Company: AMWL
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000950170-25-019024
Chunk: 220

Company: American Well Corp
Filing Date: 2025-02-12
Form: 10-K
Item: Item 1B
Chunk 220
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ibles

        (15,800
        )

        (20,879
        )

        Right-of-use assets

        (1,878
        )

        (2,738
        )

        Other

        (2,006
        )

        (1,902
        )

        Total deferred tax assets (liabilities)

        (20,525
        )

        (26,573
        )

        Net deferred tax liabilities
         
        $
        (1,024
        )
         
        $
        (1,298
        )

F-28

The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. Management has considered the Company's history of cumulative net losses incurred in the U.S. since inception and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets. Accordingly, a full valuation allowance has been established against the net domestic deferred tax assets as of December 31, 2024, 2023 and 2022. Management reevaluates the positive and negative evidence at each reporting period. Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024, 2023 and 2022 related primarily to the increase in net operating loss carryforwards in 2024, 2023 and 2022 and were as follows:  

        Years Ended December 31,

        2024

        2023

        2022

        Valuation allowance as of beginning of the year
         
        $
        263,001

        $
        214,776

        $
        164,391

        Increases recorded to income tax provision

        50,146

        48,225

        50,403

        Decreases recorded as a benefit to income tax provision

        —

        —

        (18
        )

        Valuation allowance as of end of year
         
        $
        313,147

        $
        263,001

        $
        214,776

      As of December 31, 2024, the Company has federal net operating loss carryforwards of approximately $985,956, which begin to expire in 2026. The Company’s federal net operating losses generated for the years ended after December 31, 2017, which amounted to a total of $757,416, can be carried forward indefinitely. The Company has tax effected state