v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Three months ended June 30,Six months ended June 30,
(in thousands)2026202520262025
Income before income taxes
$67,337 $24,835 $101,229 $28,048 
Income tax provision
13,389 8,028 17,949 5,910 
Effective tax rate19.9 %32.3 %17.7 %21.1 %
The difference between the 19.9% effective tax rate and the U.S. federal statutory rate of 21.0% for the three months ended June 30, 2026, is primarily attributable to nontaxable clean fuel production credits offset by state and local income taxes, nondeductible compensation, valuation allowances on losses in foreign tax jurisdictions, and other taxes.

The difference between the 32.3% effective tax rate and the U.S. federal statutory tax rate of 21.0% for the three months ended June 30, 2025, was primarily attributable to interest accrued on unrecognized tax benefits and valuation allowances on losses in foreign tax jurisdictions offset by the tax impact of noncontrolling interest.