Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 106

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 106
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Federal provision (benefit) at statutory rate $(1,730)$5,970 $(224)U.S./Foreign tax rate differential604 828 2,320 Foreign non-deductible expenses376 (14)(1,084)Foreign tax provision311 821 1,734 State taxes, net of federal benefit (337)(1)(297)State tax rate change, net of federal benefit72 (201)(33)Change in uncertain tax positions(343)209 38 Change in valuation allowance28,769 (21,750)14,776 Tax credits(1,738)(2,284)(1,244)Share-based compensation457 (30)(91)Executive compensation (IRC 162m)38 226 871 Repatriation of foreign earnings1,237 435 1,245 GILTI, net of related foreign tax credit— 142 365 Pension settlement— — 3,394 Other(223)446 (866)Provision (benefit) for income taxes$27,493 $(15,203)$20,904 The provision (benefit) for income taxes for the years ended December 31 follows:202420232022CurrentDeferredTotalCurrentDeferredTotalCurrentDeferredTotalFederal $(289)$19,963 $19,674 $(2,157)$(18,166)$(20,323)$(338)$16,831 $16,493 State and local 56 3,592 3,648 433 (3,355)(2,922)276 4,039 4,315 Foreign3,685 486 4,171 7,220 822 8,042 8,486 (8,390)96 Total$3,452 $24,041 $27,493 $5,496 $(20,699)$(15,203)$8,424 $12,480 $20,904 

54

A summary of deferred income tax assets and liabilities as of December 31 follows:20242023Noncurrent deferred tax assets: Amortization and fixed assets$6,106 $11,070 Inventories2,893 5,184 Pension obligations2,467 2,467 Warranty obligations226 264 Accrued benefits792 1,035 Operating leases9,486 9,858 Tax