Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 19 – Income Taxes
The Company’s tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items. The Company’s reported effective income tax rate was 7.2% and 128.5% for the three months ended June 30, 2026 and 2025, respectively. The effective tax rate for the three months ended June 30, 2026 is lower than the effective tax rate for the three months ended June 30, 2025 primarily driven by the release of the majority of the valuation allowance in the United States on deferred tax assets in the second quarter of 2025, and the effects of permanent differences, such as non-taxable gains associated with mark-to-market adjustments on stock warrants.
The Company's reported effective tax rate was 10.4% and (451.0)% for the six months ended June 30, 2026 and 2025, respectively. The effective tax rate for the six months ended June 30, 2026 differs from the effective tax rate for the six months ended June 30, 2025 due to the release of the majority of the valuation allowance in the United States on deferred tax assets in the second quarter of 2025, and the effects of permanent differences, such as non-taxable gains associated with mark-to-market adjustments on stock warrants. The effective tax rates for the three and six months ended June 30, 2026 differ from the 21% United States statutory tax rate due to the effects of permanent differences, such as non-taxable gains associated with mark-to-market adjustments on stock warrants. |