Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 73

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 73
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2, were $1.2 million, $1.1 million, and $1.1 million, respectively.

F-38

Deferred Compensation PlansUnder Italian Law, our Italian subsidiary accrues deferred compensation on behalf of its employees, which is paid on termination of employment. The accrual for deferred compensation is based on a percentage of the employee’s current annual remuneration plus an annual charge. Deferred compensation is also accrued for the leaving indemnity payable to agents in case of dismissal, which is regulated by a national contract and is equal to approximately 4% of total commissions earned from the Company. The Company’s relations with its Italian employees, who represent 14% of total employees at December 31, 2024, are governed by the provisions of a National Collective Labor Agreement setting forth mandatory minimum standards for labor relations in the metal mechanic workers industry. The Company is not a party to any other collective bargaining agreement. The liability is recorded within other long-term liabilities as of December 31, 2024, and 2023, and totaled $1.7 million and $1.7 million, respectively. This represents the amount that would be payable if all the employees and agents had terminated employment at that date.

20.	Income taxesIncome (loss) before provision for income taxes consisted of the following: 

        Year Ended December 31,

        (U.S. Dollars, in thousands)
         
        2024

        2023

        2022

        U.S.
         
        $
        (113,197
        )
         
        $
        (154,794
        )
         
        $
        (22,318
        )

        Non-U.S.

        (10,678
        )

        6,115

        4,612

        Loss before income taxes
         
        $
        (123,875
        )
         
        $
        (148,679
        )
         
        $
        (17,706
        )
       
       The provision for income taxes consists of the following:  

        Year Ended December 31,

        (U.S. Dollars, in thousands)
         
        2024

        2023

        2022

        U.S.

        Current
         
        $
        (590
        )
         
        $
        17

        $
        1,151

        Deferred

        1,572

        1,160

        67