Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 119

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 119
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 accounting. The Company also elected not to capitalize leases that have terms of twelve months or less.The Company reviews ROU assets, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. The Company measures recoverability of these assets by comparing the carrying value of such assets to the estimated undiscounted future cash flows the assets are expected to generate. When the estimated undiscounted future cash flows are less than their carrying amount, an impairment loss is recognized equal to the difference between the assets’ fair value and their carrying value.Vendor ConcentrationThere was one vendor that accounted for over 10% of the Company’s consolidated accounts payable as of December 27, 2024. There were no vendors that accounted for over 10% of the Company’s consolidated accounts payable as of December 29, 2023.Research and Development CostsExpenditures for research activities relating to product development and improvement are charged to expense as incurred.Advertising CostsAdvertising costs, which are included in selling and marketing expenses, are expensed as incurred, and were as follows (in thousands): 

          Years Ended

          2024

          2023

          2022

          Advertising costs
           
          $
          34,084

          $
          46,680

          $
          37,918

         Income Taxes The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities, net operating loss and credit carryforwards, and uncertainty in income taxes, on a jurisdiction-by-jurisdiction basis. For each tax entity and tax jurisdiction, the Company presents deferred tax liabilities and assets, as well as any related valuation allowance, as a single non-current amount.  The Company does not offset deferred tax liabilities and assets attributable to different tax entities or to different tax jurisdictions.

F-16

STAAR SURGICAL COMPANY AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 

Note 1 — Organization and Description of Business and Accounting Policies (Continued)Income Taxes (Continued)In evaluating the Company’s ability to recover the deferred tax assets within a jurisdiction from which they arise, management considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. In projecting future taxable income, the Company begins with historical results and incorporates assumptions including