v3.25.2
Income taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income taxes
10. Income taxes
The Company’s tax provision for the interim period is calculated using an estimated annual effective tax rate based on the expected full-year results which is applied to ordinary year-to-date income or loss. The tax provision is adjusted for discrete items that occur in the applicable interim period to arrive at the effective income tax rate.
The summary of the income tax expense from operations was:
Three months endedSix months ended
June 30June 30
in $ millions2025202420252024
Total tax expense425430367411
Effective income tax rate24%25%23%22%
The decrease in the effective tax rate for the three months ended June 30, 2025 is mainly driven by movements in valuation allowances. The increase in the effective tax rate for the six months ended June 30, 2025 is primarily driven by the inclusion of the largely tax-exempt divestiture of phases one and two of the European Lime operations in the six months ended June 30, 2024.