INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES Our effective income tax rate was 17.2% and 18.4% for the three months ended June 30, 2026 and 2025, respectively, and 17.8% and 16.6% for the six months ended June 30, 2026 and 2025, respectively. The tax rate for the three and six months ended June 30, 2026 is lower than the U.S. statutory rate primarily due to the use of tax attributes and foreign-derived deduction eligible income benefits, reconciling adjustments to recorded tax account balances, and research and development (“R&D”) benefits, partially offset by withholding taxes, geographic earnings mix, and state taxes. The tax rate for the three months ended June 30, 2025 is lower than the U.S. statutory rate primarily due to the use of tax attributes and R&D benefits, partially offset by withholding taxes, geographic earnings mix, and state taxes. The tax rate for the six months ended June 30, 2025 is lower than the U.S. statutory rate primarily due to foreign income tax reserve releases, the use of tax attributes, the nontaxable remeasurement gain that was recorded in connection with the NMP acquisition, and R&D benefits, partially offset by withholding taxes, geographic earnings mix, and state taxes. The Company is currently being audited, or remains subject to audit, in a number of jurisdictions for the tax years 2004-2024, including China, France, Germany, India, Japan, Norway, the United Kingdom, and the United States.
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