XML 94 R76.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes - Reconciliation ASU 2023-09 (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 18, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount        
Bermuda national statutory tax rate   $ 80,629    
Effect of rates different than statutory     $ 51,433 $ 74,581
Valuation allowance   21,518 10,094 22,533
Other reconciling items   855 2,801 (8,053)
State and local income taxes     1,698 3,838
Changes in unrecognized tax benefits   (6,142) (1,828) 5,854
Income tax expense (benefit)   $ 163,095 $ 56,947 $ 79,220
Percent        
Bermuda national statutory tax rate   15.00% 0.00% 0.00%
Valuation allowance   4.00%    
Other reconciling items   0.20%    
Changes in unrecognized tax benefits   (1.10%)    
Income tax expense (benefit)   30.30% (183.50%) 61.40%
Bermuda        
Percent        
Bermuda national statutory tax rate 15.00%      
Argentina        
Amount        
Effect of rates different than statutory   $ 4,182    
Foreign withholding tax   4,774    
Valuation allowance   (5,940)    
Other reconciling items   $ (1,372)    
Percent        
Effect of rates different than statutory   0.80%    
Foreign withholding tax   0.90%    
Valuation allowance   (1.10%)    
Other reconciling items   (0.30%)    
Luxembourg        
Amount        
Internal restructuring   $ (26,502)    
Valuation allowance   26,722    
Other reconciling items   $ 1,260    
Percent        
Internal restructuring   (4.90%)    
Valuation allowance   5.00%    
Other reconciling items   0.20%    
Netherlands        
Amount        
Other reconciling items   $ 2,009    
Tax Credits   $ (3,960)    
Percent        
Other reconciling items   0.40%    
Tax credits   (0.70%)    
Russia        
Amount        
Valuation allowance   $ 5,638    
Other reconciling items   $ (2,375)    
Percent        
Valuation allowance   1.00%    
Other reconciling items   (0.40%)    
Saudi Arabia        
Amount        
Effect of rates different than statutory   $ 7,787    
Interest on shareholder loan   (5,834)    
Foreign withholding tax   3,722    
Other reconciling items   $ (2,646)    
Percent        
Effect of rates different than statutory   1.40%    
Interest on shareholder loan   (1.10%)    
Foreign withholding tax   0.70%    
Other reconciling items   (0.50%)    
United States        
Amount        
Effect of rates different than statutory   $ 28,233    
Nontaxable or nondeductible items   3,194    
Other reconciling items   205    
State and local income taxes   $ 16,120    
Percent        
Effect of rates different than statutory   5.30%    
Nontaxable or nondeductible items   0.60%    
Other reconciling items   0.00%    
State and local income taxes   3.00%    
Other jurisdictions        
Amount        
Foreign tax effects   $ 11,018    
Percent        
Foreign tax effects   2.00%