INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | Â |
| INCOME TAXES | INCOME TAXES
We recorded a tax provision for income taxes of $137 for the three months ended June 30, 2026 and a benefit of $2,900 for the three months ended June 30, 2025, respectively. We recorded an income tax benefit of $3,047 and $1,712 for the six months ended June 30, 2026 and 2025, respectively.
The effective tax rate provision was 0.7% for three months ended June 30, 2026, compared to the effective tax rate benefit of 23.0% for the three months ended June 30, 2025. The effective tax rate benefit was 123.0% for the six months ended June 30, 2026, compared to the effective tax rate benefit of 20.9% for the six months ended June 30, 2025.
The principal reason for the higher effective rate for the three months ended June 30, 2026 is higher income offset by higher investment tax credits forecasted on assets to be placed in service during 2026 versus lower income in 2025 as well as lower investment tax credits earned in 2025. The principal reason for the lower effective rate for the six months ended June 30, 2026 is due to higher investment tax credits forecasted on assets to be placed into service during 2026 versus 2025.
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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