General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

v3.23.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of components of loss before taxes

    

Successor

  

  

Predecessor

Year Ended

December 3, 2021

January 1, 2021

December 31,

through December 31,

through December 2,

2022

    

2021

2021

Domestic

$

(1,559,695)

$

(57,938)

$

(146,400)

Foreign

 

 

 

Total

$

(1,559,695)

$

(57,938)

$

(146,400)

Schedule of components of income tax expense

Successor

Predecessor

Year Ended

December 3, 2021

January 1, 2021

    

December 31,

  

through December 31,

through December 2,

    

2022

    

2021

  

  

2021

Current income taxes:

Federal

$

111

$

$

State

1,751

Total current income taxes

$

1,862

$

$

Deferred income taxes:

Federal

State

Total deferred income taxes

Total income tax expense

$

1,862

$

$

Schedule of reconciliation between the income tax provision computed by applying the statutory federal rate and the actual provision

    

Successor

Predecessor

Year Ended

December 3, 2021

January 1, 2021

December 31,

through December 31,

through December 2,

2022

  

2021

  

  

2021

Tax at federal statutory rate

$

(327,536)

$

(12,166)

$

(30,744)

Non-controlling interest and nontaxable income

 

260,020

 

8,359

 

30,744

Change in valuation allowance

 

33,961

 

2,832

 

Investment in P3 LLC

 

35,147

 

1,550

 

Other reconciling items

270

(575)

Total

$

1,862

$

$

Effective tax rate

 

(0.1)

%  

 

%

 

%

Schedule of deferred income tax assets and liabilities

December 31, 

2022

    

2021

Deferred tax assets:

 

 

Investment in P3 LLC

$

20,684

$

Net operating loss carryforwards

 

17,601

 

6,922

Accrued liabilities

2,764

3,307

Goodwill and identifiable intangible assets

589

Section 163j interest limitation

 

1,995

 

1,232

Other deferred tax assets

 

94

 

3

Total deferred tax assets

 

43,727

 

11,464

Less: valuation allowance

 

(43,558)

 

(9,621)

Net deferred tax assets

 

169

 

1,843

Deferred tax liabilities:

 

 

Other deferred tax liabilities

(150)

(87)

Operating lease, right-of-use assets

(19)

Goodwill and identifiable intangible assets

 

 

(1,756)

Total deferred tax liabilities

 

(169)

 

(1,843)

Net deferred tax asset

$

$