Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Taxes [Abstract] | |
| Income Taxes | 12. Income Taxes
We record any change to a previously recorded valuation allowance as a result of re-measuring existing temporary differences and loss carryforwards as a component of income tax expense (benefit). The valuation allowance against certain deferred income tax assets was $2,072 and $2,345 at June 30, 2026 and December 31, 2025, respectively.
At June 30, 2026, and December 31, 2025, we had unrecognized tax benefits, accrued interest and penalties, and no significant uncertain tax positions. interest and penalties on uncertain tax positions were recognized during the six-month period ended June 30, 2026, or the year ended December 31, 2025.
Our effective tax rate for the six months ended June 30, 2026, was 20.6%, which reflects the impact of tax-exempt investment income on the calculation of the Company’s income tax provision. The effective tax rate was not impacted by the change in valuation allowance noted above. The effective tax rate was 26.2% for the six months ended June 30, 2025, which was impacted by a change in the recorded valuation allowance. |