Income Tax |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax | 13. Income Tax For the three months and six months ended June 30, 2026, the effective tax rate on income (loss) before provision for income tax was 16% and 18%, respectively. The Company’s effective tax rate for both the three months and six months ended June 30, 2026 differed from the U.S. statutory rate of 21% primarily due to tax benefits from (i) non-taxable investment income; and (ii) low income housing and other tax credits, partially offset by the impact of tax equity investments. For the three months and six months ended June 30, 2025, the effective tax rate on income (loss) before provision for income tax was 12% and 13%, respectively. The Company’s effective tax rate for the three months ended June 30, 2025 differed from the U.S. statutory rate of 21% primarily due to tax benefits from (i) non-taxable investment income; and (ii) low income housing and other tax credits, partially offset by the impact of tax equity investments. The Company’s effective tax rate for the six months ended June 30, 2025 differed from the U.S. statutory rate of 21% primarily due to tax benefits from (i) non-taxable investment income; (ii) low income housing and other tax credits, partially offset by the impact of tax equity investments; and (iii) the corporate tax deduction for stock compensation.
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