Income Taxes

3 Months Ended

Mar. 31, 2025

Income Taxes [Abstract]

Income Taxes

(13) Income Taxes:

The following is a reconciliation of the provision for income taxes computed at the federal statutory rate to income taxes computed at the effective rates:

	For the three months ended ‎March 31,
	2025		2024
Consolidated tax provision at federal statutory rate	21.0	%	21.0	%
State income tax provisions, net of federal
income tax benefit	(5.8)		12.0
Federal tax refund adjustment	-		33.2
Tax reserve adjustment	(0.3)		(0.4)
Tax Credit	0.5		0.7
Share based payments	2.4		-
Sec.162(m) - nondeductible Executive Compensation	(1.6)		(2.7)
Transaction costs	(1.3)		-
All other, net	0.1		(0.1)
Effective tax rate	15.0	%	63.7	%

Frontier considered positive and negative evidence in regard to evaluating certain state deferred tax assets during the first quarter of 2025, including the development of recent years of pre-tax book losses. The state tax rate includes state valuation allowances. On the basis of this evaluation, a valuation allowance of $364 million ($287 million net of federal benefit) was recorded as of March 31, 2025.