TAXES |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| INCOME TAXES | |
| INCOME TAXES | NOTE 7. TAXES For the three months ended March 31, 2026 and 2025, the Company’s effective tax rate was 22.4% and 22.5%, respectively. Deferred tax assets were evaluated by considering historical levels of income, estimates of future taxable income and the impact of tax planning strategies. As of March 31, 2026, we have recognized an uncertain tax position, inclusive of accrued interest, of $739 thousand, which is included in other long-term liabilities. The total amount of the unrecognized tax benefits that, if recognized, would affect the effective tax rate is $10 thousand. The uncertain tax position results from depreciation taken on property and equipment relating to the ongoing litigation with PCL Construction Services, Inc. No uncertain tax positions were recorded as of March 31, 2025. On July 4, 2025, the “One Big Beautiful Bill Act” (the “Act”) was enacted into law, making permanent certain key elements of the Tax Cuts and Jobs Act that are applicable to the Company, including 100% bonus depreciation. The Company is in the process of evaluating the impact of the Act to the Consolidated Financial Statements.
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