Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 179

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 179
---
 power to direct the activities that most significantly impact the entity’s economic performance. The maximum exposure to loss from our involvement in this VIE equals the carrying value of the investment. The primary economic purpose of this investment is to achieve a satisfactory return on capital through the receipt of tax credits and other tax attributes. Our investment in the Solar Farm is accounted for using the equity method of accounting. As of December 31, 2024 and 2023, the carrying amount of our investment in the Solar Farm was $0.2 million and $0.7 million, respectively, and is included in Policy loans and other invested assets in the accompanying consolidated balance sheets. The carrying value recognized includes capital contributions of $22.2 million reduced by $22.0 million of tax credits and other tax attributes as of December 31, 2024, and capital contributions of $16.2 million reduced by $15.5 million of tax credits and other tax attributes as of December 31, 2023. The amount of investment income (loss) and income tax benefit recognized in the accompanying consolidated statements of income were not material due to our accounting policy of reducing the carrying value of the investment by the tax credits and other tax attributes. As of December 31, 2024, we do not have any commitments to invest additional funds in the Solar Farm tax credit investment. 

(14) Stockholders’ EquityThe following table shows changes in our outstanding common stock: 

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Common stock, beginning of period

        34,996

        36,824

        39,368

        Shares of common stock issued upon exercise of stock options

        -

        60

        -

        Shares of common stock issued when sales restrictions on RSUs lapsed and PSUs were earned

        178

        207

        236

        Common stock retired

        (1,806
        )

        (2,095
        )

        (2,780
        )

        Common stock, end of period

        33,368

        34,996

        36,824

       The above table excludes RSUs and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of December 31, 2024, we had a total of