v3.25.2
Note 3 - Income Taxes
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

(3)

INCOME TAXES

 

The effective tax rate for the three and six-month periods ended June 30, 2025 increased to 118% from 26% and to 32% from 24%, respectively, compared to the same periods in 2024. The change in the three and six-month periods was mainly due to deductible limitations on executive compensation related to cash bonuses in the second quarter of 2025.


On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the U.S., which contains a broad range of tax reform provisions affecting businesses. We are evaluating the full effects of the legislation on our estimated annual effective tax rate and cash tax position, but we do not expect that the legislation will have a material impact on our financial statements. As the legislation was signed into law after the close of our second quarter, the impacts are not included in our operating results for the six months ended June 30, 2025.