INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| INCOME TAXES | |
| INCOME TAXES | 7. INCOME TAXES The Company generally determines its periodic income tax expense or benefit based upon the current period income or loss and the annual estimated tax rate for the Company adjusted for discrete items including changes to prior period estimates. In certain instances, the Company uses the discrete method when it believes the actual year-to-date effective rate provides a more reliable estimate of its income tax rate for the period. The estimated tax rate is revised, if necessary, at the end of each successive interim period to the Company’s current annual estimated tax rate. For the three months ended June 30, 2026, the effective rate reflects a provision of 27.1% compared to a provision of 41.3% for the comparable period in the prior year. For the six months ended June 30, 2026, the effective rate reflects a provision of 38.1% compared to a provision of 34.5% for the comparable period in the prior year. The change in effective tax rate is primarily due to the smaller impact of discrete and permanent adjustments on pretax income. |