INCOME TAXES |
9 Months Ended | ||||||
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Sep. 30, 2026 | |||||||
| Income Tax Disclosure [Abstract] | |||||||
| INCOME TAXES | NOTE 14—INCOME TAXES EFFECTIVE TAX RATE Our effective tax rate for both the three and nine months ended September 30, 2026, was 0.0%, compared to an effective tax rate of 24.3% and 21.3% for the three and nine months ended September 30, 2025, respectively. Our effective tax rate differs from the U.S. federal statutory rate of 21% as a result of our U.S. losses for which no benefit will be realized. The Company has historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to ordinary income or loss (pretax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. Consistent with this approach, the Company is using the estimated annual effective tax rate (the "AETR") method to calculate taxes for the period ending September 30, 2026, and is discretely recognizing specific events referred to as "discrete items" as they occur. The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.
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