v3.25.4
Income Taxes - Provision for Income Tax Recovery (Expense) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Loss Carryforwards [Line Items]      
Income before income taxes $ 1,509,000 $ 2,228,000 $ 185,000
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Expected income tax expense at Canadian Federal statutory income tax rate of 15.0% (226,000) (334,000) (28,000)
Domestic taxes on foreign earnings (66,000) (60,000) (58,000)
Domestic taxes on unrealized investment gains 46,000 (62,000) (45,000)
Other 0 (13,000) 0
Tax credits 30,000 13,000 18,000
Net unrealized (loss) gain on equity and other investments 34,000 29,000 128,000
Non-deductible loss on embedded derivative (19,000) 0 0
Other permanent differences 1,000 (3,000) (1,000)
Provision for income taxes $ (278,000) $ (209,000) $ (53,000)
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Expected income tax expense at Canadian Federal statutory income tax rate of 15.0% 15.00% 15.00% 15.00%
Domestic taxes on foreign earnings 4.40% 2.70% 31.40%
Domestic taxes on unrealized investment gains (3.00%) 2.80% 24.30%
Other 0.00% 0.60% 0.00%
Tax credits (2.00%) (0.60%) (9.70%)
Net unrealized gain on equity and other investments (2.30%) (1.30%) (69.20%)
Non-deductible loss on embedded derivative 1.30% 0.00% 0.00%
Other permanent differences (0.10%) 0.10% 0.50%
Effective Income Tax Rate Reconciliation, Percent 18.40% 9.40% 28.60%
Canada      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Provincial tax / U.S. State Tax $ (47,000) $ (46,000) $ (1,000)
Change in valuation allowance 0 115,000 71,000
Stock-based compensation 12,000 0 (15,000)
Sales of businesses 0 0 45,000
Other $ 0 $ (4,000) $ (1,000)
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Provincial tax / U.S. State Tax 3.10% 2.10% 0.50%
Change in valuation allowance 0.00% (5.20%) (38.40%)
Stock-based compensation (0.80%) 0.00% 8.10%
Sales of businesses 0.00% 0.00% (24.30%)
Other   0.20% 0.50%
United States      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Provincial tax / U.S. State Tax $ (18,000) $ (242,000) $ 119,000
Foreign tax rate differential 4,000 (8,000) (39,000)
Change in valuation allowance (13,000) 361,000 (543,000)
Income not subject to tax in U.S. 36,000 33,000 43,000
Unrealized investment (loss) gain not subject to tax (3,000) 49,000 29,000
Stock-based compensation 30,000 15,000 (47,000)
Sales of businesses 0 0 196,000
Effect in changes in tax rates on unrealized investment gain 0 (132,000) 0
Other $ (17,000) $ 13,000 $ 3,000
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Provincial tax / U.S. State Tax 1.20% 10.90% (64.30%)
Foreign tax rate differential (0.30%) 0.40% 21.10%
Change in valuation allowance 0.90% (16.20%) 293.50%
Income not subject to tax in U.S. (2.40%) (1.50%) (23.20%)
Unrealized investment (loss) gain not subject to tax 0.20% (2.20%) (15.70%)
Stock-based compensation (2.00%) (0.70%) 25.40%
Effect in changes in tax rates on unrealized investment gain 0.00% 5.90% 0.00%
Sales of businesses 0.00% 0.00% (105.90%)
Other 1.10% (0.60%) (1.60%)
Singapore      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Foreign tax rate differential $ (5,000) $ (3,000) $ (1,000)
Other (5,000) (4,000) 3,000
Singapore benefit of tax holiday 20,000 21,000 9,000
Pillar Two tax $ (10,000) $ 0 $ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Foreign tax rate differential 0.30% 0.10% 0.50%
Other 0.30% 0.20% (1.60%)
Singapore benefit of tax holiday (1.30%) (0.90%) (4.90%)
Pillar Two tax 0.70% 0.00% 0.00%
Ireland      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Foreign tax rate differential $ 12,000 $ 20,000 $ 16,000
Unrealized investment (loss) gain not subject to tax (46,000) 44,000 53,000
Other (13,000) (14,000) 5,000
Pillar Two tax $ (16,000) $ (5,000) $ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Foreign tax rate differential (0.80%) (0.90%) (8.60%)
Unrealized investment (loss) gain not subject to tax 3.00% (2.00%) (28.60%)
Other 0.90% 0.60% (2.70%)
Pillar Two tax 1.10% 0.20% 0.00%
Other foreign jurisdictions      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Foreign tax rate differential $ 1,000 $ 8,000 $ (12,000)
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Foreign tax rate differential (0.10%) (0.40%) 6.50%