v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company is a Bermuda exempted company. Bermuda enacted a corporate income tax which became effective January 1, 2025. The Company and its subsidiaries are currently not within the scope of the Bermuda Corporate Income Tax Act and are not subject to income tax in Bermuda. However, the Company's subsidiaries are subject to taxation in certain foreign jurisdictions, including the US, in which such subsidiaries conduct business.

The following table summarizes the Company's effective tax rate:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Effective income tax rate9.7 %9.7 %8.7 %9.2 %

The Company has computed the provision for income taxes based on the estimated annual effective tax rate and the application of discrete items, if any, in the applicable period. The effective tax rate for the three months ended June 30, 2026 was consistent with the same period in 2025. For the six months ended June 30, 2026, the effective tax rate decreased compared to the same period in 2025, primarily due to a benefit from the purchase of energy tax credits recorded in the first quarter of 2026.