Company: EME
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000105634-25-000015
Chunk: 128

Company: EMCOR Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 128
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, foreign net operating losses, and foreign income tax credit carryovers, was approximately $5.1 million and $4.4 million, respectively. The increase in our valuation allowances at December 31, 2024 was a result of the recognition of allowances for additional state net operating loss carryovers that we determined we would likely not be able to utilize. 

Realization of our deferred income tax assets is dependent on our generating sufficient taxable income in the jurisdictions in which such deferred tax assets will reverse. Although realization is not assured, based on current projections of future taxable income, we believe it is more likely than not that the deferred income tax assets, net of the valuation allowances discussed above, will be realized. However, revisions to our forecasts or declining macroeconomic conditions could result in changes to our assessment of the realization of these deferred income tax assets. 

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Table of ContentsEMCOR Group, Inc. and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 12 - COMMON STOCK

As of December 31, 2024 and 2023, there were 45,810,125 and 47,047,265 shares of our common stock outstanding, respectively.We have paid quarterly dividends since October 25, 2011. We currently pay a regular quarterly dividend of $0.25 per share. 

In September 2011, our Board of Directors (the “Board”) authorized a share repurchase program allowing us to begin repurchasing shares of our outstanding common stock. Subsequently, the Board has from time to time increased the amount authorized for repurchases under such program. Since the inception of the repurchase program, through December 31, 2024, the Board has authorized us to repurchase up to $2.65 billion of our outstanding common stock. During the year ended December 31, 2024, we repurchased approximately 1.3 million shares of our common stock for approximately $501.6 million, inclusive of the applicable excise tax. Since the inception of the repurchase program through December 31, 2024, we have repurchased approximately 27.1 million shares of our common stock for approximately $2.39 billion. As of December 31, 2024, there remained authorization for us to repurchase approximately $259.5 million of our shares. The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended,