Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 176

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 176
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, the Company acquired the remaining 10% for $12.0 million.Vital RiverThe Company held a 92% ownership interest in Vital River, a commercial provider of research models and related services in China as of December 31, 2022. The Company had the right to purchase, and the noncontrolling interest holders had the right to sell, the remaining 8% equity interest at a contractually defined redemption value, subject to a redemption floor. The amount that the Company could be required to pay to purchase the remaining 8% equity interest was not limited. During 2023, the Company acquired the remaining 8% and paid $4.8 million of the total $24.4 million due. The remaining purchase price payable was included in Accrued liabilities within the Company’s consolidated balance sheets as of December 28, 2024 and December 30, 2023 and is expected to be paid during fiscal year 2025. Nonredeemable Noncontrolling InterestThe Company has an investment in an entity whose financial results are consolidated in the Company’s financial statements, as it has the ability to exercise control over this entity. The interest of the noncontrolling party in this entity has been recorded as noncontrolling interest within Equity in the accompanying consolidated balance sheets. The activity within the nonredeemable noncontrolling interest (net income less dividends declared) during fiscal years 2024, 2023, and 2022 was not material.

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

13. INCOME TAXES 

The components of income from operations before income taxes and the related provision for income taxes are presented below: Fiscal Year 202420232022(in thousands)Income before income taxes:   U.S. $(290,308)$185,667 $280,075 Non-U.S. 383,422 395,617 342,912 Total income before income taxes$93,114 $581,284 $622,987 Income tax provision (benefit):   Current:   Federal$36,349 $49,090 $75,052 Foreign86,493 85,356 68,644 State12,175 17,817 19,790 Total current135,017 152,263 163,486 Deferred:   Federal(50,555