Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 105

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 105
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3, and December 25, 2022 consist of the following (in thousands):202420232022Current:Federal$(37)$37 $374 State(53)273 373 Foreign— — — Total current income tax expense (benefit)$(90)$310 $747 Deferred:  Federal$— $— $— State— — — Foreign— — — Total deferred income tax expense (benefit)— — — Income tax expense (benefit), net$(90)$310 $747 

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Table of Contents

The reconciliation between the income tax expense (benefit) and the amount of income tax computed by applying the U.S. federal statutory rate to loss before income taxes as shown in the accompanying Consolidated Statements of Operations and Comprehensive Loss for fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 is as follows:202420232022Tax provision at U.S. federal statutory rate21.0 %21.0 %21.0 %State income taxes3.8 4.2 4.0 Valuation allowance on deferred income tax assets(25.6)(22.3)(24.2)Excess stock options(0.8)(3.3)(1.1)Other1.7 (1.1)(0.7)Effective tax rate0.1 %(1.5)%(1.0)%The Company's federal and state deferred taxes at December 29, 2024 and December 31, 2023 are as follows (in thousands):20242023Deferred tax assets:Leasing transactions$104,831 $113,963 General business and other tax credits41,009 40,441 Net operating loss carryover50,688 44,131 Accrued compensation and related costs4,810 5,361 Goodwill7,250 7,244 Stock-based compensation6,423 6,333 Advanced payments — 628 Interest expense15,938 11,345 Property & Equipment8,318 — Other non-current deferred tax assets1,594 2,478 Subtotal240,861 231,924 Valuation allowance(136,595)(119,861)Total$104,266 $112,063 Deferred tax liabilities:Leasing transactions