Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 35

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 35
---

        209,705

        Deferred - State

        (36,918
        )

        (8,219
        )

        18,612

        $
        (149,075
        )
         
        $
        35,095

        $
        261,061

      In recording deferred income tax assets, the Company considers whether it is more likely than not that its deferred income tax assets will be realized in the future. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those deferred income tax assets would be deductible. The Company believes that after considering all the available objective evidence, historical and prospective, with greater weight given to historical evidence, management is not able to determine that it is more likely than not that all of its deferred tax assets will be realized. As a result, the Company established valuation allowances for its deferred tax assets and U.S. federal and state net operating loss carryforwards that are not expected to be utilized due to the uncertainty of generating taxable income prior to the expiration of the carryforward periods. The Company will continue to assess the valuation allowances against deferred tax assets considering all available information obtained in future periods.

F-20

COMSTOCK RESOURCES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

The tax effects of significant temporary differences representing the net deferred tax liabilities were as follows: 

        As of December 31,

        2024

        2023

        (In thousands)

        Deferred tax assets:

        Interest expense limitation
         
        $
        207,053

        $
        168,604

        Net operating loss carryforwards

        79,628

        106,961

        Unrealized hedging losses

        16,701

        —

        Asset retirement obligation

        6,991

        6,610

        Other

        22,142

        3,784

        332,515

        285,959

        Valuation allowance on deferred tax assets

        (53,687
        )

        (70,184
        )

        Deferred tax assets

        278,828

        215,775

        Deferred tax liabilities:

        Property and equipment

        (621,561
        )

        (653,369
        )

        Unrealized hedging gains

        —

        (26,623
        )