INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES. Our effective tax rate was 29.8% for the three months ended June 30, 2026. The effective tax rate was higher than the U.S. statutory rate of 21% primarily due to updated estimates of the purchase price allocation on the acquisition of Prolec GE and losses providing no tax benefit in certain jurisdictions, partially offset by an income tax benefit from stock-based compensation. Our effective tax rate was 10.5% for the six months ended June 30, 2026. The effective tax rate was lower than the U.S. statutory rate of 21% primarily due to a nontaxable gain on the acquisition of Prolec GE and an income tax benefit from stock-based compensation, partially offset by losses providing no tax benefit in certain jurisdictions. Our effective tax rate was 23.7% and 22.6% for the three and six months ended June 30, 2025, respectively. The effective tax rate was higher than the U.S. statutory rate of 21% in both periods primarily due to losses providing no tax benefit in certain jurisdictions, partially offset by an income tax benefit from stock-based compensation.
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