INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The Company’s provision for income taxes has been calculated by applying an estimate of the annual effective tax rate for the full year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items). For the six months ended June 30, 2026, the Company’s income tax expense was $902,000 compared to an income tax benefit of $837,000 for the six months ended June 30, 2025. Effective tax rates were 24% and 21% for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, the Company had income tax receivables of $590,000. The Company classifies interest and penalties incurred on tax payments as income tax expense. For the six months ended June 30, 2026, the Company’s effective tax rate varied from the statutory tax rates primarily due to permanent differences related to Internal Revenue Code Section 162(m) limitations, state taxes and mineral depletion. Internal Revenue Code Section 162(m) compensation deduction limitations occurred as a result of changes in tax law arising from the 2017 Tax Cuts and Jobs Act.
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