Taxes |
6 Months Ended |
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Jul. 31, 2022 | |
| Taxes | |
| Taxes |
(6) Taxes For the three months and six months ended July 31, 2022 (Successor), the Company recorded a tax benefit on continuing operations of $3.1 million and $25.4 million, respectively on pretax loss of $130.4 million and $175.8 million, respectively. The tax benefit reflects the impact of non-deductible items, current period changes in the Company’s valuation allowance on its deferred tax assets and the impact of foreign rate differential. For the successor period from June 12, 2021 through July 31, 2021, the Company recorded a tax benefit on continuing operations of $2.0 million on pretax loss of $11.3 million. The tax benefit reflects the impact of non-deductible items, current period changes in the Company’s valuation allowance on its deferred tax assets and the impact of foreign rate differential. For the predecessor period from May 1, 2021 through June 11, 2021 the Company recorded a tax benefit of $0.5 million on pretax loss of $15.0 million. For the processor period from February 1, 2021 through June 11, 2021, the Company recorded a tax benefit of $3.5 million on pretax loss of $54.0 million. The tax benefit for these periods reflected the impact of non-deductible items, current period changes in the Company’s valuation allowance on its deferred tax assets and the impact of foreign rate differential. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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