Company: HLI
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001302215-25-000024
Chunk: 121

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-05-15
Form: 10-K
Item: Item 9
Chunk 121
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15,065 16,116 4,819 Foreign43,792 32,814 1,875      Subtotal132,581 89,768 73,223 Deferred:Federal(7,593)14,116 1,605 State and local1,114 3,498 1,092 Foreign5,522 2,856 (6,143)Subtotal(957)20,470 (3,446)Total$131,624 $110,238 $69,777 The provision for income taxes on operations for the years ended March 31, 2025, 2024, and 2023 is reconciled to the income taxes computed at the statutory federal income tax rate (computed by applying the federal corporate rate of 21% to consolidated operating income before provision for income taxes) as follows:Year Ended March 31,202520242023Federal income tax provision computed at statutory rate$111,580 21.0 %$82,013 21.0 %$68,040 21.0 %State and local taxes, net of federal tax effect21,297 4.0 %20,027 5.1 %16,609 5.1 %Tax impact from foreign operations12,535 2.4 %7,922 2.0 %(5,040)(1.5)%Nondeductible expenses14,313 2.7 %9,133 2.4 %9,396 2.9 %Stock compensation(20,387)(3.8)%(7,468)(1.9)%(8,044)(2.5)%Uncertain tax positions, true-up items, and other(7,714)(1.5)%(1,389)(0.4)%(11,184)(3.5)%Total$131,624 24.8 %$110,238 28.2 %$69,777 21.5 %

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(In thousands, except share data or as otherwise stated)

Deferred income taxes arise principally from temporary differences between book and tax recognition of income, expenses, and losses relating to financing and other transactions. The deferred income taxes on the accompanying Consolidated