v3.26.3
INCOME TAXES
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES
9. INCOME TAXES
The current and deferred components of the provision for income taxes are as follows (unaudited):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Current:
Ireland
$16,393 $2,867 $42,589 $6,300 
Cayman Islands— — — — 
Bermuda5,232 — 12,497 — 
United States:
Federal(529)(7,859)1,879 — 
State and local(159)1,518 565 3,063 
Other Non-Ireland including Pillar Two top-up tax
3,353 44 8,640 145 
Total current provision
24,290 (3,430)66,170 9,508 
Deferred:
Ireland
(2,047)17,045 12,111 47,957 
Cayman Islands— — — — 
Bermuda839 8,052 2,518 18,689 
United States:
Federal(2,013)7,092 91 12,524 
State and local(159)(1,496)565 950 
Other Non-Ireland
1,329 (933)(2,137)(2,561)
Total deferred provision
(2,051)29,760 13,148 77,559 
Total provision for income taxes
$22,239 $26,330 $79,318 $87,067 
The Company is incorporated in the Cayman Islands where income taxes are not imposed. Taxable income or loss generated by the Company’s corporate subsidiaries is subject to Irish, U.S. federal, state and foreign corporate income tax in locations where they conduct business.
The Company’s effective tax rate differs from the Irish statutory rate of 12.5% primarily due to the impact of Pillar II and the portion of its income that is subject to taxation in jurisdictions other than Ireland.
As of and for the nine months ended September 30, 2026, the Company had not established a liability for uncertain tax positions as no such positions existed. In general, the Company’s tax returns and the tax returns of its corporate subsidiaries are subject to U.S. federal, state, local and foreign income tax examinations by tax authorities. Generally, the Company is not subject to examination by taxing authorities for tax years prior to 2022. The Company does not believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly change within 12 months of the reporting date.