INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 9. INCOME TAXES
The effective income tax rates for the three months ended June 30, 2026 and 2025 were 22.0% and 22.3%, respectively, and for the six months ended June 30, 2026 and 2025 were 23.5% and 22.1%, respectively.
The period-over-period changes in the effective income tax rates are due to higher US minimum tax, the absence of US investment tax credits in 2026, and the effects of rate-regulated accounting for income taxes, mainly driven by the Reaccelerated Investment Incentive Property rules enacted in March 2026 as part of Bill C-15 (45-1), Budget Implementation Act, No. 1, relative to lower earnings over the comparative periods. |