Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company computes interim period income taxes by applying an estimated annual effective tax rate to our year-to-date income from operations before income taxes, except for significant unusual or infrequently occurring items. The estimated effective tax rate is adjusted each quarter. The estimated effective tax rate was 19.0% and 26.7% for the three months ended March 31, 2026 and 2025, respectively. The Company’s provision for income taxes was $4.8 million and $8.7 million for the three months ended March 31, 2026 and 2025, respectively. The provision for income taxes varied from the tax computed at the U.S. federal statutory income tax rate for the three months ended March 31, 2026, primarily due to an increase in the deduction related to foreign derived deduction eligible income and an increase in the research and development credit. The Company reviews its deferred tax assets for realization based upon historical taxable income, prudent and feasible tax planning strategies, the expected timing of the reversals of existing temporary differences and expected future taxable income. The Company has concluded that it is more likely than not that the net deferred tax assets will be realized. Accordingly, the Company has not recorded a valuation allowance against net deferred tax assets for any of the periods presented.
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