INCOME TAXES |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 12. INCOME TAXES
The effective income tax rates for the three months ended September 30, 2026 and 2025 were 23.3% and 27.2%, respectively, and for the nine months ended September 30, 2026 and 2025 were 23.4% and 22.9%, respectively.
The period-over-period changes in the effective income tax rates reflect changes in earnings between the comparative periods and the relative impacts of certain items recognized in each respective period, including higher US minimum tax, the absence of US investment tax credits in 2026, and the impact of rate-regulated accounting for income taxes largely attributable to the Reaccelerated Investment Incentive Property rules enacted in March 2026 as part of Bill C-15 (45-1), Budget Implementation Act, No. 1. |