v3.25.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s income tax benefit (expense) consisted of the following components:
(In thousands)Three Months Ended
March 31,
20252024
Current tax benefit (expense)$860 $(3,418)
Deferred tax benefit (expense)(136,219)24,080 
Income tax benefit (expense)$(135,359)$20,662 

The effective tax rates for the three months ended March 31, 2025 and March 31, 2024 were (93.0)% and 53.3%, respectively. The effective tax rates for these three-month periods were primarily impacted by changes in the forecasted increase in valuation allowances recorded against certain deferred assets, related primarily to disallowed interest expense carryforwards due to uncertainty regarding the Company's ability to utilize those assets in future periods.