Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 77

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 77
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forwards

        38,578

        24,653

        Business tax credit carryforwards, net

        3,285

        3,539

        Other

        3,598

        3,780

        Gross deferred tax assets

        312,334

        303,889

        Valuation allowance

        (262
        )

        (286
        )

        Net deferred tax assets

        312,072

        303,603

        Deferred tax liabilities:

        ROU assets

        (230,018
        )

        (208,997
        )

        Goodwill and other intangible assets

        (77,040
        )

        (65,609
        )

        Property and equipment

        (106,083
        )

        (100,103
        )

        Other

        (672
        )

        (551
        )

        Gross deferred tax liabilities

        (413,813
        )

        (375,260
        )

        Total deferred tax liabilities, net
         
        $
        (101,741
        )
         
        $
        (71,657
        )
       
      We had federal and state net operating loss (“NOL”) carryforwards available of $68,705 and $53,876 at December 31, 2024, respectively. The federal NOL carryforwards can be carried forward indefinitely while $24,099 of the state NOL carryforwards have indefinite lives and the remaining amounts will expire between 2030 and 2043. We had federal interest expense carryforwards of $149,265 at December 31, 2024, which can be carried forward indefinitely. We also had state interest expense carryforwards in 12 states where the amounts vary by jurisdiction, which also have indefinite lives. We had federal and state R&D and other business tax credit carryforwards of $2,816 and $1,076 at December 31, 2024, respectively. The federal business tax credit carryforwards can be carried forward for 20 years and will expire between 2039 and 2044. The state R&D and other business tax credit carryforwards can be carried forward for 10 to 20 years and will expire between 2026 and 2036.As noted above, we had deferred tax assets related to both federal and state NOL and interest expense carryforwards. When determining the need for a valuation