XML 76 R44.htm IDEA: XBRL DOCUMENT v3.22.0.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income taxes  
Schedule of tax provision amounts recognized in the consolidated statements of profits and losses

Year ended December 31, 

    

2021

    

2020
(As Restated)

Current year

$

157,752

$

76,718

Provision to return adjustment

 

(2,931)

 

(888)

Current tax expense

 

154,821

 

75,830

Deferred tax expense

 

19,105

 

11,720

Provision for income taxes

$

173,926

$

87,550

Schedule of reconciliation of federal statutory income tax rate to effective income tax rate

    

Year ended December 31, 

 

2021

    

2020
(As Restated)

Income (loss) before provision for income taxes

$

64,796

    

  

    

$

30,796

    

  

Tax using the Company's domestic tax rate

9,719

 

15

%  

$

4,620

 

15

%

Effect of tax rates in foreign jurisdictions

3,121

5

%  

1,848

6

%

Tax effect of:

 

 

  

 

  

 

  

State taxes, net of federal benefit

 

45,125

 

70

%  

 

3,581

 

12

%

Share-based compensation

 

15,383

 

24

%  

 

7,883

 

26

%

Non-taxable partnership income

 

 

%  

 

(395)

 

(1)

%

Non-deductible expenses

 

102,128

 

158

%  

 

61,970

 

201

%

Other

 

2,775

 

4

%  

 

3,139

 

10

%

Unrecognized deferred tax asset on current year losses

 

(4,325)

 

(7)

%  

 

4,904

 

16

%

$

173,926

 

269

%  

$

87,550

 

285

%

Summary of changes in the Company's deferred taxes

    

Net balance

    

Recognized

    

Acquired in  

    

Change in

    

Deferred  

    

Deferred  

at

in profit

business

Held for

tax  

tax  

 

January 1

 

or loss

 

combination & Other

 

sale

Net 

 

asset

 

liability

As of December 31, 2021

 

  

 

  

 

  

 

  

 

  

 

  

Depreciation and amortization

$

(189,374)

$

12,756

$

(97,848)

$

13,691

$

(260,775)

$

$

(260,775)

Accrued & prepaid expenses

 

303

 

(916)

 

566

 

(47)

 

 

(47)

Inventories

 

(26,185)

 

(28,372)

 

(387)

304

 

(54,640)

 

 

(54,640)

Tax loss carryforward

 

19,979

 

(2,573)

 

1,316

 

18,722

 

18,722

 

Tax asset (liability) before netting

$

(195,277)

$

(19,105)

$

(96,353)

$

13,995

$

(296,740)

$

18,722

$

(315,462)

Balance sheet netting

(16,129)

16,129

Net tax asset (liability)

$

2,593

$

(299,333)

    

Net balance

    

Recognized

    

Acquired in  

    

    

Deferred  

    

Deferred  tax

at

in profit

business

tax  

liability

 

January 1

 

or loss

 

combination 

 

Net 

 

asset

 

(As Restated)

As of December 31, 2020

 

  

 

  

 

  

 

  

 

  

 

  

Depreciation and amortization

$

(8,004)

$

(17,827)

$

(163,543)

$

(189,374)

$

$

(189,374)

Accrued & prepaid expenses

 

(7,681)

 

7,984

 

 

303

 

303

 

Inventories

 

(7,552)

 

(18,633)

 

 

(26,185)

 

 

(26,185)

Tax loss carryforward

 

3,223

 

16,756

 

 

19,979

 

19,979

 

Tax asset (liability) before netting

$

(20,014)

$

(11,720)

$

(163,543)

$

(195,277)

$

20,282

$

(215,559)

Balance sheet netting

(14,754)

14,754

Net tax asset (liability)

$

5,528

$

(200,805)

Summary of deferred tax assets not been recognized

    

December 31, 2021

    

December 31, 2020

Gross amount 

    

Tax amount 

Gross amount 

    

Tax amount 

Deductible temporary differences

$

147,199

$

43,203

$

61,192

$

17,948

Tax losses

 

359,467

 

96,783

 

146,387

 

40,727

$

506,666

$

139,986

$

207,579

$

58,675