Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 1201

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 1A
Chunk 1201
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 changes in the amount of gross unrecognized tax benefits were as follows (in thousands):

       2025    2024    2023  
 Beginning Balance  $9,766  $9,493  $9,559 
 Additions based on tax positions related to the current year   1,108   273   - 
 Additions for tax positions of prior years   -   -   219 
 Reductions for tax positions of prior years   -   -   (208)
 Statute lapses   (7,961)  -   (77)
 Ending Balance  $2,913  $9,766  $9,493 

       48

   At  June 30, 2025, we had $2.9 million of non-current liabilities, included in accrued pension and other non-current liabilities on the consolidated balance sheet for uncertain tax positions. We are not able to provide a reasonable estimate of the timing of future payments related to these obligations. The Company increased its uncertain tax position during the year due to state R&D tax credit exposures. The Company decreased its uncertain tax position during the year due to the statute of limitations lapsing on the Sec. 965 toll tax position that was established in prior years.
    
   If the unrecognized tax benefits in the table above were recognized in a future period, $2.9 million of the unrecognized tax benefit would impact the Company’s effective tax rate. The Company expects a decrease in net unrecognized tax benefits of approximately $0.9 million in the next twelve months as a result of the lapse in the statute of limitations. 
    
   Within the next twelve months, the statute of limitations will close in various U.S., state and non-U.S. jurisdictions. The following tax years, in the major tax jurisdictions noted, are open for assessment or refund:

     Country   Years Ending June 30,  
 United States   2022 to 2025 
 Canada   2021 to 2025 
 Germany   2021 to 2025 
 Ireland   2024 to 2025 
 Portugal   2023 to 2025 
 United Kingdom   2021 to 2025 

     The Company’s policy is to include interest expense and penalties related to unrecognized tax benefits within the provision for income taxes on the consolidated statements of operations.  At
     June 30,