Income Taxes

9 Months Ended

Sep. 30, 2024

Income Taxes

Income Taxes

Note 13. Income Taxes

The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the difference is expected to reverse. Additionally, the impact on deferred tax assets and liabilities of changes in tax rates is reflected in the financial statements in the period that includes the date of enactment.

The Company reported income tax benefit of $6.5 million and $35.6 million for the three months ended September 30, 2024 and 2023, respectively, and income tax benefit of $10.1 million and $84.4 million for the nine months ended September 30, 2024 and 2023, respectively.