APTARGROUP INC
For the period ended Dec 31, 2024. Filed Feb 7, 2025.
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FY2024 · Filed Feb 7, 2025
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II – Valuation and Qualifying Accounts
AptarGroup, Inc
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
For the years ended December 31, 2024, 2023 and 2022
| Dollars in thousands | |||||
|---|---|---|---|---|---|
| Balance atBeginningOf Period | Charged toCosts andExpenses | Chargedto OtherAccounts | DeductionsfromReserve | Balanceat End ofPeriod | |
| CECL (a) | $16,217 | $1,016 | $— | $(1,448) | $15,785 |
| Deferred tax valuation allowance (b) | 48,856 | 1,739 | 26,903 | (16,364) | 61,134 |
| CECL (a) | $9,519 | $8,077 | $12 | $(1,391) | $16,217 |
| Deferred tax valuation allowance | 46,239 | 1,498 | 2,495 | (1,376) | 48,856 |
| CECL (a) | $7,374 | $3,213 | $— | $(1,068) | $9,519 |
| Deferred tax valuation allowance | 47,149 | 3,754 | 380 | (5,044) | 46,239 |
(a)The deductions from reserve column represents the write-off of accounts considered uncollectible, net of recoveries and foreign currency impact adjustments.
(b)The 2024 increase to the deferred tax valuation allowance in the charged to other accounts column primarily relates to the establishment of a $29.5 million deferred tax valuation allowance for deferred tax assets established to reflect prior period tax losses not previously expected to be realized that were not recognized on the Balance Sheet. As of December 31, 2024, management expects $11.0 million of these losses to be realizable in future periods, which is reflected in the deductions from the reserve column.
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