Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 203

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 203
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 taxed as corporations. Where required or allowed, the corporation subsidiaries file and pay tax in a standalone basis for federal and state income tax purposes. The Company anticipates this structure to remain in existence for the foreseeable future.The provision for income taxes was as follows:SuccessorPredecessorOctober 2, 2024 through December 31, 2024January 1, 2024 through October 1, 2024Year ended December 31, 2023Current Expense:Federal— — — State18 — — Foreign— — — Total Current Expense18 — — Deferred Expense:Federal(3,301)432 — State— — — Foreign— — — Total Deferred Expense(3,301)432 — Total  Expense:$(3,282)$432 $— A reconciliation of the expected statutory federal tax and the total income tax expense (benefit) was as follows:

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Table of ContentsInnventure, Inc. and SubsidiariesNotes to Consolidated Financial Statements(in thousands, except share or per share data)

SuccessorPredecessorOctober 2, 2024 through December 31, 2024January 1, 2024 through October 1, 2024Year ended December 31, 2023Pre-tax book loss$(73,375)$(27,766)$(30,984)Income taxes at federal statutory rate(15,405)— — State taxes, net of federal benefit(1,801)— — Tax on pre-tax earnings of corporate subsidiaries— (3,022)(2,229)Warrant liability3,685 — — Non-deductible expenses6 6 631 Change in earnout fair value(714)— — Other permanent differences(423)— (4)Change in valuation allowance11,664 3,448 1,602 R&D credit(294)— — Total provision (benefit) for income taxes $(3,282)$432 $— Entities within the consolidated group that are considered a corporation for federal income tax purposes, recognize deferred income tax assets and liabilities for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases using currently enacted tax rates in effect for the year in which the differences are expected to reverse. Significant components of deferred tax assets and liabilities as of December