Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 161

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 161
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 million of foreign tax benefits attributable to equity awards for the years ended December 31, 2023 and 2022, respectively.

92

Note 14 – Income Taxes 

The components of loss before income taxes were as follows (in thousands):Year Ended December 31,202420232022United States$126,341 $62,745 $(41,534)International(1,643)(2,236)(5,877)$124,698 $60,509 $(47,411)The components of the total provision for (benefit from) income taxes were as follows (in thousands):Year Ended December 31,202420232022CurrentFederal$4,474 $272 $— State3,872 859 316 Foreign3,361 1,844 564 Total current tax expense11,707 2,975 880 DeferredFederal(35,071)202 (12,709)State(17,791)100 (1,503)Foreign(1,912)(1,827)(188)Total deferred tax provision(54,774)(1,525)(14,400)Total provision for (benefit from) income taxes$(43,067)$1,450 $(13,520)A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2024, 2023, and 2022 was as follows:Year Ended December 31,202420232022Federal statutory income tax rate21.0 %21.0 %21.0 %State tax, net of federal benefit(11.8)%2.7 %(1.2)%Federal tax credits(2.5)%(9.8)%10.0 %De-recognized tax credit carryforwards2.6 %— %— %Unrecognized tax benefit remeasurement4.3 %— %— %Change in valuation allowance(53.2)%(13.8)%(1.8)%Foreign tax differential0.9 %2.0 %(2.3)%Windfall tax benefits, net related to stock-based compensation1.8 %4.1 %1.1 %Nondeductible officer compensation3.9 %6.8 %(11.1)%Nondeductible transaction costs— %0.3 %(1.5)%