Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Components of Income Tax Expense (Benefit)

The income tax expense (benefit) for income taxes for the years indicated were as follows (in millions):


	Year Ended December 31,
	2025		2024
Current tax expense
Federal	$	(1.0)	$	0.6
State	2.6		4.5
Foreign	1.0		0.7
Net current tax expense	$	2.6	$	5.8
Deferred tax expense (benefit)
Federal	$	0.3	$	0.2

Foreign	(0.4)		0.3
Net deferred tax (benefit) expense	$	(0.1)	$	0.5

Income tax expense	$	2.5	$	6.3

Schedule of Components of Income (Loss) from Continuing Operations Before Income Taxes

The US and foreign components of income (loss) from continuing operations before income taxes for the years indicated were as follows (in millions):


	Year Ended December 31,
	2025		2024
US	$	(63.3)	$	(36.1)
Foreign	1.8		2.7
Loss from continuing operations before income taxes	$	(61.5)	$	(33.4)

Schedule of Federal Statutory Income Tax Rate to Income (Loss) Before Income Taxes

The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09 (in millions):


	Year Ended December 31, 2025
	Amount		Percent
Tax (benefit) at federal statutory rate	$	(12.9)	21.0	%
State tax, net of federal benefit(1)	1.9		(3.1)	%
Foreign Tax Effects	0.3		(0.5)	%
Increase (decrease) in valuation allowance	12.7		(20.7)	%
Non-taxable or non-deductible items:
Non-deductible meals and entertainment	0.7		(1.1)	%



Other Adjustment:




Other	(0.2)		0.3	%
Income tax expense	$	2.5	(4.1)	%

(1) State taxes in New York, California, and Louisiana made up the majority (greater than 50%) of the tax effect in this category.

The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the years ended December 31, 2024 in accordance with the guidance prior to the adoption of ASU 2023-09 (in millions):


	Year Ended December 31, 2024
	Amount
Tax (benefit) at federal statutory rate	$	(7.0)
State tax, net of federal benefit	(1.3)
Non-deductible meals and entertainment	0.5
Executive and stock compensation	2.1
Increase (decrease) in valuation allowance	19.8
Tax rate changes	(4.9)
Return to provision	(3.8)



Other	0.9
Income tax expense	$	6.3

Schedule of Income Taxes Paid, Net of Refunds

The following table presents income taxes paid, net of refunds, for the year ended December 31, 2025, based on the adoption of ASU 2023-09 (in millions):


	Year Ended December 31, 2025
	Amount		Percent
Federal	$	0.9	14.0	%
State:
California	1.5		23.4	%
New York	1.2		18.8	%
Louisiana	0.8		12.5	%
Other state jurisdictions	1.2		18.8	%
Foreign:
Canada	0.5		7.8	%
Other foreign jurisdictions	0.3		4.7	%
Total income taxes paid, net of refunds	$	6.4	100.0	%

Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net income tax effect of temporary differences between the basis of assets and liabilities for financial reporting purposes and for income tax purposes. Net deferred tax balances as of the years indicated were comprised of the following (in millions):


	December 31,
	2025		2024
Net operating loss carryforwards	$	81.6	$	79.2
Basis difference in fixed assets	0.4		0.4
Deferred compensation	7.6		8.1



Sec. 163(j) carryforward	74.4		68.3

Deferred Interest	4.3		—
Lease liability	15.5		15.7
Investment in partnership	10.5		10.8
Other deferred tax assets	8.1		8.1
Total deferred tax assets	202.4		190.6
Valuation allowance	(138.6)		(128.9)
Total net deferred tax assets	$	63.8	$	61.7

Basis difference in fixed assets	(17.0)		(16.4)

Right-of-use assets	(14.7)		(15.0)
Basis difference in intangibles	(32.7)		(30.4)
Lease termination	(0.7)		(1.5)
Other deferred tax liabilities	(1.4)		(1.2)
Total deferred tax liabilities	$	(66.5)	$	(64.5)

Net deferred tax liabilities	$	(2.7)	$	(2.8)

Net deferred tax asset per Consolidated Balance Sheet	$	2.0	$	1.6
Deferred tax liabilities per Consolidated Balance Sheet	4.7		4.4
Total net deferred tax liabilities	$	(2.7)	$	(2.8)

Schedule of Unrecognized Tax Benefits Roll Forward

Below is a tabular reconciliation of the total amount of unrecognized tax benefits as of the years indicated (in millions):


	Year Ended December 31,
	2025		2024
Uncertain tax benefits - January 1	$	17.6	$	17.6

Gross decreases - Tax positions in prior year	—		—



Uncertain tax benefits - December 31	$	17.6	$	17.6