v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In millions)
Income before income taxes$1,172 $246 $2,011 $245 
Income tax expense
$279 $36 $468 $37 
Effective income tax rate (1)
23.9 %14.5 %23.3 %15.1 %
(1)    Due to rounding of reported numbers, some amounts may not calculate exactly.
For the three and six months ended June 30, 2026, the effective tax rate was higher than the statutory rate of 21.0%, which was primarily due to state and local income taxes on pre-tax earnings, partially offset from the benefits of nontaxable renewable fuel incentives. For the three and six months ended June 30, 2025, the effective tax rate was lower than the statutory rate of 21.0% primarily due to the relationship between pre-tax results and a discrete tax benefit associated with the revaluation of deferred tax liabilities from state tax law changes enacted in the second quarter of 2025.