Annual report [Section 13 and 15(d), not S-K Item 405]

INCOME TAXES - Schedule of Reconciliation of Statutory Federal Income Tax Amount (Details)

v3.25.4
INCOME TAXES - Schedule of Reconciliation of Statutory Federal Income Tax Amount (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Income (loss) before federal income taxes $ 543,305 $ (317,463) $ 945,760
Amount      
U.S. federal statutory tax rate 114,094 (66,668) 198,610
State and local income taxes, net of federal income tax effect (479) 8,939 (26,018)
Valuation allowances (56) (259) (699,730)
Nontaxable or nondeductible items 1,745 1,857 1,982
Tax credits 191 0 0
Other adjustments 0 54 0
Total income tax expense (benefit) $ 115,495 $ (56,077) $ (525,156)
Percent      
U.S. federal statutory tax rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal income tax effect (0.09%) (2.82%) (2.75%)
Valuation allowances (0.01%) 0.08% (73.99%)
Nontaxable or nondeductible items 0.32% (0.58%) 0.21%
Tax credits 0.04% 0.00% 0.00%
Other adjustments 0.00% (0.02%) 0.00%
Income tax expense (benefit) recorded 21.26% 17.66% (55.53%)