Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 100

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 100
---
730

        Total before valuation allowance

        129,662

        113,196

        Valuation allowance

        (87,874
        )

        (60,387
        )

        Net deferred income tax assets

        41,788

        52,809

        Deferred income tax liabilities:

        Hedging and foreign currency gains (losses)

        (1,498
        )

        —

        Intangibles, property, plant and equipment and other

        —

        —

        Unremitted earnings

        (2,349
        )

        (2,499
        )

        Deferred income tax liabilities

        (3,847
        )

        (2,499
        )

        Net deferred income tax assets
         
        $
        37,941

        $
        50,310

      The classification of the Company's net deferred tax asset is shown below:  

        Year Ended December 31,
         
        2024

        2023

        Long-term deferred income tax assets
         
        $
        39,046

        $
        52,213

        Long-term deferred income tax liabilities

        (1,105
        )

        (1,903
        )

        Net deferred tax asset
         
        $
        37,941

        $
        50,310

      As of December 31, 2024, the Company has cumulative tax effected Germany NOL carryforwards of $32.7 million that carryforward indefinitely and U.S. state NOL carryforwards of $8.8 million that expire in the years 2025 to 2044. Also, the Company has $13.6 million of U.S. tax credit carryforwards, $3.2 million that expire in the years 2036 to 2044 and $10.4 million expiring in the years 2029 to 2034. As of December 31, 2022, substantially all U.S. and German deferred tax assets net of deferred tax liabilities, were subject to valuation allowances. The Company had previously concluded that if financial results continued to improve, the assessment of the realization of net deferred tax assets could result in the release of some or all of the valuation allowances. As of December 31, 2023, sufficient positive evidence became available and $24.8 million of the valuation allowances against U.S. net deferred tax assets were released. As of December 31,