INCOME TAXES |
3 Months Ended | |||||||||||||||||||||||||
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Mar. 31, 2025 | ||||||||||||||||||||||||||
| INCOME TAXES [Abstract] | ||||||||||||||||||||||||||
| Income Taxes | NOTE 14. INCOME TAXES
In computing our income tax provision, we make certain estimates and judgments, such as estimated annual taxable income or loss, annual effective tax rate, nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. Our estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. Should facts and circumstances change during a quarter causing a material change to the estimated effective income tax rate, a cumulative adjustment is recorded.
The following table provides a summary of our effective income tax rate for the three months ended March 31, 2025 and 2024, respectively:
For the three months ended March 31, 2025, the increase in the effective tax rate was due primarily to income before taxes of $103.7 million as compared to a loss of $8.6 million for the three months ended March 31, 2024, and one-time tax adjustments as a percentage of income/(loss) before taxes. |
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