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Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Three months ended September 30,Nine months ended September 30,
(in thousands)2025202420252024
Income before income taxes
$25,843 $62,192 $53,891 $133,507 
Income tax (benefit) provision
(228)10,731 5,682 16,911 
Effective tax rate(0.9)%17.3 %10.5 %12.7 %

The difference between the (0.9)% effective tax rate and the U.S. federal statutory rate of 21.0% for the three months ended September 30, 2025, is primarily attributable to nontaxable clean fuel production credits and the reversal of certain
unrecognized tax benefits offset by state and local taxes, nondeductible compensation, and valuation allowances on losses in
foreign tax jurisdictions.

The difference between the 17.3% effective tax rate and the U.S. federal statutory tax rate of 21.0% for the three months ended September 30, 2024, was primarily attributable to the tax impact of noncontrolling interest and federal tax credits offset by state and local income taxes, tax impacts of foreign operations, nondeductible compensation, and changes in other discrete
tax adjustments.

The difference between the 10.5% effective tax rate and the U.S. federal statutory tax rate of 21.0% for the nine months ended September 30, 2025 was primarily attributable to the tax impact of noncontrolling interest, nontaxable clean fuel production credits and the reversal of certain unrecognized tax benefits offset by state and local taxes, nondeductible compensation, and valuation allowances on losses in foreign tax jurisdictions.
The difference between the 12.7% effective tax rate and the U.S. federal statutory tax rate of 21.0% for the nine months ended September 30, 2024, was primarily attributable to the tax impact of noncontrolling interest, federal tax credits, stock based compensation, and the reversal of certain unrecognized tax benefits offset by state and local income taxes, tax impacts of foreign operations and nondeductible compensation.