Annual report [Section 13 and 15(d), not S-K Item 405]

Note 7 - Income Taxes (Tables)

v3.25.4
Note 7 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
   

Year Ended December 31,

 
   

2025

   

2024

 

U.S.

  $ (727 )   $ (993 )

Foreign

    160       1,613  

Income (loss) before income taxes

  $ (567 )   $ 620  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

Year Ended December 31,

 
   

2025

   

2024

 

Current taxes:

               

U.S. federal

  $ 39     $ (24 )

U.S. state and local

    13       11  

Foreign

    165       34  

Total current tax expense

  $ 217     $ 21  
                 

Deferred taxes:

               

U.S. federal

  $ (100 )   $ (83 )

U.S. state and local

    (1 )     1  

Foreign

    199       109  

Total deferred tax expense

  $ 98     $ 27  
                 

Total income tax expense:

               

U.S. federal

  $ (61 )   $ (107 )

U.S. state and local

    12       12  

Foreign

    364       143  

Income tax provision

  $ 315     $ 48  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

Year Ended December 31, 2025

   

Year Ended December 31, 2024

 
   

Amount

   

Percent

   

Amount

   

Percent

 

Income tax at U.S. federal statutory tax rate

  $ (119 )     21.0 %   $ 130       21.0 %

Domestic federal:

                               

Nontaxable and nondeductible items

                               

Section 162(m) limitation

          %     58       9.4 %

Stock-based compensation

    24       (4.2 )%     26       4.2 %

Other

    3       (0.5 )%     3       0.5 %

Cross-border tax laws

                               

Subpart F inclusion

    78       (13.8 )%     43       6.9 %

U.S. foreign income inclusions

          %     (18 )     (2.9 )%

Domestic state and local income taxes, net of federal effect

    9       (1.6 )%     10       1.6 %

Foreign tax effects:

                               

Cayman Islands

    (143 )     25.2 %     (348 )     (56.1 )%

Hong Kong

                               

Nontaxable and nondeductible items

    4       (0.7 )%     (18 )     (2.9 )%

Rate differential

    (43 )     7.6 %     (34 )     (5.5 )%

China

                               

Rate differential

    70       (12.3 )%     (5 )     (0.8 )%

Change in tax rate

    89       (15.7 )%           %

Net operating loss expiration

    86       (15.2 )%           %

Change in valuation allowance

    45       (7.9 )%     5       0.8 %

Peru

                               

Nontaxable and nondeductible items

    28       (4.9 )%     73       11.8 %

Rate differential

    (1 )     0.2 %     (9 )     (1.5 )%

Canada

                               

Nontaxable and nondeductible items

    93       (16.4 )%     113       18.2 %

Rate differential

    (26 )     4.6 %     (37 )     (6.0 )%

Change in valuation allowance

    (13 )     2.3 %           %

Japan

          %     12       1.9 %

Italy

    (18 )     3.2 %     (9 )     (1.5 )%

India

                               

Rate differential

    (13 )     2.3 %     (10 )     (1.6 )%

Change in valuation allowance

    42       (7.4 )%     32       5.2 %

Colombia

                               

Rate differential

    (38 )     6.7 %     (8 )     (1.3 )%

Change in valuation allowance

    95       (16.8 )%     30       4.8 %

Bolivia

    (22 )     3.9 %     8       1.3 %

Russia

    100       (17.6 )%           %

Other foreign jurisdictions

    (15 )     2.6 %     1       0.2 %

Income tax provision

  $ 315       (55.6 )%   $ 48       7.7 %
Income Tax Foreign Rate Differential [Table Text Block]
           

Year Ended December 31,

 
   

Statutory Tax Rate

   

2025

   

2024

 

Cayman Islands

    %   $ 759     $ 1,535  

Hong Kong

    16.5 %     444       745  

China

    5.0 %     (439 )     (124 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

December 31,

 
   

2025

   

2024

 

Deferred tax assets:

               

Net operating losses

  $ 843     $ 700  

Operating lease liabilities

    264       325  

Other

    73       82  

Total deferred tax assets

    1,180       1,107  

Valuation allowance

    (624 )     (391 )

Net deferred tax assets

    556       716  
                 

Deferred tax liabilities:

               

Operating lease assets

    (236 )     (297 )

Foreign deferreds

    (180 )     (173 )

Prepaids

    (31 )     (35 )

Other

          (3 )

Total deferred tax liabilities

    (447 )     (508 )

Net deferred tax assets

  $ 109     $ 208  
Income Tax, Cash Taxes Paid [Table Text Block]
   

Year Ended December 31,

 
   

2025

   

2024

 
                 

U.S. federal

  $ 4,954     $ 3,799  

U.S. state and local

    12       8  

Foreign

    (45 )     151  

Cash paid for income taxes, net

  $ 4,921     $ 3,958