Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 142

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 18
Chunk 142
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2024, management determined that there is sufficient positive evidence to conclude that it is more likely than not that certain of its deferred tax assets outside the U. S. and U. K. were realizable. The valuation allowances that are provided on certain of these non-U. S. and non-U. K. deferred tax assets mainly relate to specific tax losses carried forward due to the uncertainty surrounding their realization.

If events occur in the future that improve the certainty of realization for those deferred assets for which a valuation allowance is recorded as of December 31, 2024, an adjustment to the valuation allowances will be made and consequently income tax expenses will be reduced. The valuation allowance has no impact on its tax loss carryforwards position for tax purposes, and if the Company generates taxable income in future periods, the Company will be able to use its tax loss carryforwards to offset taxes due at that time.

As of December 31, 2024, the Company had loss carryforwards in the UK of approximately $ 115,683 117,033 9,397 107,636 12$ 696 which expire in 2026 if not utilized, in India of approximately $ 3 ly $ 3,950 which expire in 2029 if not utilized. In addition, there is approximately$ 2,297 of US state loss carryforwards which will expire on various dates through 2044 if not utilized.

The Company has no uncertain tax positions as of December 31, 2024 and 2023, respectively. The Company’s policy is to recognize interest and penalties associated with uncertain tax positions as a component of income tax expense. As of December 31, 2024 and 2023, the Company has no accrued interest or penalties related to uncertain tax positions.

The unrecorded deferred tax liability on the Company's undistributed earnings amounted to approximately$ 6,247$ 41,500

Note 18. Employee Benefits Plan

The Company contributes to a number of defined contribution plans which provide benefits based upon the contributions made to the plans. The assets of the plans are held separately from those of the Company in independently administered funds. During the years ended December 31, 2024, 2023 and 2022, the Company's elmTree operating segment incurred contribution costs of $ 2,320,2,301and2,107, respectively, to these plans. Contribution costs of $1,920, $107andnil, respectively, have been included in