v3.26.1
Note 7 - Income Tax - Reconciliation of Differences Between Expected Income Tax Expense Expressed as Accounting Profit Multiplied by Corporate Income Tax Rate and Actual Income Tax Expense (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]      
Income before income taxes $ 125,216 $ 98,412 $ 159,997
Tax using the Norwegian tax rate of 22% $ (27,548) $ (21,651) $ (35,199)
Tax using the Norwegian tax rate of 22%, percentage [1] 22.00% 22.00% 22.00%
Different tax rates of subsidiaries operating in other jurisdictions $ 8,738 $ 7,945 $ 5,346
Different tax rates of subsidiaries operating in other jurisdictions, percentage [1] (7.00%) (8.10%) (3.30%)
Pillar Two top-up taxes $ (939) $ 0 $ 0
Pillar two top up taxes, percentage [1] 0.80% (0.00%) (0.00%)
Changes in tax rates $ (8) $ 2 $ (64)
Change in tax rates, percentage [1] (0.00%) 0.00% 0.00%
Non-deductible expenses $ (4,831) $ (3,861) $ (4,588)
Non-deductible expenses, percentage [1] 3.90% 3.90% 2.90%
Tax-exempt income $ 8,399 $ 2,986 $ 23,149
Tax-exempt income, percentage [1] (6.70%) (3.00%) (14.50%)
Foreign withholding taxes $ (7) $ (138) $ 270
Foreign withholding taxes, percentage [1] (0.00%) 0.10% (0.20%)
Recognition and derecognition of deferred tax assets $ 482 $ (1,554) $ 4,848
Recognition and derecognition of deferred tax assets, percentage [1] (0.40%) 1.60% (3.00%)
Changes in estimates related to prior years $ (503) $ 48 $ (67)
Changes in estimates related to prior years, percentage [1] 0.40% 0.00% 0.00%
Movements in exchange rates $ (718) $ (1,419) $ (391)
Movements in exchange rates, percentage [1] 0.60% 1.40% 0.20%
Income tax expense $ (16,934) $ (17,642) $ (6,697)
Income tax expense at effective tax rate [1] 13.50% 17.90% 4.20%
[1] Percentages have been rounded for presentation purposes and may differ from unrounded results.