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Income Taxes
6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe Company's effective tax rate was 27.7% and 24.7% for the three months ended June 30, 2025 and 2024, respectively. The Company's effective tax rate was 26.7% and 24.7% for the six months ended June 30, 2025 and 2024, respectively. Income tax expense is based on an estimated annual effective rate, which requires the Company to make its best estimate of annual pretax accounting income or loss before consideration of tax or benefit discretely recognized in the period in which such occur. Our effective income tax rate for the three and six months ended June 30, 2025 differs from the U.S. federal statutory rate due primarily to the unfavorable impact of state taxes net of federal benefits, additional taxes on undistributed foreign-sourced income and foreign withholding tax-es on interest income from intercompany notes. For the three and six months ended June 30, 2025, the effective tax rate increased compared to the comparable prior year periods due to the mix of earnings, the adoption of Pillar Two legislation, which resulted in a global minimum tax at a rate of 15% that impacted two jurisdictions in which the Company operates, and due to new state apportionment rules resulting in the revaluation of deferreds in the current period.