Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 61

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 61
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420232022 (Dollars in thousands)Current:Federal$39,590 $10,847 $99,760 State7,927 (529)23,915 Foreign57,515 52,730 41,797 Current income tax provision105,032 63,048 165,472 Deferred:Federal(15,847)29,337 (27,681)State(2,218)7,957 (8,916)Foreign(14,990)(4,186)4,416 Deferred income tax (benefit)  provision  (33,055)33,108 (32,181)$71,977 $96,156 $133,291 The provision for income taxes varied from income taxes computed at the statutory U.S. federal income tax rate as a result of the following:202420232022 (Dollars in thousands)Income taxes computed at the statutory    U.S. federal income tax rate$73,011 $88,646 $99,569 State income taxes, net of federal tax benefit2,551 5,551 12,815 Tax liabilities no longer required (2,838)(4,071)(2,142)Valuation allowance11,291 2,287 16,635 Tax credit refunds, net(5,098)(2,684)(5,081)Foreign earnings taxed at other than 21%(4,144)9,993 5,126 Deferred tax rate changes1,326 (3,133)(1,276)European Commission settlement— — 5,313 Other(4,122)(433)2,332 $71,977 $96,156 $133,291 Effective tax rate20.7 %22.8 %28.1 %

F-35

SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

Deferred income taxes reflect the net tax effect of temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Significant components of our deferred tax assets and liabilities at December 31 were as follows:20242023 (Dollars in thousands)Deferred tax assets:Pension and other postretirement liabilities$15,621 $17,093 Rationalization and