INCOME TAX EXPENSE |
9 Months Ended |
|---|---|
Jun. 30, 2025 | |
| INCOME TAX EXPENSE | |
| INCOME TAX EXPENSE | 10. INCOME TAX EXPENSE The third quarter 2025 effective income tax rate from continuing operations was 25.1% compared to 21.3% in the third quarter of 2024. The effective income tax rate from continuing operations in the first nine months of 2025 was 23.4% compared to 21.2% for the first nine months of 2024. The income tax expense in the third quarter and first nine months of 2025 was unfavorably impacted by income tax consequences associated with the Maritime acquisition, including non - deductible transaction costs and additional income taxed at the UK statutory rate. On July 4, 2025, President Trump signed H.R. 1, the “One Big Beautiful Bill Act (OBBBA)” into law. The OBBBA extends permanently, with modifications, certain individual, business and international tax provisions enacted as part of the 2017 Tax Cuts and Jobs Act that were set to expire at the end of calendar year 2025, as well as delivers additional tax relief for individuals and businesses. The Company is currently evaluating the impact of the OBBBA on its consolidated financial statements but does not anticipate a material impact to the Company’s financial position or results of operations. |