| A summary of the Company’s income tax expense (recovery) is as follows: Income Tax Expense (Recovery) in Net Earnings
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Three Months Ended
June 30 |
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Six Months Ended
June 30 |
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(in thousands) |
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2026 |
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2025 |
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2026 |
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2025 |
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| Current income tax expense (recovery) |
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$ |
(3,273) |
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|
$ |
28 |
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|
$ |
(11,581) |
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|
$ |
72 |
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| Global minimum income tax expense |
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|
90,156 |
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|
49,634 |
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186,599 |
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|
94,700 |
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| Total current income tax expense |
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$ |
86,883 |
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$ |
49,662 |
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$ |
175,018 |
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$ |
94,772 |
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| Total deferred income tax expense (recovery) |
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14,913 |
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(3,928) |
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35,858 |
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(6,259) |
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| Total income tax expense recognized in net earnings |
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$ |
101,796 |
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$ |
45,734 |
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$ |
210,876 |
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$ |
88,513 |
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| Effective tax rate |
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16% |
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14% |
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16% |
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14% |
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