Subsequent events	6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]
Subsequent events	Note 11 - Subsequent events Debt repayment On July 2, 2025, we utilized available cash on hand to repay $250 million of our $550 million unsecured notes that mature in March 2026. We also paid $3.5 million of accrued interest and wrote off $0.5 million of unamortized debt issuance costs related to the early partial payoff of these notes. One Big Beautiful Bill Act On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was enacted into law. The Act introduces several provisions that affect corporate income taxes, including the permanent reinstatement of 100% bonus depreciation for qualified property, the immediate expensing of U.S.-based research and development expenditures, and modifications to the limitation on the deductibility of business interest expense. In accordance with applicable accounting guidance, the tax effects of new legislation are recognized in the period in which the legislation is enacted. As a result, the provisions of the Act are not reflected in our income tax provision for the quarter ended June 30, 2025. However, we have completed a preliminary assessment and determined that the financial statements would not have been materially affected had the Act been in force during the quarter. The Act also provides for a scheduled phase-out of the ability to transfer certain clean energy tax credits. We have historically, and in the current year, purchased such credits, which have provided favorable effective tax rate and cash tax benefits. We expect these benefits to end beginning in 2028; however, a reasonable quantitative estimate of the impact cannot yet be made. New accounting guidance not yet adopted In July 2025, the FASB issued new guidance related to estimating expected credit losses on accounts receivable and contract asset balances. This guidance allows all entities to elect to use a practical expedient whereby they can assume that current conditions as of the balance sheet date do not change for the remaining life of the account receivable or contract asset. The new guidance will be effective for us beginning in 2026 and must be adopted on a prospective basis. Early adoption of the guidance is permitted. We are currently evaluating the impact of this new guidance.

Subsequent events

6 Months Ended

Jun. 30, 2025

Note 11 - Subsequent events

Debt repayment

On July 2, 2025, we utilized available cash on hand to repay $250 million of our $550 million unsecured notes that mature in March 2026. We also paid $3.5 million of accrued interest and wrote off $0.5 million of unamortized debt issuance costs related to the early partial payoff of these notes.

One Big Beautiful Bill Act

On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was enacted into law. The Act introduces several provisions that affect corporate income taxes, including the permanent reinstatement of 100% bonus depreciation for qualified property, the immediate expensing of U.S.-based research and development expenditures, and modifications to the limitation on the deductibility of business interest expense.

In accordance with applicable accounting guidance, the tax effects of new legislation are recognized in the period in which the legislation is enacted. As a result, the provisions of the Act are not reflected in our income tax provision for the quarter ended June 30, 2025. However, we have completed a preliminary assessment and determined that the financial statements would not have been materially affected had the Act been in force during the quarter.

The Act also provides for a scheduled phase-out of the ability to transfer certain clean energy tax credits. We have historically, and in the current year, purchased such credits, which have provided favorable effective tax rate and cash tax benefits. We expect these benefits to end beginning in 2028; however, a reasonable quantitative estimate of the impact cannot yet be made.

New accounting guidance not yet adopted

In July 2025, the FASB issued new guidance related to estimating expected credit losses on accounts receivable and contract asset balances. This guidance allows all entities to elect to use a practical expedient whereby they can assume that current conditions as of the balance sheet date do not change for the remaining life of the account receivable or contract asset. The new guidance will be effective for us beginning in 2026 and must be adopted on a prospective basis. Early adoption of the guidance is permitted. We are currently evaluating the impact of this new guidance.