Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 6. Income Taxes The Company's consolidated effective income tax rate may change periodically due to changes in enacted statutory tax rates, changes in tax law or policy, changes in the composition of taxable income from the countries in which it operates, the Company's ability to utilize net operating loss and tax credit carryforwards, changes in permanent reinvestment assertions, and changes in unrecognized tax benefits. The provision for income taxes on consolidated income before income taxes totaled $6,235,000 and $5,845,000 for the three months ended June 30, 2026 and 2025, respectively. The overall effective tax rate decreased to 31.7% for the three months ended June 30, 2026 compared with 42.8% for the 2025 period primarily due to a one-time expense of $1,328,000 relating to administrative guidance issued by a foreign tax authority in 2025. The provision for income taxes on consolidated income before income taxes totaled $8,610,000 and $8,325,000 for the six months ended June 30, 2026 and 2025, respectively. The overall effective tax rate decreased to 32.0% for the six months ended June 30, 2026 compared with 36.4% for the 2025 period primarily due to a one-time expense of $1,328,000 relating to administrative guidance issued by a foreign tax authority in 2025. |