Table:
|  | 2019 | 2018 |
| --- | --- | --- |
| Deferred income tax assets: |  |  |
| Loss/credit carryforwards | $28,391 | $27,915 |
| Inventories | 16,809 | 6,459 |
| Accrued benefits | 15,834 | 14,459 |
| Other | 3,353 | 3,450 |
| Total gross deferred income tax assets | 64,387 | 52,283 |
| Less valuation allowances | (29,170) | (28,369) |
| Deferred income tax assets | 35,217 | 23,914 |
| Deferred income tax liabilities: |  |  |
| Property, plant and equipment | 15,621 | 12,530 |
| Tax on unremitted earnings | 5,192 | 14,935 |
| Acceleration of revenue under Topic 606 | 6,055 | — |
| Deferred income tax liabilities | 26,868 | 27,465 |
| Net deferred income tax assets/(liabilities) | 8,349 | (3,551) |
Paragraphs:
The components of the net deferred income tax assets as of September 28, 2019 and September 29, 2018, were as follows (in thousands):
During fiscal 2019, the Company’s valuation allowance increased by $0.8 million. This increase is the result of increases to the valuation allowances against the net deferred tax assets in the AMER region of $1.7 million, partially offset by a decrease in net deferred tax assets in the EMEA region of $0.9 million.
As of September 28, 2019, the Company had approximately $189.2 million of pre-tax state net operating loss carryforwards that expire between fiscal 2020 and 2040. Certain state net operating losses have a full valuation allowance against them. The Company also had approximately $79.6 million of pre-tax foreign net operating loss carryforwards that expire between fiscal 2019 and 2025 or are indefinitely carried forward. These foreign net operating losses have a full valuation allowance against them.
During fiscal 2019, proposed and final regulations were issued and tax legislation was adopted in various jurisdictions. The impacts of these regulations and legislation on the Company’s consolidated financial condition, results of operations and cash flows are included above.
The Company has been granted a tax holiday for a foreign subsidiary in the APAC segment. This tax holiday will expire onD ecember 31, 2024, and is subject to certain conditions with which the Company expects to continue to comply. During fiscal 2019, 2018 and 2017, the tax holiday resulted in tax reductions of approximately $23.9 million net of the impact of the GILTI provisions of Tax Reform ($0.79 per basic share, $0.77 per diluted share), $39.1 million ($1.19 per basic share, $1.15 per diluted share) and $37.5 million ($1.11 per basic share, $1.08 per diluted share), respectively.
The Company does not provide for taxes that would be payable if certain undistributed earnings of foreign subsidiaries were remitted because the Company considers these earnings to be permanently reinvested. The deferred tax liability that has not been recorded for these earnings was approximately $10.5 million as of September 28, 2019.
The Company has approximately $2.3 million of uncertain tax benefits as of September 28, 2019. The Company has classified these amounts in the Consolidated Balance Sheets as "Other liabilities" (noncurrent) in the amount of $1.5 million and an offset to "Deferred income taxes" (noncurrent asset) in the amount of $0.8 million. The Company has classified these amounts as "Other liabilities" (noncurrent) and "Deferred income taxes" (noncurrent asset) to the extent that payment is not anticipated within one year.
Question:
What was the percentage change in the Property, plant and equipment between 2018 and 2019?
Answer: (15621-12530)/12530 = 24.67