INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The Company’s provision for income taxes is recorded on an interim basis based upon the Company’s estimate of the annual effective income tax rate for the full year applied to “ordinary” income or loss, adjusted each quarter for discrete items. The Company recorded a provision for income taxes of $45.8 million and $49.8 million for the three months ended June 30, 2026 and 2025, and $75.1 million and $82.1 million for the six months ended June 30, 2026 and 2025, respectively. The Company’s effective tax rate decreased to 24.2% in the second quarter of 2026 compared with 26.0% in the second quarter of 2025. During the six months ended June 30, 2026, the Company's effective tax rate decreased to 23.0% compared to 25.0% in the six months ended June 30, 2025. The reduced rate for both periods was primarily due to the purchase of transferable federal income tax credits during the three and six months ended June 30, 2026. Cash paid for taxes, net of refunds, during the six months ended June 30, 2026 was $134.8 million, inclusive of cash paid to taxing authorities and third parties for purchases of investment tax credits.
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