Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 12. Income TaxesThe Company’s effective tax rates on pre-tax income were 28.1% and 16.1% for the three months ended March 31, 2026 and 2025, respectively. For the three months ended March 31, 2026 compared to the corresponding period in the prior year, the effective tax rate increased primarily due to discrete expenses in the current period related to the reorganization of the Company’s international operations, compared to discrete benefits in the prior period.
Unrecognized tax benefits are reflected in Income taxes payable in the Condensed Consolidated Balance Sheets. The total amount of unrecognized tax benefits as of March 31, 2026 and December 31, 2025 was $61.8 million and $63.3 million, respectively, including interest and penalties.
The Company’s tax filings are subject to examination by U.S. federal, state, and various non-United States jurisdictions. The conclusion of the examination of the Company’s consolidated federal income tax returns for resulted in both agreed and unagreed adjustments. The Company is contesting the one remaining unagreed adjustment in the U.S. Tax Court and has fully reserved for this unagreed adjustment. The Company’s U.S. federal income tax returns since 2022 are also eligible to be examined. |