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Note 9 - Income Taxes | 6 Months Ended
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Jun. 30, 2025
Notes to Financial Statements |
Income Tax Disclosure [Text Block] | Note 9 — Income Taxes Our effective tax rates for the three and six months ended June 30, 2025 and 2024, were as follows:
​ |  | Three months ended |  |  | Six months ended |
​ |  | June 30, |  |  | June 30, |
​ |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Effective tax rate |  |  | 20.4 | % |  |  | 23.8 | % |  |  | 21.0 | % |  |  | 21.3 | %
The effective tax rate for the three months ended June 30, 2025, compared to the same period in 2024, was impacted by the disallowed noncontrolling interest from seeded investment products. The effective tax rate for the six months ended June 30, 2025, compared to the same period in 2024, was similarly impacted by the disallowed noncontrolling interest from seeded investment products. However, the 2024 effective tax rate also reflected a benefit from the reclassification of accumulated foreign currency translation adjustments to net income related to liquidated JHG entities. As of June 30, 2025, we had $27.8 million of unrecognized tax benefits held for uncertain tax positions. On July 4, 2025, U.S. President Donald Trump signed the One Big Beautiful Bill Act (“OBBBA”). Under U.S. GAAP, tax law changes are recognized in the period in which they are enacted. For U.S. federal tax purposes, the enactment date for U.S. GAAP is the date the President signs the bill into law, which occurred after the quarter ended June 30, 2025. The OBBBA introduces several changes to corporate taxation, including modifications to the capitalization of research and development expenses, limitations on deductions for interest expense and accelerated fixed asset depreciation. Management does not expect the OBBBA to have a material impact on the consolidated financial statements.

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