Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 2243

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9A
Chunk 2243
---
 December 31, 2023, 2022, and 2021.

The
Company has no open tax audits with any taxing authority as of December 31, 2024.

Note 15
— SEGMENT INFORMATION

ASC
Topic 280: Segment Reporting establishes standards for companies to report in their financial statement information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise
for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker,
or group, in deciding how to allocate resources and assess performance. Accordingly, management has determined that the Company only
has one operating segment and the accounting policies applied to the operating segment are the same as those described in Note 3 –
Summary of Significant Accounting Policies.

The Company’s chief operating decision maker (“CODM”)
has been identified as the senior executive committee that includes the Chief Executive Officer and Chief Financial Officer. They review
the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. The
measure of segment performance is based on consolidated net income (loss) as reported on the statement of operations. The measure of segment
assets is reported on the consolidated balance sheet as total assets.

F-32

The following table reconciles segment profit or loss to consolidated
net income (loss) on the consolidated statements of operations:

    Year Ended December 31, 

    2024  
    2023 
  
    Interest income 
    $932,371  
    $11,541 
  
    Gain on contribution to AirJoule, LLC 
     333,500,000  
     — 
  
    Net change in fair value of liabilities 
     31,536,000  
     — 
  
    Other income 
     2,217,690  
     — 
  
    Less: 

    General and administrative 
     9,042,150  
     7,540,702 
  
    Research and development 
     2,020,388  
     3,305,612 
  
    Transaction costs incurred in connection with business combination 
     54,693,103  
     — 
  
    Income tax expense 
     81,256,047  
     — 
  
    Other segment items (1) 
     5,478,811  
     544,343