Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Taxes | |
| Income Taxes | Note 17. Income Taxes The Company’s current income tax benefit (expense) was $0.0 million and less than ($0.1) million for the three months ended March 31, 2026 and 2025, respectively. The Company’s deferred income tax benefit (expense) was $11.6 million and $1.5 million for the three months ended March 31, 2026 and 2025, respectively. The effective tax rates for the three months ended March 31, 2026 and 2025 were 23.3% and 20.8%, respectively. The difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate for the three months ended March 31, 2026 was primarily attributable to vested stock compensation and unrealized hedging book losses for 2026. Both items represent negative income drivers and moved in the same direction, resulting in an effective tax rate that exceeded the statutory rate. The difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate for the three months ended March 31, 2025 was primarily due to vested stock compensation. |