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Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

(20) Subsequent Events

On July 4, 2025, the One Big Beautiful Bill was enacted, introducing significant and wide-ranging changes to the U.S. tax system as previously noted in Footnote 15. Under U.S. GAAP, the effects of changes in tax laws are recognized in the period in which the new law is enacted. Accordingly, the impact of the OBBBA will be reflected in the Company’s financial statements for the third quarter of 2025. The Company is currently assessing the impact of the OBBBA and, based on preliminary analysis, our annual effective tax rate (AETR) may change by approximately 394 bps in the third quarter as a result of the Company being able to utilize the immediate expensing of previously capitalized domestic R&E expenditures.

 

On July 1, 2025, the Company received the Notice of Effectiveness for the Company's revised S-3 filing and ATM Equity Offering as discussed in Note 14.