and liabilities. The Company made an accounting policy election, by class of underlying asset, to combine the lease and non-lease components for the headquarters,