INCOME TAXES |
9 Months Ended |
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Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full-year taxes, adjusted for the impact of discrete quarterly items. The effective tax rate for the three months ended September 30, 2026 and 2025, respectively, was 45.6% and 17.1%. The effective tax rate for the three months ended September 30, 2026, reflects a loss on the deconsolidation of our Russian subsidiary on September 21, 2026, which is not deductible for tax purposes (25.7%). The effective tax rate for the three months ended September 30, 2025 reflects a benefit related to the gain from remeasurement of an equity investment upon consolidation (4.2%), and a deferred tax benefit resulting from the release of a valuation allowance (2.7%). The effective tax rate for the nine months ended September 30, 2026 and 2025, was 28.1% and 20.4% respectively. The effective tax rate for the nine months ended September 30, 2026 reflects a negative 5.8% tax impact from the loss on deconsolidation of our Russian subsidiary on September 21, 2026. The effective tax rate for the nine months ended September 30, 2025 reflects deferred tax benefits from valuation allowance releases (3.1%), and a benefit related to the gain from remeasurement of an equity investment upon consolidation (1.6%). Given our current earnings and anticipated future earnings, we believe there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to support the realization of $2.0 million to $6.0 million of deferred tax assets, for which there is currently a corresponding valuation allowance. Release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense for the period in which the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change pending the level of profitability that we are able to achieve.
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