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

18.INCOME TAXES

Components of income tax expense are as follows:

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in thousands)

Current:

Federal

$

6,289

$

4,340

$

12,293

$

9,063

State

 

437

 

285

 

849

 

605

Foreign

(60)

(83)

 

6,666

 

4,625

 

13,059

 

9,668

Deferred:

Federal

 

(371)

 

593

 

(3,552)

 

(184)

State

 

(54)

 

130

 

(581)

 

46

 

(425)

 

723

 

(4,133)

 

(138)

Income tax expense

$

6,241

$

5,348

$

8,926

$

9,530

The effective income tax rates for our income tax expense for the three and six months ended June 30, 2026 and 2025 are less than the federal statutory rate, primarily due to the portion of income not subject to income taxes.

Our 2020 through 2025 tax years remain open to examination by tax authorities, and lower-tier partnership income tax returns for the tax years ended December 31, 2020 and 2021 are being audited by the Internal Revenue Service.