Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 63

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 63
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 At December 31, 2024, we had state tax NOLs of approximately $12.3 million that are available to offset future taxable income and that will expire from 2025 to 2043.We recognize accrued interest and penalties related to unrecognized taxes as additional income tax expense. At December 31, 2024 and 2023, we had $1.0 million and $1.8 million, respectively, accrued for potential interest and penalties.

F-36

SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

The total amount of unrecognized tax benefits recorded in other liabilities as of December 31, 2024 and 2023 were $8.6 million and $13.5 million, respectively, excluding associated tax assets and including the federal tax benefit of state taxes, interest and penalties.Tax assets associated with uncertain tax positions primarily represent our estimate of the potential tax benefits in one tax jurisdiction that could result from the payment of income taxes in another jurisdiction. At each of December 31, 2024 and 2023, we had approximately $7.2 million in assets associated with uncertain tax positions recorded in other assets, net in our Consolidated Balance Sheets.A reconciliation of the beginning and ending amount of gross unrecognized tax benefits included as other liabilities in our Consolidated Balance Sheets was as follows:20242023 (Dollars in thousands)Balance at January 1,$17,401 $26,721 Increase based upon tax positions of current year(4,245)8,807 Increase based upon tax positions of a prior year698 625 Decrease based upon settlements with taxing authorities— (15,681)Decrease based upon a lapse in the statute of limitations(993)(3,071)Balance at December 31,$12,861 $17,401 The total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, at December 31, 2024 and 2023 were $12.9 million and $16.7 million, respectively.Silgan and its subsidiaries file U.S. Federal income tax returns, as well as income tax returns in various states and foreign jurisdictions. We expect the Internal Revenue Service, or IRS, will complete its review of the 2023 tax year with no change to our filed tax return.  We have been accepted into the Compliance Assurance Program for the 2024 tax