v3.25.2
Income taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
Provision for income taxes is based on the following:
For Three Months EndedFor Six Months Ended
June 30,June 30,
 2025202420252024
Taxes calculated using the estimated annual effective tax rate$199 $170 $365 $346 
Discrete tax items(16)(50)(85)(38)
Provision for income taxes$183 $120 $280 $308 
Effective tax rate12 %10 %10 %12 %
The effective tax rate differs from the 21% U.S. statutory corporate tax rate due to the effect of U.S. tax benefits.
On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act (OBBBA). The OBBBA provides changes to U.S. federal tax law, including expensing of U.S. research expenditures and eligible capital expenditures, increasing the U.S. CHIPS Act investment tax credit and changing other tax provisions. The effects of the new law are not reflected in the consolidated financial statements as of and for the period ended June 30, 2025 because the legislation was enacted in July. We are currently evaluating the effect of the legislation on our financial statements.