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Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

5. Income Taxes

The Company's consolidated effective income tax rate may change periodically due to changes in enacted statutory tax rates, changes in tax law or policy, changes in the composition of taxable income from the countries in which it operates, the Company's ability to utilize net operating loss and tax credit carryforwards, and changes in unrecognized tax benefits.

The provision for income taxes on consolidated income before income taxes totaled $2,480,000 and $1,047,000 for the three months ended March 31, 2025 and 2024, respectively. The overall effective tax rate decreased to 26.9% for the three months ended March 31, 2025 compared with 27.4% for the 2024 period primarily due to higher earnings as compared to 2024.