Income Taxes (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Pre-Tax Income (Loss) and Effective Income Tax Rates

For the three months ended March 31, 2025 and 2024, pre-tax income (loss) attributable to our operations and the corresponding operations’ effective tax rates were as follows:


	For the Three Months Ended March 31,
	2025					2024
(in millions)	Pre-Tax Income (Loss)			Effective Tax Rate		Pre-Tax Income (Loss)		Effective Tax Rate
United States	$	38.9		21.3	%	$	28.0	5.5	%
United Kingdom	—		(1)	—	%	—		—	%




Italy	(0.4)			—	%	(0.8)		(4.7)	%
Pre-tax income (loss)	$	38.5		21.6	%	$	27.2	5.8	%

(1) Pre-tax income (loss) for the respective year was less than $0.1 million.

Schedule of Reconciliation of Difference Between Provision for Income Taxes and Expected Tax Provision at Weighted Average Tax Rate

A reconciliation of the difference between the provision (benefit) for income taxes and the expected tax provision (benefit) at the weighted average tax rate is as follows:



	For the Three Months Ended March 31,
(in millions)	2025		2024
Income tax provision (benefit) at expected rate	$	8.1	$	5.7
Tax effect of:
Nontaxable investment income	(0.1)		—



Withholding taxes	0.1		—



Change in valuation allowance	(1.3)		—

Prior period adjustment	1.2		(4.4)
Other	0.3		0.3
Income tax provision (benefit)	$	8.3	$	1.6