v3.26.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Before Income Tax Expense
The components of income before income tax expense are as follows:
 Year ended December 31,
20252024
(As Restated)		2023
(As Restated)
 (in thousands)
Ireland$610,652 $667,773 $578,827 
United States(649,647)(300,171)(356,305)
Other291,460 436,154 350,457 
Income before income tax expense$252,465 $803,756 $572,979 
Schedule of Components of Income Tax Expense
The components of income tax expense are as follows:

 Year ended December 31,
20252024
(As Restated)		2023
(As Restated)
Income tax expense:(in thousands)
Current tax (benefit) / expense:   
Ireland$88,232 $108,031 $79,334 
United States(36,386)(45,820)(34,710)
Other100,199 105,305 59,152 
Total current tax expense152,045 167,516 103,776 
Deferred tax (benefit) / expense:   
Ireland(38,930)(25,027)43,617 
United States(91,138)(70,066)(144,304)
Other1,149 (7,793)15,299 
Total deferred tax benefit(128,919)(102,886)(85,388)
Income tax expense23,126 64,630 18,388 
Income tax (benefit) / expense was allocated to the following components of other comprehensive income:   
Currency impact on long term funding(7,048)1,728 (3,903)
Retirement benefit obligations2,818 (895)— 
Cash flow hedge(346)647301 
Total$18,550 $66,110 $14,786 
Schedule of Consolidated Reported Income Tax Expense Differed From Statutory Rate A reconciliation of the Company's consolidated effective tax rate from the amount that would result from applying the Irish statutory rate is set forth below:
Year ended December 31,
2025
(in thousands) %
Ireland statutory tax rate$31,558 12.5 %
State and local income taxes, net of federal income tax effect— — %
Foreign tax difference / rate differential— — %
Nontaxable or non-deductible items4,321 1.7 %
Effect of cross-border tax laws— — %
Effect of changes in tax laws or rates enacted in the current period— — %
Changes in valuation allowances3,287 1.3 %
Tax credits— — %
Other adjustments(4,259)(1.7)%
Investor tax benefit on foreign subsidiary earnings(30,496)(12.1)%
Global minimum tax13,156 5.2 %
Foreign tax effects
United States2,526 1.0 %
Foreign rate difference11,854 4.7 %
Intangible amortization(38,498)(15.2)%
Effect of changes in tax laws or rates enacted in the current period(23,688)(9.4)%
Goodwill impairment45,531 18.0 %
Other7,327 2.9 %
United Kingdom6,691 2.7 %
Foreign rate difference8,565 3.4 %
Other(1,874)(0.7)%
Germany5,477 2.2 %
Other jurisdictions16,817 6.7 %
Changes in uncertain tax benefits(25,952)(10.3)%
Effective Tax Rate$23,126 9.2 %
 Year ended December 31,
2024
(As Restated)		2023
(As Restated)
 (in thousands)
Taxes at Irish statutory rate (2024:12.5%; 2023:12.5%)$100,470 $71,622 
Rate differential from amortization of intangible assets(48,240)(71,223)
Global minimum tax16,719 — 
Foreign and other income taxed at higher rates50,130 35,044 
Research & development tax incentives(3,041)(3,868)
Movement in valuation allowance(5,279)(1,068)
Effects of change in tax rates25,691 3,154 
Decrease in unrecognized tax benefits(61,679)(54,347)
Investor tax (benefit) / expense on foreign subsidiary earnings(7,995)39,165 
Impact of stock compensation(9,385)(11,487)
Other and non-deductible expenses7,239 11,396 
Income tax expense$64,630 $18,388 
Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and deferred tax liabilities are presented below:
December 31, 2025December 31,
2024
(As Restated)		December 31,
2023
(As Restated)
Deferred tax liabilities:(in thousands)
Property, plant and equipment$3,703 $2,869 $7,547 
Operating right-of-use-assets11,796 15,633 16,108 
Goodwill43,150 43,390 39,014 
Intangible assets803,600 901,731 950,055 
Investments in foreign subsidiaries 4,487 34,983 52,408 
Other13,078 2,632 7,190 
Total deferred tax liabilities recognized879,814 1,001,238 1,072,322 
Deferred tax assets:  
Operating loss and tax credits carryforwards185,352 164,904 125,786 
Property, plant and equipment14,538 7,869 9,082 
Operating lease liabilities16,790 21,503 20,190 
Intangible assets— 45 2,166 
Stock compensation18,556 14,309 17,605 
Other liabilities 79,236 78,428 84,928 
Unearned revenue862 10,364 23,748 
Other1,382 7,372 6,331 
Total deferred tax assets316,716 304,794 289,836 
Valuation allowance for deferred tax assets(44,458)(38,955)(42,967)
Deferred tax assets recognized272,258 265,839 246,869 
Overall net deferred tax liability$(607,556)$(735,399)$(825,453)
Schedule of Expected Expiry Dates of NOL's The expected expiry dates of the U.S. NOLs are as follows: 
Federal
NOL's		State
NOL's
 
(in thousands)   
2026-2039$6,706 $250,239 
2040-2045— 48,484 
Indefinite— 12,926 
 $6,706 $311,649 
Schedule of Reconciliation of Beginning and Ending Amount of Total Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of total unrecognized tax benefits is as follows:
December 31, 2025December 31,
2024
(As Restated)		December 31,
2023
(As Restated)
 (in thousands)
Unrecognized tax benefits at start of year$101,619 $162,239 $219,807 
Increase related to prior year tax positions28,512 5,151 1,161 
Decrease related to prior year tax positions(56)(2,525)(918)
Increase related to current year tax positions14,722 2,171 4,552 
Lapse of statute of limitations(63,837)(65,417)(62,363)
Unrecognized tax benefits at end of year$80,960 $101,619 $162,239 
Schedule of Reconciliation of Income Taxes Paid (Net of Refunds Received)
A reconciliation of the income taxes paid (net of refunds received) for the year ended is as follows:

December 31, 2025
(in thousands)
Ireland$95,757 
Foreign
 US17,000 
 Other53,030 
Total income tax paid (net of refunds received)$165,787 
 Year ended December 31,
202520242023
 (in thousands)
Cash paid for interest$192,712 $196,622 $317,975 
Cash paid for income taxes (net of refunds)$165,787 $140,718 $163,778