Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 175

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 175
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 judgments required in the development of forecasts and certain assumptions related to the projected sales growth, margins, costs and income by jurisdiction that are used to assess the realizability of deferred tax assets. Auditing these elements involved especially subjective and complex auditor judgment due to the nature of audit evidence and extent of audit effort required to address these matters, including the need to involve personnel with specialized knowledge and skills.  

The primary procedures we performed to address this critical audit matter included:

•Assessing the reasonableness of the Company’s projected forecasts and certain related assumptions against the Company’s historical performance, industry-wide performance, macro-economic factors, and evidence obtained in other areas of the audit.

•Utilizing personnel with specialized knowledge and skills in domestic and international tax law to assist in: (i) evaluating the application of tax laws used in management’s allocation methodologies based on the Company’s structure and operations, (ii) evaluating the appropriateness of the transfer pricing positions taken by assessing the intercompany transactions and the rates used to cross charge and allocate costs based on transfer pricing agreements, and (iii) evaluating both positive and negative evidence and assessing the reasonableness of certain assumptions used in the Company’s valuation allowance assessment.

/s/ BDO USA, P.C.

We have served as the Company's auditor since 1993.

Los Angeles, California 

February 21, 2025

F-3

STAAR SURGICAL COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

December 27, 2024 and December 29, 2023

(In thousands, except par value amounts)

    2024

    2023

    ASSETS

    Current assets:

    Cash and cash equivalents
     
    $
    144,159

    $
    183,038

    Investments available for sale (amortized cost basis of $86,346 and    $37,843 at December 27, 2024 and December 29, 2023, respectively)

    86,335

    37,688

    Accounts receivable trade, net of allowance for credit losses of $32   and $191 at December 27, 2024 and December 29, 2023, respectively

    77,897

    94,704

    Inventories, net

    43,305

    35,130

    Prepayments, deposits and other current assets

    16,244