v3.26.1
Taxes on Income
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Taxes on Income

(8) Taxes on Income

Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Earnings (loss) before taxes on income:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

118,303

 

 

$

124,387

 

 

$

223,049

 

 

$

224,961

 

Foreign

 

 

104

 

 

 

(459

)

 

 

62

 

 

 

(690

)

 

$

118,407

 

 

$

123,928

 

 

$

223,111

 

 

$

224,271

 

Provision (benefit) for taxes on income:

 

 

 

 

 

 

 

 

 

 

 

 

Federal:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

18,528

 

 

$

19,642

 

 

$

30,803

 

 

$

37,808

 

Deferred

 

 

6,440

 

 

 

6,939

 

 

 

14,380

 

 

 

8,484

 

State and local:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

1,612

 

 

 

2,861

 

 

 

2,705

 

 

 

6,198

 

Deferred

 

 

2,037

 

 

 

108

 

 

 

3,910

 

 

 

1,133

 

Foreign - current

 

 

(8

)

 

 

—

 

 

 

189

 

 

 

—

 

 

$

28,609

 

 

$

29,550

 

 

$

51,987

 

 

$

53,623

 

 

The Company is currently under examination by the Internal Revenue Service ("IRS") for the 2024 tax year. In addition, the Company's federal income tax returns for the 2022 through 2023 tax years remain open to examination under the applicable statutes of limitations.

 

The Company believes its tax positions are more likely than not to be sustained upon examination and has recorded liabilities for uncertain tax positions when appropriate. However, the ultimate resolution of tax examinations and related matters could differ from amounts currently recorded and may affect the Company's effective tax rate, results of operations, and cash flows in future periods. The Company is also subject to examination by various state and local taxing authorities.