Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes We entered into a TEI of $42.1 million during the nine months ended September 30, 2026. The TEI owns projects related to solar energy and produces tax credits under Sections 48 and 48E of the Internal Revenue Code. The initial investment is included in “Payment for tax equity investment” on the Condensed Consolidated Statements of Cash Flows. As of September 30, 2026, the remaining unamortized balance of the investment totaled $16.7 million and was included within “” on our Condensed Consolidated Balance Sheets. We recognized net tax benefits of $3.6 million and $10.7 million related to our TEI during the three and nine months ended September 30, 2026, respectively. These recognized net tax benefits were recorded within “Income tax provision” on our Condensed Consolidated Statements of Comprehensive Income. The net tax benefits include tax credits and other income tax benefits of $12.1 million and $36.1 million during the three and nine months ended September 30, 2026, respectively, which were partially offset by amortization expense of $8.5 million and $25.4 million during the three and nine months ended September 30, 2026, respectively. The amortization expense is presented in “Amortization of tax equity investment” on the Condensed Consolidated Statements of Cash Flows.
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