Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 46

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 46
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.The following table sets forth the computation of the Company’s basic and diluted net loss per unit for the following period:PredecessorPeriod FromJanuary 1, 2023through$ in thousands, except for share and per share dataJune 7, 2023NumeratorNet loss after income tax$(34,176)Net loss attributable to membership interest holders$(34,176)DenominatorWeighted-average number membership interests outstanding, basic and diluted3,766,871 Net loss per unit attributable to membership interest holders, basic and diluted$(9.07)

NOTE 14 — Income TaxesPrior to the Closing Date, NET Power, LLC was considered a pass-through entity for state and federal income taxes. As such, NET Power, LLC’s income or loss was allocated to its partners and no income tax expense (benefit) was recognized.The Company did not have any foreign components of net loss before income taxes during the period from June 8, 2023 through December 31, 2023 (Successor). The following table presents the components of the Company’s net loss before income tax:SuccessorYear Ended$ in thousands December 31, 2024United States$(175,032)Foreign(192)Total net loss before income tax$(175,224)

F-31

Audited Financial Statements of NET Power Inc. - Table of Contents

The following table presents the components of the Company’s current and deferred income taxes:SuccessorPeriod FromJune 8, 2023Year Endedthrough$ in thousands December 31, 2024December 31, 2023Federal     Current tax expense $— $—      Deferred tax benefit10,491 5,542 Total federal10,491 5,542 State and local     Current tax expense — —      Deferred tax benefit89 165 Total state and local89 165 Total$10,580 $5,707 The following table presents the Company’s effective income tax rate:SuccessorPeriod FromJune 8, 2023Year Endedthrough December 31, 2024December 31, 2023U.S. federal statutory rate21.0 %21.0 %Increase (decrease) due to:     State income taxes, net of federal income tax benefit0.1 %0.1 %     Non-controlling interests(13.8)%(14.1)%     Equity transactions—