Company: CODI-PB
Filing Date: 2025-12-08
Form Type: 10-K/A
Source: 0001345126-25-000078
Chunk: 308

Company: Compass Diversified Holdings
Filing Date: 2025-12-08
Form: 10-K/A
Chunk 308
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31, 2024, 2023 and 2022, the Company had foreign tax credit carryforwards of $ 2.0million, $ 2.8million and $ 6.4million, respectively. The foreign tax credit carryforwards will expire beginning in 2031 if not utilized. As of December 31, 2024, 2023 and 2022, the Company had state tax credit carryforwards, consisting mostly of California business tax credits of $ 0.8million, $ 1.1million and $ 3.4million, respectively. The California business tax credit carryforwards will expire, if not utilized, beginning in 2025.

As of December 31, 2024, 2023 and 2022, the Company had a valuation allowance related to the realization of domestic and foreign net operating losses, domestic and foreign tax credits and the limitation on the deduction of interest expense of $ 182.0million, $ 84.3million and $ 50.1million, respectively. A valuation allowance is provided whenever it is more likely than not that some or all of deferred assets recorded may not be realized.

The reconciliation between the Federal Statutory Rate and the effective income tax rate for 2024, 2023 and 2022 are as follows:

|                                                          |     | Year ended December 31, |  2024 |   |     |              |  2023 |   |     |              |  2022 |   |
|:---------------------------------------------------------|:----|:------------------------|------:|:--|:----|:-------------|------:|:--|:----|:-------------|------:|:--|
|                                                          |     | -As Restated            |       |   |     | -As Restated |       |   |     | -As Restated |       |   |
| United States Federal Statutory Rate                     |     |                         |  21.0 | % |     |              |  21.0 | % |     |              |  21.0 | % |
| State income taxes (net of Federal benefits)             |     |                         |   3.1 |   |     |              |   1.6 |   |     |              |   2.3 |   |
| Foreign income taxes                                     |     |                         |  -1.3 |   |     |              |  -1