Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES:

The Company recorded its provision for income taxes for the three and nine months ended September 30, 2025 of ($52,998) and ($50,098), respectively, or 247.7% and 40.3%, respectively, of loss before income tax based on its annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a change in the Company’s annual estimated income tax rate and a tax benefit for excess percentage depletion. The effective tax rate for the nine months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a tax benefit for excess percentage depletion.

The tax provision for the nine months ended September 30, 2025 also included discrete tax adjustments primarily related to transaction costs and equity compensation.

The provision for income taxes for the three and nine months ended September 30, 2024 of $17,539 and $43,409, respectively, or 15.5% and 14.5%, respectively, of earnings before income tax was based on the Company's annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three and nine months ended September 30, 2024 differed from the U.S. federal statutory rate of 21% primarily due to the tax benefit for excess percentage depletion and foreign derived intangible income. The tax provision also included discrete tax adjustments related to equity compensation and changes to uncertain tax positions.