Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 80

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 80
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26,538 Total undiscounted lease payments1,574 57,697 Less: Imputed interest(15)(9,013)Total net lease liability$1,559 $48,684 

6    INCOME TAXES

 The U.S. and foreign income before income taxes for the respective years consisted of the following: 202520242023United States$(11,745)$(32,560)$16,070 Foreign2,466 2,698 9,754  $(9,279)$(29,862)$25,824 Income tax expense for the respective years consisted of the following:

F-23

 202520242023Current:   Federal$1,595 $159 $7,631 State597 40 2,267 Foreign2,193 1,618 3,286 Deferred20,630 (5,146)(6,894) $25,015 $(3,329)$6,290 The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at the end of the respective years are presented below: 20252024Deferred tax assets:  Inventories$5,139 $6,126 Compensation5,437 4,386 Lease liabilities10,299 10,746 Tax credit carryforwards1,670 2,272 Net operating loss carryforwards9,407 5,374 Research and Experimental Expenditures12,881 8,846 Other7,820 7,510 Total gross deferred tax assets52,653 45,260 Less valuation allowance35,725 6,367 Deferred tax assets16,928 38,893 Deferred tax liabilities:  Goodwill and other intangibles2,200 1,395 Right of Use assets9,806 10,316 Depreciation and amortization3,097 4,941 Foreign statutory reserves812 734 Net deferred tax assets$1,013 $21,507  The net deferred tax assets recorded in the accompanying Consolidated Balance Sheets as of the years ended October 3, 2025 and September 27, 2024 were as follows: 20252024Non-current assets$3,074 $23,420 Non-current liabilities2,061 1,913 Net deferred tax assets$1,013