Company: AGIO
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001439222-25-000009
Chunk: 858

Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 12
Chunk 858
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5,263,681 5,772,564 Restricted stock units95,679 1,346,701 1,117,921 Performance-based stock units— 145,023 — Employee Stock Purchase Plan shares3,987 48,713 42,026 Total4,025,996 6,804,118 6,932,511 

Note 11. Income Taxes

The domestic and foreign components of income (loss) before income taxes are as follows:(In thousands)202420232022Domestic$717,967 $(352,085)$(231,767)Foreign2 (3)(34)Total$717,969 $(352,088)$(231,801)We did not have any provision for income taxes for the years ended December 31, 2023 and 2022.A reconciliation of the expected income tax expense (benefit) computed using the federal statutory income tax rate to our effective income tax rate is as follows for the years ended December 31, 2024, 2023 and 2022:202420232022Federal statutory tax rate21.0 %21.0 %21.0 %State taxes, net of federal benefit1.6 %1.9 %2.9 %Change in valuation allowance(14.5)%(23.8)%(25.7)%General business credits and other credits(2.6)%4.2 %5.2 %Permanent differences and other adjustments0.6 %(2.8)%(2.3)%Stock based compensation0.1 %(0.5)%(1.1)%Total6.2 %— %— %

F-24

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities for the years ended December 31, 2024 and 2023 are as follows:(In thousands)20242023Deferred tax assets:Net operating loss carryforwards$26,492 $64,066 Tax credit carryforwards83,994 180,635 Purchased intangible assets12,713 14,155 Stock-based compensation21,090 20,954 Operating lease liability13,023 16,780 Non-deductible accruals and reserves, including inventory8,635