v3.25.4
VARIABLE INTEREST ENTITIES (Tables)
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
December 31, 2025December 31, 2024
(In thousands)
Unconsolidated Variable Interest Entities
Tax credit investments included in equity investments$4,479 $4,732 
Loan commitments45,012 49,744 
Funded portion of loan commitments44,525 49,744 
The following table summarizes the tax benefits conveyed by the Company’s solar generation VIE investments:
Year Ended
December 31,
202520242023
(In thousands)
Tax credits and other tax benefits recognized in equity method investments income (1)
$285 $3,441 $1,660 
Tax credits and other tax benefits recognized in income tax expense (2)
6,693 — — 
Investment amortization recognized in income tax expense(2)
5,242 — — 
(1) Related to equity investments that do not qualify for PAM
(2) Related to equity investments that do qualify for PAM
The following table shows the cash flows related to the total income tax benefits presented in the line items in the Consolidated Statements of Cash Flows for investments accounted for using the PAM:
Year Ended
December 31,
2025
(In thousands)
Net Income$1,451 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization(5,242)
Increase in other assets6,693