Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 757

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 8F
Chunk 757
---
 791

        Net operating losses

        11,136

        15,474

        Section 163j

        5,910

        —

        Loyalty program

        654

        1,089

        Total gross deferred tax assets

        116,649

        115,257

        Less: Valuation allowance

        (10,082
        )
         
        $
        —

        Deferred tax assets, net of valuation allowance
         
        $
        106,567

        $
        115,257

        Deferred tax liabilities:

        Depreciation
         
        $
        (28,676
        )
         
        $
        (35,872
        )

        ROU asset

        (77,701
        )

        (77,654
        )

        Prepaid expenses

        (1,330
        )

        (1,226
        )

        Total gross deferred tax liabilities

        (107,707
        )

        (114,752
        )

        Net deferred tax (liability) asset
         
        $
        (1,140
        )
         
        $
        505

       As of February 1, 2025, the Company had a federal net operating loss (“NOL”) carryforward of $42,647 with no expiration period.  In addition, the Company has federal credit carryforwards of $920 which begin to expire in 2044.  The Company continues to evaluate the possibility of an ownership change in accordance with Internal Revenue Code Section 382, which could limit the utilization of their NOL and credit carryforwards each year.  In general terms, an ownership change results from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50 percent over a three-year period.  As of February 1, 2025, the Company is not aware of any such ownership change. As of February 1, 2025, the Company had state NOL carryforwards of $15,409 with no expiration period and state NOL carryforwards of $26,813 which expire beginning in 2032 through 2044.  In addition, the Company has state credit carryforwards of $200 which begin to expire in 2038.In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The