INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 6. INCOME TAXES The Company recorded income tax provision of $(1.2) for the three months ended June 30, 2026 and income tax benefit of $1.8 for the three months ended June 30, 2025. The Company recorded income tax provision of $4.8 and $25.2 for the six months ended June 30, 2026 and June 30, 2025, respectively. In calculating the provision for income taxes on an interim basis, the Company uses an estimate of the annual effective tax rate based upon currently known facts and circumstances and applies that rate to its year-to-date earnings or losses. The Company’s estimated annual effective tax rate is based on expected income and statutory tax rates and takes into consideration permanent differences between financial statement and tax return income applicable to the Company in the various jurisdictions in which the Company operates. The effect of discrete items, such as changes in estimates, changes in enacted tax laws or rates or tax status, and unusual or infrequently occurring events, is recognized in the interim period in which the discrete item occurs. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the result of new judicial interpretations or regulatory or tax law changes. The Company's effective tax rate was (7.7)% and 2.7% for the three months ended June 30, 2026, and June 30, 2025, respectively. The Company's effective tax rate was (5.2)% and (76.1)% for the six months ended June 30, 2026, and June 30, 2025, respectively. The Company’s overall effective tax rate differs from the U.S. statutory rate primarily due to pass-through income which flows to the Company from its domestic subsidiaries, non-deductible expenses and the revaluation of the deferred tax balance as a result of the Husky Transaction.
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