v3.25.2
INCOME TAXES
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The following table provides the income tax expense (amounts in thousands) and effective tax rates for the periods indicated:
Three Months Ended Six Months Ended
June 30,
2025		June 30,
2024		June 30,
2025		June 30,
2024
Income tax expense$10,538$18,991$20,927$46,025
Effective tax rate7.4%18.9%7.8%26.4%
The effective tax rate for the three months ended June 30, 2025, included a $9.3 million discrete benefit related to withholding tax refund on a foreign royalty and a discrete tax benefit of $4.3 million attributable to the release of a valuation allowance.
The effective tax rate for the six months ended June 30, 2025, included a $12.0 million discrete benefit for additional recoverable basis in foreign jurisdictions, a discrete tax benefit of $4.3 million attributable to the release of a valuation
allowance, and a $11.0 million discrete benefit related to withholding tax refunds on foreign royalties. The effective tax rate for the six months ended June 30, 2024 included a $13.0 million discrete income tax expense related to the consideration from the Mount Milligan Cost Support Agreement.
H.R. 1., also known as the One Big Beautiful Bill Act ("OBBBA"), was enacted on July 4, 2025. The Company is currently evaluating the impact of these provisions, which could affect the Company's effective tax rate in future periods.