Note 7 - Income Taxes |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 | |||
| Notes to Financial Statements | |||
| Income Tax Disclosure [Text Block] |
Our effective income tax rate was 25.2% for the three months ended March 31, 2026, compared to 26.5% for the three months ended March 31, 2025. In determining our quarterly provision for income taxes, we use an estimated annual effective tax rate, adjusted for discrete items. This rate is based on our expected annual income, statutory tax rates, best estimate of nontaxable and nondeductible items of income and expense, and the ultimate outcome of tax audits.
At March 31, 2026, we had a total of $69.5 million in gross unrecognized tax benefits, which are a component of other long-term liabilities on our Condensed Consolidated Balance Sheets. Of this amount, $56.2 million represents the amount of unrecognized tax benefits that, if recognized, would impact our effective tax rate. The total amount of accrued interest and penalties for such unrecognized tax benefits was $15.1 million at March 31, 2026. |