v3.26.1
INCOME TAXES
 6 Months Ended
Jun. 30, 2026
INCOME TAXES  
INCOME TAXES

10.          INCOME TAXES

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The Company’s income taxes are described in Note 10 to the Consolidated Financial Statements included in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

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Income Taxes: Income taxes consist of the following for the three and six months ended June 30, 2026 and 2025:

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Three Months Ended June 30, 

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Six Months Ended June 30, 

(In millions)

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2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Current:

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Federal

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$

26.9

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$

22.4

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$

34.6

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$

38.5

State

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4.4

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3.5

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5.8

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6.1

Foreign

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1.4

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1.1

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2.3

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1.8

Total current tax expense

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32.7

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27.0

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42.7

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46.4

Deferred:

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Federal

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1.8

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0.2

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3.0

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0.3

State

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0.6

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(0.2)

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0.7

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0.1

Foreign

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(0.6)

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—

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(0.6)

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0.1

Total deferred tax expense

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1.8

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—

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3.1

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0.5

Total income taxes

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$

34.5

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$

27.0

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$

45.8

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$

46.9

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Income Tax Legislation: On July 4, 2025, new legislation commonly referred to as the One Big Beautiful Bill Act (the “Act”) was signed into law. Among other things, the Act provides for numerous changes to existing tax law including extending or making permanent certain tax provisions of the Tax Cuts and Jobs Act of 2017 that were set to expire. Certain provisions of the Act were effective in fiscal 2025 and in the beginning of fiscal 2026, while others are effective in future years. The application of the Act did not have a material impact on the Company’s effective tax rate during the three and six months ended June 30, 2026 and 2025.