Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Taxes | |
| Income Taxes | Note 17. Income Taxes The Company had no current income tax benefit (expense) for the three and six months ended June 30, 2026, respectively. The Company’s current income tax benefit (expense) was ($0.5) million for each of the three and six months ended June 30, 2025, respectively. The Company’s deferred income tax benefit (expense) was ($5.9) million and $5.7 million for the three and six months ended June 30, 2026, respectively. The Company’s deferred income tax benefit (expense) was ($1.4) million and $0.1 million for the three and six months ended June 30, 2025, respectively. The effective tax rates for the three and six months ended June 30, 2026 were 25.4% and 21.4%, respectively. The effective tax rates for the three and six months ended June 30, 2025 were 23.1% and 42.0%, respectively. The difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate for the three and six months ended June 30, 2026 was primarily attributable to unrealized hedging book losses for 2026. This represents a positive income driver, resulting in an effective tax rate that exceeded the statutory rate. The difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate for the three and six months ended June 30, 2025 was primarily from higher discrete realized hedging income tax expense and lower book income in the second quarter of 2025. |