Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 13. Income Taxes The Company's effective income tax rate was 22.8% for the three months ended March 31, 2026, compared to 36.7% for the three months ended March 31, 2025. The change in the effective tax rate was primarily driven by significantly higher pre-tax book income and changes in the mix of earnings and losses across jurisdictions in 2026. The effective tax rates for the three months ended March 31, 2026 and 2025 differed from the U.S. federal statutory tax rate of 21% primarily due to the mix of earnings and losses across jurisdictions subject to different tax rates, nontaxable income from flow-through entities, and the impact of valuation allowances on deferred tax assets. Given current earnings and the Reorganization, it is reasonably possible that within the next twelve months sufficient sources of income may become available to support the release of a portion of the valuation allowance. A release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. |