XML 147 R130.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes - Reconciliation of Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of statutory tax to effective tax      
Federal statutory tax rate $ 100,761 $ 85,262 $ 87,670
REIT and other non-taxable income (71,436) (64,567) (88,281)
State and local income taxes, net of federal effect 7,312 5,372 (159)
Other 82 (635) 88
Total income tax provision (benefit) $ 36,719 $ 25,432 $ (682)
Reconciliation of statutory tax rate to effective tax rate      
Federal statutory tax rate 21.00% 21.00% 21.00%
REIT and other non-taxable income (14.90%) (15.90%) (21.20%)
State and local income taxes, net of federal effect 1.60% 1.30% 0.00%
Other 0.00% (0.20%) 0.00%
Effective tax rate 7.70% 6.20% (0.20%)