v3.26.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s income tax benefit (expense) consisted of the following components:
(In thousands)Three Months Ended
March 31,
20262025
Current tax benefit (expense)$(6,413)$860 
Deferred tax benefit (expense)6,124 (136,219)
Income tax expense$(289)$(135,359)

The effective tax rates for the three months ended March 31, 2026 and 2025 were (0.3)% and (93.0)%, respectively. The effective tax rates for these three-month periods were primarily impacted by increases in valuation allowances recorded against certain deferred assets, related primarily to disallowed interest expense carryforwards due to uncertainty regarding the Company's ability to utilize those assets in future periods.