INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of income before income taxes

For financial reporting purposes, Income before income taxes includes the following components (amounts in thousands):

	Years Ended
	December 31, 2024		December 31, 2023		December 31, 2022
United States	$	127,366	$	64,105	$	86,321
Foreign	298,726		218,035		186,547
	$	426,092	$	282,140	$	272,868

Components of income tax expense (benefit)

Our Income tax expense consisted of (amounts in thousands):

	Years Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Current:
Federal	$	51,643	$	24,046	$	29,228
State	715		(68)		467
Foreign	32,901		24,499		23,067
	$	85,259	$	48,477	$	52,762
Deferred and others:
Federal	$	(92)	$	(763)	$	(957)
State	(2)		(14)		(18)
Foreign	8,448		(5,692)		(18,861)
	$	8,354	$	(6,469)	$	(19,836)
Total income tax expense	$	93,613	$	42,008	$	32,926

Schedule of income tax expense (benefit) and effective tax rate

The provision for income taxes for the years ended December 31, 2024, 2023, and 2022 differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to pre-tax income (net of non-

controlling interest in income of consolidated subsidiary and loss from equity investment) from operations as a result of the following differences (amounts in thousands):

	Years Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Total expense computed by applying federal rates	$	89,480	$	59,249	$	57,303
State and provincial income taxes, net of federal benefit	914		625		545
Excess depletion	(2,473)		(2,259)		(1,907)
Statutory tax attributable to non-controlling interest	(195)		(224)		(363)
Effect of foreign earnings	(887)		(10,116)		(8,846)
Unrealized foreign exchange gains	896		(988)		853
Rate adjustment	1,279		(6)		—
Changes in estimates	(1,062)		11		119
Valuation allowance	3,842		(6,030)		(15,877)
Other	1,819		1,746		1,099
Total income tax expense	$	93,613	$	42,008	$	32,926

Schedule of deferred tax assets and liabilities

The tax effects of temporary differences and carryforwards, which give rise to our deferred tax assets and liabilities on December 31, 2024 and 2023 are as follows (amounts in thousands):

	December 31, 2024		December 31, 2023
Deferred tax assets:
Stock-based compensation	$	1,989	$	1,952
Net operating losses	5,863		4,683
Foreign tax credits	39,748		35,751
Amortizable tax goodwill	37,672		46,821
Other	6,487		5,044
Total deferred tax assets	91,759		94,251
Valuation allowance	(44,656)		(40,814)
Net deferred tax assets	$	47,103	$	53,437
Deferred tax liabilities:
Mineral property basis	$	(123,482)	$	(122,543)
Unrealized foreign exchange gains	(582)		(582)
Other	(1,179)		(97)
Total deferred tax liabilities	(125,243)		(123,222)
Total net deferred taxes	$	(78,140)	$	(69,785)