XML 142 R103.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes - Schedule of Reconciliation of Federal Statutory Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Statutory U.S. federal tax rate $ 362,347 $ 311,191 $ 306,552
Tax credits      
Tax credits and benefits under the PAM, net of amortization (29,268) (26,147) (4,299)
Energy tax credit — solar (42,406) (52,722) (70,364)
Energy tax credit — energy storage (34,408) (11,143) 0
New markets tax credit 0 0 (21,378)
Other tax credits (23,802) (18,906) (34,076)
Changes in valuation allowance 13,353 0 0
Nontaxable or nondeductible items      
Nondeductible FDIC insurance premiums 8,474 7,719 7,007
Other nontaxable or nondeductible items 4,899   217
Other nontaxable or nondeductible items   (15,041)  
Other, net 7,549 (3,879) (4,544)
U.S. state and local income taxes, net of U.S. federal income tax effect 125,638 116,091 118,236
Foreign tax effects 7,805 8,165 835
Changes in unrecognized tax benefits 91 947 423
Income tax expense $ 400,272 $ 316,275 $ 298,609
Percent      
Statutory U.S. federal tax rate 21.00% 21.00% 21.00%
Tax credits      
Tax credits and benefits under the PAM, net of amortization (1.70%) (1.80%) (0.30%)
Energy tax credit — solar (2.50%) (3.50%) (4.80%)
Energy tax credit — energy storage (2.00%) (0.70%) 0.00%
New markets tax credit 0.00% 0.00% (1.50%)
Other tax credits (1.40%) (1.30%) (2.30%)
Changes in valuation allowance 0.80% 0.00% 0.00%
Nontaxable or nondeductible items      
Nondeductible FDIC insurance premiums 0.50% 0.50% 0.50%
Other nontaxable or nondeductible items 0.30%   0.00%
Other nontaxable or nondeductible items   (1.00%)  
Other, net 0.40% (0.30%) (0.30%)
U.S. state income taxes, net of U.S. federal income tax effect 7.30% 7.80% 8.10%
Foreign tax effects 0.50% 0.50% 0.10%
Changes in unrecognized tax benefits 0.00% 0.10% 0.00%
Effective tax rate 23.20% 21.30% 20.50%