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Income Taxes
 6 Months Ended
Jun. 30, 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 $5,845,000 and $4,486,000 for the three months ended June 30, 2025 and 2024, respectively. The overall effective tax rate increased to 42.8% for the three months ended June 30, 2025 compared with 34.5% for the 2024 period primarily due to the one-time expense of $1,328,000 relating to administrative guidance issued by a foreign tax authority, net of changes in valuation allowances in certain jurisdictions.

The provision for income taxes on consolidated income before income taxes totaled $8,325,000 and $5,533,000 for the six months ended June 30, 2025 and 2024, respectively. The overall effective tax rate increased to 36.4% for the six months ended June 30, 2025 compared with 32.9% for the 2024 period primarily due to the one-time expense of $1,328,000 relating to administrative guidance issued by a foreign tax authority, net of changes in valuation allowances in certain jurisdictions.

The foreign tax administrative guidance issuance noted above also resulted in a one-time indirect tax expense of $3,122,000 for the three and six months ended June 30, 2025, which is included in “Selling, general, and administrative expenses” on the unaudited Condensed Consolidated Statements of Operations.