Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure [Text Block] | Note 6 — Income Taxes
The Company’s income tax expense of $1.7 million for the three months ended June 30, 2026, reflects an effective tax rate of 22.5%. The Company’s income tax benefit of $0.6 million for the three months ended June 30, 2025, reflects an effective tax rate of 20.7%. The increase in tax expense for the quarter ended June 30, 2026 compared to the corresponding period in 2025 was primarily attributable to higher pretax earnings and an increase in tax expense from discrete items recognized during the current-year period.
The Company’s income tax expense of $0.9 million for the six months ended June 30, 2026 reflects an effective tax rate of 35.1%. The Company’s income tax benefit of $1.8 million for the six months ended June 30, 2025 reflects an effective tax rate of 27.3%. The increase in tax expense during the six months ended June 30, 2026 compared to the corresponding period in 2025 was primarily attributable to higher pretax earnings and an increase in tax expense from discrete items recognized during the current-year period.
From time to time, in the normal course of business, the Company may be audited by federal, state and foreign tax authorities. At this time, the Company has at least one audit underway. The Company currently cannot assess the impact of the outcome on its condensed consolidated financial statements. |