Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 178

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 178
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,959 Operating lease liability132,388 117,449 Capitalized R&D Expenditures46,247 35,673 Other25,133 12,190 Valuation allowance(286,771)(304,248)Total deferred tax assets317,680 290,311 Deferred tax liabilities:Goodwill and other intangibles(198,103)(231,020)Depreciation related(41,481)(57,791)Venture capital investments(1,654)(8,350)Tax on unremitted earnings(11,622)(25,080)Right-of-use assets(113,631)(102,620)Other(15,970)(16,520)Total deferred tax liabilities(382,461)(441,381)Net deferred taxes$(64,781)$(151,070)The Company has recognized its deferred tax assets on the belief that it is more likely than not that they will be realized. Exceptions primarily relate to deferred tax assets for net operating losses in Luxembourg, Sweden, state research and development tax credits, certain capital losses, and fixed assets in the U.K. and Ireland. A reconciliation of the Company’s beginning and ending valuation allowance are as follows: Fiscal Year202420232022Beginning balance$304,248 $294,753 $315,645 Additions (reductions) charged to income tax provision, net965 963 1,929 Reductions due to divestitures, restructuring(1,877)— (5,337)Currency translation and other(16,565)8,532 (17,484)Ending balance$286,771 $304,248 $294,753 As of December 28, 2024, the Company had tax-effected deferred tax assets for net operating loss carryforwards of $311.7 million, as compared to $336.0 million as of December 30, 2023. Of this amount, $27.3 million are definite-lived and begin to expire in 2027, and the remainder of $284.4 million can be carried forward indefinitely. The Company has deferred tax assets for tax credit carryforwards of $36.1 million. The entire $36.1 million are definite-lived and begin to expire after 2039. Additionally, the Company records a benefit to operating income for research and development and other credits in Quebec, France, the Netherlands, and the U.K. related to its DSA facilities.

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