Note 9 - Income Taxes

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

INCOME TAXES

NOTE 9—INCOME TAXES

Income tax provisions for interim periods are generally based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent, or unusual items related specifically to interim periods. The income tax impacts of discrete items are recognized in the period these occur.

Our effective tax rate for the three months ended June 30, 2025 and 2024 was 12.7% benefit and 26.3% expense, respectively, excluding the impact of discrete items. Our effective tax rate for the six months ended June 30, 2025 and 2024 was 23.5% benefit and 24.5% expense, respectively, excluding discrete items. Discrete items for the periods included items for management compensation and stock-based compensation.