---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-016099"
form_type: "8-K"
ticker: "TR"
cik: "0000098677"
company_name: "TOOTSIE ROLL INDUSTRIES INC"
filed_at: "2024-12-09T23:59:59+00:00"
generated_at: "2026-05-29T06:03:48.364409+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Tootsie Roll expects $11-12M non-cash tax charge in Q4 2024 after board revokes deferred comp plan tax strategy

## Summary
- Board revoked 2018 authorization to preserve tax deductibility of deferred compensation under Section 162(m) due to IRS interpretations and account growth.
- Non-cash charge of approximately $11-12 million to write off deferred tax assets in Q4 2024.
- Charge will be reflected in 2024 Form 10-K; no future cash expenditures expected beyond loss of deduction.
- Company cites sustained equity market appreciation as reason for increased account balances.

## SEC filing metadata
- accession: 0001558370-24-016099
- form_type: 8-K
- ticker: TR
- cik: 0000098677
- company_name: TOOTSIE ROLL INDUSTRIES INC
- filed_at: 2024-12-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/98677/000155837024016099/0001558370-24-016099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/98677/000155837024016099/tr-20241203x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-016099
- JSON: https://secwatch.observer/filing/0001558370-24-016099.json
- Plain text: https://secwatch.observer/filing/0001558370-24-016099.txt

## Key facts
- Restructurings & Charges
  TOOTSIE ROLL INDUSTRIES INC announced a impairment with charges of between approximately $11 and $12 million.
  - Type: impairment
  - Charge: between approximately $11 and $12 million
  source text: The adjustment to the deferred tax assets is expected to result in a non-cash tax charge between approximately $11 and $12 million in fourth quarter 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/98677/000155837024016099/0001558370-24-016099-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.